Replies to post #804364 on NorthWest Biotherapeutics Inc (NWBO)

[flipper44]

Oh, except Jerry was wrong about the authorized shares being 1.8 B in his calculation when it’s really 1.7 B. Which means by Jerry’s calculations, there are effectively no shares left to issue.

JerryCampbell
Re: CaptainObvious post# 792474
Tuesday, 10/14/2025 11:51:15 AM
nwbo is really tight on shares.

Authorized 1.8 B [1.7]
Most recent issued: 1.52 B

So in theory, 280 million to issue. BUT

They have to reserve shares for certain items. As of the last 10-Q

21M "C" Preferred
142M Convertibles
68M options not subject to blocker agreements.

Note that over the last two quarters, nwbo has gone to employees to block more options. Easy proof in SEC statements covered here: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=176612140

So that 280M shrinks by 231M reserved to 49M available to issue.

Since nwbo has routinely been paying maturing debt and bills with shares, it's likely lower still.

To me the real mystery is why Powers has not already called an ASM with a desperately needed vote to increase authorization.