Jerry, Q on unregistered share 8K disclosures. | NWBO Message Board Posts


Northwest Biotherapeutics Inc.

  NWBO website

NWBO   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  15793 of 15959  at  9/20/2022 4:47:50 PM  by

Hodag


 In response to msg 15792 by  exwannabe
view thread

Re: Jerry, Q on unregistered share 8K disclosures.

Now that this transaction has been disclosed, the holders of the preferred do not have to disclose sales going forward as they convert to common and sell those shares.  The company must disclose conversions in their future quarterly and annual filings.  Those obviously are not "4 day" disclosures.  The only exception would be a holder that owned 5% or more of the shares because they would be subject to the 13D rules.
 
The preferred can convert into around 75 million common, and there are about 11 million warrants not subject to the suspension agreement.  There are plenty of authorized shares to cover the full 86 million in potential issuances.
 
What the company failed to disclose is the "convertibility date" when the preferred can be converted.  That date is set in the "Series C Subscription Agreements" which the company failed to disclose.  That is an SEC reporting violation as the date is a material fact required to be disclosed and the agreements should have been disclosed either as an exhibit to the 8-K or the 10-Q.  Naughty, naughty.  Les knows better.


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 0  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board

Replies
Msg # Subject Author Recs Date Posted
15794 Re: Jerry, Q on unregistered share 8K disclosures. tastygreenwafers 0 9/22/2022 6:21:36 AM




Financial Market Data provided by
.
Loading...