NWBO · OTC
Companies at this level ended the following year delisted, bankrupt, restated or silent 9.2% of the time, against 4.0% for companies with a clean record.
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The Company has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report”) within the time period prescribed. During the final stages of the 10-K preparation process, complex issues related to the Company’s acquisition of Advent BioServices were encountered, including due to differences in UK GAAP and US GAAP. The Company is working to file the 2025 Annual Report as soon as is reasonably practicable. Cautionary Note Regarding Forward-Looking Statements This Form 12b-25 contains forward-looking statements, which are statements that relate to the future and are, by their nature, uncertain. Words such as “expect,” “will,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the beliefs and expectations of the Company’s management relating to the timing of the filing of the 2025 Annual Report. These forward-looking statements are not guarantees of future results or outcomes and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company’s control. Important factors that may cause actual results or outcomes to differ materially from those in the forward-looking statements include the timing and completion of the necessary interim review and audits by the Company’s independent registered public accounting firm. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulation
NT 10-K, filed 2026-03-31 · auditor
The Company has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Annual Report”) within the time period prescribed. During the final stages of the 10-K preparation process, complex issues related to the Company’s acquisition of Advent BioServices were encountered, including due to differences in UK GAAP and US GAAP. The Company is working to file the 2025 Annual Report as soon as is reasonably practicable. Cautionary Note Regarding Forward-Looking Statements This Form 12b-25 contains forward-looking statements, which are statements that relate to the future and are, by their nature, uncertain. Words such as “expect,” “will,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the beliefs and expectations of the Company’s management relating to the timing of the filing of the 2025 Annual Report. These forward-looking statements are not guarantees of future results or outcomes and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company’s control. Important factors that may cause actual results or outcomes to differ materially from those in the forward-looking statements include the timing and completion of the necessary interim review and audits by the Company’s independent registered public accounting firm. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulation
The Company has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Annual Report”) within the time period prescribed. This is solely because the Company has identified a potential valuation method error in valuing a convertible financial instrument sold in the third quarter by using the market price at which the instrument was sold, rather than a Monte Carlo valuation formula. The Company expects to report one material weakness in its internal control over financial reporting due to this valuation method error. The Company's remediation plan for changing such valuation method is expected to be described in the 2023 Annual Report . The Company is working to file the 2023 Annual Report as soon as is reasonably practicable. Cautionary Note Regarding Forward-Looking Statements This Form 12b-25 contains forward-looking statements, which are statements that relate to the future and are, by their nature, uncertain. Words such as “expect,” “will,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the beliefs and expectations of the Company’s management relating to the timing of the filing of the 2023 Annual Report and the results of the Company’s ongoing assessment of the effectiveness of its internal controls. These forward-looking statements are not guarantees of future results or outcomes and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond the Company’s control
2021-01-26auditor changed or resigned SEC →
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
See the ledger → Every company the score flagged that later failed, what it told the SEC on the way down, and the ones it missed.Every item above is a filing this company
made with the SEC.
Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice