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fabioulous

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Posts: 69
Reply with quote  #1 
amigo, there is an interesting message by Cysonic on IH, according to which it looks like Odidis bought part of warrants and already converted them, reaching a 30% ownership based on today outstanding shares.
Your skills are much needed here to understand if is interpretation is correct, cause it would be of no secondary importance to see the two putting some skin in the game.
Hope you can help here
Thanks in advance
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wimuskyfisherman

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Posts: 555
Reply with quote  #2 
Fabius,

I think Cysonic is wrong, but it would be nice if Amigo would confirm.

1. I think they own 578,131 shares period.
2. This statement is where is where the confusion comes in:
SHARED VOTING POWER
1,164,885 (includes 375,088 shares issuable upon exercise of options and 211,666 shares issuable on conversion of debt)*

3. But using logic... 578,131 + 375,088 211,666 = 1,164,885.
4. So all those big numbers confusingly say is if they convert options/debt to shares, they would own 1,164,885 shares between them. But the conversion rate of all those options and debt is so far out of the realm where the PPS is they WILL NEVER EVER BE CONVERTED. If they wanted those shares they should be just buying on the open market now at 30 cents...



CUSIP NO. 458173309
 
 
 
1.
NAMES OF REPORTING PERSONS
 
Odidi Holdings Inc.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) [x]
(B) [ ]
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
OO
5.
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) or 2(E) [ ]
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Ontario, Canada
NUMBER OF
SHARES
7.
SOLE VOTING POWER
 
578,131*
BENEFICIALLY
OWNED BY
8.
SHARED VOTING POWER
 
0
EACH
REPORTING
9.
SOLE DISPOSITIVE POWER
 
578,131*
PERSON WITH
10.
SHARED DISPOSITIVE POWER
 
0
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
578,131*
12.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
6.72%
14.
TYPE OF REPORTING PERSON*
 
CO
 
 
* On September 12, 2018, Intellipharmaceutics International Inc. (the Issuer) filed an amendment to the Issuers articles to implement a one-for-10 reverse split, known as a share consolidation under Canadian law (the reverse split). The number of Common Shares (as defined below) disclosed herein reflects the reverse split. See Item 5.
 
 
 
 
 
 
CUSIP NO. 458173309
 
 
 
1.
NAMES OF REPORTING PERSONS
 
Isa Odidi
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(A) [x]
(B) [ ]
3.
SEC USE ONLY
 
4.
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
PF
5.
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) or 2(E) [ ]
 
6.
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Canada
NUMBER OF
SHARES
7.
SOLE VOTING POWER
 
0
BENEFICIALLY
OWNED BY
8.
SHARED VOTING POWER
1,164,885 (includes 375,088 shares issuable upon exercise of options and 211,666 shares issuable on conversion of debt)*
 
 
EACH
REPORTING
9.
SOLE DISPOSITIVE POWER
0
PERSON WITH
10.
SHARED DISPOSITIVE POWER
1,164,885 (includes 375,088 shares issuable upon exercise of options and 211,666 shares issuable on conversion of debt)*
 
 
11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
1,164,885*
12.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ]
 
13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
12.7%
14.
TYPE OF REPORTING PERSON*
 
IN
 
 * The number of Common Shares disclosed herein reflects the reverse split. See Item 5.
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AmigoMike

Senior Member
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Posts: 122
Reply with quote  #3 
Wimusky is correct .... Excepting I wouldn't say the options and convertible will never be exercised.

The options can be reset to another strike .... Or .... More likely, MGMT just gift themselves more at ity bity prices for a job well done.

Amigo Mike
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fabioulous

Member
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Posts: 69
Reply with quote  #4 
Thanks. We are on the same page
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Samsa1

Moderator
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Posts: 692
Reply with quote  #5 
Guys, read my posts under the delisting notice.   This could be why he is over stating the numbers!    If his so called "plan" is just do another RS, the pre-funded warrants etc do not count for voting rights.  the only ones that do are the shares that are actually converted and the original 2 million that were sold.  he kept everyone below 4.9%.  He now puts out a 13D report claiming he has rights to vote for 13% of the company.     If his plan is do hold off NASDAQ just until the meeting and do another RS.  we are all screwed even more so!

again, normally I would have said he was taking time to ink a deal or refile rexista.  now, after how he screwed up last year, one can't overlook that he got his money.  he got his binus and now he is just looking to do another RS at the annual meeting and this BS filing of 13% voting rights is to set up for that May vote.
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AmigoMike

Senior Member
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Posts: 122
Reply with quote  #6 
Samsa,

100% wrong.

These are the SEC reporting requirements. They are dumb as it relates to current ownership but designed to show/disclose potential unseen ownership rights.

Amigo Mike
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wimuskyfisherman

Moderator
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Posts: 555
Reply with quote  #7 
Don't forget the Odidi's will collect a bonus for Effexor approval... Ridiculous... Their bonus should be that they are not fired... I wonder how many millions of shares will be given to the Odidiots for that worthless approval. Pretty sad but the PPS is in the tank and they will get shares based on that.
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