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Samsa1

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Reply with quote  #1 
OK, WTF is going on.   we keep hearing that the company would want to issue more shares once the price goes up.  But now here we go they sell an additional 1.2 million dollars worth at these depressed levels and that's on top the 13 million dollars they want to raise from the other offering? 

What I notice is this appears to possibly be a direct offering.   however it still contains the same language that the shares can be offered on a delayed or continuous basis.  

Even with this I do not see how they are going to meet shareholder equity for the 17th.  according to the preliminary 3QE they put out we show we lost all but 5 million in equity we do not show we have 2.5 million.   all this does is help get us out of the hole.

At this rate, even with HAP studies results, I do not see us getting anywhere near $10 a share on any squeeze.  He is issuing too many shares here at the $1 level.  the idiot.  why would he not wait until he partners or releases HAP study results, let the price pop and THEN sell the shares.   I can not see how we get from 80 cent to $10 in my lifetime?  not with issuing now even more shares at $1 or pre split 10 cents.  WTF ?    excuse my language of course.
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fabioulous

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Reply with quote  #2 
Samsa, Bloomberg just put out a news saying 17.3mln shares have been placed @ 0.75

 

Intellipharmaceutics International offering prices 17.4m Units via Wainwright Bank & Trust.

  • Intellipharmaceutics International proceeds of $13m to be used for:

    • General corporate purposes which may include working capital, capex, R&D, accounts payable and other commercial expenditures
  • Each Unit consists of one common share and one warrant to purchase one Common Share, expected to close Oct. 16

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wimuskyfisherman

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Reply with quote  #3 
Originally the offering was to keep nasdaq compliance. So with that now no longer looking possible I guess the offering is to pay off the odidis loans and keep the doors open for six months while the odidis sell their Toronto home and set up shop in China. I am guessing odidi will try to buy all the andas for next to nothing...
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Samsa1

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Reply with quote  #4 
Quote:
Samsa, Bloomberg just put out a news saying 17.3mln shares have been placed @ 0.75


well, if they have that accurate, I dont see how we ever get that short squeeze that gets us anywhere near where any of us can even break even.  I honestly do not know how Bloomburg came up with that unless they are using fully diluted information.  with all the warrants etc.  I for one still do not know how theses called prefunded warrants etc even work?  I had always felt that would have been used by a potential partner who was willing to support the share price at say $8 a share in order to meet compliance.

This is becoming more confusing by the day, and I still have not figured out how the significant price drop is shorts covering as Pharmer stated?   I thought when shorts covered it would push the price up not down?   I will say the charts he provided do show a lot and drop in price before the the squeeze but this is mind blowing.   we now are at 6 cents pre split prices.   all I see is we all are dead ad lost everything.   even with a short squeeze how do we recover anywhere near $10 a share?  even on a squeeze?    I know we would never hold that and probably settle closer to $3 or $4 but still.   all  know is this is going to be another weekend of misery.  I feel we lost it all.  

and if they do partner it, why would he sell at this level?  no one this BS makes sense to me any longer.  but the sleepless nights do not help.  
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wimuskyfisherman

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Reply with quote  #5 
Samsa, he has no rexista partner does not care about Nas compliance and is doing as big an offering as he can to fund operations as long as he can.
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wimuskyfisherman

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Reply with quote  #6 
The incompetence on Ipci executive staff is staggering...
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fabioulous

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Reply with quote  #7 
Samsa, Pharmer just played with us...til the end. The only correct thing he said here in years is that they would have crashed Odidi to the wall. All the other scenarios and advises have been a perfect contrarian indicator.

Shares short were just above 200k before the offering. Therefore short covering could have happened (if) on Monday when we had 1.7mln shares traded.

What you are seeing in the last 3 days is shorting to hell, mostly naked, which will be covered with the new shares issued.

No squeeze in the world could get us to 8, because if the Bloomberg numbers are correct, 17.4 Mln shares are more than enough to absorb any short covering.

The dimensions of whAt happened is unbelievable...he sold 75% of the company, diluting himself to less than 3%

Hope Pharmer doesn't come back here ...

I find beyond outrageous taking fun of people losing money
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Samsa1

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Reply with quote  #8 
Fabulous. I sincerely hope that you are wrong about pharmer. Not only did we lose everything but then I will have lost all hope in humans as well.

I would hope that someone's desire to punish a ceo would also not have any care towards the innocent people who fall victims as well and just blatantly lie to them.
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fabioulous

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Reply with quote  #9 
Samsa, I would love to come here and apologies with Pharmer. I want to be wrong.
Everything with ipci has gone from wrong to illogical to insane.
Last offering is a pure insult.

Pharmer has never been right. Glad he can be this time
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Samsa1

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Reply with quote  #10 
well, I must admit.  This latest offering appears to be death nail.    I surely hope Pharmer explains what we are reading wrong.

we had a float of around 4.9 million after the split.   Now this latest revision no longer states an up to amount but places the offering clearly at  17,391,305 million shares.

That means we will have a float of around 23 million shares at a Pre split price of 7.5 cents?  I would love to hear how or if he feels we still are going to reach any where near $10?

No longer does it appear that Odidi intends to release news to pop the price and THEN dilute minimally.  He just wants to keep the doors open at this level raise his13 million for another year and suck the shareholders dry.    even with news of HAP results or a partnership, how do we ever pop up past $1 ?    MY God, at a float of 23 million shares we would be at a market cap of 230 million if we hit $10 a share.

I really hope he comes here and explains what we are missing or misreading.   this does not appear to be an offering for any potential partner just a public offering.  MY God.  There is no hope.  we longs have lost it all.  while manipulators and Odidi live like millionaires.  and worse than that, a 17 million shares offering at 75 cents, I see no way we stay listed! we will never meet the $1 a share minimum requirement. I am so sick.

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Samsa1

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Reply with quote  #11 
the only hope we may see here is what exactly is pre funded warrant and a Firm warrant in this case?  one thing I noticed was this;


 Number of Firm Shares: 827,970
 
Number of Pre-Funded Warrants: 16,563,335
 
Number of Firm Warrants: 17,391,305
 
Number of Option Shares: 2,608,695
 
Number of Option Warrants: 2,608,695
 
Warrant Exercise Price: $0.75
 
Pre-Funded Warrant Exercise Price: $0.01
 
Public Offering Price per Option Share: $0.74
 
Public Offering Price per Option Warrant: $0.01
 
Underwriting Discount per Unit: $0.06
 
Underwriting Discount per Pre-Funded Warrant: $0.06
 
Proceeds to Company Unit (before expenses): $0.69
 
Proceeds to Company per Pre-Funded Unit: $0.68
 
SO, unlike a normal warrant that always held a strike price, these do not?   I only see 827,970 firm common shares.  so are all these warrants going to go against the float or not until they are exercised? I have yet to see what our outstanding share count will be after all this mess. I did note this " Each Pre-Funded Warrant will be immediately exercisable for one Common Share at an exercise price of US$0.01 per Pre-Funded Warrant and may be exercised at any time after closing until all of the Pre-Funded Warrants are exercised in full."   so he is selling shares for a penny?  

I really really wish someone would explain what the hell this exactly is before we all put a bullet in our heads.   I never in my life came across anything like this.
 
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