Intellipharmaceutics (IPCI) Forum
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Samsa1

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TORONTO, ON / ACCESSWIRE / November 26, 2018 / Intellipharmaceutics International Inc. (Nasdaq and TSX: IPCI) ("Intellipharmaceutics" or the "Company"), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today announced that it has received written notification (the "Notification Letter") from The Nasdaq Stock Market LLC notifying the Company that the minimum bid price per share for its common shares was below $1.00 for a period of 30 consecutive business days and that, as a result, the Company is currently not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).

The Company is not eligible for a grace period to regain compliance. On October 26, 2018, the Company announced that it had regained compliance with Nasdaq listing requirements but that the Nasdaq Hearings Panel (the "Panel") determined that the Company would remain subject to a "Panel Monitor" under Nasdaq Listing Rule 5815(d)(4)(A) until October 22, 2019, and that if at any time during the monitor period the Company failed any Nasdaq listing standard, the Nasdaq Staff would issue a Staff Delisting Determination and the Company would be afforded the right to a hearing before the Panel. While the Company intends to attend the hearing, a hearing date has not yet been scheduled. The Company expects that its shares will continue to be listed and traded on Nasdaq pending the hearing and the expiration of any additional extension granted by the Panel following the hearing. However, there can be no assurance that the Panel will grant a further extension or that the Company will be able to regain compliance with all applicable requirements for continued listing on Nasdaq.

The Company's common shares are also listed on the Toronto Stock Exchange (the "TSX") and the Company's non-compliance with the Nasdaq listing requirements does not affect the Company's compliance status with the TSX.

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Samsa1

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Imagine that, The company could not see fit to PR an approval on Friday which may have got us a pop to $1, even for the day.   But now we get this PR?   I have no clue what they are thinking.   I see this time they clearly state "no grace period".  As I feared, Odidi gave them his plan and it didn't work.  Pharmer is right, the company is putting out regular PR's.  But we didn't need this one.    Now see of my theory comes about.    we didn't move up on good news, but even though this is no surprise to anyone, lets see of we fall today.
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Samsa1

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As expected.   Manipulation.   we are down 12.5% on news that is not news and was a known event.   When we received our compliance letter they already noted we were not in compliance.   We have not traded above $1 all month.   Yet today's reaction acts like it was unexpected?   Yet, on good news we see no price increase and honestly the fact they signed any deal was good even though they had the issues we discussed.   This is terrible, the manipulation is as bad as Odidi is.   we are getting slaughtered.
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Samsa1

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OK correction now down 30%.  see what I mean.  on a known event?
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wimuskyfisherman

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Sure appears to me like Odidi wanted to sell the last offering very cheaply. Also appears to me that the offering ensures delisting. I guess it is all part of his plan to buy back company and technology on the cheap. 
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fabioulous

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Reply with quote  #6 
Sam, Amigo, Wim... what is the probability of a delisting ?

no grace period stated clearly....what options do they have in the immediate ?


Let's say the announce the approval and a partner after the close, and I can't even imagine how, we jump at 1$...does it count ?  Or we are irreparably out ?
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fabioulous

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and...just a statiscal observation....each time Pharmer says or even alludes UP....unbelievable !!
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wimuskyfisherman

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Reply with quote  #8 
Fabius- I really do not know. But my gut tells me 50/50. I say 50% chance that Odidi begs for a little more time and they give it to him. But also 50% that they say we have given you far too long, you are delisted.
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Samsa1

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Reply with quote  #9 
Fabioulous, I agree with wim.  My gut tells me they had their chance, they were to have a plan on how to keep compliance and they clearly could not.  Honestly, I think the only thing that saves them is if they ink a deal for say Rexista and we pop above $1 and they go the hearing in compliance.   how likely that is, is anyone's guess.
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