Intellipharmaceutics (IPCI) Forum
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wimuskyfisherman

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Reply with quote  #1 
Here are the facts:

1. At last offering (OCT17) based on offering price and number of outstanding shares IPCI market cap was over $35M.
2. At current offering (MAR18) based on offering price and number of outstanding shares IPCI market cap is under $25M.
3. So in just 5 months, over $10M or about 30% of the IPCI's market cap magically disappeared...
4. With the latest offering, IPCI will net about $3M for 15% of the companies equity. Using those numbers that offering puts a valuation on the company at $20M.
5. $20M is easily what the ANDA pipeline could fetch in a pure cash transaction.
6. For Odidi's next trick...
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wimuskyfisherman

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Reply with quote  #2 
On to something a little lighter:



The title song is so long that by the time you reach the end, IPCI may have gotten an ANDA approval...
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wimuskyfisherman

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Reply with quote  #3 
image001.jpg 
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wimuskyfisherman

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Reply with quote  #4 
Market cap plot compliments of Fabio. It is a management report card. This confirms IPCI is at its lowest market cap in 5 years. Even lower than before they had any approvals.
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Samsa1

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Reply with quote  #5 
Wim, exactly !  That is why I can not believe Odidi diluted as much as what he did at these levels.   I ran the numbers this time.  we have gone from 29,789,992 to 34,7054,515 from Nov. 0f 2016 to November of 2017. The majority of those shares of course came at the offering in last October.  Today with the latest 2 offerings we now have  43,537,849 shares !   so thats an increase of almost 13 million shares since last October when we sat at The $1 mark.  and we all know the majority of these shares were issued at 0.60 cents.    On top of that we have un exercised options and warrants of an additional  15,522,625 shares!  bringing our total fully diluted outstanding share volume to 59,060,474 shares !   

So yes, I still see roughly giving away 33% of our company at these ridiculously low prices.  which anyone getting in now should make a hefty profit potential but I see us longs going to have a difficult time to break even.   using only the current outstanding share count of the 43 million , we only hit $2 a share assuming we make it back to our original market cap.  

I cant say for others but I know I was trying desperately to get my cost avg. down beforehand and was only able to reach $1.94 a share.   but thats when everyone thought that offering at $1.60 would have been the end of dilution.    so, yes, I never expected this to happen.  there are so many other things that could have been explored.  Regabatin for one, has been waiting on a partner for 2 years now.   why give away 33% of the company for 5 million dollars when you could just partner that?   I have no idea.

the only thing we can hope for is now Institutions with large sums have invested and they will also want to safe guard those investments.  so lets hope Pharmers opinions are correct and they help give guidance.
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wimuskyfisherman

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Reply with quote  #6 
Sam- You look at that plot of the market cap and Odidi has the audacity to say this in latest offering prospectus:

Risks Relating to this Offering
Our management will have broad discretion in allocating the net proceeds of this offering, and may use the proceeds in ways with which
you disagree.
Our management has significant flexibility in applying the net proceeds we expect to receive in this offering. Because the net
proceeds are not required to be allocated to any specific product, investment or transaction, and therefore you cannot determine at this time
the value or propriety of our application of those proceeds, you and other shareholders may not agree with our decisions. In addition, our
use of the proceeds from this offering may not yield a significant return or any return at all for our shareholders. The failure by our
management to apply these funds effectively could have a material adverse effect on our business, results of operations or financial
condition. See “Use of Proceeds” for a further description of how management intends to apply the proceeds from this offering.        

Now why should Odidi be trusted to allocate money effectively. He has absolutely been given every chance to perform as CEO and HE HAS NOT. That plot is his REPORT CARD. Which says F!
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Samsa1

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Reply with quote  #7 
well, I can not comment on what grade to give it.   But one clearly sees since about September of 2013 for the last 5 years there has been a trend !  even the high peaks we saw after that time have been lower highs.  with the exception of around March of 2014.  
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wimuskyfisherman

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Reply with quote  #8 
Pharmer- Sure but in last 5 years the market cap has went lower than the market cap just prior to Focalin approval. The company had 0 approvals at that time and the market now feels it is worth less than it was than...
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