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Samsa1

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Reply with quote  #1 
And people say to stay calm!   The company clearly doesn't know WTF it is doing and now I am so damn confused I do not either any longer.   ANOTHER prospectus again today!   This time now reclassifying the 827k as Units and instead of just getting shares issued warrants along with them !  

they are also still offering 16.5 million more pre-funded warrants.   I really see no way out of this for us longs. but I am so confused at this point.  I do not know.   

Here is NOW what I see.   The 827k shares issued Friday are no longer shares but "units"  which include a warrant now!   The only good thing I see is it
Quote:
Units and the Pre-Funded Units will not be issued or certificated. The Common Shares or Pre-Funded Warrants, as the case may
be, and the Warrants can only be purchased together in this offering but the securities contained in the Units or Pre-Funded Units will be
issued separately


So unlike Friday when they issued shares which would have immediately gone against the float. These "units" will not until such time they are certified.   The same way with the pre-funded Units, which are now restricted to only those people who already own 4.99% of the company. 

so as Fabilous, gave us a definition of a pre-funded warrant in the previous thread, it appears they are trying to raise the 13 million needed for next year without increasing the current float of 4.9 million shares.

But, who the He!! knows any longer.  They are getting way beyond my pay grade in this and have changed it so many times that I have no idea.   And unfortunately every time I have tried to use logic to try and figure this out, you need to throw in Odidi, who makes the dumbest mistakes ever and defies logic.

while Pharmer stated Odidi, did not want to meet shareholder equity but Market cap requirement, while I would have agreed with that, clearly these actions are proving us both wrong.  He does not want to meet, or feels he can not meet and sustain market cap requirements, which is a little above $8 a share and therefore decided to raise funds and promise shares at 7.5 cents pre-split!  or now 75 cents after split.   By doing so I do not see how we ever meet $9 or $10 a share so any of us have a chance to get out?
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AmigoMike

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Reply with quote  #2 
Samsa,

I feel for ya. Everything this MGMT has done or not done for the last couple years has been completely WRONG. I tried to tell y'all.

This financing reeks of last resort desperation plain and simple rather than a company about to ink a multi-million dollar partnership deal. If Odidi had a partner on tap, the street would know and this financing would not be as brutal as it is. Wainwright is bottom of the barrel. The offering is meant to be slanted to big shareholders keeping their ownership below "affiliate" levels while giving them them ability to maintain ownership against dilution. That is what all the "prefunded" crap is.
Wouldn't surprise me if the Odidis themselves magically maintain a certain level of ownership.
The offering ALWAYS INCLUDED UNITS. A common share packaged with a warrant. The breakout of funded ... prefunded .... Is required for transparency.

On a partnership that Pharmer talks about .... Yes .... It is fairly common for a partner to buy equity of a company as part of it's investment into a partnership. But I doubt you will see a partner involved here. Also guessing the recent decline indicates the results of HAP studies are nothing special. Pharmer makes it sound like he knows something very positive. Well if he knows, so do others. And the stock continues to fall. So ..... Maybe that's a result of the vulture financing or maybe it's more eh ?

I don't know what to tell ya. I don't see a miracle from the HAP results and I don't see a partner coming on board anytime soon. I am certain he's had potential partners but I am also certain Odidi has no clue.

Of course I could be completely wrong ..... For all shareholders sake, I hope I am completely wrong on this one. Would love to see the stock rise from the ashes, but it simply doesn't look like that's going to happen.

Financing supposed to close by tomorrow.

Amigo Mike
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fabioulous

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Reply with quote  #3 
Thanks Amigo. should have listened to your warnings since the beginning.

Sometimes I fall into the error to believe people tend to make logical decisions...Odidi proved to be act like someone who prefers to against a wall than listening to all those pointing him into other directions.

Sad story
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AmigoMike

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Reply with quote  #4 
Fabius,

Not sure what to tell ya at this point. I don't see much of any value to IPCI at this point.

Maybe the HAP studies come back stellar .... But the opiod space is highly negative at this point. What would a new entry from IPCI bring that isn't already available ? Nothing ..... In it's current form excepting for food effect. I'm not sure that's enough to make a difference. And again, IPCI would need a partner thus the value to IPCI is greatly diminished. Soooooo ........

Honestly I'd bet on the stock doubling on Odidi being removed vs any significant development on the pipeline. But no indications anyone is moving on him at this point as it isn't looking like value of the tech is worth it.

Amigo Mike
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fabioulous

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Reply with quote  #5 
I agree Amigo, I have no more hopes here.
Just trying to understand which are the best exit options: wait a little more and see if something good finally happens (my best is Boyd convince Odidi to step aside) or sell everything and move on. My recovery expections for my investment are close to zero, the difficult part is trying to understand if we can get a bounce up or not.

I was hoping for Regabatin to be partnered (but it looks dead now); Rexista/Oxy without a partner won't pass a second AdComm.

and Prodras...it is likely working only for rats.

What I wasn't expecting is this fast detererioration...with the Odidis willing to dilute like crazy instead of searching partnerships and licensing....make me wonder if they don't have secondary plans. It looks so illogic how in 15 months they destroyed everything.
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AmigoMike

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Reply with quote  #6 
Fabius,
You say Odidi willing to dilute like crazy instead of partnership. IMO he's been offered partnerships but not to his liking IMO because he's overvalued his tech. That is a MGMT issue. Therefore no choice in order to keep the company in business.

He should lose his company because he's completely mismanaged it.

Amigo Mike
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Samsa1

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Reply with quote  #7 
Wimike, I hear you. That's exactly what I am afraid of. I need to figure out an exit strategy. Most of my shares are held in ira's and I can't even take a tax loss. My only option as a small shareholder has been to cost avg down. Well all that got me was more losses. Now I'm so far under I don't know what to do. I agree with you. This smells of desperation. The man had so many other options that were logical, which is why I felt he wouldn't do this. Not dilute at 75 cents. Unless like you say he has no news to pop the price to meet market cap then dilute only a million shares at 10 a share. That's what I felt he was going to do. Or ink a deal for regabatin? Wtf is he thinking? Reject a deal for regabatin but dilute 17 million share at 75 cent? That's why I am in this mess, I never thought he would have been that stupid.
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Samsa1

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Reply with quote  #8 
Fabius, If wimike is correct and there is no partnership coming. then the only option  see is hang on to the worthless shares.   face it, we already lost just about everything.  we sit at 6 cents pre split level. If Odidi gets this money, he will keep the doors open for another year.  once someone gets these 17 million shares they can use it to boot him out.   I agree we should see a pop just on that news alone.    then if new management comes in and they partner Regabatin, we could get a pop in both him being booted as well as any partnership.  which should be at higher than where we sit.

The one thing I keep thinking is what I I read regarding the latest prospectus which is none of these units or warrants are going to be certified. YET.   so we still hopefully sit at only 5 million shares on the float.   like I said, holding this in RA's doesn't help us to even sell and move on.   I for one am now down close to 300k.  with the measly amount  have remaining, I can not recover in the next year for my wife's retirement if I sell out and move elsewhere which is why I said I do not see a way out.  I cant even short in a IRA to protect against further decline.
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wimuskyfisherman

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Reply with quote  #9 
Amigo - you have been 100% right. I admitted that about six months ago.

Fabius and Samsa- I guess I was a sucker for the song and dance about what was said in January about things that would happen in 2018...

I really would like to see odidi lose the company. But I will never stick another dime into ipci stock. I really think no one wants the company and the criminals buying the offering shares will unload them on retail with the old pump and dump. In fact I think we see odidi and patient play along with giving one of their optimistic company updates. Sounds like collusion me...
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wimuskyfisherman

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Reply with quote  #10 
Also if ipci had a legitimate partner lined up why would they need to sell those shares through wainwright? Simple answer they would not... These are going the route of shady characters who will offload them with the old pump and dump.
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wimuskyfisherman

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Reply with quote  #11 
You know what the biggest joke is here... Ipci originally said offering was part of nasdaq compliance plan. Looks like something went wrong with that brilliant plan because ipci is now below$1. Ipci management reminds me of the three stooges!
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wimuskyfisherman

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Reply with quote  #12 
And what is even funnier is that odidi is so delusional he thinks he is doing a good job managing ipci... I guess it must be the mail order MBA he touts...
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Samsa1

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Reply with quote  #13 
Wim, I must admit after reading the latest 3QE I am concerned your comments may be right
Quote:
Also if ipci had a legitimate partner lined up why would they need to sell those shares through wainwright? Simple answer they would not... These are going the route of shady characters who will offload them with the old pump and dump.


One thing I noticed, no where do they even say they are working to partner or license Rexista, Regabatin OR Podras.   They do however still say they are trying to find partners for the generics.  This goes hand in hand with the Free write, presentation they put out where they clearly stated the only near term monetary outlook was in the generics for international sales in 12 to 24 months.  

Then we see him trying to raise 13 million in this new offering, which would be enough to get through 1 year.   It does sort of lay a path that he does not intend to partner the drugs now or that he blew the deals he had offered to him.  If he was going to partner even Rexista, that alone would come with an upfront payment, so why raise enough money to get through a year at 0.75 cents when he would be raising even just 5 million in an upfront payment?   AND why raise money at 0.75 cents if he is trying to stay listed on NASDAQ?  how do we ever get back above $1 to stay listed?   every time he has issued these diluted offers we never git back above the offering price because he never did anything to further the pipeline.

So, assuming that is worse case scenario, we are still back to the original question then.  what is a exit strategy for those of us longs who are so underwater here to use?   we have already lost just about everything.  my cost average is around $9.50 between my accounts.  He just now issued up to 17 million shares at 75 cents for God Sake.  He is not going to market cap to meet NASDAQ, only shareholder equity.   so, what can we do? I already locked in a 50k loss to cost avg down to that $9.50 range.  I was able to accumulate more shares but all that does is compound my loss now as the price goes down.

So what can we do?
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wimuskyfisherman

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Reply with quote  #14 
Samsa,

Two predictions

1. Odidi will buy 10% of offering to enable offering buyer's to unload shares on the sheep. That will be the pump in the pump and dump

2. They will not partner rexista and be laughing stock of adcom 2

I wish I could believe differently... But I have been watching this sideshow since focalin approval. It was bad but getting worse as they made virtually no progress in 2018. Selling 75% of the company is a slap in the face to shareholders. How about reducing the odidi entourage or selling off an asset. Odidi is an absolute idiot that is out of control.
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