Intellect Neurosciences Inc. (fka ILNS)

[itwillgetbetter]

Hey I'm not against you I'm in the same boat.Heck I got shares I paid over .04 cents for before Pfizer breached the contract.With no sale no way will I ever get close to breaking even.

I think I found one of reasons they are doing a shareholder vote.Just been thinking why they allowing a vote.Yeah I think they getting close to a settlement with Pfizer that's one reason but this may have some to do with it.

Its in the 8K SEC filing 7/31.

http://www.sec.gov/Archives/edgar/data/1337905/000114420414045903/v385204_8k.htm

Under item 1.01 Entry Into a Material Definitive Agreement.

The Series F Preferred Stock has no voting rights and holders thereof shall vote together with holders of Common Stock on an as converted basis.

Now we know they wiped out alot of Series B,C,D and E preferred to the tune of 16.25 million for 100 bucks.Maybe they did the vote using the voting power of the F as converted however the wording is clear above (with holders of common).

Just trying to figure it out cause management want discuss it nor anyone outside and I've tried to get the truth.