Intellect Neurosciences Inc. (fka ILNS)

[wEaReLeGiOn]

" Item 1A. Risk Factors.

http://www.sec.gov/Archives/edgar/data/1337905/000161577415000268/s100742_10q.htm



Not required for smaller reporting companies.

2. Unregistered Sales of Equity Securities and Use of Proceeds



In July 2014, we issued 200,000 (pre-reverse split 50 million) shares of our common stock to holders of Series C Convertible Preferred Stock upon their exercise of the conversion feature contained in those securities.



On July 25, 2014, we entered issued 1,200 shares of Series F Convertible Preferred Stock and warrants to purchase 9,600,000 (pre-reverse split, 2.4 billion) shares of common stock pursuant to a stock purchase agreement with certain accredited investors.



In August 2014, we issued 396,000 (pre-reverse split, 99 million) shares of our common stock to holders of Series C Convertible Preferred Stock upon their exercise of the conversion feature contained in those securities.



In September 2014, we issued 260,000 (pre-reverse split, 65 million) shares of our common stock to holders of Series C Convertible Preferred Stock upon their exercise of the conversion feature contained in those securities."

Good heavens



I doubt you see alot of insiders converting past B,C,D,E shares at about .15 cents on the dollar imho no matter what one claims.Just read the SEC filings them shares were also reduced by the 250 to 1 reverse.