Intellipharmaceutics International Inc. (IPCI)

[AngeloFoca]

a reasonable estimate would be $20M to $25M annaully.

I'm in full agreement with those numbers... I did my figuring a little different but came up with pretty much the same earnings.

I came up with $24 million in payments, based on 40% royalty payments on Sales by Mallinkrodt... plus $2 million towards the $11 million aggregate claw back to IPCI, and $2 million as the Plus in the Cost Plus manufacturing agreement.

I also allowed 40% of market penetration to the first filers and ~ 10% for each of the other 5 or 6 manufacturers/distributors.