Intellipharmaceutics International Inc. (IPCI)

[wimuskyfisherman]

Samsa- What I don't understand is why the loan is convertible at around 50 cents and not around 20 cents- where we are trading. I would LOVE to see Odidi convert that loan to shares at current market price. But I know he will not as he knows dilution is coming in the next two months... He won't subject his precious $1M loan to the hit equity takes with every dilution...

[Samsa]

Wim, All three of your last posts are legitimate arguments. I think we have seen his true color now. The fact they stated that the RS was going to effect everyone the same and just 5 months later now change it that his subordinated Debentures will not be subject to the RS so he does not get diluted. well, that speaks volumes. He does not have time to work on marketing his drugs but he had time to do that.

So if that is the caliber of CEO we have,of course he will just dilute again. Once he gets the 1.7 million shares convertible at 54 cents that not gets him back to owning above 10% of the company. He can afford to dilute again. This is why he is doing this. So he can dilute again while maintaining control.

You are correct in that the BOD is responsible for allowing this continue. It just shows that no one will then take the company serious and we will probably be stuck at these levels.

We already know the games that were played to manipulate the price. The people who play these games are probably just as upset with Odidi as we are. So, do you really think they will allow the price to get above that 56 cents to allow him to covert those shares? My guess is they will not. The only way to stop him is by not allowing the share price to get above the strike price.

If I am correct then we are going to be stuck in this trading range of 17 cents to 40 cents for a very long time.

[wimuskyfisherman]

The IPCIF market cap is about $5M. How can Odidiot justify going to capital markets to pay salaries? It is time to start cutting costs and selling off assets to pay the bills. The shareholders have already been given the shaft and they should not continue to bear the burden of this failing management team.

[wimuskyfisherman]

So do we see Odidi make a deal soon or will they just continue the death spiral and dilute. I really think if they dilute and do not sell or partner something, it greatly increases the likelihood IPCI/IPCI Management/ IPCI BOD get sued for breach of fiduciary duty. For years they said they will not make bad deals. But was not last September's offering a very bad deal for shareholders? Would an offering right now not be a bad deal for shareholders? How can they justify not selling off the ANDAs to avoid another offering? I speculate that next offering would sell over 75% of the company and maybe get them $5M. At what point do they start selling some of the ANDAs that collect dust? Why did they not do that last year? Who does not selling off these ANDAs benefit?

[wimuskyfisherman]

Sam, odidi will milk his salary for as long as he can. Then he will step up and say I am first line creditor and I want all the approvals. Then he takes them to China and keeps all profits for himself. Shareholders paid for approvals but odidi reaps benefit in bankruptcy..

[Samsa]

Wim, That is an interesting way to put things. so they spent too much time trying to save NASDAQ listing and that is why they didn't do anything else last year?

Ironically, had they done something else, like ink a deal for Rexista or Regabatin, they would have saved the NASDAQ listing.

Seriously, for someone with a MBA in business, well I guess I do not need to state the obvious. Its just like taking the time to renegotiate his subordinated debentures. When they originally filed the reverse split they stated the split was to effect everyone. Now, he changes his mind and is making sure he doesn't get diluted on a loan that the money was spent years ago. or maybe that was the intent all along? telling shareholders one thing and do another? I see a pattern here.

[wimuskyfisherman]

even- the wheels of justice turn about as slowly as the wheels of IPCI product development! Actually, even the judicial system moves faster than that...

Now want to hear something funny... IPCI is telling shareholders that 2018 was a bad year and the reason things did not move along was most resources were devoted to trying to save NASDAQ listing. The stench of this company just builds daily...

[evenkeel]

class certification ruling will probably take another 4 1/2 months, then it is to end of Oct for first discovery. The wheels turn slowly.

if there was a bankruptcy I think a case like this gets listed as a liability, although the company may be paying the expenses for this right now.

[wimuskyfisherman]

Even,

I am guessing the lawyers will try to settle this. But shareholders should not accept any deal. The longer this drags on the harder it will be for Odidi to file bankruptcy and try to hand pick which assets he takes to China. I am glad to see the Canada case as well. These suits are the only thing holding the CEO con artist in check.

Sounds like they have 1.5 months worth of cash left. The next offering is going to be even worse than the last. Last offering they sold 90% of the company for $15M. This next one they will sell 90% of the company for less than $5M. I sense after this next offering another lawsuit hits suing the BOD/IPCI management for breach of fiduciary duty...

[evenkeel]

I checked the filings in this case, and the last one was filed 2/25

They have a case management plan which gives 285 days past feb 5th to do early discovery. No trial date yet, to be done by jury. It talks about possible mediation before the discovery period ends.

Total discovery could take one year total.

[wimuskyfisherman]

Even- My take on this is that one claim was dismissed but one was not. In particular the court agreed that it would not dismiss claims in regards to Rexista NDA content. In my opinion, that is spot on. We were misled and they acted like they submitted a complete and thorough NDA but never ran the oral and nasal HAP tests. Also in my opinion, there was a precedent with Collegium who filed an NDA for a similar abuse resistant opioid. All that info was public and Collegium ran ALL HAP TESTS prior to submitting NDA. If IPCI was only going for IV abuse resistant properties they should have specified. I really think IPCI intended to submit all HAP data but for whatever reason they did not get the studies done. They were under a lot of pressure to submit, so they did. I think they intended to run the oral and nasal studies right after submission and then get them added to the submission. But they did not. Thus, in my opinion they came up with some lam brain idea that they were now only going for IV abuse resistance. The level of mismanagement, incompetence and now shadiness of this company is now at levels that rae rarely seen.


Shanawaz v. Intellipharmaceutics International Inc. et al, No. 1:2017cv05761 - Document 35 (S.D.N.Y. 2018)


Court Description: OPINION AND ORDER: re: 29 MOTION to Dismiss Amended Complaint filed by Intellipharmaceutics International Inc., Domenic Della Penna, Isa Odidi. For the foregoing reasons, Defendants' motion to dismiss is GRANTED IN PART and DENIED IN PART. D efendants' motion to dismiss is granted with respect to Lead Plaintiffs' Section 10(b) and 20(a) claims to the extent they are based on Defendants' statements describing Rexista's abuse-deterrent features and its bioequivalence to OxyContin. Defendants' motion to dismiss is denied with respect to Lead Plaintiffs' Section 10(b) and 20(a) claims based on Defendants' statements describing the contents of the Rexista NDA as filed with the FDA. Defendants shall file answers to the remaining claims within 21 days of the date of this Order. The Clerk of Court is directed to close the motion at Docket Number 29. SO ORDERED. (Signed by Judge J. Paul Oetken on 12/17/2018) (ama)

[evenkeel]

court ruling

https://law.justia.com/cases/federal/district-courts/new-york/nysdce/1:2017cv05761/478304/35/

[wimuskyfisherman]

Weezuhl- 100% he will keep that loan on the books as it will get him the company in bankruptcy...

Who will buy next offering? Not anyone in their right mind and I doubt they can short sell enough shares in advance to raise $5M... I think their is a chance that Odidi and friends come in and take 70,80 or even 90% of the company for $4M.

[wimuskyfisherman]

Sam- Exactly, People who bought shares lost 99%... But Odidi continues to collect 12% on his loan each and every year and lost nothing... Notice the only change is he can now exchange loans for shares at 59 cents...

IPCI is more of a con job each and every day... My guess is Odidi and his friends come in and buy next offering... Where they will get in excess of 70% of the company for about $4M... Plain and simple, Odidi is really living the con artist role more and more every day!

[WeeZuhl]

This should surprise nobody.

The only people who benefit are the Odidi's who now get to convert the stock at 1.7 million NEW shares or roughly 9% of the outstanding new shares?

How is this fair to shareholders? His debenture should still be subject the same reverse split as everyone else.

As I said at the time, if they would have converted this loan to shares last year, it would have substantially improved the shareholder equity and required less capital to be raised, not to mention the effect on market confidence. They didn't do it then for this reason, and they will not do now, for the same reason.


As you rightly point out, his loan is immune to degradation by dilution and reverse splits, and as wimuskey has rightly pointed out, his loan keeps him at the front of the line for company assets in BK. So don't look for that loan to get converted to shares anytime soon.

[Samsa]

well, the 1QE is out and most items as expected with the exception of one thing which I call BS on. the refinancing of the Debentures.

On April 4, 2019, a tentative approval from TSX was received for a proposed refinancing of the debenture originally issued to us in 2013 (the "2013 Debenture") subject to certain conditions being met. As a result of the proposed refinancing, the principal amount owing under the 2013 Debenture will be financed by a new debenture (the "New Debenture"). If issued, the New Debenture will have a principal amount of $1,050,000 and will mature on November 1, 2019, bear interest at a rate 12% per annum and be convertible into 1,779,661 common shares of the Company at a conversion price of $0.59 per common share. Dr. Isa Odidi and Dr Amina Odidi, who are shareholders, directors and executive officers of the Company, will be the holders of the New Debenture.

This I do not think is fair at all. so let me get this straight, nothing really changed. they owed the 1 million fifty thousand before the reverse split and that was convertible at pre-split shares ad strike strike price. Now the amount owed is not going to be subject to the Reverse Split? So the shareholders got nothing in return ? we didn't get a lower interest rate. we didn't get any money knocked off the owed amount. The only people who benefit are the Odidi's who now get to convert the stock at 1.7 million NEW shares or roughly 9% of the outstanding new shares?

How is this fair to shareholders? His debenture should still be subject the same reverse split as everyone else.

[wimuskyfisherman]

Hey Odidi have you figured out something is wrong yet? The stock is trading at less than 30 cents per share and in the first quarter alone you posted a loss of 16 cents per common share... Hey Odidi wake up!!! Healthy companies don't lose over 50% of their market cap in a single quarter... I guess it doesn't take an MBA to figure that out but you are indeed the business expert with the MBA...

[Samsa]

Numbers, nice to see you here. well sorta that means your holding a bag as well. You are right about Renexa. that is something the company has never kept us informed on. They filed that under the new regs so the FDA was to give a response within 10 months. So only way they can get approval is assuming they did not receive any CRL.

Honestly they had the chance to get on the leading edge f so many drugs and they blow it every time. Regabatin for one. They have been siting on that since 2015 knowing they needed a partner. Had they partnered back then they would have been set to roll it out before the end of the Lyrica patent. Now they will have to compete with generics. Seroquel! they fail to capitalize on that and companies who got approval AFTER IPCI got more market share than we did. to this day they have not made a effort to sell it nor have they held MNK accountable.

It is become apparent, Odidi thinks he is successful merely because he obtains a patent or an approval rather than the actual success of the company. which is why he feels he is justified in his millions of salary and bonuses a year while not doing anything to provide shareholder value but only diluting it.

approved drugs sitting on a shelf collecting dust. approved drugs which are partnered not being marketed properly and doing nothing. proposed NDA's sitting on a shelf since 2015 not being partnered so no progress on the pipeline. Yet, he feels that is success worthy of top notch pay and bonuses. Worse of all we have a BOD that does nothing about it.

[Samsa]

Doog, you are correct. his comment that its time to rebuild is pathetic. If he could not keep it from falling apart when it was up, what makes him think he can rebuild? there should have been no need to rebuild. All he needed to do is sign a deal. If he wasn't willing to make a deal to save the company, why would we think he is willing to make a deal to build one?

[numbersarefun]

Ranexa patents expire May 27, 2019, 45 days. I tried writing investors relation to remind them of the important date. FDA will probably giving out final approvals after the patents expire.

IPCI should be building up inventory and preparing for Generic Ranexa launch. IPCI can either distribute it themselves or find a partner. Mallinckrodt did a poor job with Seroquel XR. I would suggest finding a better partner for non-opioids. Mallinckrodt specializes in opioids, so maybe they would be a good partner for IPCI's Oxy ER.

[doogdilinger]

Yep time has revealed all, and it's only gonna get worse when he finally makes his exit here and galivants off to china to peddle his foolish wares!

[wimuskyfisherman]

Doog- And don't forget that Odidi sold many shares over the past 5 years. But bought none for himself. The only money of his he put into IPCI was a 12% loan that he is still collecting interest on... Shareholders that bought shares lost 99% of investment... But Odidi as a lender lost nothing... And he is only creditor and will be trying to take as much IP/Approvals as he can in bankruptcy... This whole situation just stinks badly... My guess is the only IP he wants are the ANDA approvals. He can take those to his new company in China and hit the ground running. He is a total crook at this point.

[doogdilinger]

Yes the BOD here is mia...they're just here in name only as part of Odidiots scheme to keep the pay checks rolling for zero results until he drains this thing completely dry!

[doogdilinger]

Yep Odidiot just does everything in flim-flam fashion and is the most clueless bio CEO on the markets. Had IPCI had a qualified/seasoned bio CEO and kept Odidiot in the lab were he belonged the outcome may have been much different here...and to this day I accept that glaring fact that many wise bio investors kept stating about the husband and wife team here having way too much control, thus they never considered IPCI as an investment opportunity!

Odidiot sure knew how to run a p&d as that's all Rexista adcom was to him considering he knew damn well he was ill prepared for it yet proceeded to schedule it anyways...then ran off to China to start operations for himself using IPCI's name and corporate logo in his ego driven Chinese photo-op!

He's just lucky this company's such a failure or there would be lots more class action suits launched by now by all the shareholders he screwed over with his perpetual bs over the years while having zero clue how to run a company!

[WeeZuhl]

but the worst part is that the majority of us didn't know at the time that IPCI was receiving CRL's they weren't disseminating to market...so even if Odidiot and Della Penna found higher quality funders, the fact remains that IPCI proved completely incapable of receiving any timely FDA approvals, so in the end all they did was dilute 100's of millions of dollars worth of stock that resulted in no relevant return in value...

Don't forget about repeatedly saying all the necessary HAL studies were completed when they were not even started. This is the reason there was barely a hiccup when oxyER was re-filed and accepted by FDA last month. No one has any confidence in this company, nor should they. I'll ask it again for the bajillionth time in the past 4 years-- Where are those HAL study results?

[doogdilinger]

Yep, he totally and completely bamboozled all IPCI longs who held through Rexista adcom, and I still have the email where/when Della Penna foolishly told me several months in advance of Rexista adcom that they were more than ready to address any blue dye concerns haha!

I still think that Della Penna may have been a good CFO, but the moment that 1st TEVA deal I'm sure he helped secure fell through when IPCI couldn't receive FDA approval in time, the downward spiral kicked into full gear!

And I think it was amigo mike at the time who said that the funders IPCI was in bed with were dog crap and that Odidiot needed to find better ones...but the worst part is that the majority of us didn't know at the time that IPCI was receiving CRL's they weren't disseminating to market...so even if Odidiot and Della Penna found higher quality funders, the fact remains that IPCI proved completely incapable of receiving any timely FDA approvals, so in the end all they did was dilute 100's of millions of dollars worth of stock that resulted in no relevant return in value...and now both their NDA and ANDA pipelines are dead.

Sickest chit I could ever imagine playing out here after the initial FocalinXR run took us to that premarket high of $6.46 all the way back in 2013 now...which really says it all, and reflects on how insane it is that Odidiot hasn't delivered a damn relevant thing ever since that initial 180 day exclusivity period on the initial 2 FocalinXR strengths, and even the FocalinXR market share PAR once had has now been destroyed to boot lol.

I don't even know why Odidiot continues the endless charade...since all he ever accomplishes is more of the same patterned nothingness. It's just a game to him to keep paying everyone involved until he reaches the end...and then I'm sure as you've so insightfully alluded to, he will be the 1st creditor in line to take whatever bs assets are left on the IPCI carcass b4 he officially galivants off to china with his banana yellow lambo on a barge behind him lol.

[wimuskyfisherman]

Freedfish are you still out there? Would like to hear your opinion of IPCI and how Odidi stays on as CEO.

[wimuskyfisherman]

Doog- Yeah rebuild what? This is not a company, it's Odidi's private circus!

[wimuskyfisherman]

Sam- No... Those people used the offering shares to cover the short sale they did prior to the offering. Here is how it worked:

1. They got wind of offering from Wainwright and/or IPCI
2. They pumped and short sold knowing offering was coming. This is how they raised the money to buy offering.(sold at a high price relative to offering)
3. Then when offering hit, they short sold some more to drive the offering price down. Thus getting shares much cheaper than the initial short sale.
4. They used offering shares to cover short sale.
5. After short sale was covered, these guys hold very few shares. This is supported by 17M shares sold in offering but no one now holds any shares...

Right now they will drive price back up and short sell into their pump. This way they will raise funds for new offering that hits in a month or two. Then they will cover that short with the offering shares they buy at $0.10. That is how they are making their money. They never hold shares. They use offering shares to cover short that was short sold at a much higher price.

[doogdilinger]

Yep let the death spiral begin...the only thing he proved successful at over the past 5 years was carrot dangling and diluting...so his true calling wasn't as a scientist, it was as a stock promoter. He wasn't a very good stock promoter mind you...but he was good enough to con all of us into believing in his science, at least until Rexista adcom that is! After the disastrous Rexista adcom however the over-whelming majority of us knew how screwed we were and sure enough all Odidiot's done since is completely sacrifice the shareholders who supported him over the years while simultaneously bleeding the company dry and not delivering a shred of value for 5 years and counting...nothing of value period...just broken promises of supposed grandeur that he proved completely incapable of delivering haha

[doogdilinger]

the CFO claims this time is to rebuild the company.

Goes from bad to worse with each passing year here doesn't it Samsa

[Samsa]

Wim, not only does any of the people buying the offerings want him him out neither does the board. They have turned a blind eye to his performance. It makes sense that the people behind the offerings do not want him out. He hands them this game on a platter. His last offering he sold what, a total of 20 million shares for 14 million dollars when we only had 5 million outstanding after the reverse split. Those holders can now use those same shares to short him back down on his next offering. So they make their money shorting against him. And he has proved them right time and time again that he can not deliver so betting against him is the smart bet.

I agree it appears they are setting up for another run now. They are slowly covering the short position now. That is why we are seeing this slowly increase in price on no news. so right before the next offering they can short it back down forcing him to issue more shares at even lower prices.

[wimuskyfisherman]

Sam- CEO's get high salaries due to performance. If they don't perform they get let go. For some reason the Odidi's feel they are entitled to continuie to run the company. They have driven the company into the ground. They currently own less than 5% of the outstanding shares. At any other real company, they would be fired. But the way the offerings are sold to guys that are just pumping and dumping, nobody actually has a large stake in the company and wants them removed. Thus they continue the con. My guess is another offering is coming real, real soon. Odidi will raise as much money as he can. My guess 75% of the company for $5M. I see the price rising. The guys that will fund the company need to take this a little higher and create some type of pump and hope. That way they can sell $5M worth of shares to retail in advance of the offering. Then when offering hits, they will get their shares at $0.10 each. Same old same old.

[Samsa]

Wim, I agree that with the performance of the company the BOD has some explaining to do. as you pointed out we went from 100 mil market cap to where we currently sit and no adjustments from their end either.

I did write them after the the adcomm and expressed my opinions and hey never did get back to me. Now things even got worse from that point.

I read on a another site (and did you note the one site is now removed?) but I read on another where the CFO claims this time is to rebuild the company.

How the H is someone going to rebuild when they were not able to maintain and expand what they had? It is sad the state of affairs we were drug into but as you said, its a great little pump and dump cash machine for some and as long as Odidi gets his millions a year in salary and bonuses he thinks he's running a successful business.

[wimuskyfisherman]

Sam, what amazes me to this day is that odidi is CEO. Obviously no one wants this train wreck or he would be long gone. He has taken this company from a market cap of about $100M at it's peak to a valuation of about $5-10M. In what world does a CEO do that and still retain his job? I mean he and his wife own under 5 percent of outstanding shares... Obviously the only reason this company is still around is it offers a good pump and dump for certain entities.

[Samsa]

Wim, you are quite right. Unless he finally makes a deal he will be doing nothing more than more diluting by or before May. It is was kept me stuck here all last year. He puts out a PR stating they are evaluating offers for Regabatin and even stated they intended to start trials by year end and they only quantified the statement by saying assuming they have the money. So if they had offers one would have expected them to take one of them before allowing the company to fail NASDAQ compliance as well as do the toxic dilutions they did.

So did they even have offers? Any offer, even if it was for only 5 million dollars plus the partner pays for trials, would have been better than falling off NASDAQ and letting the drug and pipeline sit on a shelf.

[wimuskyfisherman]

Will HC Wainwright, Sabby, Anson and all the other lowlifes do Odidi's next offering? Or will they even pass on it? Which will lead him down the ladder to a group of lower life scumbag bankers? Pretty soon Odidi will be financing operations through a local Payday loan store...

[wimuskyfisherman]

Tilator- I have never found any reference to Odidi actually ever buying IPCI shares. I think he got his shares when he started the company. Then he arranged some type of share structure and basically said me the Mrs. own XXX shares. I am guessing at one point he an the Mrs. owned all the shares... Then IPCI went public and the dilution began. I CAN NOT FIND ONE SHRED OF EVIDENCE that Odidi ever paid for a single share. But we all know he has been collecting 12% on his loan forever... Not dilutive and he is the only major creditor... Thus when IPCI goes into bankruptcy he has first claim at the assets. Now think about this... Who has the most to gain by proving IPCI technology is worthless? It is Odidi as then he can grab/steal more when the doors close.

[tilator]

But now he continues to collect 12% year in and year out and will have first grab at IPCI assets in the firesale.

This is important for everyone to understand.

Odidi does not loose his invested loan capital in dilutive offer, because this capital still remains intact.

Only those who own shares will loose capital.

This issue should be taken seriously also in the law suit going on. Samsa?

[wimuskyfisherman]

Doog and Samsa- This stock cannot and will not go up. The truth is they have no revenue and no real revenue in the near future. But they have 60 employees, a full executive staff, a BOD and a failed pipeline. Yes they now tout some new pipeline products. But these are no where near completion and the fact is the company has no money to develop them. The burn rate to just keep doors open is about $1M per month. And that is with them not advancing anything. So what is Odidi's next move? How does he raise his next $5M to keep the doors open for 3-6 months? My guess is he will sell 90% of the company to get that $5M. I have heard they don't want to make bad deals time and time again... But what was last years offering? Wasn't that a bad deal?

I guess we all know why Odidi never buys IPCI shares... He just loans them money at 12%... If he would have bought shares with that loan money years ago, that money would be long gone... But now he continues to collect 12% year in and year out and will have first grab at IPCI assets in the firesale.

[doogdilinger]

Yep, there once was a time that news may have actually moved this stock but not any more...the entire market has IPCI labeled as a dilution machine several years behind the curve of where it needed to be if it ever expected to be taken seriously.

And the August date perfectly coincides with when Purdues Oxy patent expires...yet there's still been no news on any judge completely dismissing Purdue et al's suit against IPCI lol.

[Samsa]

Trend, I saw that and what did that do for us? Got us back to $0.23 cents. I guess no news will pop us, but bad news will always destroy us. It is what I have been complaining about for a long time.

[Samsa]

doog, well said. I said back then IPCI should have sued the FDA for that decision. by trying to placate them or not antagonize them, what did they gain? ZERO !

[Samsa]

Wim, You, are correct he is the one common denominator. Had he not needed to raise the cash we would have been ok after the RS. The sharks were just waiting loving the fact he did the RS. it gave them room to move the stock downward. It was easier to run the stock from $3.50 to the current $0.20 cents than it would have been to lower the price from $0.35 cents to $0.02 cents. All they needed to do was wait for him to do his next offering.

[TRENDmendous]

News release dated March 29, 2019 - U.S. FDA acknowledges receipt of Intellipharmaceutics’ resubmission of Oxycodone ER New Drug Application, deems it a complete response, and designates August 28, 2019 as goal date for review.

Link:
https://www.sec.gov/Archives/edgar/data/1474835/000165495419003593/form6k.htm

[doogdilinger]

Yep hindsight's always perfect but the initial death blow for IPCI occurred exactly 5 years ago when the FDA came along and dragged IPCI into the fight the FDA was having with the manufacturer of Concerta...the sister ADHD drug to FocalinXR!

The exact moment the FDA forced IPCI to re-do BE studies on FocalinXR up to the new FDA guidelines/standards...only to turn around and change their mind and not force IPCI to re-do the BE studies...to turn around once again and force IPCI to do the new FocalinXR BE studies was the biggest pile of blatantly corrupt bs I ever thought I'd witness on any bio play...and there were several articles written by attorneys at the time who talked about what a blatant chit show the entire FDA decision making process was at that time!

And to this day time has more than proven that was the fatal juncture that put this company in a coffin never to rise again...and I will always remember sprot arguing/debating with me over the FDA/IPCI FocalinXR issue and sprot saying that regardless of who was at fault that IPCI was basically f'd at that time...and sprot was dead on...because time has more than amply proven that Odidiots decision to let the FDA f IPCI over at that juncture really was the beginning of the end here...because from that day forward Odidiot never got another ANDA approved by the FDA in a timely fashion, let alone made any relevant progress with a single NDA!

And the worst part is that I strongly suspect that it was the FDA's decision to screw IPCI over on FocalinXR that revealed how in over his head Odidiot was as a PubCo CEO, and instead of him accepting that fact and stepping aside to focus on the science...all the sob did was dilute dilute dilute for 5 years running now and never deliver a shred of relevant value in return for all that relentless dilution as he completely crushed this company's potential into nothing but ashes over the past 5 years!

I just wish that all of us who held through the Rexista AdCom disaster caught on to the disaster that was already unfolding sooner...but let's face it...we all got fooled into thinking Rexista AdCom was gonna be a success because Odidiot made us all believe that they were properly and adequately prepared for AdCom even though they knew they weren't...which is sickening to look back on now...and just proves how friggin' pathetic Odidiot had already become with all his secret China endeavors already well in motion at that time sigh!

[wimuskyfisherman]

The saddest thing about IPCI is they fail at everything. The past year it appears all they worked on was keeping the NASDAQ listing. And just as everything else, they failed... When is Odidi going to finally realize he is the CEO, he is making the decisions, this is not just bad luck... He is the problem...

[doogdilinger]

haha excellent point evenkeel, funny how that exposes him a little further even at this late stage right cheers!

[doogdilinger]

Yep Samsa, a shining testament to his woeful incompetence and ineptitude as a PubCo CEO! Had he made the right decision to step aside the moment the initial FocalinXR disaster 1st reared its ugly head 5 years ago there may have been a chance to save this train wreck...but from that day forward it's been all downhill unfortunately!

[Samsa]

Doog, you say he took a $5 stock and reduced it to a Penny. How about use the the actual prices because of the Reverse split.

Its more dramatic to say he took a $50 dollar stock and dropped it to $0.15 cents and got it delisted.