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Samsa, yes 1$ share price would give us the required equity...but how ipci can prove it will hold for one year ?
the 2 current major holders are an Hedge Fund and a financial entity reporting its holding on behalf of someonelse...
Do they need to leverage on some of the other variables ??
- additional paid in capital
- retained earnings (show me the profits)
Ownership: the numbers & NASDAQ Compliance
Sabby had 1'083'000 shares
Anson sold 787'946 shares (still holding - as per today Bloomberg - 2'182'720)
UBS reporting 6'997'778 shares based on "the Auction Rate Securities Rights issued by UBS AG to certain clients and pursuant to which the securities reported herein have been purchased from such clients"
UBS acted on behalf of someonelse - 16% of IPCI is therefore likely to end up sooner or later the another benficiary. For which reason ?? Unknown
If I was Odidi I would start to feel quiet uncomfortable.
NASDAQ COMPLIANCE
"The Company must also have by September 28, 2018 a stockholders’ equity position of over $2.5 million.
Finally, the Company must by that date provide the Panel with updated financial projections demonstrating its ability to maintain compliance with the stockholders’ equity rule for the coming year."
how do you prove your ability to maintain the equity position > 2.5Mln for the followwing 12 months ?
Equity position is made up of
+Common Stock
+Additional Paid in Capital
- treasury Stock
+ Retained Earnings
in which component is IPCI going to show some reliable support in order to say compliant ?
Wmike, I believe the daily short interest is reverse engineered via some algorithm, but I wouldn't put too much attention into it.
There is no reliable source of daily shorts data.
What we can be sure about is that volume has been strongly increasing. Usually it precedes price movements...but we do know by experience ipci is a heavely manipulated stock
Samsa, I believe that's the point...someone was moving something somewhere...the question is somewhere IN or OUT.
Time is running out.
...and nobody has real trust anymore in Odidis
IPCI ownership update - as per Bloomberg 1 june 2018
Anson sold 787'946 shares - now has less than 5% of ipci (2.2Mln shares)
First Foundation sold 480K shares, now down to zero (10k shares)
Sabby as well is totally out.
Armistice still holding 19.75% (or 8.6Mln shares)
This positions are referred to 31 march 2018.
Institutionals reducing at historical low prices is anything but good...for whatever reasons they did it...it is not good at all.
we are walking on thin ice
Well, we all see which were the effects of the last 3 offerings.
Besides if they go that route they will necessarily have to make a reverse split to stay Nasdaq compliant.
But assisting to another offering of maybe further 5mln $ when the odidis earn 4mln together it would be outrageous...but perfectly in line with their style
Blue, I have no idea what has been really going on with Purdue.
A while back I posted Purdue revenue deriving from Oxycontin to show how small ipci is for them...a couple of weeks of revenue enough to buyout ipci. Odidi should have partnered with them before NDA filing. But the settlement-pqrtnership solution could still be a viable solution.
Just hypothesis on my side, trying to answer what kind of solid elements could have ipci presented at the Nasdaq hearing.
I do not buy they just said they are running some studies which could eventually be approved and eventually sold maybe via a good partner.
2 possible/feasible deals:
Regabatin
Settlement with Purdue + partnership for Oxy
But you know...ipci doesn't really like the partnership route...so I have not illusions
I don't believe they showed Nasdaq committee just that they are progressing some studies...I guess they had to write down that they expect to receive X money (from licenses, partnerships, whatever) plus a credible projection of revenue.
But when it comes to increase share price they have to deliver deliver deliver... manipulation is not going away with some promises
Samsa, we have a life line until 28 of sept.
Either Odidi wants it or not, for the first time he has to take time into account...or at least he should.
Make or break...less than 4 months left
After watching a further demonstration of how this stock is manipulated, ipci investment is now assuming the same profile of a roulette outcome...just hope it won't turn out it is a Russian roulette.
Samsa, ipci has finally until 28 of September to try to put an end to this manipulation.
They decided to stay blind for a very long time, now they are forced to act.
I believe it is up to them now; a couple of well done agreements would likely solve the problem.
ANDAs approval will help a lot, but it looks like a black hole without knowing about CRLs and FDA further requests.
It is as weel very likely that we will know well in advance of the 28th if they are gonna make it...the big boys will go for the exit as soon as they realize that ipci won't be able to deliver.
Good luck to everybody
you are right tilator...if they didn't bullshit us we will see 2 ANDAs approvals in short term (hopefully the Seroquel nightmare won't be repeated).
Oxy partnership
Regabating partnership
Prodras partnerhip
IF they accomplish on the above by year end a very strong reprice will occur...but we have an IF with Odidi's face.
right now we are at a turning point: if management delivers what they indicated in the list at the beginning of the year we will be witnessing a strong repricing.
otherwise...we long time investors are dead.
I am quiete sure that some instituions will force a governance change and an end to the family run business approach. Amina earning as Isa is outrageous.
Now let's give them the last "vote" of confidence
I believe what is unacceptable here is that the COO earns as much as the CEO.
It is already difficult to see the founder of a company which increases its salary while failing in delivery (2017) and running out of cash.
It looks like an insult to realize that the COO, which is the CEO wife, has the same compensation package as the CEO, inventor and scientist.
Let's hope they deliver something important within mid year...otherwise a new offering will be made just to pay the compensation of the two. sad.
Last offering it's not even enough to cover the Odidis family total compensation. We can desume for sure every big institution which is looking into ipci has this as a RED FLAG.
I am not debating anymore, but I believe everyone here has now a clear idea of why they do not care about shareholders.
I recently INCREASED my position just to average down; I will run like hell if by luck I reach my breakeven.
is it true ? I found on the other website unofficial numbers regarding Odidis compensations; I cannot verifiy those numbers therefore I put them with the request to the board if anyone knows or can arrive to know wether they are true or not.
hope they aren't true....because...
ok, everybody can eleborate its own considerations
Compensation USD
Name Isa Odidi
Title Chairman of the Board and Chief Executive Officer
2013 890,266
2014 874,817
2015 441,939
2016 1,397,502
2017 1,966,679
Amina Odidi
Director, President and Chief Operating Officer
2013 890,266
2014 874,817
2015 441,939
2016 1,397,502
2017 1,966,679
Yes wimike, so they are filing Bollomberg but not SEC ...I don't get it...but I don't care.
The positive here is Patient buying shows is confidence in the Nasdaq decision...and likely more than that. Would love to see him reaching much more...but it's better than nothing
wimike, you are welcome
I just go to the Bloomberg page shows company ownership summary...and today there was this futher update.
as you say it is odd I can see it on Bloomberg but still missing in official filing...anyway, Bloomberg upload the info provided with by offical channels.
Patient buying more - as of today Bloomberg is showing a further buy of 27255 shares; now total held by the CFO is 100K shares
Boyd likely has a gentleman agreement of no action until some deadline come.
Seroquel debacle is very difficult for ipci to manage; the problem with this guys is they never have a plan B.
So...if Seroquel doesn't turn us cash flow positive...what do we do?
Plus they never addressed the manipulation issue, which was evident to everyone except Odidi.
And again...this has nothing to do with being a young co....which by the way after almost 10year they are not
Blue, I just got back from an Angel investors meeting organized by the investing club I belong to.
The main pitch had a point where it was stressed many times as it is better to have an average product with a very good management than a fantastic product with poor management.
I believe ipci has potentially good products but it lacks execution.
Today I made my last buy to average down since I felt it was almost impossible to get back to where we were just one year ago.
Samsa is right when he says manipulation did an incredible damage, but going into Rexista AdComm with a partner and having Regabatin partnered even before that would have left manipulation without ammunition before even starting.
So the idea that they are a young biotech doesn't assolve them from being terrible managers.
May the force be with us
First 25k of today were mine. Just hope Patient doesn't like to throw money away....ops.. I'm shitting on the management again. lol
Good luck everyone
I put many infos on this board in the past and I elaborated many times on different strategical options, made due diligence, got in contact several times with management...and yes I have been super severe with management!
...but you are free to believe I repeated the same thing over and over.
We have a very different concept of what to expect from a listed company, that's fine with me. Each investor has his own approach.
Best to every long here (myself included)
tilator, you were right..I just needed to wait some more. Anyway, happy to see the shorters get some squeeze.
Good luck for all of us here for so long.
But I am still holding with my management assessment.
mopar44o, today you can see my point:
we have a positive PR but nobody is willing to buy a stock with a possible pending delisting.
Now, why let the stock crater if you are working on something ?
If in the future ipci will inform us that they have already initiated Prodras studies, why not informing the market?
Putting out a list of accomplishments at the beginning of the year and then not updating on anything while the stock goes from almost 1.00$ to 0.3 is not common practice for a listed co.
Discovering about possible projects in China via some twitter pictures and then having to wait several weeks before the company decided to mention something about China is not the way a listed company relates with shareholders.
Raising equity via offerings with a PR which says the cash is needed for company basic functioning while using it for strategic projects is plain false and misleading.
IPCI has an enormous potential (reason I am still invested) but the management is just not good at his job.
Wherever the price is going to end in year from now...it would have gone at 3x with a decent management...I believe everybody can agree.
let's hope they stay listed...
Mopar44o, I got your point.
But since we went from around 3$ to 0.30$ in less than a year with them not bothering to give us info and updates, but instead diluting us and asking for more bonuses at the next shareholder meeting...
...are you sure it is US shitting on them ?
Con...we are seriously risking a delisting and we know nothing of what the company is working on. They are NOT a private company
Difficult to say...truth is I don't have a number I would accept tomorrow, bacuase when I try to apply some logic I always come up with a big potential valuation.
But then I have to discount for the Odidi factor...which could even mean a Nasdaq delisting for what we know.
I put there 1.9$ just as a numerical example, to show how big is Purdue and how a different path would have lead us to a very different scenario.
Honestly, it seem impossible to see something like 2$ in the next 12 months. But if they deliver on everything on their list we could go much higher.
There is no logic in what Odidi has been doing or hasn't.
Fingers crossed for the Nasdaq hearing...
Absolutely no change...I don't even bother posting the numbers..it is depressing and never changing
Tilator, Purdue is a bulldozer...
03/31/2018 02/28/2018 01/31/2018 12/31/2017 11/30/2017 10/31/2017 09/30/2017 08/31/2018
130.10M 115.85M 128.14M 119.51M 118.95M 123.98M 122.87M 129.48M
Let's put this number into perspective, just to give a clear idea of the miserable job Odidi has been doing:
13mln mkt cap....
..during the last week of April, Purdue made 26.7Mln of sales of its Oxycontin.
They could decide to allocate 3 weeks of revenue of Oxy and take over IPCI Tomorrow morning @ 1.9$ per share.
For Mallinckrodt we need around 5 weeks of sales of its Oxy to reach IPCI market cap.
Any idea of what could do an IPCI Oxy partnership with Purdue ? And Prodras on top of that ??
But no...we have been shorted like hell and manipulated like crazy just beacuse Odidi has been looking for the perfect deals.
Blue, it's a paradox...ipci is more secretive than CIA...so who the hell can give reserved info ?
To me it cannot be true, that's why I called it a nightmare...but there is no logic in what has been happening over the last 9 months.
Let's pray the man decides the game has reached an end and unleash a flow of news.... before it's too late
Guys, who is the only one person who can be sure about what's going to happen next in IPCI ?
Who has been so far?
That... exactly that ...Is my current nightmare.
What blue says it's correct...shorting at this levels is reckless unless you know for sure the timeline of what's gonna happen (Nasdaq hearing apart)
as I was saying..since we have zero buying interest our lovely friends (the shorts) are taking the opportunity to push the price to nw historical lows...
...and the management keeps its mouth shut...
..they can't control the price...LoL
wimike, my idea is that this is a defensive positioning made by the shorts;
since they know that there is no buying interest the want to avoid the price going up with a tiny volume. Remember how the price was driven down many many times with redicously low volume ?
That is manipulation in action: drive the price as lower as possible with a few thousands dollars, and then prevent the opposite from happening.
Everybody with some "granu salis" managing a company under attack for so many times would have find a solution to this problem (from Board or Owners buying shares in the open market to announce achievement and inform the market). Odidi took the opposite route.
I agree with Samsa that, if no big news hit (which usually has been the case for this super-secretly-managed company), we stay where we are until NASDAQ hearing: then either we bounce or we take the final cut.
What is depressing is that you run a company and allow several times that someone just moving the impressive amount of 50-100K $ decides your future (yes, future, because when you have to sell 1/3 of your company at historical lows you are changing your future)
I believe Nasdaq hearing is the key to everything else.
My fear is that they will be able to present just a list of future accomplishments, while they should go there with at least one tangible result showing their story is changing ....
Also some luck with a new Anda approval would fit... although they already proved an approval for them could have zero value
"Anyone want to guess who was buying these offerings and manipulation price? "
Wim, the same guy who used to write on ipci.ca and repetead many times that his group would have driven the price incredibly down and then try to take over ipci? To show Odidi who would have been in command?
Pure guess on my side
I cannot find one single reason to decide not to inform the market about new trials (of whatever study) being conducted.
So it is difficult to me thinking about IPCI really having conducted or conducting any trials without putting out a PR; my understanding is that these are undoubtely MATERIAL INFORMATION and accordingly should be realeased to the the public in order to avoid insder trading and market manipulation. Material info HAS TO BE publicly disseminated in order to preserve market integrity. (SEC regulations)
In conclusion, if I had to choose, I would prefer ipci having broken SEC regulations but accomplished trials on the pending studies than the other way around.
but this goes back to the first question: why on hell keep your shareholders blind ?
This is Beyond my reach
Angelo, Happy to read you again.
Odidi has been acting very silently over the last 9 months to be considered a person capable to preserve company value.
Anyway I believe on the 17th we will know if the idiocy they made with the offerings to keep Nasdaq listing (but failing) will allow us to recover some of our money or not.
We are like a sport car with an enormous potential which is driven by a 15yrs boy...after a couple of difficult turns the potential risks to be definitely lost
They seem to be in abandon ship mode