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tilator, I think your ideas sounds very interesting and business smart.
you have done well to write them an email.
being very business-wise your proposal will bery likely not be considered...given it is not an Odidi idea, therefore not worthy.
As I told you in the past, I am sure you would have done a very nice job for IPCI over the last 12 months. Sad they don't even listen to "pro-bono advises"
It was jan 2017 last time Intelli did attended as a presenting company to a public event.
Clearly not the kind of promotional activity a small biotech typically has. Why aren't they prmoting themself anymore ????
Now, someone may reply that it is beacuse they pay attention to costs.
Yes, cut the VP Sales/marketing useless man and you will have the budget for 3 events a year.
Would also be nice to know how many family & friends have been working for ipci.
I believe I am preparing a detailed letter to mr Boyd...and reasearching Anson Funds as well to find a contact
you know dood, management can't do anything about shareprice...they are too busy in signing contracts, delivering results, etc
sarcasm apart, they are really risking to lose control of the company...Boyd & other Hedgies would have IPCI sold @ 1.00 in no time IF they can grab more shares at around 0.50$; in that case they would likely pass the 50% ownership with warrants.
I would really hate that, but our management needs to get moving and FAST
maybe a live in a fantasy world...
Yes Samsa, Odidi was used to some email by retail shareholders.
Now the voice will have a different weight for him.
I just hope his "I do whatever I lik, whenever I want" finally got to an end
Angelo, according to your experience was the Boyd pressure a positive factor for SPPI ?
If I remeber correctly Boyd had like 5-6% of SPPI. He now has 19% plus warrants of ipci.
I am sure if he takes control in the future he will sold the company for penauts (for us).
I just hope Odidi and BoD are enough good as you claimed in the recent past...in that case we will prosper.
In my opinion Odidi and BoD are not good at all, but maybe if they understand the risk of losing the company they will start to act considering TIME as an important variable in the equation towards success.
To me, most likely scenario, is as wim also proposed, Boyd will give until September to Odidi.
As time passes and we go into the summer without major changes and without respecting their own list of accomplishment Boyd will increase his pressure.
In the meantime he will likely speak with interested parties. He will have all possible due diligence made about ipci intellectual properties.
As August come if ipci will be in need of cash again he will buy more even in the open market...reaching 50% or more and ask for BoD removal and new CEO, by himself proposed.
In case of refusal at that point he will try to sell the company for something like 1.5$.
I know someone reading my message will think it is pure speculation/fantasy....it is indeed just a plausible scenario...nothing more.
It is clear that for us longtime holders Odidi will play a definitive role in deciding if we can recover our money. The hostile scenario won't be rich for us.
I repeat just a scenario, as the one of having a new major shareholder, which I wrote here when we were discussing about a new offering below 1$.
We all have to hope Odidi doesn't fight but accept a new order...he will then be a winner... otherwise he loses,we lose, the funds win.
The kind of "love letter" Mr Boyd can write
Interesting read
http://activiststocks.com/letters-by-activists/2015/6/3/armistice-capital-2nd-letter-to-spectrum-pharmaceuticals
thanks blue, very interesting points.
For me which I am not well founded in med/chemicals it is very helpful to have posts like this !
the 5mln just raised should be enough to arrive to...june...july ??
So before that hypotetical deadline they have to make some big progress in terms of available cash.
I believe our magnigicient CEO will adopt his preferred strategy...to wait for an ANDA approval...LoL
Maybe this time around we have a sort of incentive for the lazy managers: another offering = Armistice & co taking complete control of the company...likely Odidi is slowly starting to realize it.
..and by the way...Odidi wasn't the company owner two weeks ago, and he is even less owner as of today.
Ideally he should be start working for the shareholders from now on
Strongly agreed... LoL
" now think the IPCI board of directors should be used as test subjects for PODRAS tests... LOL... That way if it doesn't work we also solved another problem... LOL! "
Doog, in order to regain NASDAQ compliance they had to sell 1/3 of the company for 5mln.
I am sorry but I consider this move as either desperate or idiotic.
We have wrote many messages in the past trying to discern possible options to regain NASDAQ compliance without issuing new shares...
...now that they decided to go exactly the route that each of us didn't want...
everybody says there " well there should be a plan..."
OK OK
is the plan making Armistice and Anson realize some millions of profit ? they will likely succeed even if we never go back to 3$ !!!
Angelo,
"EXACTLY... IT DOES NOT ADD UP... and what I've found in life... is that when all is known... it all makes sense.
Here's a possibility that could/would possibly make it all add up.
The reason he didn't sell Glucophage to raise money is that it's a Billion $ market even in it's generic form... but there's a lot of competition. Now suppose you could break into that and capture 5% - that would be about $50 million... 10% would be $100 million... but you have to compete... so what do you do... develop a relationship with a Chinese manufacturer... and once you've opened the door with Glucophage with say, CVS or Walgreen or Rite Aid, or all of them that you will be their lowest price supplier... then add Keppra to the deal... but wait... there's more.
"
OK Angelo, and how this should ADD UP with the 30% dilution ?
The China plan you proposed is something similar to what wimusky suggested as well, and it sounds plausible.
But why another offering, totaling 5mln, just after six months from the previous one (again 5mln) ??
If they had a plan wouldn't have been much better to raise 10mln in october 2017 (issuing a lower number of shares) ?
to me doesn't seem a good strategy selling 1/3 of "your" company at historically low prices...considering the many option the had the raise cash...and yourself wrote here about more than a possibility to get money withou a new offering.
and when you see a CEO with a salary of 1mln, which earns a 12% intereset on a debenture granted to his own company, who has no interest in timely delivering (talk about hap/hal studies and Regabating partnership) and doesn't care about the share prices of "his" listed company....then you start to wonder.
I strongly hope he really does have a plan, as I do hope that his plan has a meaningful timeline ...but honestly, at this point, I am not sure that what is coming next will be coming just from his own strategy.
Sansa, even if you are mathematical my correct, I believe you don't buy almost 20% plus warrants looking at averaging down.
He decided that the story is worth a try.
Impossible to know which his targets and strategy are.
Let's see what happens and the volumes over this last week seems to suggest something has been going on.
I would add ...sign a damn partnership for Regabatin ...costs on the partner and royalties when marketed...no fantasy here
wim...the feeling (just a feeling) I get is that for Odidi is not going to end well.
Carefully reading the excerpt I get the idea the man thinks he can fight open face these sharqs.
Poor guy...they could decide the split the company and sell it in pieces and yield double of what they invested...so they win...he (and we) loose. He still doesn't get...IPCI is a listed company...the shareholders are the OWNERS, and there is now someone which has a bigger piece than him.
Why didn't he put more money himself ??
One thing I would like to underline: once an activist decides to buy around 20% of a company he will very likely be going to trigger a turnaround or just broke the company.
So what Odidi has to do is JUST PROVE he is that top manager he thinks to be and we all likely cash out sometime in the future happily.
Otherwise he will end up seeing the patents he created used by another team (and likely another company)...
not the first time not the last one.
Now let's see how SMART he is.
tilator, I agree with you.
It could indeed happen that if Odidi fails to deliver the company gets bought out via this funds taking control and selling the entire entity to..say Purdue ??
here lays the unforgivable Odidi mistake...time deosn't wait...markets don't forgive
wim, I agree with your scenario.
The BoD has likely been approached providing with a letter of "advise" on how to generate value.
Wouldn't be strange Armistice will also work on some business network to facilitate possible deals.
The positive here is that Odidi is no more the single man running his own business his own way.
doog, is there a way to attach a picture ?
...AND...
look at the lastest filing posted here..as of today...some interesting move by the Odidis...
doog,
please refer to the filings also linked to IH intelli page.
Anyway, as per Bloomberg:
Asrmistice 8'227'500 shares - 18.9%
Odidi Holdings
In the past days I wrote a coule of times about Intellectual Properties and Patents. This will be a key psicological point of negotations between the new guys and the CEO.
Armistice is an actitivist player, so by definition someone who likes to get into a company and try to influence major changes.
I fear IF Odidi doesn't change his attitude and arrogance will likely loose the company; IF they can retain the technology and patents (which is likely) Odidi will be pushed out, one way or the other.
The outcome could be a company just based on royalties, with everysingle patent and product licensed out.
this could possibly result in a share price much higher than today...but lower than 3$...depending on many factors.
Odidi made a terrible damage to the company and to our portfolios...it will be no easy to recover.
We only have to hope the man understand it could loose it all...how sad.
This is the current % based on shares on hands; warrants are not included...therefore in case of excercise this numbers will increase.
... and tilator,
yes, they are IN for a profit....sure; but I prefer to have them on my side than against me.
They will sell...sure; but given the important amount of shares the EXIT STRATEGY usually can happen in corrispondence of a dramatic change:
1 - the company turnaround and they gradually reduce while the price goes in a strong uptrend (big volume)
2 - they dump and the company gets delisted and likely won't find any other funder except small fishes
Now Odidi is no more free to fool shareholders around.
I wrote here before the offerin in 2017 that Odidi dilution at ridicously low prices would have likely led to someone trying to gain a big influence position in the company.
I wrote to Odidi well before these last offerings that he would likely have someone trying to change his company IF he had decided to issue again at historical lows.
Odidi is stubborn and blind in the terms of financial markets dynamics...he deserved this, because he just cannot be the CEO of a listed company.
If you don't care about share price...sooner or later someone is going the invite himself at your dinner.
I don't know if I will ever going my breakeven; I don't know if these funds will make the turnaround happen.
What I know for sure is that Odidi's strategy is driving us shareholders against a wall.
Armistice up to 18.9% !!
Now 3 funds hold almost 30%
Let's see how Odidi reacts now...he is just loosing the control
It is time the doctor steps aside... what a reality check has been coming for him
Considering the knowledge and experience I have with alternative strategies I believe Anson is in for an opportunistic short term (<12 months) shares repricing due to some catalysts.
They will likely dump shares if catalysts and repricing doesn't happen within their specific timeframe.
Hope we can reach a 20% institutionals ....then for many of us aleven a mega pump and dump would be fine as long as we can reach 3 dollars...I know ...it is a dream...but right now the bast...rs MM knows for sure that either its mandate is over or he just risk being crashed.
I am not turning positive until Odidi gets removed from CEO...but at least we have bigger guns to his head
Wim, After this, if I recall well now Anson, Armistice and Sabby do hold more shares than Odidi's.
Likely last offering was a single one investor.
Let's see what happens to the man...I get the feeling this guys are just a little bit more expert than Odidi.
Hope they can get some changes in exchange of Odidi remaining, likely not as a CEO
Easy answer... it's the Odidi's syndrome.
Everything that man touches reaches the "stuck in the middle" status
Impact, best news it could happen is a big partnership...but these two offerings are there to say it ain't anytime soon.
Maybe they are just hoping for a further Anda approval....it would be Odidi typical strategy...to hope for...
Let's see if someone bigger then us retailers decides it's time for the "go solo"-man to terminate his reign.
Arrogant and incompetent... that's what our CEO is
As I wrote many times already, the risk of Nasdaq delisting is becoming each day closer.
They phrased "but we may be eligible ..." And not we asked for an extension.
Don't like it.
Anyway even if they did file a request for an extension....they are good like no others at failing
I am dreaming of someone forcing the change...
Two offering doesn't sound good...but right now I don't know what to think
They are completely out of their mind. 2 different offerings whithin one week?
Is it a joke?
Both for "general expenese and salaries?
They are just buying their seats in the BoD...
I cannot see any possible positive ...
tilator, likely Lupin is well organized and much better managed than Mallinckrodt when it comes to generics.
I agree with you that generics should and could have been the solution for IPCI, giving them cash (and profits) enough to push ahead its high potential products.
The problem is IPCI is taking for ever to get their ANDAs approved, and its strategy is taking for ever to get a decent markat share once get approved.
So...they are not good at generics.
I am almost sure they got several CRL for their ANDAs, and they didn't inform investors accrodingly (likely passible of a lawsuit).
In september 2017 the said they were expecting two approvals by 2017 year end...they are just incapable of respect plans and expectations made by themself.
Now they have to CUT salaries and personnel...hope some activist will force the change
wim, company management is not an easy task and there is a multitude of examples of important changes and turnaround brought forward by new leaders.
It is not a personal attack to Odidi, it is just the wrong person to do what IPCI needs now.
He doesn't get it, it won't get, unless/until someone will force him to do it.
He should be humble and ashamed for the disaster he delivered even to himself.
wim, here is what I see looking at TRX count - QUETIAPINE FUMARATE ER
Mallinck started June 2017, AstraZeneca and Trupharma in May 2017
Lupin in sept 2017, ingenus dec 2017, Aurobindo Jan 2018, ACI Feb 2018.
Totale TRX as of 28 Feb 91.7K
market share
ACCORD 42%
LUPIN 18%
TRUPHARMA 16%
ASTRAZ 6%
Mallinck 2%
Ingenus, Aurobindo and ACI 0.30% together
in conclusion, Lupin did started after Mallinck and did extremly good.
AstraZeneca is considered for the generic ER version only
Trupharma and Astra started just a month before, but it was more than enough to gain a good margin on Mallinck
wim, a bit strange Bloomberg still doesn't show the two PR, the one saying ATM should be over and the one concerning the offering.
I don't honestly understand why, but once the offering get published we could get the usual negative market reaction.
The only positive (remote possibility) I can see is IF the new shares have been bought by 1 single institution...in this case we should see a 13G filing by monday.
in reference to your comments about mkt cap, it looks clear that a dilution of 20-25% for buying 6 months of time it seems business nonsense.
more than happy to realize they have a plan...and a good one
Wim, my feeling as well..Odidi got the message he is now risking a big kick in the ass.
In this case he is desperate ...and likely willing to go down with the ship instead of leave room for a new CEO
100% agreed Fred.
As I posted previously I believe the KEY for a potential activist to come onboard and strongly change direction is the dispute around Intellecutal Properties. They likely belong to IPCI, but Odidi would call for a lawsuit...and then stall the project.
If they can solve this Odidi will be offered the Chief Scientific Officer position or the door.
then sell each Anda for about 5mln (avg) lincense regabatin and oxy, partner Prodras....likely the company value would jump around 200mln mkt cap.
hope to know HOW to facilitate this process
wimike I understand you are leaving...and your request to doog makes me think you are about to ACT
guys you can read it whatever you want, but a 20-25% dilution (news shares+shares from warrants) to buy 4-6 months of time is JUST IDIOTIC.
I just hope that Armistice and Sabby, instead of being pissed, increase their shares up to a cumulative 15%....they know better than us how to cause change.
the wording is "investors"...
if it was just 1 it would clearly become the major shareholder...and it could prove to be very positive.
in the previous offering they made it never emerged a new shareholder...meaning they sold to the worst...hedge fund/speculators....
this to me it means just being plain stupid OR desperate
it is beyond my wildest reasoning how Odidi is running IPCI...he completely lost vision and direction...
now, if I have to loose it all...then be it...but I hope somebody will kick him out ...even if this means the end of IPCI. I am sure ANY other MANAGER would come out with a set of actions leading to doubling market cap if not more...sell all ANDAs and IP...
that is an old strategy...somebody can recall the movie Wall Street where an air company gets bought out before selling it in piaces to realize a big profit.
Impact, if you look at my msg regarding NASDAQ compliance rules you will see that an extension it is not granted.
but doing an offering to cover salaries and other expenses it is just the confirmation they don't have a clear path...last offering was 6 months ago...
the msg they are sending to the market is: we are not good at planning out business
and the market is responding: WE KNOW...THANKS !!