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wimike- Odidi realized that there was $200K left in the bank. He had to come with a fast way to piss that money away... LOL... Actually, applying logic and reason, one would guess that there must be a damn good reason to spend $150K on this... But you must remember this is being carried out by IPCI management and logic and reason usually have nothing to do with the decisions they make or the things they do!!!!!
Cost recovery was to be paid as a higher percentage split on profits until that money is exhausted. So they have been getting cost recovery all along. A higher percentage of nothing!!!!
Keep dreaming Angelo... Long shareholders are about to get thrown under the bus and it looks like you are willing to just jump under it by yourself...
Fabius- I have not looked at it in detail, but I believe Samsa pointed out they removed a table that confused people. I think the table was the one that had an estimated price in it.
Doog - take look back at every quarterly report. They have the same thing in there for years about paying back the loan. It is boilerplate at this moment as well in the past.
My guess is offering will be announced soon. Lets get this over with and start the wheels moving on management changes.
Here is what I would do:
1. Remove Odidi and his wife as CEO and COO. I am guessing Mr. O could be CSO and Mrs. O could be his top scientist. They will do the science but have limited input on market related decisions as well as partnerships.
2. Eliminate the COO position and hire an experienced CEO to be both CEO/COO. The company is small enough this shold be one position.
3. Eliminate Akempyon. Hire a VP of Sales and Marketing. They will be responsible for sales, partnership negotiations as well as deciding what new products/markets get developed.
4. Eliminate unneeded employees/positions.
5. Hire a regulatory affairs specialist. They will be responsible for seeing all FDA applications get the proper attention. They will also be resonsible for submitting new applications.
Lets hear other suggestions. Then when another group gains controlling interest, we can lobby them for changes. We are the people who have watched the failings of this company and we can make real good suggestions. I think our time for suggesting these changes is upon us very soon...
Mopar - I think impact said many things. I thought some of those things were probably not said by the company. But 6 months ago they told me they were not worried about Nas listing as they felt they had many things that would happen that could get pps back up.
Fabius - the deal is odidi has failed on everything for years. He is undoubtedly a terrible ceo that needs to step down. Right now he is negotiating selling 20% of the company for one quarter of bur cash. How can he in good faith do that without at least attempting to cut some costs?
Angelo - odidi has failed terribly
1. He hasn't got the anda approvals on time
2. He hasn't delivered the estimated revenue as planned.
3. He has failed to partner regabatin and advance rexista.
He has failed terribly for years... How can anyone justify him staying on as ceo?
Mopar - yes I noticed that people complain either way. I still believe they need to reduce staff until revenue allows for them. I still want odidi out too. I also believe he and his wife are not critical to company. I think if they were completely gone, less expensive and better people could replace them. The problem I have is they have failed and should be paid accordingly.
Fabius- No Odidi is a fool and I am guessing he realizes it now. They talked big that share price would recover this year. But what I wonder what they are thinking now???
All I can think is price dropped to just above 30 cents because private placement with Armistice is being priced at around 30-35 cents for 10M shares. Looks to me they are going to be selling roughly 20% of the company for a quarters worth of money.
Fabius- Is that total prescriptions sold or new prescriptions that you posted?
Fabius - time for odidi to deliver results. Long overdue. Hope Boyd is moving in to take controlling interest soon.
Meant to send response to stock4ms
Doog if you put it that way you make it sound like a bad year for ipci... Lol... But really he is only doing what boss man made him do...
So will they announce an offering tonight after hours? I guess it has to be coming real soon. It looks like price already reflects it.
Tilator- I would show Akempyon the door with my foot... That guy hasn't cut one deal in years!!!!!
Mopar- I agree, the formulas are done. They just need someone to out their nose to the grindstone and finish the job.
Everybody wanted Odidi out as CEO. Now it looks like the wheels are moving in that direction. Now people are saying the company will be nothing without him... LOL . Get him out of the office and into the lab and then we are good. I don't see how that is bad now. And to say he will leave is ridiculous. This is his life's work and he will see it through. And trust me, there will be no one pursuing him for more money. Not going to happen.
Trend- I believe that is what it is coming to. I really don't think he has other options. The new guys will bring in a person or two that know how finish products and get them through regulatory. Odidi and his wife will only be involved in the conceptual phase for the most part. But for certain both will be out of the business aspect of the company. They supposedly have 20 or so NDAs they are working on. their best fit is to get these finished and ready for regulatory submittal.
Doog- I don't think it will be a problem for Boyd to get Odidi to move to CSO. I think the wheels are already in motion. He really does not have many options and he I think he is starting to realize he needs to do it to save the company.
TREND- I think Boyd will work with the Odidi's. I think that is the plan.
Tilator- Anson likes to buy to cover their short. I say cut Anson off from the cheapies and let them figure out another way. Or use the shares they own to cover.
Doog- The only hope at this point is Boyd. If he buys entire next offering there is some hope.
Fabius- For sure, shorts just taking a day off... Out spending money with their buddies from Wainwright and Anson. IPCI should cut out Wainwright and go directly to Armistice and sell the offering without paying the commission... But they won't... Because they know that at some point they may need to go begging for help selling shares.
Time to celebrate... A green day... Up by $0.0025! LOL
Fabius- 100% agreed... Same old same old wash trade down.
Samsa- I think I know what Boyd is thinking... He is thinking he will pretty much own IPCI after the next dilution. Then he can pretty much do what he wants with it. But what Boyd does be good for the little guy? My guess is no.
wimike- I am guessing he sells pretty much 25% of the company to net $3.5-4M. Just enough to kick the can down the road for 3 months. Absolutely pathetic... But I guess he wants to wipe out all the complainers and get new ownership blood in so he can promise the penthouse and deliver a card board box in the Detroit gutter!
Fabius- Would be nice to see Odidi step up and put some of his cash on the line.
Fabius- This price action really looks to me like they are negotiating their next offering price as we speak. Because they are unwilling to partner anything... My guess is 15-1 R/S and if they wait to do the offering after the R/S it would be selling 1M shares to net them $3.5-4M after commissions. So sad to see the desperation and 25% dilution to get one quarters worth of operating costs.
Angelo - if they really are testing podras with Tylenol... And they had something big... Why would they sell 25% of the company for $4m? That idiotic dilution is the sign of a company with no options... Not a company about to strike gold...
Trend- So they put that out and when it came time to actually do the work and get those things done, I guess they just sat back and took it easy... Now no partnerships, no new approvals and Odidi must sell 25% of the company to net $4M... Yes 25% of the company so the 50 plus employees and the Odidi's can continue doing nothing!
Angelo- Please call Dr. Odidi and tell him your feelings on this. It seems to me he is unwilling to partner anything and would just rather sell 25% of the company for cash to fund another quarter.
fabius- I just can't believe they do nothing. Can't they see that the more the price drops, the higher % of the company they must sell at next offering to get $4M... WOW!!!!
Trend- Yeah they will own 1% of a $10M company soon. It blows my mind they are doing nothing to try to get market cap higher before they dilute
Doog and Fabius,
Dr. Odidi needs to understand that market opportunities are fluid... Ever changing and windows are only open for so long... He was too slow and missed his market opportunity with the ANDA pipeline... Now how are the NDAs going? Pretty slow and the market knows... Review this interview from February 2017. Now how much progress has Dr. Odidi made everything he discusses here with his 50 plus employees?
https://midasletter.com/2017/02/intellipharmaceutics-ceo-dr-issa-odidi-preventing-overdose-death-oxycodone-fentanyl/
Fabius- They started the takedown as soon as IPCI said they had $200,000 in cash. Somehow they know there will be no significant news that shows revenue. Thus, they figure IPCI will raise another $3-5M very soon and give away 20-30% of the company for this. IPCI and its offerings are getting to be like a degenerate gambler... One more tranche of $5M and we will hit the big one!
I guess we just lost another 25% of the market cap.