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likely many of the new shares will be used to cover the shorts. I wrote here in the past about this possible outcome.
then they will restart with the same strategy...with a new lower target, already knowing IF/WHEN a new offering will come.
now we have the big issue of NASDAQ compliance...
now tilator you understand me why Yesterday I asked for a removal of the board...they are driving us against a wall...bast....s
down the same % as the dilution effect...at minimum...new shares+warrants roughly 20% dilution...
hope they get removed and bought out...and break them in pieces...I will lose...but Odidi will learn it the hard way
Wainwright has been behind the shorting guys...Odidi too unprepared to understand it.
how can they regain compliance for NASDAQ? a near term deal is out of the way given the new offering...
we are in a spiral
f...ing unbelievable !
they sucks
the worst scenario is taking place.
offering plus warrants...H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.
wow...get ready for OTC
me idiot for having thought even for 1 sec that they could turnaround.
About NASDAQ compliance procedure
....
"(2) Deficiencies for which a Company may Submit a Plan of Compliance for Staff Review
(A) Unless the Company is currently under review by an Adjudicatory Body for a Staff Delisting Determination, the Listing Qualifications Department may accept and review a plan to regain compliance when a Company is deficient with respect to one of the standards listed in subsections (i) through (v) below. In accordance with Rule 5810(c)(2)(C), plans provided pursuant to subsections (i) through (iv) below must be provided generally within 45 calendar days, and in accordance with Rule 5810(c)(2)(F), plans provided pursuant to subsection (v) must be provided generally within 60 calendar days. "
....
here could stay the issue at which our magic team has been working so hard
"(D) Restrictions on Compliance Plans for Certain Deficiencies
Staff will not accept a plan to achieve compliance with deficiencies in net income from continuing operations or total assets and total revenue, since compliance requires stated levels of net income or assets and revenues during completed fiscal years and therefore can only be demonstrated through audited financial statements. Similarly, a Company may not submit a plan relying on partial-year performance to demonstrate compliance with these standards. A Company may, however, submit a plan that demonstrates current or near-term compliance with the listing requirement relating to stockholders' equity or Market Value of Listed Securities."
http://nasdaq.cchwallstreet.com/nasdaq/main/nasdaq-equityrules/chp_1_1/chp_1_1_4/chp_1_1_4_3/chp_1_1_4_3_10/default.asp
I would say that the process ain't be "pure formality" for IPCI, as some of us here wrote.
equity could be a problem ??
Remember, IPCI has a very good track record in missing and failing to deliver.
Let's pray and start thinking to OTC as a possibility (mainly due to management deficiences)
Too busy to set up something in China, not willing to disclose anything about though.
What about Regabatin...still waiting for a dream partnership?
The two more Andas approvals waited by the end of 2017???
Are they fooling us around??
Odidi likely singing on his Lamborghini...he doesn't give a crap about us
have been working in financial markets over the last 20 years...and I have never seen a listed company free falling for months without attempting major changes....notable exceptions those company who went chapter 11 or bkpt
Wim, could be...
But while we wait, at this pace we where will we end up?
Compensation would be just company shares and stock option...
Look at what is happening at the shares price....almost half of what it was when china connection leaked.
I am quite sure Odidi will be forced out...not by me ...by market forces...will this push him to abandon??? Likely. Ipci will be sold in pieces...for huge profit for those who are making it happen.
This would be a disaster for me...and I am shocked how he cannot see it coming
likely mr Boyd knows more than a good candidate
tilator,
from what you wrote here in the past I am sure - and I am very serious - that you would be a better CEO than Odidi.
the biggest problem with the man is that is detached from reality.
he doesn't understand what being listed does mean, from markets point of view, shareholders point of view, company's management point of view, speculators point of view
he is a scientist..period !
I believe that if we get took over or not ONLY depends on some legal due diligence to understand if Intellectual Property and patents are Intelli's or Odidi's....
and a judge will likely rule they are Intelli's...the drama here is that Odidi doesn't get it...at all...
and we really risk to end our IPCI investors story at ridicously low price...this is driving me crazy. and I blame just myself fot putting faith in main who doesn't give a s...t about informing those who are financing his own creature.
As wimusky pointed out we are in a situation where the makt cap likely equals ANDAs value.
so tell me why a Group of investors, a big hedge or the like shouldn't arrive, break and sell the company in pieces realizing a 100% gain for him ?
Odidi is just the worst manager ever, and the fact is managing his own company just makes the all situation more surreal.
well, we know for sure which has been the direction since july 2017...
everybody here knows that a biotech gets strongly hammered after a fail....but IPCI got hammered and then started a neverending slow fall, which is in extreme synthesis due to lack of management (at all levels).
now, what usually happens in the world of financial markets is that a very poorly manged company either fails and then disappear or face a turnaround, very often together with a change of management.
at this point do you still believe Odidi deserve to be the company CEO ?
It seems we are about to defenitely leave 0.6
Yesterday we tested it a couple of times, no it seems they are trying to consolidate lower.
but, hei, ...they can't do anything about share price...the forgot to be a listed company
Samsa,
IF they apply for extension it would be at last possible second before the deadline...just hope their main doesn't get stuck into the traffic . LoL
they just seem to not care about everything which concern the investment/shareholders world.
My last hope here is that shareholders vote in mass for a BoD removal, including Odidi out of CEO position.
they deserve being strongly kicked in the A..ss
Exactly my point...why this neverending silence?
This is getting anbsurd...Odidi's interest is aligned to ours, yes, so either he is about to unleash the hell OR he knows there's nothing he can do...and just perpetrates what it does best...silence
watch out for a new flash crash...the bast....s will likely try to break 0.6 and find a new base to 0.55 in the coming days.
It is an easy game for them
this unless Odidi decides to release some BIG news...which at the moment looks a dream to many of us and close to fantasy to others
yes but whithin the range of the last 3 months
MKN
QUETIAPINE FUMARATE ER TRX Count as of 02 march
532 previous: 509
QUETIAPINE FUMARATE ER TRX Dollars as of 02 march
358K previous 357K
QUETIAPINE FUMARATE ER TRX Benchmark Dollars as of 02 march
19.6K previous 20.2K
PAR
DEXMETHYLPHENIDATE HCL TRX Count
4.5K previous 4.2K
DEXMETHYLPHENIDATE HCL TRX Dollars
1.22M previous 1.14M
DEXMETHYLPHENIDATE HCL TRX Benchmark Dollars
966.7K previous 892K
Angelo, I am quiet sure your scenario is on some investor's table...
maybe the same one which has given mandate to the MM to drive the price down.
dirve the price down to 0.50, then launch an hostile take over @ 1.00:
- then take the company private and leave reaserch to the Odidis
- or Sell everything in pieces making ipci a royalties collector.
that is why I urged Odidi and Patient more than once to deliver some news and have the price (mkt cap) dramatically increased.
And I believe wimusky is very right about the naked shorting we have been watching on a daily basis.
exactly wim, once you have set a precedent it is very difficult allowing for an easier path to other palyers/competitors.
and look at where it is COLL now....we should send Odidi a picture of the price chart
if they will end up partnering with an equity interest...you can bet on it
I believe that the company which advised IPCI during the NDA filing process regardin Rexista should be carefully investigated:
they have been paid aound 1mln or more (I don't remember exactly) but given the lack of HAL/HAP studies and given that COLL went through AdComm presenting those studies it is surprising how this professionist couldn't see the risk in front of IPCI.
couldn't....or wouldn't ??
Poor Odidi ...in a sea of sharks ...he still sees them as placid whales
I wrote a while back, shortly after we discovered Armistice first buying.
But I never got a reply and had to use a web form on its website...therefore I am not even sure my message did reach him.
would love to have his personal email address....and sabby management as well should be conctacted.
we've got to increase preassure on Odidi.
We also have to be honest and consider that Armistice and Sabby could very likely be interested in taking a control ownership in IPCI and kick odidis down from CEO COO and get them into the labs.
wimike, I already wrote them and mr Patient that the way it is going they will end up loosing the company for the cheapies.
he just thanked me for the message
either Odidi is the best poker player of the world and he has been patiently preparing an ALL-IN play where all the shorts will be destroyed at once (we jump in a single day to 4-5)
OR
he has completely lost control of the process and he is just running out of time before his dreams is over.
I consider unfair that
they never provided with a revenue split between focalin-seroquel
I consider redicoulous that
IF they did pay in advance for new oxy studies they didn't inform shareholders
I consider outrageous that
in one of his rare interviews Odidi talks about many other project his running but nobody knows about it
These are examples of how the Odidis doesn't give a s....t about shareholders, and if there is the option to sacrifice them he wouldn't be so difficult for him to issue new shares and disintegrate our investments (becoming himself a minority interest in the co...but I am not sure he understands the risk...and honestly he would deserve it)
tilator,
what I wrote you is indicated in the schwab for those shares which "are paid for in full and settled"
in the meantime..while our wonderful management is deciding which coulour is better for the next pill ...we touch evry single day new historical lows.
unbelievable
tilator, if you close your account the lent shares have to be given back by the shorters.
but check if you can just OPT OUT from the portfolio positions lending...it should not happen by the default, but only it you have requested for such an option
Day after day...new lows...
I have no more words... except bad ones
for what I can say...
1 - nothing
2 - no
wim, I think your suspect could be proven true.
It is undoubtful that info get leaked out...so best candidate is the outsourced IR...
but then comes the question...why on earth ipci is so secretive about everything, so maniacally silent...and then the IR is outsourced....don't believe cost is a sufficient answer. it is pure nonsensical
PS
Everybody can count me as having contacted Odidi and Patient expressing my strong opposition to a further dilution and suggesting to sign some deal at the soonest
tilator I am not going to bring up my example again...but I would bet that you can close a short for a delisted company even if it is a going concern.
I stressed I wasn't making comparison, but just illustrating how complex are markets when you see a true disconnect between price action and company's health.
Shorters are likely betting on a new offering to buy new shares issued and cover their short. around 1mln shares MORE shorted between sept and now ...avg price likely around 1.5$..close at say 0.50....a hell of money with very low effort (just computer trading).
danger I fear? to name 2:
1- ipci announcing a new offering...and let the game...REPEAT
2- somebody taking an control ownership interest e forcing the company to merge at ridicously low prices (even with a premium)
I am sure everybody is here to make money, but if the price just goes down AND the company DOES NOTHING it is going to end badly...
...otherwise you will have very interesting buying volume at these very levels.
IPCI DOES HAVE what is needed to end this spiral...but they just want MORE MONEY from the agreements they have been offered...and competition out there is definetely not waiting for IPCI to do it its way.
tilator, I am sure you would manage the ANDAs and generics much better than IPCI...most of your points and suggestions make a lot of sense...but we have a serious disconnect (share price - company developments) and company needs to step up.
you missed my point, I agree with what you just wrote...
...the point is you can short and cover even if delisted (if you know how to do it).
some financial players don't give a crap about the business, if they see they can do a big bunch of money shorting/longing a stock to incredible levels without anyone able to counteract...they will do it.
the case I told you was about a bank, they did have rvenue, but they has bad loans and need to restructure to comply with the financial regulator.
such a case never happened before in the specific jurisdiction.
I strongly agree with you that IPCI shouldn't be at this level and that ANDAs could solve cash needs...but either the company deliver a BIIIGGG partnership or we are in serious danger.
one other point: a typical way shorters close their short is trhough buying a new shares being offered...in this case you can see more clearly where we are risking to go.
I can tell you about a specific case, but within a European jurisdicition:
- BPER is company trying to adjust its balance sheet receives a take over offer
- the management rebuffs it, deeming it too low
- the suitor seems to be ready to increase the offer
- but this doesn't happen
- BPER free falls and gets halted (by the regulators due to balance sheet compliancy issues)
- from that moment it never traded again, because after a period of suspension it filed for bankruptcy
...but here is my point:
we discovered that DURING the takeover offer, a financial institution opened a big SHORT position against BPER (apparently a suicide)
the SHORT was closed 1 year later, in front of lawyers, far away from financial markets where BPER was no longer listed since 12 months. the financial institution made a monstrous gain (from 0.91 to 0.05)
the SHORT is a contract...and as such can always be signed if two parties agree.
conlusion:
it is very very complicated to understand who/how somebody has to gain when it comes to speculative-complex-financial transactions.
I am DEFINETLY not saying this is the case for IPCI, but just want everybody to write and phone the company to make them open their eyes, beacuse we are in serious danger. I did it, more than once.
One cannot keep on feeding your roses if an hurricane is approaching...you to find a solution to protect them
everything is possibile in terms of financial markets dynamics
blue, I believe that MKN should try to perform on Seroquel sales because when you put something up for sale you want to show it under the best possible light...so deliberately having a non performing contract it is not a smart strategy.
maybe one day we will read that MKN has secured one major channel of sales for the Seroquel...just hope the price doesn't dive on the news (LoL)
Short Interest as of 15th Feb: 2'181'236
+356'840 shares vs previous 2 weeks...just to have a clear idea of what is going on: they are heavely shorting considering avg daily volume and considering we are each updating new historical lows.
The number of shares short have been constantly increasing since sept 2017
tilator that is the game....while we wait for ANDAs to be approved or for our generic partners getting their job done...we just get crushed.
this is no more sustainable and tells there is a clear design.
what you are stressing out about ANDAs importance is something I agree on, and likely something many of us considered as a strenght when decided to get onboard, the problem is that we don't have much time left...(cash)
and ipci proved to be very very bad in managing andas applications and contract agreements.
Tilator,
Seriously do you think we are not under attack?
Possible interested parties in having the price depressed:
- any interested partner
- any competitor
- any activist hedge fund
- any hedge fund active in death spiral financing
Having ipci delisted?
- Purdue
- anyone interested in buying just some pieces of ipci and not the entire going concern
Impact, I believe Odidi is in good faith, he just doesn't want to understand financial markets dynamics can sometimes be devastating for a listed company.
The Board doesn't get... financial markets is about time...time is money....they seem to be in slow motion in a world of pure speed.
I need a 5x just to break even. I don't see the light at the end of the tunnel.
Anda approvals look like a failure, Andas pending approvals look like a bad joke.
Why on earth don't they change their approach and attitude?
One way or the other, bad luck or not, they just seem to be always on the wrong road