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wimike- Would be nice if IPCI let us in on:
1. What the rest of their plan is for NASDAQ compliance. In the proxy info it said the R/S was part of their plan to keep NASDAQ compliance.
2. What is the progress on all the items they promised in early 2018? How about a conference call where they give a progress update.
The Odidi's really have it made. $1M each per year and they pretty much don't have to accomplish anything... They have no-one to answer too. How many times have they promised cash flow positive status and not delivered? We will get 2018Q2 revenue report soon. About a year ago I think the revenue estimates were for about $4-5M per 2018 quarter. They are going to be hard pressed to hit $1M this quarter. How can the Odidi's not see they have failed to make this company real? And like E Star Capital says, the only thing they want to make sure they have is access to the capital markets. They don't develop products that generate revenue, they just say they will. And they pay all the salaries off the capital market raises. So what good is having a company of 50 people that generate pretty much no revenue for years and years. Their pipeline is failed and they are worried that if they don't stay NASDAQ compliant that they will lose access to the scumbags that do the offerings. It will be interesting to see how they spin all this. What is their next promise they won't keep?
They just filed that vote is for a reverse split.
Have a good week end Mike and all
So is it good or bad news coming?
wimike- I agree, lets hope that is not the way they are going.
Fabius- But dilution is the only way Odidi knows how to bring in cash. He has promised cash flow positive status for years, but never delivered. He cannot sustain this operation much longer unless they get to that point.
$2.5M in shareholder equity... What qualifies? Obviously cash. But what other assets and property? Would a manufacturing plant in China- if owned by IPCI- qualify as shareholder equity?
wimike- Yeah that would be sweet seeing 1M shares trading up. This type of volume can be replicated by any bottom feeder... Especially when the PPS is 50 cents.
Doog- I am just hoping Odidi is actually doing something real this time. But he certainly has backed himself in a corner and I cannot think this limits his options. I mean this $20M market cap is really killing the company. It would be nice to see him make a real move that actually benefits shareholders and is just not about self/employee preservation. Reality needs to set in that without any revenue you cannot go on funding a company of 50 freaking people!
Samsa- I like your idea but it is an absolute pipedream! IPCI has no negotiating power and for them to get $2 a share does not seem like a remote possibility in my book. Actually I see them selling off half the company for $15-20M. I think that is the position they are in. The Odidi's screwed us and we are paying the price big time. I would love to see Odidi really pull a rabbit out of his hat and turn this trainwreck around. But my trust and faith in him is at an all time low. I just feel he will do what he has to save people's jobs(especially him and his wives) while not considering what he is doing to shareholders.
wimike- How do the Odidi's justify $2M per year with their track record? They were the vision and the minds behind a failed ANDA pipeline... Time for them to get back to reality and realize they have failed IPCI shareholders in a big way. They need a huge paycut.
wimike- That is what I am sensing. A dilutive partnership or merger of some sort where IPCI gets cash to meet $2.5M in shareholder equity for at least next year. Then that would be coupled with a R/S. The market reaction will be based on what the partner brings to table other than cash...
me5519- That would be OH SO NICE OF A PAYBACK! Does Odidi have it in him to return the favor for the people that screwed with us and him? He better...
Doog- Would be nice to have those announced Friday after close and then drop a bombshell on everyone Monday morning.
Good luck to all as well! It is about time for IPCI to drop a bomb! Been a long time coming!
Freed- I know he is for real too and is not hiding behind alias'. However, it is not illegal to short a stock while posting messages on a board that you are buying. People do that all the time. It sure seemed to me that some of the timing of what he did was suspect. I do believe he held a position in IPCI. But I suspect his daily trading/shorting/etc. might not have been exactly aligned with the sentiment he posted.
wimike- The last couple weeks it appears the MM has been hesitant to sell. After watching the action for a few years, I think at least one MM like to short IPCI. I am guessing it is a naked short too that they cover when they get tipped off by one of the "trusted" individuals IPCI shares info with.
doog and wimike- In regards to him, I know he is real. I emailed him as well. Sorry but I just get the impression he was doing some of the selling we have seen. As far as a 30K buy announced on a message board. It looks to me like one hand washing the other while trying to sucker people in to buy. Then when the buying has subsided, walk it down and cover.
wimike- I have always thought Impact showed up and pumped when he was selling shares. Just my opinion, but that is why I don't think we have seen him.
Samsa- That makes sense to me.
Volume been very low at times lately... What does that mean?
Yes Mopar, I think you are right. They are in a blackout until after earnings. Which should come soon. I am sure they will be in touch with everyone after earnings comes out.
I wonder if anyone at IPCI is looking into applying PODRAS technology to longer term controlled release drugs. The market trend seems to suggest that people want to take medication less. Once a day formulations are popular now. But would it not be beneficial to be ahead of the market trend with your research? Should IPCI be looking into once every 2 days formulations or once a week formulations? It seems to me like the PODRAS concept would possibly work for longer term release formulations???
LG violet... I'd like to know too! But as far as I can tell no one on this board knows or is willing to share....
Fabius- My best guess at this point is this vote will be something to preserve the company by some combination of a merger/partnership/new equity position/sale of assets/etc. in combination with a reverse split. This will solve the NASDAQ listing problem in the following way:
1. The new merger/partnership/etc. will bring in the needed cash to meet the shareholder equity requirement for the next year. Very well could be dilutive. But here is to hoping Odidi can work this in some way that benefits shareholders.
2. Reverse split will be done to bring PPS well above the $1 per share price.
In a fantasy world I dream of Odidi having good options here, but I sense this is more an act of self preservation than anything.
Fabius- Let's hope any business decision that was made has some outside guidance from the likes of the new guys, Boyd, etc. We know in the past that every market/business decision Odidi and the BOD made... Put us in our current position... So you are right... Anything dreamed up by Odidi probably will be a half baked idea that won't produce the results we need.
Somebody just bought a bunch!
Doog- To add to that, the poster that originally posted it has no idea on what is for either.
There is no conspiracy theory with the SEDAR post. It was a past poster who has lost interest in IPCI as its taking too long... Also they forgot their login.... So they made a new one.
Angelo- Now who do you think this poster is? Was there malicious intent? Looks like they just let us know about the filing. Actually I appreciate the heads up as no one else even noticed the filing or bothered to mention it.
Doog- One would assume so. All I can think now is that Odidi has backed himself into a corner... Market cap is $15M, he has very few options... Virtually no bargaining power... Let's hope I am wrong and he has some options that do not sacrifice everyone who supported him over the past several years.
Doog- If that happens how can Odidi even justify staying with the company let alone as CEO?
blue- Agreed 100%. They need an entire new board. Leave the new guys but get rid of the old boys club... Those guys have brought nothing to the table for years...
Blue- How can Odidi even look himself in the mirror everyday... The company market cap is down to $15M and him and his wife are collecting roughly $2M in compensation each year from IPCI. That is soooo sad... Let's hope he has something other planned other than R/S couple with dilution. If that is what he is doing, he will lose control of company instantly. Well... Maybe that will be a good thing.
Lex- yes great stuff because we all know how great he is... Also because it expands just like his head.
Attilla- I think there are a couple gaps that need filling... In particular the one between Odidi's ears! LOL
Samsa- Remoxy has long history of failing. Pfizer walked away as partner years ago:
https://finance.yahoo.com/news/pfizer-walks-remoxy-end-ulterior-170000862.html
Blue- In other words, long term shareholders get the shaft. I just hope that any type of arrangement where we sell out low, Odidi's compensation is brought down to reality. He certainly does not deserve what he is making. His tech was promised to deliver revenue- which it never has. I always have wondered in the back of my head if this China venture is his backup plan. Run off to China and start new company and sell some more worthless paper... Promising the moon and delivering nothing...
blue- At this point I wonder if Boyd just plans to buy company out on the cheap and take the tech. I really don't see anything that leads me to believe he has other plans. Maybe news will come soon, showing me differently... Not yet though... I said long ago that Odidi belongs in University academia. Where you get grants to conduct research and no one expects anything. Him and his wife like to play scientist in the lab and file for patents. The problem I told Patient the company had when he came on board was that IPCI never monetizes any of its tech. That is still the case. If Odidi thinks he can couple a R/S with dilution to save company, he is sorely mistaken. If he attempts that, the company will be sold off on the cheap.
Doog- The problem Odidi has is the market cap is so low... Dilution is not really and option unless he wants to lose control of the company. If he dilutes, it looks like Armistice, etc. will be getting the whole company on the cheap. I don't really see any other outcome. So you are right. The companies future hangs on whatever they plan to do here. Odidi has proven time and time again he cannot make good business decisions. So lets hope he is listening to knowledgeable people he has access too. I do not see a R/S as a problem. The problem he has is when he couples that with dilution... Selling a third or half of the company for $5M makes no sense. The burn rate and the market cap no longer allow for that and here to hoping that some of the people that have Odidi's ear can talk sense to him.