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Fabius and Numbers- Those photos and that book show why IPCI is failing. IPCI is nothing but a playground for Odidi's second rate research that moves even slower than University research.
No beeks, the NASDAQ compliance plan is likely another RS and then another round of financing. I mean he probably gets to throw a pump in here about something but that will only help facilitate the advance selling of the pending offering.
Doog- I like the idea of the forward split. But he will do the opposite. RS and then another financing.
beeks- I will more than happily eat my words if Odidi proves me wrong. But I just don't think he can or will do it.
beeks- No I am not. I hold a bunch of worthless shares. But I am pretty pissed at the way this company has been run. Go back and look at what Odidi said early in 2018 that they would accomplish. They pretty much accomplished none of it and while he bought time, he threw all his shareholders under the bus.
Fabius- I agree 100%... The Odidi's cannot make one single decision right... Time has shown every decision they make and every angle they take has been wrong!
It is unfathomable about how badly they have run this company.
They are nothing more than a garage shop bio that files worthless patents and sells worthless paper to pay their salaries and fund research that never leads to any worthwhile technology.
Odidi's new angle is now that he has new NDAs and a new area of research- Cannabis. He is going to try to use this to fund the company for a few more years.
Numbers- So why no approval of generic Seroquel in Canada? Is it maybe because it costs then to much to produce in Toronto and it is not worth the effort to see this through? Is it because they have no sales and marketing partner for this product in Canada? It looks like there may be some details they have overlooked...
Samsa- This is a non issue as everyone knows Rexista is dead and will never see approval from the FDA. If it had any chance of approval, I think IPCI would be handling it differently. Come on Odidi prove me wrong and refile NDA...
Fabius- Odidi is keeping quiet because he wants pissed off shareholders to go away quietly. He needs to have them gone by his next capital raise this summer. My guess it comes after his next RS. Now we know why he never buys any shares. He knows the PPS will keep going down until they liquidate everything.
This thing is gonna fly. With Odidi at the helm we can count on him delivering. Yes, read his biography, he was the mastermind behind Biovali and the first Nigerian to set up manufacturing in China.
I guess Odidi has no idea that a publicly traded company is owned by shareholders. For some reason he thinks he and his wife should get paid top dollar for lazy research and worthless patents.
Full Contact Yoga- Tell us more
I don't think Odidi's ego can let him go OTC. Odidi is a legend in his own mind and it will be interesting to see where he plans to go after the vultures come in and sell off all the IPCI assets. Nobody would ever give him money to run another company... Not even in China. The bottom line is Odidi did not deliver on things he said he would for years... Case in point- anyone notice Rexista NDA has not been refilled- check last company communication- it said by year end. Now it is time to pay the piper.
mess- the decision might not have been rendered at the meeting. It is possible, NASDAQ said we will consider all facts and get back to you.
Freedfish- Have not heard anything from you lately. Have you heard anything on your end? What is your take on IPCI move into Cannabis? I still am not convinced of the medicinal value and always thought the medicinal route was a ploy to pave the way for recreational legalization. So I really don't know what Odidi is thinking here other than he sees $ being thrown at cannabis stocks and he wants a piece of the pie.
Weezuhl- It seems every pop like this is met with short selling shortly followed by a 10-20% drop.
wimike- Market cap is very deceiving right now as there are many pre-funded warrants that are not included in the float. But they are definitely included in any valuation and what people are willing to pay for shares.
Agreed wimike. Supposedly Odidi did the offering to save listing... But by doing the offering he crashed the price to pretty much nothing and made getting back to $1 impossible without another RS.
Well if anyone can screw up the NASDAQ meeting it will be Odidi. He definitely has one foot out the door already. I guess he is just going to grab and pilfer what he can before he leaves for good.
inout- I don't doubt that for a second. But I have not seen anything out of Odidi that leads me to believe he is capable of turning this train wreck around. Actually I think the last offering buyers own IPCI and I think their backup plan is to just take the technology and close the company down. What do you think will happen with IPCI?
I am guessing the think tank at IPCI has a very good plan to go in and deal with NASDAQ... Or not... And just go in and beg and plead for another extension as they have so much stuff they are working on... I am guessing NASDAQ as well as everyone else is tired about hearing about everything they are working on... How about some progress IPCI?
Doog- He looks more and more like a snake oil salesman every day!
Doog- That is all IPCI is these days... Fluff... Plenty of time and money to develop/play with new ideas and concepts... But no time and money to finish everything else they started...
chainmail- you said exactly what I told someone in an email. Always late to the party and next announcement about something related to bitcoin
Fabiu- isn’t it about time for Odidi to pay for an interview to be published how he is a visionary who was behind the rise of biovail? That is ancient history... actually I think he is about to pull a disappearing act and head to China. I think he thinks they are isolated enough over there that he can hide from his past and be able to raise money from Chinese suckers. Pretty sad how Odidi has completely mismanaged this company into being on the verge of delisting and closing down.
Happy Holidays to all EXCEPT the Odidi's . May the new year show those criminals Karma and may they be relegated back to a straw hut in Nigeria...
wimike- If you are interested, I will take you walleye fishing end of March or early April. Happy holidays buddy!
Fabius- You read my mind. I posted without reading this.
Freed- I agree this is looking more like a scam everyday. Someone needs to get some litigation going that goes after personal assets of the Odidi's. I think showing that he used company funds to set up Smart Pharma Shanghai. Litigation needs to be started. Include BOD and past CFOs. Offer deals to those that will roll over. Then when you have testimony showing the misappropriation of funds. Forensic audit... Then take everything the Odidi's own personally back into IPCI.
Doog- It appears Odidi just got enough money to hold him over until he skips town. If he was sincere in what he was doing, why did he not just sell the ANDAs off and get operational money that way? Oh yeah that's right... He wants to buy them on the cheap and take them with him to China. If he thinks he can get away with that he will do that over my dead body. I will make damn sure he can not buy off a single piece of IPCI in the firesale. I really do think that everything that is going on could really drive a forensic audit. I am guessing once the ball starts rolling on that he and the Mrs are off to China or back to Nigeria.
Samsa- Anyone taking bets on whether or not they refile Rexista NDA before end of 2018 like they said? I would like to wager a healthy amount on they do not. But that should not be considered bad news. As everyone now knows that Odidi never delivers, so no reason for it to go down. LOL
Freed- I can't help to think the same thing. I really "theorize" one of two things happening here:
1. Technology is nothing spectacular and IPCI management has unrealistic goals for licensing and partnering.
2. There is a serious problem with some of the personalities in IPCI management. In particular Dr. Odidi. I just get the feeling that nobody in the industry wants to work with him because he is unrealistic and impossible to deal with.
Freed- I am wondering if during your last conversation with IPCI they mentioned anything about the PODRAS human studies that were started in the 1H2018?
Tilator- I know the class action suit is still out there. But not sure of the status.
wimike- I would really like to have a candid conversation with Dr. Odidi at this point. I mean what is he thinking about the way things went? I am guessing he somehow he feels he is not to blame for this mess. And maybe he is playing the victim card right now.
Jack- And that is exactly what I am concerned about. But I do think the class action suit was amended to include conflict of interest with Odidi Chinese company. So it is on record and he is being watched very closely. One misstep and poof... Iron bar hotel...
Trend- Indeed interesting but would they be willing to pull the plug on their development and start fresh with IPCI prototype that has not seen any clinical testing yet?
Jack and Doog- Odidi is under contract with IPCI. IPCI developed and paid for those patents on IPCI's dime. Those patents are the sole property of IPCI and its shareholders. If Odidi even tries to stake claim on any of the technology, he will be laughed out of a courtroom. There is absolutely no wiggle room on this for Odidi.
Doog- I really think part of the plan was to buy the ANDAs and then have them manufactured in China by Smart Pharma. Then all the profits will be absorbed by the owners of Smart Pharma. I think the class action litigation right now will prevent Smart Pharma from buying any of IPCI's IP. Those ANDAs will eventually be sold off. I am guessing when Odidi runs out of money in mid 2019 it will be the end for him. And the litigation will prevent him from acquiring any of IPCI's IP on the cheap.
MIKAL- At this price level somebody could by the company out with their 401K... But hopefully they are not that stupid to do it.