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wimike- Yeah check with Impact... Last he told us big news coming and no need for a reverse split...
They are having no issues taking price down on low volume. But I do not think anyone could be buying anything of volume at this price. It is just one guy trading to his buddy as they walk it down. No interest in buying and no interest in selling.
So do we get news this week? Or will the next news be the news of dilution- probably announced after the company is back in NASDAQ compliance.
Fabius- Agreed 100%
Fabius- The HAP study results should be coming soon. When I do not know for sure but soon.
wimike- They need to meet the shareholder equity as well. Some people theorize that the over 6M in shares that are held by company accomplishes that. But I am not sure. It is something like $2-2.5M in shareholder equity needed.
So will they announce some news? Or is the company just going to wait until they get back into NASDAQ compliance. I know the shorts said they could take this below $1 again after RS. That would be a market cap of les than $5M. I don't see that as possible but we shall see soon.
Doog- Do all Purdue's abuse deterrent patents expire next year?
Doog- I am guessing Odidi has heard from many investors how poorly they think he is doing. I know I have let him know that he hasn't performed many times...
I am guessing the only product that may have an upfront payment would be Rexista. I think after HAP studies are complete, they could likely partner that with an upfront payment. Based on what we have been told, I would guess HAO studies to complete in September to November 2018 timeframe.
Tilator- I could not agree more. The mismanagement of this company and inability to generate revenue should force a management change. It is joke that keep diluting to pay high salaries for poor performance and incompetence. The Odidi loan is a win win for him. He takes little risk as debt gets paid out before common shares. He gets 10% interest. He gets the option to convert to shares at 30 cents a piece. And this money will be used mostly to pay him and his wife's ridiculous salary... Out one pocket and into the other. When is Odidiot ever gonna make a deal that generates consistent revenue? His incompetence and lack of vision is sad if not criminal.
The loan is good as it avoids dilution for a month or two. But they really need to come up ways to boost revenue an reduce costs. Step 1, cut Odidi's salaries in half. Step 2, get rid of all non-essential employees. Companies don't continue without revenue. So they need to make the hard cuts now!
Fabius and Tilator- I really truly hope we get substantial news but I just don't get the impression that is what is going to happen. Yes, the market cap has been taken to almost nothing. But these guys have been enabled by IPCI management. I feel the guys doing the short selling and manipulating are the same guys that bought offerings in past. So to stop this, Odidi needs to cut them off from offerings. So will Odidi be a big boy and take these guys on or will he just continue to look the other way and let them continue to stab him in the back.
Tilator- You must remember that they will be doing a R/S very soon. They will also need to probably obtain funding very soon. So it begs the question... Was the increase on Friday real or manufactured to facilitate short selling? Sure seems like when certain people show up saying big news coming it means people are short selling.
Tilator- Soon we should hear more about them selling to international markets. The packaging/shelf life tests should be or soon be complete. Then we should hear about the launch. This will help with revenue a little. And lets hope they have a plan in place to grow these markets/revenue.
They also need to lower operating costs. You just cannot keep burning $13M in operating costs when you only bring in $2M.
Doog- Agreed. Here is what I see happening(just a guess):
1. Company update and some good news. I don't believe we see anything too significant here, but should be news on several fronts. Let's hope I am wrong and there is significant news.
2. R/S will definitely be executed.
3. They will do a private offering. Armistice will be the buyer.
Btj- same game... Anson loves this game too and odidi has been told this.
Doog- I guess Odidi called all the shorts and told them we have some good news coming. So you best cover... It sure seems like they always have a direct line to info before it is announced. I guess that should tell everyone who is doing the shorting and who they are connected to.
For all the canucks:
The calm before the storm.
wimike- Yes bait to call in the sheep for the slaughter.
Fabius- unacceptable... But how much of it was actual cash and not options?
wimike- don't worry, if you go I will make sure have fun and a good shot at one.
Fabius- I think the total compensation for both of them was about $2M. I am pretty sure each one has a salary of about $750K. Way too much for their performance. My guess is next week we hear about progress. They like to announce on US holidays for some reason.
wimike- you should meet me for a day of fishing either next week or in September!
Fabius- That is Odidi's biggest fault- he is a micromanaging CEO that has some type of character flaw where he feels the partners are always trying to take advantage of him.
Tilator- Odidi is the king of empty promises. I am guessing those promises don't work anymore as that has been his pattern for years. Lets hope those doing offerings are saying how many times have you said:
1. we will by cash flow positive by X date...
2. we are expecting 2 more approvals in next 6 months...
3. Regabatin is an NDA...
4. we have several new products that have yet to be announced...
5. we are exploring commercial opportunities on Keppra and Gluco
Angelo- Glad to see you are still around.
I don't think bankruptcy is a threat at this point. But investors have taken the brunt of the damage here and if they don't come up with non-dilutive ways to operate, they will need to start laying off employees. Now I think the thought of that would hurt Odidi far worse than screwing his investors only. It is about his arrogance and his feelings of entitlement to take a huge salary abd keep his worthless entourage as his employees. What have you done for us today Odidi? That is the old saying in the business world... We don't care about how you claim you did so much for Biovail- ancient history. Plus, now he feel he has overstated his contributions there... I mean he was there for something like 2-3 years. Nothing more than a cog in the system.
Simco- do you know anything about bankruptcy? It is usually driven by debt. IPCI has virtually no debt, so bankruptcy talk is foolish.
TREND- Now there is a conspiracy theory... Said management is using offering funds to purchase opioid ingredients for "alleged" R&D... But in reality they are using the employees to manufacture black market opioids... Which could be sold on the black market for huge returns for them personally...
Tilator- What are Odidi and his 50 minions doing everyday at IPCI headquarters? Sure seems like nothing relevant.
Fabius- You are 100% right. But that would mean Odidi would need to get off his ass and do something for a change... Not going to happen...
Fabius- Also, if the shorts are not the ones buying, then I suspect they are throwing shares at this to keep the price down. But who knows with this POS...
Fabius- I agree that if Odidi can come up with the cash via something else, shorts will need to go get shares on open market. Anson once again has no shares... They probably went and shorted a bunch more expecting another offering. I think that has been the game all along. Buy offering to cover, then short again. Walk price down and wait for next offering to cover.
BTJ- They are always in the know because they have access to the guys that are doing the offerings and buying the offerings.
wimike- I do not think any deal could pull this over $2 at this point. Actually I do not even think a really good deal will take it over $1.
Fabius- Wake up... This is Odidi we are talking about... That guy never gets anything done... I have watched him produce nothing for years... I look back on his interviews and see him talking the same BS 5 years ago.
I hope I am wrong... If he can some how secure maybe $8M by selling off some assets. And also be able to get the quarterly revenues above $1M. That could put us in a position where there will not be another offering for 12 months. That would move shorts on to some other stock as they would feel the cost benefit is lost for 6-9 months.
wimike- I would love to see Seroquel #s improve. But my guess is that ship has sailed and they lost their opportunity. The big opportunity was immediately after approval. Personally I now only see Seroquel #s improving if they can get the cost to manufacture down really low. I don't think this happens with Toronto manufacturing... And how long have we heard Odidi was looking into lower cost manufacturing... Long enough that that if he was going to get off his fat ass and do something, those pills should already be manufactured in China, India, or other low cost country. It just appears to me that Odidi just sits back plucking the daisies while each and every opportunity passes him by.
wimike- we only need a 10 bagger to get back to pre-adcom levels...
BTJ- That's the thing Odidi does not realize... A stock drops 50% and you need 100% return to recoup... A stock drops 90% and you need a 10 bagger to breaker even... He is this brilliant, erudite... Or so everyone says... But he must not have passed 3rd grade math... Actually maybe it is 10 grade math where he grew up