Wim, that was a funny one. "Professor Odidi is also a highly respected innovator and inventor with a long history of success."
I wonder what he classifies as a long history of success?

I have been here since 2012 and bought in at what is now $40 a share! so taking a stock from $40 to $0.53 cents is considered a long history of success?

my god.

Wim, I tend to agree. under the year that Andrew was here, we had 3 offerings and then a RS and then one Toxic offering immediately after the RS.

Any CFO worth anything, would have advised that, when they clearly had potential deals on the table and could have tried cutting costs.

My guess, Odidi pulled rank and said I am the CEO and this is what we are doing and Andrew probably wanted to try and salvage what he had left of his reputation.

just a guess mind you.

Bernstein, Just be forewarned. Everything, you point out as being a good thing about this stock is what the company has had as a good thing going for it, for years. Which, is why people like myself have a cost average of around $9 to $10 a share. So how did all those good things do for us?

Mark my words, you think it can't get any worse and 53 cents is a good price to get in. He can do another RS. Your 53 cents becomes $5.30 and we get traded back down to 50 cents again because he never follows through on anything and just continues to spend money.

The fact that 17 million shares were already paid for at a penny compared to your 53 cents, that can easily happen.

Doog, I am still here. watching this sh!t fest. I keep a lower profile because of the class action. I have to be careful what I say. I certainly can not make disparaging remarks against Odidi.

I haven't reported anything on the class action because there is nothing to report. All the briefs and responses were filed and its been in the hands of the Judge since April.

At this point he will read all the briefs and responses and then it will go the way of the Purdue case. The judge will either dismiss the case outright for lack of merit, or he will allow it to proceed and set up a scheduling hearing outlining a proposed timeline.

Then the fun begins. As you can see this is why it takes years to get anything out of a class action. you see how long the Purdue case took and that hasn't got to trial yet. once it goes to trial and you win, there most likely will be an appeal. after that, is when contact is made to shareholders to try and determine who are class members and who wants to be in or wants to be excluded.

On average, it takes anywhere from 5 to 7 years, and seeing how we are at a year and half since filing and the Judge hasn't even made an initial determination. I see 7 here. I just hope my health holds up long enough to see it through. I guess my motto will have to be "To the last I grapple with thee. From hell's heart I stab at thee. For hate's sake, I spit my last breath at thee."

Bernstein, Just be forewarned. Its as Amigo pointed out. Your entry point is effectively 5 cents a share pre-split. I have been here and rode this thing down from $40 seeing the same potential as you see now. I sold out at $10.50 and took the loss and then jumped back in at around $9.50 thinking the same thing, if Boyd just dumped 8 million into this, there has got to be something coming. And here we sit at 50 cent !

While you may have a much better entry point that most of us here, the problems still remain the same. The company has/had huge potential but the man running it, is clueless. He clearly blows every deal out there and only knows how to dilute and refuses to take pay cuts or make any material changes.

while I agree, the stock should easily hit $3 or $4 for a submission, it wont. with 23 million shares sold at 75 cents we will lucky to hit $1.50 and then it will be short lived.

The company has no other revenue expected for the next 2 years and with failing to close deals he will need to dilute further we already face delisting AGAIN if we do not see $1 by mid November.

So take it from a person who literally lost everything. if you can make 20% on your investment, get out and be thankful. if you stay in too long, you will be in the quicksand like the rest of us.

Bernstien, all I can say is you better listen to Amigo. Take it from someone who literally lost it all from trusting in this idiot of a CEO. Unless you are able to go short. Get out now before you lose your shirt. The catalysts you speak of have been here for years. All he has been able to do is dilute our savings to ZERO. Take it from someone who literally lost 300k in this sinking ship.

Getting in now you may have little risk but understand there is still more downside than upside. Potential, because we will probably get delisted anyway as the last offering was a death nail and we will probably now strive hard to just break $1. So, while you may be able to get a quick double on your investment at this point, do not stay in long.

take it from someone who literally lost it all.

92662, good question, it would be nice if they ever added in there why they are doing what they are doing. The only thing we are left with is he has no plan and just trying to keep the doors open for another year.

mopar, what a mess. but I think you are correct. these prefunded warrants and units get him the working capital for 1 year in order to meet NASDAQ requirement for the 18th.

that being said, does this mean that he has nothing that could have popped the price which could have allowed him to sell only a million shares at say $10 and he could raised 10 million dollars? so why didnt he do that? instead he does this?

Im at a loss, everytime I try and use logic to figure it out, he does something illogical. which creates a worse problem for us.

wimike, lord only knows my friend. I need just under $10 to just break even and thats after taking a 60k loss after adcomm. I kept averaging down thinking odidi can not be this stupid. and well, need I say more?

I laid out what should have been a logical plan to meet compliance and get the company back on track. even the latest choice to try and settle with Purdue I felt was because it was a requirement of partnering Rexista.

But what did the man do? continued to dilute instead of inking deals. Now he wants to sell an additional 9 million shares on our 5 million float? its crazy. The only thing I will say is that offering has not been accepted yet. It still says "up to this amount of shares".

so assuming we still only have 5 million in the float and very few available shares. I could still see that short squeeze, get the price up say above $10 then he only needs to sell 1 million shares at $10 instead of all 9 million proposed.

so our only hope is if he truly does have partners ready to ink a deal. BEFORE he dilutes.

Amherst, You are not the only one who broke all the rules. I kept averaging down month after month because I was still in at $4 a share! I was stupid enough to go from 80K shares the whole way up to 150k shares! now only 15k shares. and was never able to get my cost average at around $9.50. how sad is that.

I actually felt that we had a chance to get to $15 to $20 on news of Partnership. But then he threw the monkey wrench in and wants to dilute another 5 million shares and double the float, if that happens the best we can hope for is $10 a share.

I may break even at some point.

sounds like a golden parachute clause to me. no doubt put in because he knew the latest offering was for 50% of the company

ironically I see the top of the page this note"Thoughts and prayers for those in the path of Hurricane Michael"

I think us longs could some as well.

wimike, looks like when IPCI updated their website they took down the direct email to the BOD. I contacted them over a year ago before the litigation, to give them my opinion as to what they need to do and should be doing under their own corp guidance. But I never did get a reply back. I looked back through my emails but can not locate it right now.

well for any longs still here, it may be time to write the BOD. They are the only ones who can and should be doing something to save us.

Fabius, you and me both. I can't say much more other than duly noted and it will be used.

wimike, the good thing about a class action against the BOD is they would be brought in as individuals. I would think one could successfully argue to a court that those bonds be disposed of if they were part of the fraud? just thinking out loud here. But I if that is the course it takes I am sure that would be argued. Its no different than anyone associated with the company as a shareholder would not be eligible to partake in any class.

Wimike, who is to say they are paying the bills in order to stay open? They may be running up debt and back bills and we just do not know that yet.

Blue, do not be surprised if that is not the next class action. failure of the Board to take action.

Fabius, personally I see that as nothing but fluff. They are probably nothing more than a concept in his head. The fact is he has 2 perfectly good NDA's ready to partner and he has done nothing with them. At this point he could say he has 50 NDA's ready to go. It means nothing if he cant land a partner.

Tilator, well, it is difficult to say what goes on in his head. but here is what we know and then we draw out conclusions based on what is known.

1, We know IPCI filed the motion in court to delay the trial and the order clearly states that the Dec phone conference is to determine if the case should continue and if so to set a new date. The Judge even made a note saying this delay was 100% on the defendant (IPCI) and they will have to determine if this extends the 30 month FDA stay.

so, you have to ask why would IPCI want to delay their own product and the case?
A. They feel they may lose.
B. They want to partner the drug however the partner wants the case to go away before inking a deal because they don't want to partner a drug which will be stalled in court for years.
C. The company is out of money. they want the legal costs to end and go away. They know regardless if they win, Purdue will appeal and the legal fees continue. so your option is settle the case, promise to pay Purdue a % of profits of the drug once marketed. this ends the case. In the event you never get approval or you never get a partner you dont pay anything and you ended your legal fees.

SO, those are the three options that I see would apply as to why IPCI would want to try and negotiate a settlement and delay the case at this time.

SO what else do we know?
2. This recent free writing. now indicates the only near term revenue opportunities is commercialization of the Generics in international markets. Then it further clarifies that as being 12 to 24 months out. Nothing is mentioned about near term revenue from a partnership.

so, which one of the 3 reasons that I have outlined as to why IPCI would now want to delay or settle the case would you choose? I originally felt it was item B. Now however, it appears it could be because of Item C.

putting out this free writing clearly shows the intent is to issue this offering ASAP. IF they had a partnership lined up, would it not make more sense release the HAP results, announce a partner let the price pop to $10 to $15 and THEN dilute? they could sell only 1 million shares and raise that same $15 million. Instead it appears they are willing to sell 5 million shares at $2!

so with this new piece of information I now have changed my opinion as to what is going on. I hope I am wrong now and was right before. but the addition of this new presentation to coincide with the offering tells me they want to raise funds now at these depressed prices and not wait for a price increase, which then screams they blew all deals for Rexista and Regabatin OR they never had any in the first place.

Tilator, well all I can say is I was wrong. I formally admit it when I am.

The company just put out a free writing to go along with the prospectus. clearly, they are intending to dilute the entire amount and have no plan going forward and blew the deal for Rexista.
That is probably why they want to settle the lawsuit to stop the legal fees. They can sign a deal with Purdue to pay a portion of profits because they know it wont get to market.

They clearly state they have nothing in the near term for 12 to 24 months. so with no money expected for that long they need to raise all this money.

In other words we longs are totally screwed. we will be back up to 10 million shares and will have a difficult time to break $3 anytime soon.

Fabius, to me this suggests they want to see if they come to a settlement. The delay was instituted by IPCI. Think about it. If you had a potential partner on line, would the partner want to buy in on a drug that could be held up for years in litigation and more stall tactics by Purdue? or would it make more sense to negotiate a settlement, give Purdue a piece of the royalties and get them to drop all opposition by Purdue? That would give a green light to any potential partner.

this does not mean they will reach a settlement. However, this a delay of months. becuase the conference in December would then just set up a new court date months away. why would IPCI want to delay this further? The only reason is they want to get it settled for some reason.

The actual court order reads in part;

Impact, they actually did release good news today. Probably why the short attack. its typical. the stock goes down on good news.

So everyone is going to focus on the offering, which is nothing more than updating the previous one with numbers and miss the good news?

Weezhul, according to the company financials the debentures are handled as EQUITY with an off setting liability. This is why I keep saying that the reclassification of the arrants to shares in August will help the company meet the share holder equity requirement.

see below:

Amigo, I agree with your assertion that SHE is total assets minus total liabilities.

However, what I am not so sure of is the reclassification of the warrants to shares. If that is now calculated like a promissory note because the holders now guarantee to purchase at those strike prices, why wouldn't the shares now be considered as an intangible asset OR as part of cash and cash equivalent?

If I have an outstanding "promise to pay" I would think it would be shown on the asset side somewhere. I may be wrong here, Its just always been a theory. But I feel it was done for some reason. I admit I am not an accountant however. LOL

Fabius, I really do not understand why you continue to debate him regarding the blue dye.

As I mentioned, there is a difference between being right and wrong and wining and losing.

IPCI lost the battle with the blue dye, but that does not make them wrong. The concept of using the Blue dye was to use it for a Identifying potential abuse. A health provider or family member could use it to easily see someone was abusing the drug.

So the concept could have saved lives because of early warning of abuse. That we will never know.

weezhul, I think your words were "let me type really slow so you can comprehend"

Back in August the Company registered the previous warrants that were issued. therefore they are no longer just a warrant but an actual share. That's why they increased the share count. However they still have a strike price associated with them. so as the stock obtains the indicated strike price the holders buy the shares now instead of warrants. who wouldn't? you are guaranteed to buy a share at $6 if the price pops to say $10, who would not buy a share at $6? Oh that's right you wouldn't.

The second point was who is to say we have not met stockholder equity yet just because NASDAQ hasn't stated it? Maybe its not able to be shown until you do the financials? That may be determined with the 3QE, which is not out yet and is expected by Oct 15th so it makes sense that they granted the extension until the 18th to allow time to disseminate the 3QE. If Stockholder equity is determined in the financial report.

swe77, not really left in the dark. It appears we know what we need too. they have until Oct 18th to comply with shareholders equity or Market cap requirements to meet compliance. seeing how 3QE is due to be released by the 15th. I would say we find out then when they post that if they meet equity requirements.

so, we just do not know yet if they intend to meet that OR release news which pops the price and then we meet market cap requirements. They would not need to an additional offering as the registration they did in August would probably get them enough money if they released news which propped up share price.

remember what that did back in August. It reclassified those warrants as shares with the strike prices, so if we hit those targets which are $6,$7.50 and $12.50, those people just call in the shares and the company gets the funds.

weezuhl, LOL there is a big difference there isn't it. now who is the one who is hopeful? because no PEO has been proven yet not to dose dump is your reason for saying they wont get approved.

You just proved my comment and position. we do not know that yet do we?

The fact is, if it can only be chewed up like bubblegum and does not dose dump. the fact if upon grinding and pulverizing and grinding it stays above a certain threshold they do meet the criteria.

I agree, their assertions that it meets that criteria has not been proven yet with data and is that not the basis for the class action? they made the claim without the data. Now they are doing the needed testing.

So your assertions that it will not meet oral abuse because it CAN be chewed is erroneous on 2 counts. 1. the mere fact it can be chewed is not the issue at hand and 2, it has not been proved one way or another that when chewed it dose dumps.

Doog, well I learned years ago, there is a difference between winning and losing and being right and wrong.

One can be right and still lose. One can be wrong and still win. Such as with the blue dye, IPCI was right but because of mishandling they lost. In this case, his argument for oral abuse is just wrong.

That being said, like we saw with their IV abuse properties which were stellar when compared to Oxy, they still lost that approval when specifically asked if they proved IV abuse. So,it just goes to show even with an A1 product the result is still unclear until the decision is rendered.

weezhul, well, I guess we will know soon when they release the results. but so far your inference to my other prognostications are not quite accurate. The blue dye I admit I was wrong. It turned out to be a problem however I still stand by my assertions that it shouldn't have been. It was handled inappropriately. Podras already being in Rexista, I was wrong. However the comment was still plausible at the time. Now being a time to cost avg down, I still say and have not been proven to be wrong as of yet. A Regabatin partnership saving the day, likewise would save the day if inked, so that comment is still viable. And no Reverse Split being forthcoming, is taken out of content. I actually said if they wanted to do a RS they would have done it by now they are waiting for something. If that doesn't happen then it will be at the last minute. so I think I was proven right there in so much they did wait until the last minute , which still indicates they were waiting on some news.

On the other hand your assertions here that IPCI will not make Oral abuse because the drug can be chewed is ridiculous. You know better than that or at least should. The fact it can be chewed like bubblegum is not an issue. I already posted the guideline for oral abuse and being able to be chewed is not one of them. It comes down to how much of the drug is released upon manipulation such as pulverization, crushing, grinding etc. So as long as an acceptable amount of oxy is not released when chewed they will be fine.

wimike, I do not think there is much to the 28th date. They will go in to the meeting and they need to show they are in compliance.

I feel they are. 1. The registering of warrants to shares back in AUgust gave them stockholder equity for the 3QE. the one we are currently in. 2 The share price is now above a dollar by way of the RS. 3 the only thing lacking was how do you intend to show compliance moving forward. the latest offering shows what they can do IF they do not meet market cap or around $8 a share in 4QE actually I should say it would show stockholder equity too of 15 million IF theydont meet market cap.

so to me they are in compliance going to the meeting.
they now have all of 4QE to stay complaint. If they announce something and we pop in price they meet market cap and no longer need to show stockholder equity. so by the end of November they either have to release something that pops up the price OR they then will release that offering and by doing that they could show stockholder equity for a year.

They still need cash. so my thought is they release news. we pop in price and after that they do an offering at a higher level to get the needed cash. Then if they fail to deliver more relevant news and the price slides back below that $8 range at any given time thats when they pull out that shelved offering they just released.

That is how I see this playing out.

Trend, without specifically commenting on that case. I can say that because it is a class action, if it is allowed to proceed you will be part of the class so long as you owned shares during the class period.

weezhul, however, that is the key is it not? while it can be chewed like bubblegum as long as it doesn't dose dump, is that not the goal for a drug claiming ADF ?

again, the guidelines do not say anything that it can not be chewed. It states that after pulverizing, crushing and other forms of manipulation it has to sustain a certain rate of not releasing the active ingredient to meet oral abuse.

So, as I have said and Mopar. it comes down to what the HAP studies indicate. I say chew it all you like as long as no OXY is released above acceptable standards it would get approved, it does not matter that its PEO based.

Doog, I can not believe you fell for that BS. You and I both know better and after the results are known is the key.

Wim, I totally agree there! they need to go in prepared. PTIE had good results and they were addressing what the FDA told them they needed. matter of fact of the reasons they denied them one time was no partner!

wim, normally I would agree with you there but somehow they made that 200k stretch till now. so they may not need to raise as quickly as we would normally think.

Fabius, personally I would say the generic is stalled at this time because of MNK. we know they are selling the generic business. so would IPCI really want to get an approval, pay out a huge bonus and then let it sit because MNK doesn't want to sell it?

I think the news we get is HAP studies and they find a partner . that would pop the price and then we meet market cap going forward and then they can dilute at higher levels not needing to sell as many shares. hence the reason they only raised 500k with the last loan odidi gave the company.

thats what I am thinking

Fabius, they said that the proposed offering was part of their NASDAQ compliance but they never did say what part did they?

personally, I feel it was put in place to show how they intend to meet compliance for the next year if needed. They have to go into that hearing meeting 3 conditions. 1. market cap of 35 million OR stock holder equity of 2.5 million. 2. Share price above a $1 and 3 how to maintain compliance for 1 year.

I feel they already are in compliance with share holder equity because of the warrant reclassification back in August. I feel the RS was the how they meet the minimum $1 rule and this latest offering is how they meet the 3rd part of the equation. so they are in compliance as of 3QE.

for 4QE, if they announce something such as a partnership and the price goes above $8 they now meet Market cap instead of stockholder equity. at which point they would be in compliance for 4QE. so if they fail to produce any other relative news and the price falls below that level to maintain market cap that is when they would introduce that offering.

So that is what I feel is going on.