wimike, LOL you are not the only one. prove us wrong. I would love it. it just appears now its business as usual however.

wimike, I totally agree. They need competent people to go before the board. I read PTIE's briefing for this round and they appeared to submit everything the FDA wanted and look how that turned out. If IPCI doe not get the power help behind I could see Rexista going the same way. even with the great IV abuse stats they did submit, the adcom still said they didnt meet that ! PTIE submitted a lot more indepth studies and they were still denied.

I cant say I followed PTIE, I just read their briefing document but IPCI better! that is what they are up against. an Adcom which does not like to approve opiods.

wimike, good question. technically a R/S does nothing. Excet for loss of fractional shares you end up with the same value you had before the split as everything is done proportionally.

However, in this case, it does indicate the company has nothing to offer that they feel will get the share price back above a dollar and they come right out and say this is their plan to meet compliance for the dollar requirement.

Which then means they must intend to dilute to meet share holder equity requirement. Becuase otherwise What happened to the Regabatin deal???? what happened with Podras???? what happened to partner Rexista????? any good news from those would result in share price appreciation as well as bring in capital.

while we can only speculate, the fact they have nothing to offer that they feel will get us to $1 is all telling. at which point yes, I can see a hit coming. add on top of that we are still waiting for 2QE to be released which we all know will show practically nothing for revenue we are screwed.

Tilator, well you will get your wish there. The R/S is only part of the equation. In order to meet compliance he will also have to dilute after the R/S . So assuming its a 10 to 1 abd we end up with 4.3 million shares he will have to sell around 1 million new shares at tgen price of between 4.50 to 5 dollars which would equal another 25% of the company. Boyd coukd end up with 45% of tge company for a mere 10 million he would have spent. At which point Odidi would loose control.

wimike, you pretty much recapped it all. We all have just lost everything already.

While we all knew this was possible, we never thought he would be this radically irresponsible. It clearly implies one thing. He has nothing.

Podras trials were to take a few weeks and be done by June. Anyone else note the timing of June 16th to report this meeting? My guess is that Podras failed. As soon as that happened he had nothing. While we were were thinking spin off or partnership, if it failed he hasn't got anything to spin off.

Generics have failed and no revenue, and Rexista is a year away. So the only thing he had left was Regabatin and he has failed to partner that for the last 2 years.

So, this plan is to R/S and then Dilute further? Because he must still raise the 2.5 million in shareholder equity. How does that meet the requirement of sustainability for the year? My guess it does not and we still get delisted. At which point, why not bite that bullet and just get delisted now.

I know how I am going to vote.

Yep, may as well start playing Taps now

wimike, not really. what if the partner agrees to buy say a 20% stake at $2 a share? that would give us 20 million up front as well as shareholder equity. or They could buy preferred shares at a higher price which would be locked and that would be restricted sell which would also then meet shareholder equity going forward? there are many ways in which a strategic partnership can work. while it may still be dilutive as it adds to the float, it may not actually "hurt" like a out right public offering does. The main thing to keep in mind is that to meet NASDAQ requirements, not only do they need to show equity as well as share price but a plan to sustain it for the upcoming year.

I fully suspect whatever they have planned will be multi-layered. its either going to be concerning Podras, assuming they did the trial and it was positive or it could just be regabatin. which we know will require a partner to help with trials.

regardless, unless Odidi is walking away and willing to give up, he needs to meet NASDAQ requirements so I am expecting it will be positive. But, he has surprised us in the past LOL

Wim, LOL it means no one knows jack squat. LOL no one is selling or shorting, and likewise no one buying. I think it is safe to say we are all in a "wait and see" mentality.

My guess with earnings to come this week. and They must notify us about the meeting by next friday, my guess is they do it in one PR.

we all know earnings will be terrible and probably worse than expected. so best way to negate that would be adding in terrific news of some strategic partnership,merger or spin off.

Doog, I was wondering the same thing. Just like they never PR'd when they filed the ANDA for Renexa. Sad really as negative news will be published but they do not see a benefit to counter it with positive news. As of now, all we know officially is they have not said they have and therefore based on previous outcomes, one has to now wonder if they are still on target to meet their refiling deadline.

2QE results should be out by end of next week. Lets hope for some updates in there. I really liked the operational update they gave in January. I was hoping that type of communication improvement would have continued.

LG, Those shares went to Boyd. He updated the 13G filing for armistice right afterwards from the shares he bought in October.

Fabius, I guess it is all in how you look at it. bigger players do not look to make the "big score" at one time. They use a short position to off set the long position.

As you point out, the current short position is at low. That tells me not a lot of people want to short the stock. Any long who is also short say 10% of their holdings is probably doing so because of the still uncertainty that looms such as delisting and being cashed strapped.

They probably have the shares to cover their own short position so on any good news they just cover themselves.

Personally, I would take an increasing or large short position at these levels as being scary rather than a stable small short position.

tilator, I think you are referring to the 72 hour rule regarding notification to shareholders of material developments.

I caution everyone and point out there are exceptions to that rule and if there are "sensitive" issues revolving around they of course do not have to PR it within that time frame. such as contract negations.

Do not forget, in this instance they did inform shareholders publicly. It is just that notice was That there will be a meeting and need for a vote. LOL

Doog, the blackout or quiet period is probably why the company is not responding to personal inquiries and why we haven't seen movement one way or the other. However, it would have nothing to do with why the meeting date is so far out. by law they must give shareholders, 30 days notice of what the meeting is about, so by July 15th they must PR it. There is of course the other requirement on notice to shareholders which also states "Or 5 days after the SOR date. so I suspect we hear after or right around the 3rd so we are ready to move after the market opens on the the 5th.

I am just not sure how to interpret the rule. if that is optional or congruent, that the notice must be within 5 days after the SOR date along with the minimum 30 day before meeting. because meetings can be held no sooner than 30 days out. I wish I knew more on NASDAQ rules.

Angelo, Yes, I noticed that about that poster. However, I did confirm it on the companies website under SEDAR filings. so it is there. as I posted to Doog. according to the rules they must send out the proxies no later than 25 days before the meeting date or 5 days after the SOR date. so we may have to wait until mid July to find out.

Thats the last trade I see as well, but no halt. with volume at 26k shares I think its just that. no buying or selling

Doog, and we may have to wait until the last minute to know. according to rules they must mail the proxies;

Full trading day today,Mopar. US is closed next wednesday however

Doog, there could still be a R/S planned but then it would have to be in conjunction with some type of a merger or corporate partnership in order to show that the stockholders equity continues to satisfy the equity requirement going forward. just to dilute to gain cash to pay the bills won't work this time.

For what it is worth here is what I found;

Doog, actually you can not even say that. They only PR'd That they commenced the Cat 2 & 3 studies for intranasal abuse. They still have to PR that they started the Oral abuse!

wim, interesting. then this is not new for them. that article went back to 2009. clearly then they are stupid enough to submit applications with less than stellar results. That is encouraging LOL.

wimike, good point. The last notice we had concerning the annual meeting where they set a SOR date clearly stated it was for an annual meeting however, it did not spell out what was being discussed. we did not know the additional board member and bonus questions until abut 3 weeks later when they announced what the proxy material would contain.

However, it was an annual meeting and one can make implications from the inference of an annual meeting. one can not make the same implications from a special meeting. so how does one buying in tomorrow have any clue if they want to buy or not?

I wish I could give some insight. My specialty was permitting compliance with state and federal regulations and contracts. not corporate structure.

Fabius, That was my point. I think even as shareholders we need to analyze what went wrong with PTIE. I can not believe they submitted studies that showed it did not work. If the studies were not good, I would hold off and not waste the application and time.

Then again, is this why Purdue did not file suit against them when they did file? did they know their product was inferior and therefore not a threat?

I still have memories of our own adcomm and where panelists pointed out that Rexista could still be injectable and totally bypassed the fact it was still better than Purdues. even to the one germane question of did IPCI prove it was IV resistant the panel said NO !

lets hope they partner Rexsita before going to the next adcom and have some top notch people there. someone who can think like a lawyer and on their feet and respond to issues as they come up.

But this is just a thought pattern I have at the moment. If no one knows for sure, I guess I will be doing some investigation into the matter and see what I come up with. But I just was a little taken back that it was such an overwhelming denial. Knowing they did submit all their tests. who would submit inferior test results?

Blue, I believe you are correct. The long lag may be due to statutory requirements.

Honestly, I think it is a toss up. I think we need to prepare for the worse and hope for the best.

Worse case, in my opinion, He is operating like always. We know they run out of money in August. We know he needs to maintain NASDAQ compliance by September. He never meets guidance or given deadlines. Therefore everything expected to take place by mid year won't occur.

His only option would be do a R/S of say 10 to 1. Get the share price to $4. Then follow that with a dilutive offering. If he needs money for say 6 months, he raises additional 6 million which at the new share price would be an additional 1.5 million shares. This also then is over the 2.5 million in shareholder equity which would be the exception to the 35 million in market cap requirement.

At that point, 1.5 million shares of the new float of only 4.4 million shares is 35% of the company! If that offer is a direct sale, It will not drag the price down too far as the shares wont be available.

Our only light at that point i hopefully Boyd is the buyer and added to his current 20% holdings he would own 55% of the company. and then hopefully he would change direction of things.

so that is worse case scenario that I come up with. so plan for the worse, hope for the best. If that is what he is faced with losing his company anyway, why not merge or spin off podras? well, Its Odidi we are dealing with. LOL

Pain (PTIE) is feeling some pain today after their adcom disaster. I actually don't follow the competition. So just wanted some comparisons for IPCI. I see the comments just state tgey rejected it because oxy can still be extracted. Is this an indication of what IPCI could expect? Or were their results that bad? I recall our own adcom and one panelist stated that our results showed rexista coukd coukd still be injectable in a 12 second window. They clearly bypassed that purdues oxy can be injected for a 35 second window. So while Rexista was better tgey hung their hat on it's not 100% fail proof. So just wondering if thst was the mind set tgat got PTIE tripped up? Or wss their drug that bad? Just trying to assess our own upcoming events lol

wimike, I did the same thing as you. I believed the hype. Then ended up putting way too much into a single position. and I am in the same boat. Being too old to be sitting with this amount of risk. But, looking back over the years I would have expected Rexista and Regabatin to be partnered long ago. Had they been, we probably would not be sitting where we are now. Enough blame to go around to everyone LOL. Lets just hope we catch that break this time.

Doog, I agree, the timeline in between the SOR date and the actual vote is a long time. If it were something bad, I am sure it would not take long to make up ones mind to vote no LOL. However, something such as a merger or spinoff is more complex. and maybe some would not agree with spinning off something as valuable as podras or they may think the price is too little. Giving a long lead time in between the dates gives the company time to communicate their reasons to sway votes.

Lets face it, after all the bad news we are due for a break here one would think LOL

Doog and wimke. I would say no. Doogs comments are accurate but a RS is not a change to corporate structure or capital structure. It adds nothing to the market cap by itself. It merely re-adjusts the common shares which I feel they have authority to do as set out under their corporate guidelines. Just like they can dilute and add to the common shares as they see fit, they could reduce the shares as they see fit under the same guidelines.

Now, I suppose an argument could be made that a RS along with a dilution would be capital structure change. But an RS by itself would not be.

But if the only issue is money as well as the need to maintain NASDAQ compliance, then why not ink a deal with Regabatin instead? clearly, they have offers which why their earlier guidance stated they hoped to begin testing by year end?

I guess we shall see, but I would hope they have better options than that. LOL

Tilator, actually, if they spun off Podras it would not be as far away as what one would think. all they need to do is then license it and the licensee could apply it as an NDA-S. all they would have to show is by adding it it does not effect BE of the base drug and then of course the safety studies. they maybe able to gain an approval in as little as couple year.

But it would allow for it to generate money for IPCI now and allow for the new company to grow at its own speed.

Don't know but I would be OK with it. I think the largest obsticle would be the contracts. once a company pays say 20 million for a license, it needs to be spelled out what drugs they could use it for. You would hate someone like a Purdue would pay 20 million for a license then use it for all their drugs. unless the new podras company gets a piece of the action for all drugs its used in. this really could be huge which is why it would make sense to spin it off.

we shall see. LOL what I would recommend and what Odidi does is totally separate. LOL

Tilator, Very expensively. They would have to cover at whatever price they could buy shares at or up to the price of the merger.

as example if say Purdue and IPCI were to merge at $4 a share, they would be forced to cover at any price below that up to that price.

Honestly, I do not see a merger as much as a possible spin off of Podras into a new company. But I could be mistaken. The mere fact Podras would apply to so many different drugs and applications. It would make sense to create a new company. That would allow it to go into debt. That company then repays IPCI for its IT. say 25 million. That would solve IPCI's cash problem without having to dilute. And along with the cash,each shareholder of IPCI get say 1/10 a share in the new company which would say IP at maybe $2 a share.

I could see that happen. That is how SUPN came into being. the parent company took the processes so far then spun off the IT into SUPN, which, those shares were then mostly held by insiders and owners of the parent company. It went on its own got its own approvals and now after 5 years went from an IPO of 8 a share to now over $55.

Wimike, Lets hope the news that they want shareholders to vote on finally stop it.

Wim, yes, but it also appears someone s willing to try and stop them LOL 40k being bid at a 42 cent floor.

Angelo, Thanks for the compliment. Just trying to eliminate the improbable and see what is left. I do not see any negative news that the company would need a shareholder approval for. The only thing the company has negative at this point is lack of money. They can fix that without shareholder approval. So I have to think its something like a merger or spin off.

Doog, There may be good reason not to PR anything yet. The SEDAR notice is a public notice and it tells us a vote will be coming. They may not want to say exactly what it is for just yet. Why? because they are announcing the record date to be a shareholder of record. why increase shareholders at this late date if you want to ensure something? One would wait until after the shareholder of record date, then announce what is intended. That way if you get a flood of new shareholders, they cant vote.

wee, here is my source the company bylaws.

wee, while what you stated is accurate, they do not need to call a special meeting to do a reverse split. They could just do it.

Angelo, I wish I could shed light on it. I know nothing about it. My guess is its either a partnership, or spinoff of Podras into a separate entity maybe as it is big enough to go it alone and do its own thing in its own pathway for multiple drugs and shareholders get an upfront payment and maybe shares in a new stock or BOD request from one or both of the big players.

Seeing how the shareholder of record date is the 28th I think we get the PR and proxy sent out early July. until then only the company knows.

fabius, you expect different? the man is a micro manger and has to do everything himself. The reason one thing gets done at a time instead of all that needs done is he is the one doing it! hes too busy working on the regabatin deal and Podras test to be worried about answering the ANDA CRLs to get them back on track. Thats why we hear nothing. Why have we not heard on the launch of the remaining HAP studies yet? probably because he was over seeing the Podras study. it is sad.

doog, that is how I read the tea leaves LOL

doog, if I were a betting man I would say it was to counter Boyd and Armastice holding. Lets face it, he would have Odidi's ear. If you had smaller but larger shareholders who wanted the same kind of influence one would need to pull your collective holdings and act as one. The only way to do that with still maintaining some anonymity is do it under a swiss bank as the bank being the custodial holder acting on their behalf.

Just a theory I have. LOL