Intellipharmaceutics International Inc. (IPCI)

[AngeloFoca]

Great catch ahasja

It's going to be very interesting to see how this is handled.

The way I read it, is that a combined 5,527,880 shares expire worthless by Sept 10 - a week from now - unless something major happens... because they certainly would not exercise the options and pay US$3.62 for a stock selling at half that on the open market.

And if there was a pop in the stock price... where are the Odidi's going to get $20,010,925.60 to pay for the shares.

Although the shares could have been specified that say the stock price is $5.00, then 5,527,880 x $5.00 per share = $27,639,400 total value of shares MINUS $20,010,925.60 cost of optioned shares = $7,628,474.40 OWED to the Odidis DIVIDED by $3.62 = 2,107,313 shares which would be issued to the Odidis, and the rest surrendered as payment for the whole amount... but I believe that it would require that the options were written up as such.

I have warrants from a private placement I did, that state that I can exercise the warrants and request that the difference between the stock price and the strike price be issued in shares - so there is no outlay of capital on my part.

Anyway it will be interesting to see how this is handled.

Also... an additional 15K options exercisable at C$2.88 and 75K options exercisable at C$3.25 expire on November 30th 2016