Intellipharmaceutics International Inc. (IPCI)

[J_Cali]

Company worth
My rational for holding is as follows;

Base Pipeline Revenue ROM
Focalin=3.8m
Effexor=4.4-2.2m
Protonix=5-1.2m
Glucophage=8-4.6m
Seroquel=6-4.1m
Lamictal=1.7-1.4m
Pristiq=8.6m
revenue 37.1-25.9m(low end)
S.o. 42m
Annual cost=-14m
P/e=16
Earnings per share= 0.55 to 0.42; times pe=16 ; price $8.8 to $4.5
Factoring in rexista 14.8m in rev.
Earnings per share with base=0.63 * 16=$10 a share

Company's rev and losses would be greater if manufacturering dosages but my ROM took a simplistically approach since manufacturing cost would be reimbursed.

Conclusion we'll get through $3 once potential dilution is resolved and another couple ANDAs approved.
Jan. 11 cash balance on hand should be interesting.we were at 4.1m.....