Intellipharmaceutics International Inc. (IPCI)

[AngeloFoca]

Effective December 1, 2016, the maturity date for the Debenture in respect of the $1,500,000 loan to the Company by Drs. Isa and Amina Odidi was extended to April 1, 2017 and a principal repayment of $150,000 was made at the time of the extension. The Company currently expects to repay the current net amount of $1,350,000 on or about April 1, 2017, if the Company then has cash available

Previous extensions were for 6 month increments... however this time it's extended for 4 months... and I seriously don't think they would be closing this debenture with the cash they have on hand... which leads me to believe... that they believe... there will be some serious money coming in before April 1st.

p.s. unlike many here... I have absolutely no problem with NOT closing this debenture, as I think 12% interest is nowhere near as dilutive as issuing stock for $1.61 and/or warrants for $1.93... I had in fact hoped that the Odidi's could/would have made another loan for $5 million at 12%... but I guesss their funds are not endless.