Intellipharmaceutics International Inc. (IPCI)

[Seventh]

I was told: Del Penna reportedly was in negotiation to leave prior to the AdCom meeting. He liked his role as CFO, but he did not like his role in dealing with investors. That was not something he signed up for. He had an opportunity with another company where he could assume the role of CFO only. He is still a big investor in IPCI.