Intellipharmaceutics International Inc. (IPCI)

[swe77]

There can be many different ways to explain that discrepancy. The Bloomberg numbers can't be wrong. I mean it's not an accounting system. It's possible that a person who generated that report didn't use the correct filters.

The other way to interpret those numbers is to assume that the profit sharing % was decreased as the exclusivity windows had expired.

If the above assumption is correct then IPCI's profit sharing percentage decreased from 9.8% during the exclusivity window to 5.27% in July ((June $5,750,000 * 9.8% = $563500) + (July $5,190,000 * 5.27% = $273513) + (August $6,690,000 * 5.27% = $352563) = $1,189,576).

We should request a breakdown (MNK, Par) of licensing revenue from the company to be able to reverse engineer the terms of the MNK deal. It may take multiple quarters to get it right.