Intellipharmaceutics International Inc. (IPCI)

[wimuskyfisherman]

Blue- What I am trying to point out is a good portion of the revenue that was seen in Q3 was from Seroquel costs plus revenue and not profit sharing revenue. Seroquel has three aspects to its future revenue:

1. Costs plus. IPCI will be paid to manufacture and supply product to MNK.
2. Profit sharing. IPCI will share in the profits with MNK.
3. Cost recovery. IPCI will be paid cost recovery $. It is not 100% clear how this will be paid but some people feel it is a higher % of profits until the predetermined amount is exhausted.

That being said here is what I am forecasting for 2017Q4:

1. All(includes all 3 listed above) Seroquel XR Revenues- $1.5-2M.
2. Focalin XR revenue- $0.5-1M.
3. MNK amortization- $75K

Grand total- $2.075-3.075M