IGC Pharma, Inc. (IGC)

[Toxic Avenger]

They are registering shares for a future capital raise. Perfectly standard for an NYSE pharma company.
http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=12661422&RcvdDate=4/2/2018&CoName=INDIA%20GLOBALIZATION%20CAPITAL%2C%20INC.&FormType=S-3&View=html

This is just a registration statement, there is no formal filing to sell any shares. The $30 million is the registration amount, not what they will sell since, "By means of this prospectus, we are offering $30,000,000 of securities pursuant to General Instruction I.B.6 of Form S-3. As of March 30, 2018, the aggregate market value of our outstanding common stock held by non-affiliates, or the public float, was about $15,068,054, which was calculated based on approximately 26,907,240 shares of outstanding common stock held by non-affiliates and on a price per share of $0.56, the closing price of our common stock on March 29, 2018. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell our securities in a public primary offering with a value exceeding more than one-third of our public float in any 12-month period so long as our public float remains below $75,000,000. We have offered about $4,015,270 of securities pursuant to General Instruction I.B.6 of Form S-3 during the 12-calendar months prior to and including the date of this prospectus."

You are correct, this is money going to fund the company, not to the CEO.

We currently intend to use the estimated net proceeds from the sale of these securities:
·to finance the costs of marketing Hyalolex, creating a large distribution network, creating new product formulations, filing new patents and creating brand awareness; and
·acquiring, investing in, or creating joint ventures with competitive and complementary businesses, products and technologies as a part of our growth strategy (although we have no current commitments or agreements with respect to any such acquisitions or investments); and
·for working capital and general corporate purposes.
·for repayment of indebtedness.