Intellipharmaceutics International Inc. (IPCI)

[Samsa]

Actually, who knows what they are doing any more. I agree, they found out the abysmal 1QE results in March as the quarter ended February 28. Hence the cash raise by mid month. However, That doesn't explain then they amount.

They gave away roughly 30% of the company for a mere 5 million dollars. If revenue is not to increase, that will only get us through 2QE. based on the report they had 3.5 million cash left, which means by June or July they are out of money again.

So do they have something in the works or not? who knows any longer. I would have thought based on the Operational update in January when they stated the wanted to start Regabatin trials by year end, that knowing the expense of that, they had a partner lined up. But clearly if they had they should have inked that deal in March rather than give away 30% of the company for 5 million.

What I find astonishing,is even if they have no control over revenue and sales as they claim, they certainly have control over spending. They have made no effort to cut costs during these times. To the contrary the recent proxy vote they want to continue the bonuses as they are. based on approval rather than commercialization. which means as of now an approval only costs us more money and puts us deeper in debt. They still spend the same 3 to 3.5 million a quarter. And they do not seem to have any ideas as to how to turn this around. If they do, they certainly are not sharing that with us.

If the only thing the company now has is hanging its hat on Rexista, we will need to dilute every quarter moving forward and by the time Rexista would be approved, our float will be closer to 100 million shares.