Tuesday, April 24, 2018 3:13:32 AM
"On March 26, 2018, following disclosure of completion of two financing transactions, the Staff notified the Company of conditional compliance with Listing Rule 5550(b)(1). The conditional compliance was also based on the Company's Form 6-K filed on March 22, 2018, in which the Company indicated its belief that its stockholders' equity was in excess of $2.5 million at that time. However, as described in a Form 6-K filed on April 16, 2018, based on the Company's actual results of operations for the three months ended February 28, 2018, the Company did not believe that it would meet Nasdaq's minimum stockholders' equity requirement if measured as of the date of such Form 6-K."
They currently are NON COMPLIANT. The only hope is that something happens before the hearing with NASDAQ Staff is possibly accepted.
IPCI management is a bunch of idiots ! Look at the dates: they believed to compliant on March 22, they said they weren't on April 16. Likely there is matter for a lawsuit! Either thiefs or idiots!!
They tried to raise capital in order to meet the minimum requirements but they were not able to calibrate based on the disappearing revenue.
And remember that Patient didn't put a single dime in the company's shares...the guy is not stupid, he knows he just has to earn his salary until it will last.
Let's hope for a quick takeover, because I am feeling like Odidi is trying to run away (delisting) and stay on the dark side for a while.
Let's hope the funds keep on holding their shares.
Odidi...you are on of the most incompetent manager I ever read of.
And if (as I am starting to believe over the last couple of weeks) you Odidi, are the one holding the big short core position...then you are a scam !!
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