Intellipharmaceutics International Inc. (IPCI)

[Samsa]

Angelo, I by no means am a securities lawyer LOL Just trying to make sense out of something I never came across before.

I must admit someone made a good point. there is a foot note for the .455 cent price and the total amount. it does state its for comparative purpose only. I then re-read the entire thing for the umpteenth time and noticed the table on age 20 reduces the overall holdings of all the holders by the exact number of warrants.

so, my new conclusion is the holders of warrants gave back the warrants to the company. (this explains the reduction in holdings on page 20) The company then converts the warrants to actual shares or they are now registered where as before they were unregistered shares. This explains why they are being "held in account for the shareholders" or the owners of the original warrants. Then upon the stock price hitting the target set original strike price instead of the shareholders getting a warrant they actually get to buy an actual share. This explains why the float has now increased by the number of warrants because they are no longer considered a warrant but are now representative of an actual share. The company of course sees no money from this until the strike price is held and the shares actually turned over to the holders.

This then because the warrants now represent actual shares instead of a warrant which is just an option, now shows stock holder equity. so that along with a RS can meet compliance for NASDAQ.

so, that is now my revised "opinion". this was a new one to me to folks. trying the best I can here. But Wim or Bluelucky pointed it there was a foot note to that 455 cent price which did change things in my mind.