Intellipharmaceutics International Inc. (IPCI)

[Samsa]

I for one, am surprised they have not made another offering by now. Its immaterial whether they do it before or after any RS as a RS is revenue neutral.

In other words issuing 10 million shares now at 32 cents would have exactly the same outcome at say a 10 to 1 RS. As long as it is a direct offering and someone grabs them, it does not place any downward pressure on the stock price and we still end up with the same in the end. 6 million shares.

so issue 10 million now and end up with 6 million shares or wait for the RS we stand at 5 million shares, in order to generate the same amount money they would have to issue 1 million new shares at $3.20.

I guess after spending 3.5 million a quarter on average I find it strange they are able to get away with only 200k since the middle of July. I would have thought we would have seen one by now.