Intellipharmaceutics International Inc. (IPCI)

[tilator]

So everyone is going to focus on the offering, which is nothing more than updating the previous one with numbers and miss the good news?

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If the underwriter exercises its option to purchase additional Units in full, and assuming no sale of any Pre-Funded Units in this offering, the pro forma as adjusted net tangible book value per share after this offering would be $1.09 per share, the increase in net tangible book value per share to existing shareholders would be $1.33 per share and the dilution to new investors purchasing Units in this offering would be $1.36 per share.