Intellipharmaceutics International Inc. (IPCI)

[cysonic]

wimuskyfisherman, I think you're wrong here.

Sorry, I did not notice the link is broken - so please look for yourself:

https://fintel.io/i/odidi-holdings

Click on file "SC 13D/A" from 2018-10-26. There you will find:


Item 5. Interest in Securities of the Issuer.

(a)-(b)

On October 25, 2018, there were 8,107,243 Common Shares outstanding (post-reverse split). As of the date of this Amendment No. 5, Holdings beneficially owned 578,131 Common Shares of the Issuer, comprising 6.72% of the issued and outstanding Common Shares as of October 25, 2018. In addition, as of the date of this Amendment No. 5, each of I. Odidi and A. Odidi beneficially owned 1,164,885 and 1,164,885 Common Shares of the Issuer, respectively, comprising 12.7% and 12.7% of the issued and outstanding Common Shares, respectively, as of October 25, 2018. Such amounts include (i) 578,131 Common Shares owned of record by Holdings, (ii) 248,755 Common Shares issuable upon exercise of immediately exercisable options jointly owned by I. Odidi and A. Odidi (which amount gives effect to the vesting in accordance with applicable vesting provisions), (iii) 30,000 Common Shares issuable upon exercise of immediately exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (iv) 7,500 Common Shares issuable upon exercise of exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (v) 5,000 Common Shares issuable upon exercise of exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (vi) 7,000 Common Shares issuable upon exercise of exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (vii) 9,000 Common Shares issuable upon exercise of exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (viii) 4,667 Common Shares issuable upon exercise of exercisable options beneficially owned separately by each of I. Odidi and A. Odidi, (ix) 45,000 Common Shares issuable upon conversion of a convertible debenture jointly owned by I. Odidi and A. Odidi and described in Amendment No. 2 to this Statement (the “2013 Convertible Debenture” and collectively with the 2018 Convertible Debenture, the “Debentures”), and (x) 166,666 Common Shares issuable upon conversion of a 2018 Convertible Debenture jointly owned by I. Odidi and A. Odidi and described herein.


So, this is their holdings as of October 25, 2018:

Odidi Holdings 6.72%
Isa Odidi 12.7%
Amina Odidi 12.7%


The prefunded warrants have been exercised already. Otherwise there weren't 8,107,243 Common Shares outstanding.

Imho that's the reason CFO Patient left. It wasn't a third party benefiting, it was the Odidis themselves regaining a larger part of the company. It seems they bought a huge amount of the new shares.

And therefore I expect them to do everything possible that the stock recovers and keeps its listing on the Nasdaq.


I might be wrong here. If, where is my mistake?