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Friday, April 26, 2019 8:58:57 AM
The time to make a deal would be now but I have no confidence Odidi can get this job done. He sure has never done this in the past.
The time would be now to sell off the ANDAs and approvals but Odidi has no clue on how to run a business. It seems like he is holding onto these like they are his baby. They are not generating revenue and it appears there is no plan in place to monetize these, so sell them off...
So how toxic will this offering be? I think you got it right that he will need to raise $4-5M. But at what PPS. My guess is 10 cents but it could be as low as 5 cents or as high as 20 cents. But once again, Odidi is terrible at business so probably sub 10 cents.
Interesting fact that shows Odidi won't invest his money in an equity stake in IPCI that is at risk for dilution:
1. The Odidi loan originated in 2013. A loan for $1M @ 12% has collected roughly $720K in interest since inception in 2013. So that investment is still worth $1.72M. A gain of 72%.
2. A shareholder who invested $1M in IPCI in 2013 as an equity stake now holds roughly 40,000 shares at a total value of between $8-10K. A loss of over 99%...
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