InMed Pharmaceuticals Inc (INM)

[Aladdin80]

Yes, the large consolidation was required to get the SP in alignment with NASDAQ listing reqs. The issue is the SP has been down-trending since the RS was announced as every program (IntegraSyn, INM-755, etc) is delayed and further there is a chance that they may require another consolidation to remain compliant with the exchange. Here's the major issue. Cash is light so they're suspending certain non-essential R&D functions in the near-term. If the uplist and accompanying IPO is delayed they'll need to raise more cash (likely via PP) and the terms will be atrocious. Dilution at these levels will send the SP crashing even further and they'll have to deploy another consolidation to get the SP back to a compliant level for NASDAQ.

Bottom line the situation is ugly.