Intellipharmaceutics International Inc. (IPCI)

[mopar44o]

I know Dr. Isa Odidi held a promenent position at Biovail, That he and his wife both have extensive experience in controlled release drugs.

I know they got I think its 8 drugs in the pipeline submitted for ANDA filing. The big one Focalin XR which has all manufacturing and legal issues all taken care of can be done any day.

The big one thats a way off that Odidi sold me on when I met him was Oxycodone CR, their tamper resistent version.

From the discussions earlier we can estimate they're burning 330,000 a month roughly (2.5-3 million used in 3 quarters)

So upto yesterday they were probably at less than a million (not by much though) So with yesterdays infusion they proably have 4-6 months of cash.

I also know that the company has existed for 15 years and never turned a profit...

I'm just curious why they would take 1.5 million form Odidi at 12% rate when they should be able to easily get 1.5 million loan or line of credit with a rate of 4-5% that the could pay back at anytime as well.