Replies to post #25713 on Intellipharmaceutics International Inc. (IPCI)

[Amigo Mike]

2.2 million of those options are already vested and are exercisable.

Shareholder votes has continued to push out the expiration date of these performance options. Odidi should let it die but that isn't going to happen.

The options aren't free to company. They carry a non cash cost to them. Odidi might have to pay $3.62 to exercise them, maybe. They could have a cashless exercise option. Would have to see if the original agreement is available.

addition, the Company entered into a separate acknowledgement and agreement with Drs. Isa and Amina Odidi dated October 22, 2009 to be bound by the performance-based stock option agreement dated September 10, 2004 pursuant to which Drs. Isa and Amina Odidi are entitled to purchase up to 2,763,940 of the Company’s common shares. These options were not granted under the Option Plan. These options vest upon the Company attaining certain milestones related to the FDA filings and approvals for Company drugs. The options are exercisable at a price of U.S.$3.62 per share and were to expire in September 2014. Effective March 27, 2014, the Company’s shareholders approved a two year extension of the performance-based stock option expiry date to September 2016. Effective April 19, 2016, the Company’s shareholders approved a further two year extension of the performance-based stock option expiry date to September 2018. As of the date hereof, 2,211,152 of these options have vested and are exercisable. These options were not granted under the Option Plan.

Amigo Mike