Replies to post #38172 on Intellipharmaceutics International Inc. (IPCI)

[wimuskyfisherman]

Cysonic- Here is my calculation of what the Odidi's own:

1. After the RS they owned 578K shares. Yes, they have options and debt that could be exercised and converted to shares. But those strike prices are astronomic in comparison to today's PPS. If all those were converted and exercised they would own about 1.2M shares. But like I said, they will never be exercised or converted.

2. As of today, the float is about 8.1M shares. With the shares the Odidi's own today, they own 7.1% of the float.

3. As you know there are many pre-funded warrants out there that will for sure be exercised at 1 cent(74 cents was pre-funded for each of these). After these are converted to shares, the float will be about 24M and the Odidi's will own 2.4% of the company. It is a certainty these will be exercised. Boyd/Armistice bought 6M of these pre-funded warrants I believe.

4. There is also about 17M warrants held by the buyers of the offering/pre-funded warrants that can be converted at 75 cents. If those are exercised, that will take the float to about 41M and the Odidi's will own 1.4% of the company.

As you can see, the last offering diluted everyone out including themselves. At some point, they will be turning this company over to whoever bought that offering.