Ann: IHL Intends to Redomicile to US & List all Shares on Nasdaq, page-259

The part I am trying to wrap my head around, is what’s the real difference / benefit of the redomicile vs the existing dual listing, aside from the consolidation resulting in our NASDAQ share price being reset to a higher dollar figure (with less units on issue) for appearances sake & to move it further away from the dreaded $1 USD delisting threshold rule.

Buys more time? Makes the stock appear more attractive to new eyes?

What’s different this time, than when our original NASDAQ listing debuted @ $10 USD, bell ringing ceremony, up on the big screen in Times Square, etc…. Only to fizzle down to the high $1 range of where it sits today?

As others have positively pointed out, the value / market cap of the company remains the same, no matter how you slice the pie (shares on issue x share price).

My main questions are, what went wrong with our first foray into the NASDAQ & how/why do we expect it to be significantly different after this excercise? Our company was in front of the same eyes then, with the same future prospects, the same value proposition, the same product development pipelines, the same news flow released to both markets, with the same end result occurring in both markets.

Joel’s video blames it solely on the ASX price decline “dragging the ADR price down due to arbitrage” & also states they expected the ADR listing was hoped to lead the way, but didn’t, and that this consolidation move will “open us up” to new opportunities?

Myself, like I’m sure many others invested were too, have been waiting on results from the projected timelines. These timelines appear to have been missed/delayed, resulting in uncertainty.

Plus throw in the couple of curve-balls (the acquisition of APIRx, the unexpected capital raise / dilution right after telling everyone we were flush with cash), and now the entire restructuring of the company, and this just gives me more questions than answers.

So back to our original ADR NASDAQ debut - what went wrong? Did we list too early with too little substance? I remember there being talk back then of it being the perfect timing… listing there and the timing coinciding on the release of IHL42X news blowing up, which didn’t happen, as the news released was lacklustre.

The argument that the ASX doesn’t “understand” the news that was released seems mute, when the same news was also released to the Nasdaq back then, with the same result?

It feels like de ja vu, the talk now about how this will time with the release of the (overdue) IHL42X IND and pivotal trials.

Whilst I have no doubt this new move is “strategic” for the company (moving that nasdaq price away from the delisting threshold), I can’t help feel that if the company actually produced the results we are all waiting on, both markets would react positively based on that alone.

With that in mind, what is the REAL difference of this excercise?

No capital raise immediately, sure. But, absolutely it would be on the cards for the next year or so. Target market of investors; America. More appealing to new investors if your stock price is not hovering above the delisting threshold.

What’s strategic for the company & in the companies best interest is by default strategic & best interest for shareholders, sure. But I can’t help feel that attention is being diverted from the root cause of the price decline, and the blaming of “asx doesn’t understand us” doesn’t sit right with me. If results came, absolutely the asx price would have skyrocketed - it’s what we’ve all been talking about / waiting on for months / years.

If you say the news that has been released thus far “would have been received differently on the Nasdaq” - then, why wasn’t it? It WAS released on the Nasdaq already…..?

Anyway, I’m along for the ride, although slightly more jaded & cautious / less confident than I was a couple of years ago.

Would be interested to hear others thoughts on the above.