Just concerning the capital raising part that was mentioned by
@DaveFisher
And to balance any perceived urgency to raise funds via the IPO that has now been withdrawn.
Also for the record for those that visit this forum and want to falsely plant the seed to new investors, we need to raise more cash etc.
This post is meant to present the FACTS as a balance that would not have otherwise been included in that false narrative.
"As of June 30, 2021, we had cash of A$9,123,617 (or US$6,859,135).
In addition, we received proceeds of A$16,129,282 million from the exercise of options between July 1 and October 31, 2021.
As a result of these option exercises, the Company’s cash as of October 31, 2021 increased to
A$25,252,899,
which we believe will be
sufficient to fund our current operations until at
least 2023.
Following the completion of this offering, ( that was the IPO - approx $AUD35M ) we believe our cash, together with the net proceeds of this offering, will be sufficient to fund our
current operations until at least 2026. (
IMO Joel will offer current Shareholders Bonus Options to the equivalent value of the now withdrawn IPO, which will nicely balance and continue to validate this forecast)
In particular, we estimate that such funds, together with such existing cash, will be sufficient to enable us to
advance our clinical trials to the point where all programs have completed pivotal Phase 2 trialsor
two programs have completed pivotal Phase 2 trials and one program completed a Phase 3 clinical trial.
The specifics of which trials are progressed first will depend on clinical success.
At this stage, we anticipate that the OSA, RA, and IBD will advance the quickest.
Funds for additional Phase 3 trials will be raised through future capital raises.
It is estimated that completion of all six clinical development programs will cost approximately A$200 million."
https://docoh.com/filing/1873875/0001213900-21-063993/IXHL-F1A
So IMO if we raise circa AUD$35 via the new Shareholder Options Bonus, which would replace the cash previously to be raised via the IPO, then we will have sufficient cash until at least 2026. And there is no urgency to implement the Shareholder Bonus Issue because the current cash on hand will be sufficient until at least 2023.
I do agree with the view that by the time we progress to Phase 3 trials for all six development arms, we will have Big Pharma knocking at our doors with so much cash, raises well maybe? not required?
Now if there is still some doubt in some investors' minds or any perceived vulnerability with IHL in terms of raising cash.
This is the bio of our IHL Chairman
Troy Valentine has been Chairman of the Board of Directors since December 2017.
Mr. Valentine is a finance professional with managerial and Board experience spanning over 27 years. He commenced his career with the Australian brokerage firm Hartley Poynton (now Euroz Hartley’s Limited) in 1994 before moving to Patersons Securities (now Canaccord Genuity) in 2000 and subsequently became an Associate Director. During his time at Patersons, he was responsible for managing both retail and institutional accounts.
Mr. Valentine has significant corporate and capital raising experience, especially with start-ups and small to mid-cap size companies. He is currently a director of Australian boutique corporate advisory firm Alignment Capital Pty Ltd, which he co-founded in 2014.
Please don't underestimate the experience of this IHL BOD and its ability to plan, forecast, or raise capital as and when it is required in the future. Please do your own research before taking any action based on the falsehood that IHL may not have the ability or capacity to fund trials.
GLAH's
