^ What Mickey said. Cannvalate is conducting the trials on our behalf, which would've cost upwards of $3M initially estimated to run. The true cost is likely even higher, IHL is capped to only 80K per trial spend iirc as per our agreement. IHL retains ALL IP from the trials and novel formulations.
In exchange, is the Cannvalate oppies giving significant equity to Cannvalate in IHL, with options ranging from 2c-14c strike which would also give IHL $10M in cash if all converted.
So far we've seen Dr Sud convert the 2c, 3c and 4c oppie tranches with ease. Next ones are 6-14c, all out of the money at the moment. They expire December this year. Do you think Sud and Cannvalate would assume IHL SP to be lower than 14c by EOY? If so, they would've made a grave mistake.
$9M left in oppie strike value on the table, all out the money with an expiry 7 months from now. Cannvalate wants their equity, IHL wants the money to the cash balance. The timelines have been set, and it is a matter of execution from the BOD to pump out our catalysts as planned. This quarter is truly the one to watch IMO, and so is the next.
IHL Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
