Indeed Ted, my hands are diamond at the moment and am following these developments with interest.
Yesterday was actually my Birthday, and a big milestone and waking up to today's price action has made my entire birthday weekend w/ a cherry on top.
Something to add that some may have forgotten, Dr Sud Agarwal our CMO and driving force behind the company has a 200M options package that vests when IHL trades at 20c or over for 5 trading days.
The strike for these options is 20c and expire September 2021, meaning that if all are vested and subsequently exercised IHL gets $40 million in the bank, enough to pay for Phase 3 trials etc and unlike a placement would land solely in the hands of Dr Sud.
So far he hasn't sold a single share and is a large shareholder of the company, I think #1 if you count his Cannvalate shares. That means there will be zero overhang of selling and profit taking from the 20c options because well, they would be owned by Dr Sud. Self explanatory. A million times better than a capital raising.
This also means we likely wont be facing down the gun of another capital raising for a long time. With our current cash balance + an additional $40M.... next CR probably will come over a dollar. I know as IHL continues to rise and re-rate we'll have some newbies here make stupid comments about CRs and funding. Link this to them.
IHL Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
