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The Board in it latest announcement has also given shareholders due notice of it's review, whether to continue or not with it's unregistered cannabinoid oils sales, reading between the lines it is apparent that they could better spend their efforts elsewhere for the current returns.
"The Company achieved $638k of cash inflows associated with the sale of unregistered cannabinoid oils during the quarter with revenue largely remaining steady and consistent with the previous two quarters. However, as previously disclosed in the Company’s AGM presentation, the board of directors has noticed substantial and increasing margin compression in a space that is becoming overcrowded. This has resulted in significant
product discounting throughout the sector. In addition, the Company’s initial advice from its US advisors is that US investor interest is likely focused on IHL's drug development activities and its psychedelic program. These are proprietary programs over which IHL has patent protection or intends to have patent protection over aspects of the drug and or therapy. This is particularly relevant following FDA pre-IND guidance relating to IHL-675A having the potential to be a multipurpose drug. The Board will take this corporate advice into consideration and assess resource allocation to optimise high value projects versus generic unregistered products as it continues to assess the ongoing desirability of generic product sales, which are limited to only the Australian market via the special access scheme. Incannex will decide on this matter as it continues to explore its options in relation to a main board US listing."
I think most posters here would appreciate that it may be time to move on from these oil sales and to concentrate on their IP strategy.
GLAH
