IHL - INCANNEX - HOLDERS RESEARCH, page-15

This has been bugging me since Dr Sud converted only 20M oppies!

Dr Sud's remaining 180,000,000 Oppies (remembering that he has earned them!)

2 Scenarios

1. The Oppies will expire 30th Sept (unconverted) this may be a strategy by the good Dr
(a) to avoid any further dilution of his & cannvalate's existing holdings
(b) as well as (b) above furthermore, avoid dilution of all the other shareholder's holdings
(c) to remain under the 5% Substantial Shareholders Cap.

2. The Oppies remain "Live" meaning that there is another strategy being hatched, besides Dr Sud fully converting the remainder himself;
(a) There is a feeling that there will be high demand for the ADS on the Nasdaq, so maybe limited chance to purchase large parcels
(b) The CEO has been up early most mornings feilding queries from interested overseas investors - high-end interest?
(c) Four other U.S. investment Banks missed out on the book running, maybe other interest from other 3rd parties.
(d) Maybe be no other way to buy-in with a large quantity - without being done via "On-Market" ASX buys.
(e) There is a potential purchasing opportunity / opening for a "Substantial Holder" Off-market purchase via Dr Sud's converted Oppies?
(f) Dr Sud may get to benefit in a quick profit if he did a co-inciding conversion and "Off-market" settlement of sale to an interested 3rd party.

Let's say that there maybe some interest from a 3rd Party and that Dr Sud was interested in a cool $18M profit, whom might want a strategic interest in the company, and how much would that cost?

Let's say Dr Sud offered the prospective investor the same deal as in the proposed prospectus. ie :The VWAP for the 5 days prior to issue date was the indicitive price and the price was set at the minimum of 80% of that 5 day VWAP share value, and also that the final price will depend on the demand for the shares and an agreement between the BOD and the underwriters.



The funds required by a potential investor to gain a 16.2% holding (without NSADAQ dlution) would be AUD$58M or US $42.6M approx

I guess the next part of this whole speculative equation is, who might the 3rd Party investor be?

Who would have an advantage to be invested in IHL?
Resmed ? I wouldn't be the first here to suggest a link with them. Do they have the funds? Yes
(RESMED 30th June, 2021 - Total operating cash flow for fiscal year 2021 was $736.7 million and at June 30, 2021, cash and cash equivalents totaled $295.3 million. At June 30, 2021.)

Who else might IHL like to have a strategic partnership with, if at all?
May be a psychedelics or big pharma company?

May be, none of the above and IHL continues on it's merry way without any 3rd Party interest and the BOD build out their own new GW Pharma?

This is all specualtion!! I have got it out of my system now, sharing helps!

What's your thoughts, are you thinking that something will happen, or not with the remaining oppies?

Good luck all