PMI's acquisition of Asprihale may be of upmost relevance here. Aspirin (ASA) lost its patent over 100 years ago, yet PMI still acquired this fledgling company with an inhaled version of ASA anyway.
It's never been stated how much the takeover value was, but one would reasonably expect it to be many multiples upon IRX's for now paltry micro market cap.
Dr Sud is a smart cookie as all early IHL holders can attest to when he lifted IHL off the canvas although that clutz, the rugby wannabe Joel Latham seems to disagree.
In the meantime, very pleasing to avoid unnecessary dilution & receive a bonus $500k in free cash in the coffers too - which will be reinvested into the trials (and get almost half back again).
Should see us through well into the new year and give the company appropriate time to find a willing suitor to invest for the journey at the right entry point rather than screw us for a low entry to flip for a small profit the first chance they get.
All the best.
Imho & Gltah
IRX Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
