InMed Pharmaceuticals Inc INM

From the Inmed FB page

[Stevemin]

I'm not on the Inmed FB page however sometimes a friend of mine will send me posts of interest. The latest tidbit I reveived was from a member - we'll refer to him as "Mr. napkin math" (apparently he's the big kahuna on that site) - in which he stated that Inmed had to do this last cap raise to pay for "D & O" insurance to cover their clinical trials in the US.

Well, first off, D&O insurance doesn't cover clinical trials - it specifically covers the personal assets of "directors and officers" (and their spouses) in the event they are sued (by customers, INVESTORS, etc) for actual or alleged wrongful acts in managing the company.

Clinical trial liabiity is a different aspect all together. Any company worth a hill of beans would have long since had these coverages in place so to say they have to add it now is just ridiculous.....

I do find the timing of his post to be of interest because remember a few months ago we heard that there were a couple big investors who were really unhappy with how Adams and his band of misfits were running the company? Were those rumblings true? Are there legal issues ahead for Adams? Is that why he chose to massively dilute his shareholders again so that he would have enough cash on hand for a legal battle? 

I have absolutely no idea nor do I have any first hand knowledge, but it sure is interesting to think about given the timing of his comment.
Remember, "Mr. napkin math" knows Adams and has a direct line to Inmed so common sense would dictate that he has a vested interest in what he puts out to the masses on the FB page....

I wonder exactly what their relationship is...hmm...

[MeanGreen]

He Is owns a lot of shares in the company and I think that's as far as his interest in the company goes. I'm sure he would be open to a conversation with you if you posted on that board rather than this one.