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CCI: And the elephant in the room, when can investors expect to see your July 31st Financial Statements?
LXRP: We published our August 31 year-end financial statements on November 27 at both EDGAR and SEDAR. No surprises within whatsoever. One of the things we are most proud of is our repair of our balance sheet without resorting to dilutive financings at lower valuation levels.
CCI: Lastly, Retail Investors take particular note of the shares outstanding. Retail Investors at their leisure may look up your share count on a net and diluted basis. What percentage of those shares are in the hands or control of the principals and insiders?
LXRP: We have nearly 70 million shares issued right now and another 3 million options and slightly less than 8 million warrants issued. All of the warrants and options are currently in the money and could deliver roughly US$2.8 million into our treasury if exercised. To the best of our knowledge, existing and former directors and officers own over 20 million shares collectively, comprising just under 30% of our shares outstanding. The loyalty of Lexaria shareholders has been flattering to witness: I receive communications from people who have been shareholders of Lexaria for 3, 5, even 7 years.
CCI: Plainly … with the recent share price run up … why invest now in Lexaria?
LXRP: The increase in our market valuation was nothing more than confirmation from the investing world that our tech is validly recognized by the US Patent and Trademark Office. Even that is not fully valued until we demonstrate business income from it. Of far more interest to investors is our ability to commercialize the tech with industry partners: after all, what’s it worth until then? Lexaria is currently in discussions with more cannabis related companies with a footprint in Australia, Canada, America, Germany and Mexico, than we have ever enjoyed in the past. Not only do I think that Lexaria is significantly undervalued today, I think it is more undervalued AFTER the recent increases in price connected to the patent allowances, than it was before because our development is continually being de-risked.
CCI: Chris, always a pleasure and thank you for taking the time to bring our readers up to speed. If any of them have any specific questions, where would you direct them?
LXRP: Our communications manager is Alex Blanchard and he can be reached at 778-796-1897 or [email protected].