Can I dish out delayed consumption to my whole party?
When you consume this extract, you quickly consume another extract of your choice-this second extract’s effects do not come into effect until a later point. You must consume this second, companion extract on the round following delayed consumption or waste the extract. The companion extract can be no higher than 4th level, and you must pay any costs associated with the companion extract when you consume it.
At any point during the duration of this extract, you can cause the companion extract to take effect as an immediate action. You can only have one delayed consumption in effect at one time. If a second is consumed, the first is dispelled without any effect.
Here some text about extracts:
In many ways, they behave like spells in potion form, and as such their effects can be dispelled by effects like dispel magic using the alchemist’s level as the caster level. Unlike potions, though, extracts can have powerful effects and duplicate spells that a potion normally could not.
An extract is “cast” by drinking it, as if imbibing a potion—the effects of an extract exactly duplicate the spell upon which its formula is based, save that the spell always affects only the drinking alchemist. The alchemist uses his level as the caster level to determine any effect based on caster level.
When the alchemist creates an extract, he can infuse it with an extra bit of his own magical power. The extract created now persists even after the alchemist sets it down. As long as the extract exists, it continues to occupy one of the alchemist’s daily extract slots. An infused extract can be imbibed by a non-alchemist to gain its effects.
My GM says no since the spell says "You can only have one delayed consumption in effect at one time. If a second is consumed, the first is dispelled without any effect." Saying "you" refers to the creator of the extract, meaning there can be only one instance of delayed consumption per alchemist.
While I think "you" refers to the drinker of the extract, meaning every person/creature can have one instance of delayed consumption even if they are all provided by the same alchemist.
The spell gets exactly duplicated effecting the drinker of the extract. So the spell text "you" has to refer to the person drinking the extract. Otherwise "you" would at some points refer to the alchemist and at some point to the drinker in the same text without clarification.
I think spell text should always points to the person affected by the spell unless otherwise specified.