Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

I disagree. The company's survival is tied to the success/failure of its drugs. Leo can do a 1:10 reverse split to change the SP to $11.60, but it won't change the trial outcomes.

As for someone who has no reason to hold, Aruda was holding ~10M shares in the February 2016 filing. We'll find out how much he's holding in about two months.

Sox, the entire company's survival is tied to the stock price. So when 16 million shares are handed over to someone who has no reason to hold it does have an effect.