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You just confirmed, with this waste of time and board content that you truly are a Dumas.
Ya lost me.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.012
-0.0015 (-11.11%)
Volume: 1,569,975
Total Trades: 85
Dollar volume: $19,161
Avg trade: $225.42
I was responding to PJ who asked “does someone know something?”
This statement actually debuted in the LAST 10-K:
"We may elect to deregister our common stock under the Exchange Act and suspend our reporting obligations. Such deregistration and suspension would result in less disclosure about us and may negatively affect the liquidity and trading prices of our common stock."
In yesterday's filing he fleshed it out quite a bit, adding the following paragraph:
"Due to the relatively high cost of being a public company in the United States and our limited resources, our Board of Directors may elect to voluntarily deregister our Class A common stock under the Exchange Act and suspend our reporting obligations with the SEC, possibly in combination with beginning to satisfy the alternative reporting standard of the OTC Markets to continue the quotation of our Class A common stock on the OTC Pink. No Board approval of deregistration has taken place, but in the future, the Board may authorize the Company to file with the SEC a Form 15 to voluntarily deregister our Class A common stock under Section 12(g) of the Exchange Act and suspend our reporting obligations under Section 15(d) of the Exchange Act. If the Board approves such deregistration, we would file a Form 15 and our obligations to file periodic reports, such as annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, would be suspended immediately upon the filing of the Form 15 with the SEC, and our proxy statement, Section 16 and other Section 12(g) reporting responsibilities would terminate effective 90 days after the filing of the Form 15. Following any such deregistration and suspension, we would not expect to publish periodic financial information or furnish such information to our stockholders except as may be required by applicable laws or, if the Board so elects, as part of the alternative reporting standard of the OTC Markets, which requires companies to provide less information compared to the requirements under Section 13 and Section 15(d) of the Exchange Act. As a result of the foregoing factors, deregistration may result in less disclosure about us and may negatively affect the liquidity and trading prices of our Class A common stock."
Could anyone think that this level of explanation was based on some newfound urge to educate investors? It should be noted that it was not a required disclosure and was made voluntarily. The standards required to deregister have already been met and a Form 15 could be filed at any time.
The (Hungry) Ghost of Thanksgiving future:
It was a dark and blustery Thanksgiving Day 2023 in the small American town of Beanfield. The streets were deserted, the houses seemed to sag under the weight of disappointment, and a chilling wind rustled the fallen leaves. Inside a modest, weathered home, the atmosphere was equally bleak.
The dining room table was set for four, but there was no abundance of food to grace it. A single turkey, smaller than in years past, sat in the center, its aroma filling the room with a faint promise of better days. Gathered around the table were the Broadbean family: John, the father; Mary, his wife; and their two children, William and Emily.
John Broadbean was a man who had once believed he could secure a fortune from thin air. His latest venture into the world of speculative investments, a penny stock scam called IPIX, had shattered his dreams and emptied his pockets. His face was etched with lines of worry, and his eyes bore the weight of regret. He stared at the turkey with a hollow expression, knowing that he had gambled away their future.
Mary Broadbean sat opposite her husband, her once-genteel countenance now marked by frustration and anger. Her dreams of new clothes and a comfortable life had evaporated, replaced by the harsh reality of financial ruin. She fiddled with the edge of her faded apron, her silence conveying her disapproval more effectively than words ever could.
William and Emily, their dreams of college now crushed, sat on either side of their parents, their faces a mix of disappointment and resentment. They had been promised an education, but now their hopes lay in tatters, buried beneath their father's reckless greed.
As they began to serve themselves from the meager Thanksgiving spread, conversation around the table was at times sharp and vituperative. John defended his actions, clinging to the forlorn hope that IPIX would rebound miraculously, while Mary berated him for his foolishness.
"You could have ruined this family, John," she hissed, her voice trembling with anger.
"I thought it was a sure thing, Mary," he replied, his tone pleading for understanding.
Emily, the elder of the two children, couldn't contain her frustration any longer. "Dad, you've destroyed our future!" she exclaimed, her voice breaking.
Before John could respond, the room was filled with an ominous knock on the door. The entire family turned to see three stern-looking men in suits standing on the doorstep. They were bailiffs, come to foreclose on the Broadbean's modest home.
John's face drained of color as he realized the gravity of the situation. His folly had led them not only to financial ruin but now threatened to leave them homeless. Panic welled up within him.
The bailiffs entered the dining room, their presence casting a shadow over the already somber gathering. Mary's eyes filled with tears, and the children stared wide-eyed at the strangers invading their home.
With a stern and impersonal tone, one of the bailiffs addressed John, "Mr. Broadbean, we have a legal obligation to proceed with the foreclosure of this property. You have until the end of the day to vacate."
The weight of reality crashed down upon John, and he bowed his head in defeat. He had gambled away not only their financial security but the very roof over their heads.
As the bailiffs left the room to complete their paperwork, the Broadbean family sat in stunned silence, their Thanksgiving meal forgotten. The turkey lay cold and untouched, a symbol of their shattered dreams and the harsh consequences of their choices.
In the dimly lit room, on that dark and blustery Thanksgiving Day, the Broadbeans faced a future uncertain and bleak, their family torn apart by greed and despair. Charles Dickens himself might have found this tale of woe a stark reminder of the perils of unchecked ambition and the price of recklessness.
"We're screwed" according to you, you sold!?
Yeah, we’re screwed
Why so much volume today??? Does someone know something????
I agree, Kips bay is obviously staying pat for a reason...question is what do they know???
Kips bay says thanks for the shares today. The 44 million share pile ain’t big enough. How much money is the US Government spending on IPIX with all these taxpayer funded multiple trials that have been on going and will be continuing into the future. What are they seeing that they keep shoveling money to the continued investigative study’s of Brilacidin.
Thanks US Government.
Looking pretty screwed here! Ready to throw up!
If I'd have a dollar for every time Leo made that Statement
After the enlightening filing yesterday, decent volume for this walking dead company. As usual, most appear to be dumping as the price is down 14% to .0116. Maybe a few more posts about all those marvelous B studies that amount to nothing will move the price to sub-penny.
Put on a pair of glasses with real lenses. The share price is a few ticks away from sub-penny a share, the one-man controlled operation will run out of money once Ehrlich pays himself and his stooges, all their drugs have been failures (Prurisol dead, Kevetrin, dead, B for Covid, dead, Alfasigma continues to delay its trial for B, Fox Chase terminates its effort go forward, and Mr. Incompetent will soon have to be even less transparent, if BeaMed manages to make any money, if IPIX is still around, it will not see any money anytime soon). What's left of this ghost town is burning down.
i would love for anyone who understands this to explain it to me:
"The reason for doing what they're doing, thanks to LR, is a very good reason with having a substantial ownership in a foreign investment and wanting to be sure they dot all their eyes and cross all their T's because of folks like LR lurking hoping to destroy the company.
Finally we get a explanation for the issues that have risen in the past!"
If I'd have a dollar for every time Leo made that Statement,,,,,
Legally he should state shit like this and even more,,, according to you, the company is dead, so why you acting like it's new News?!
Connect the dots
Words from the CEO….
We currently have an approximate $1.0 million cash balance as of the date of this filing, but that is insufficient to complete the development and commercialization of any of our proposed products. We expect to incur costs of approximately $1.8 million in the upcoming fiscal year ending June 30, 2024 to operate our business in accordance with our business plans and budgets…..
The Company historically devoted most of its efforts and resources on business development, regulatory matters, and clinical trials. Presently, the Company does not have sufficient financial resources to advance our drug candidates meaningfully…..
Due to the relatively high cost of being a public company in the United States and our limited resources, our Board of Directors may elect to voluntarily deregister our Class A common stock under the Exchange Act and suspend our reporting obligations with the SEC, possibly in combination with beginning to satisfy the alternative reporting standard of the OTC Markets to continue the quotation of our Class A common stock on the OTC Pink…..
Shareholders are fucked.
Take off your microscopic glasses, take off your blunders and open your mind....
Does anyone else not understand my post or do I need to break it down?
This mess is a complete disaster. Kips Bay must feel like bigger idiots than Ehrlich. The IPIX story in a nutshell is one of failure. One million dollars left, lofty salaries to pay, a shell company, Alfasigma does nothing but delay so you can imagine what they think of the Wonder Drug. So what will happen when the well runs dry? Despite all your references to studies, nobody wants B. And Ehrlich has no funds to conduct any clinical trials. That is the reality. End of story. Not even those two remaining press releases that you were boasting about in July can save this junk.
We know where that million is going. Salaries or attorney fees for the Cummings Asleep-At-The-Wheel Debacle. Now what will happen once that money is exhausted on the salaries of the 4 stooges? Will all the rats flee the sinking ship? Will Ehrlich pay or stiff the attorneys?
Yep. Horrible one-man operation and terrible CEO. This mess is like a baseball team that loses 99.9% of its games year after year, with an incompetent, slimy manager who will never get fired because he also the owner. One of the worst stocks of all time.
Connect the dots
Words from the CEO….
We currently have an approximate $1.0 million cash balance as of the date of this filing, but that is insufficient to complete the development and commercialization of any of our proposed products. We expect to incur costs of approximately $1.8 million in the upcoming fiscal year ending June 30, 2024 to operate our business in accordance with our business plans and budgets…..
The Company historically devoted most of its efforts and resources on business development, regulatory matters, and clinical trials. Presently, the Company does not have sufficient financial resources to advance our drug candidates meaningfully…..
Due to the relatively high cost of being a public company in the United States and our limited resources, our Board of Directors may elect to voluntarily deregister our Class A common stock under the Exchange Act and suspend our reporting obligations with the SEC, possibly in combination with beginning to satisfy the alternative reporting standard of the OTC Markets to continue the quotation of our Class A common stock on the OTC Pink…..
Shareholders are fucked.
Kips bay must be delighted with there return on investment and with Leo!
Should I be able to follow that? I can't and once again I don't think it's due to my diminished capacity..... it's your mumbojumbo.
Please rewrite it so I can respond or ignore as appropriate.
"It’s people that short the stock to make Pennie’s dam they must be desperate"
From today's 10-K:
As of June 30, 2023, the Company had 4 employees.
From today's 10-K:
We currently have an approximate $1.0 million cash balance as of the date of this filing, but that is insufficient to complete the development and commercialization of any of our proposed products. We expect to incur costs of approximately $1.8 million in the upcoming fiscal year ending June 30, 2024 to operate our business in accordance with our business plans and budgets.
That upcoming merger is out there on the horizon baby!
My guess is this Q is baked into the ridiculously low share price, but who knows maybe it'll crash another 10%? You can only hope!!
LMAO!!!
Go Frenchy and go Kipper!!
The reason for doing what they're doing, thanks to LR, is a very good reason with having a substantial ownership in a foreign investment and wanting to be sure they dot all their eyes and cross all their T's because of folks like LR lurking hoping to destroy the company.
Finally we get a explanation for the issues that have risen in the past!
Yay Leo,,,, da MN
Thank you for squishing some of the doubt that was giving the Cartel ammo.
Then you should sell out and stop talking smack
It’s people that short the stock to make Pennie’s dam they must be desperate
Your taxpayer dollars at work supporting scams like IPIX:
"On May 10, 2020 and April 19, 2021, the Company received loan proceeds in the amount of approximately $93,000 and $79,000, respectively, under the Paycheck Protection Program (“PPP”) ...................................
During the year ended June 30, 2022, the Company obtained the approval of the forgiveness of the above mentioned two loans, and the Company recorded the total loan forgiveness of $172,000 under other income. There was no other income in 2023."
I noticed the debut of that little announcement too:
"We may elect to deregister our common stock under the Exchange Act and suspend our reporting obligations. Such deregistration and suspension would result in less disclosure about us and may negatively affect the liquidity and trading prices of our common stock."
Kips Bay does not sell. I do not sell.
"Kips Bay Select LP (3) 44,712,000 8.7%
Based on information provided to the Company by Kips Bay Select LP on September 22, 2023."
The Company has acknowledge that its internal control over financial reporting was and is ineffective base on a material weakness involving "the Company’s accounting procedures relevant to an unconsolidated foreign investment". In other words they have no basis on which to assure the reliability of BeaMed's financials and hence it's own.
"This material weakness could result in a misstatement of the recorded equity investment as well as the equity in loss from equity investment that would not be prevented or detected on a timely basis."