Innovation Pharmaceuticals Inc (IPIX)

[backtoreality]

"Speed Trader", an online trading platform for those who still want to trade Ipix shares.

It is what it is,,,,

My first Stinky Pinky had I believe the first patent for a non contact infared thermometer. They brought on board another entrepreneur who had a hypodermic needle destruction device. The Arnold the CA Govenor/terminator proposed a bill where pharmas selling needles for at home usage had to supply a safe means for disposing needles. Rumors spread Arnie was loading up shares and maybe he was because the stock Exploded, my first Otc high risk high reward investment was going up and as it did I kept buying,,,, 3 days or so later the Ceo says its all a rumor, the stock crashed. Now I'm the proverbial bag holder. Unlike Leo they took on a Toxic lender, 2 reverse splits. Finally bankruptcy. BUT, I never sold my 6 million shares. Some entity since then paid off the bills and the judge ruled the company free and clear. It's a clean shell with a low share structure hanging there ripe for a merge. Moral of the story, never give up on a stinky pinky.

[loanranger]

"The appeal of the judgment against IPIX is due to be filed on May 8 "

Is that what this means?
"Review Appeals Filed 03/11/2024 05/08/2024"

[JTORENCE]

snayeman Maybe he got a tip and was told to get out of town cause the big boys are coming to settle the score.

[olden_grumpini]

hey I’m still here and we’re still alive!

The appeal of the judgment against IPIX is due to be filed on May 8 (per court website). If that happens, it would be a signal to me that the CEO is still involved with IPIX.

You can check the court website yourself. Here are the directions: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=164059214

Wow! That post is nearly 3 years old!

[TheHound]

Poor bastard.

[snayeman]

Why the hell can’t Leo show a little respect and drop something saying hey I’m still here and we’re still alive! The total disappearing act sure looks sus! Not helping our cause one bit

[PJ007]

I remember when you use to pump this stock.....

[backtoreality]

Classless P.O.D.S.

[TheHound]

Every one of you pumping clowns deserves what you ended up with! Nothing!

[PJ007]

LR, if it's game over like you say it is, why are you, sunny, scotty and the rest of the detractors still here posting????

[realscottsmith]

Talk about going out with a whimper!

[loanranger]

I read the article that you couldn't link but Pipi could.

It's just the same old rubbish.
Demand for shells and equities is going up at a blistering pace (zero support offered).
"Supply in global equities is shrinking" according to a link that didn't work.
Massive short covering of huge naked short position.

Fairy Tales.

[loanranger]

But did you see how that precipitous drop came about?
There were only 2 trades reported.
At 11:30 167,235 exchanged hands at $.011.
At 12:12 1,400 went thru at $.0042.

microchips has it right when they write that that is "the way it works when there is no real market". Those two trades could just as easily have gone off in the opposite order and some would think that it was party time.

It's a meaningless change, except it stands as a good example of how different things are for investors wanting to buy or sell compared to 3 days ago.

[TheHound]

No shit. What a genius.

“the way it works when there is no real market. Buy/sell bidding is practically non-existent.”

[zandant]

And that's being kind...

[TheHound]

What a shithole.

[zandant]

Ehrlich has certainly turned his one- man operation into an empty, debt-ridden, shell.

[MackG]

THAT'S A FABOLOUS FIND!!!

[microchips]

Unfortunately the way it works when there is no real market. Buy/sell bidding is practically non-existent.

[Preciouslife1]

Hi all!! Sadly another huge precipitous drop from .015 to .0042!!
This along with HGEN are Chinese torture stocks!

[SitTight]

The law firm representing BT Beamedical sounds interesting! One of the best law firms in Israel with strong M&A focus in the international Healthcare and Life Science sector.

And BT Beamed is listed as one of their key clients.

The team at Amit, Pollak, Matalon & Co. Advocates and Notary regularly assists with equity investments and data privacy compliance mandates. Practice co-head Ian Rostowsky is particularly adept at handling fund formation and M&A-related issues within the sector,

Work highlights: Represented F.O.R.E Biotherapeutics in an equity investment transaction and is currently dealing with a merger which will result in the company being flipped from Israel to become a Delaware corporation.

https://www.legal500.com/c/israel/healthcare-and-life-sciences/#:~:text=BT%20Beamedical%20Technologies

Let's see what Q2 has in store for Beamed and us!

[backtoreality]

I really don't get you guys, do you only read certain posters posts. Pipilongstocking posted the link for me..... just before making your comments.

I get some posters not reading every post, but Professor Brainiac has no excuse.?

But once again Im made out to be a derelict, because I havent taken the time to provide a link, therefore my posts should be deemed meaningless.

Thank you Pippi.

A poster claimed BeaMed didn't go public before, so they won't go public now. That's a BS way of looking at things. I stand by my speculation of a potential merger. The Ipix shell is worth alot of money, way more than the lawsuit against Ipix.

I've been here for 12 years, and will be until the fat lady sings. If Leo is actually the crook people say, I'll be surprised. He got slammed by a short attack, it happens to many baby bios.

[zandant]

Talk about desperation grasping at straws...At least you seem to realize that this mess was going nowhere under Ehrlich.

[loanranger]

Again? He couldn't reference it the first time.

[leavetheguntakethecannolis]

Could you reference the article again BTR? Gracias.

[realscottsmith]

I would have to agree. Not a lot of momentum to punish Leo.

[Snowy_Owl]

" There's always the derivative suit."
"A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation against a third party. Often, the third party is an insider of the corporation, such as an executive officer or director."

"Don't hold your breath for that either."

You sold your shares?

[JTORENCE]

olden_grumpini Leo's trigger event has happened. He pulled the trigger and put a bullet in the head of share holders.

[Pipilongstocking]

What is going on in the OTC and why are there so many mergers being announced and teased? I've discussed this to great lengths and will continue to do so. I label it the #OTCSET, it the OTC Special Event Theory, which surmises that for a number of reasons there's a historical…

— Professor Brainiac (@ChartDiligence) April 12, 2024

[olden_grumpini]

I don't think a "Trigger Event" has happened. IMO it's possible that the Patent License Agreement will expire before a "Trigger Event" happens.

[olden_grumpini]

I expect that the CEO of IPIX will seek to distance himself from potential SEC enforcement actions. I don't think he wants to appear on the "Division of Enforcement" section of the SEC website (https://www.sec.gov/page/enforcement-section-landing). I expect he will have more filings with the SEC.

I don't think he is worried about shareholder lawsuits.

[loanranger]

Who's gonna do the piercing? I sense no outrage here.

You know things are bad for a company when the class action shysters let them slide.

edit: There's always the derivative suit.
"A shareholder derivative suit is a lawsuit brought by a shareholder on behalf of a corporation against a third party. Often, the third party is an insider of the corporation, such as an executive officer or director."
Don't hold your breath for that either.

[loanranger]

Good question, because I think the disappearing act may turn your trigger event into a gray area...and that may have been one of the reasons for it. The details of a filing would confirm that a trigger event had occurred.

Here's the impact of a trigger event:
" 5.3 Termination by Penn.
Penn may terminate this Agreement on written notice to Licensee if any of the following events of default (“Default”) occur:"
"5.3.2 Licensee experiences a Trigger Event;"

[realscottsmith]

Food for thought?

“Piercing the veil, also known as "piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation's actions or debts. Veil piercing is most common in close corporations.”

https://www.law.cornell.edu/wex/piercing_the_veil#:~:text=Primary%20tabs,most%20common%20in%20close%20corporations.

[loanranger]

But why would private party Leo pay a judgment against public Company IPIX?

[loanranger]

"Through the date of this report, management has been unable to secure additional financing, and the ability of the Company to continue as a going concern is becoming increasingly unlikely."
That language should have been scary enough, especially since it was totally voluntary. This CEO doesn't have any history of willingly being the bearer of bad news except until AFTER things happen.

The going concern thing is somewhat of a technicality but once it appears that a company is no longer a going concern (and that loosely defined standard was met by the court decision, which required funds in excess IPIX's available cash) the financials are supposed to be reported at liquidation value, which would include investments (BeaMed) and unamortized Patent Costs. The BeaMed numbers have already been raised as questionable based on lack of accounting controls as acknowledged in the last set of filings.

It COULD be that the effect of the going concern issue on the financials is why LE decided not to file the most recent set. It's starting to look like we might not hear from him again. If he disappears without an exit filing (resignation from management and the BOD) that would represent a new low from a CEO who has already had a few ugly lows.

[olden_grumpini]

I don't know about the other guys, but here are my thoughts.

A. "burn the shorts"
OTCMarkets lists short interest at 18,008 shares on 3/28/24. There are no shorts to be burned.
In the scenario other posters have put forward in the past (maybe you put it forward too), the shorts are not only naked, but invisible. They exist in a dark alternative trading universe. I don't buy that.

B. "merging into a public company"
Why not look at what the majority owners of BeaMedical have done with their previous company, neoLaser? neoLaser was founded over 10 years ago. Did Shapiro and Eshkol take neoLaser public? No. Why do you think they want to take this one public?
If BeaMedical wants to merge, why not merge in Israel?

C. "people in the know can still buy", "that is who is buying"
There are 514,013,755 shares outstanding (per 10-Q for period ended Sept 30, 2023). Trading 500,000 shares per day represents 0.1% of the shares outstanding. At a share price of $0.015 it represents $7,500 per day. It’s peanuts.
Why are the people in the know not buying buckets of this undervalued stock? If the stock should be valued at $1.00/sh what difference does it make if you pay $0.02, or $0.03, or $0.05/share? The demand isn't there.

IPIX had a string of bad events and their response was to go silent. Their silence resulted in their stock being restricted. I can't spin that into a positive. I don't understand how you're able to do it.

[Here Today]

That’s probably the moving company throwing out all the shit for the unpaid lease payments and moving in the new tenant.

[SitTight]

Oops, I called Ipix on the phone right now, and a woman answered with a friendly "Hello". Unfortunately, I pushed the wrong button and got disconnected, because I was surprised to be connected after weeks of no connection.

Afterwards I tried it a couple of times again to no avail. But I checked in my phone history, and I was definitely connected to the Ipix phone number listed on their website 978.921.4125.

Progress! Small steps, but progress. You guys can maybe try for yourself if you can finally talk with someone again there.

[Here Today]

Looks like someone lite $3k up on fire and bought some shares

[backtoreality]

I don't quite get you guys.

A. Leo would love to burn the shorts.

B. Fact... If a foreign company wants to go public it's near impossible and or very expensive to get approval for an IPO, therefore merging into a public company is much more easier to achieve. In fact suddenly companies with billions of shares out there are getting merged into. Aaaand the CEO's are Bums to boot.

C. I like this situation because the stock was going no where, nothing to report as of now. BUT people in the know can still buy, and considering the stock market is purely speculative I'm speculating that that is who is buying, even today when the streets is filled with blood.

D. If all else revert back to A.

If anyone took the time to read the article I tried to get PJ to link, they'd read what the writer said about the Naked Shorts.

[BuckBuckBuck]

What in Hell is going ON.

[CHUNKY44]

Has a "Trigger Event" happened?

PATENT LICENSE AGREEMENT BETWEEN POLYMEDIX, INC.
AND
THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
https://www.sec.gov/Archives/edgar/data/1355250/000117152013000616/ex10-20.htm

1.25 “Trigger Event” means any of the following:

1.25.1 If Licensee: becomes insolvent, bankrupt or generally fails to pay its debts as such debts become due; is adjudicated insolvent or bankrupt; admits in writing its inability to pay its debts; or shall suffer a custodian, receiver or trustee for it or substantially all of its property to be appointed and, if appointed without its consent, not be discharged within sixty (60) days; makes an assignment of all or substantially all of its assets for the benefit of creditors; or suffers proceedings under any law related to bankruptcy, insolvency, liquidation or the reorganization, readjustment or the release of debtors to be instituted against it and, if contested by it, not dismissed or stayed within thirty (30) days;

1.25.2 If proceedings under any law related to bankruptcy, insolvency, liquidation, or the reorganization, readjustment or the release of debtors are instituted or commenced by Licensee; or

1.25.3 If any order for relief is entered relating to any of the proceedings described in Sections 1.25.1 or 1.25.2; or

1.25.4 If Licensee shall call a meeting of its creditors with a view to arranging a composition or adjustment of its debts; or

1.25.5 If Licensee shall by any act or failure to act indicate its consent to, approval of or acquiescence in any of the proceedings described in Sections 1.25.1, 1.25.2, 1.25.3 or 1.25.4.

[TheHound]

IPIX is dead.

[MackG]

From this point going forward, imo it is all about the relationship between IPIX and BeaMed Technologies, Inc. and what I consider to be the strong likelihood of a reverse merger. I will not attempt a guess as to the timing of the news of such an event, but remain super confidant it will happen. IPIX investors who have been paying attention are well aware of the huge potential of this alliance going forward.

[zandant]

Once "Erase the company like he did references to Prurisol and Kevetrin" Ehrlich loses his frivolous appeal, we may get an out-of-business press release.

[PJ007]

As the great Yogi Berra once said "it ain't over til it's over" Nothing I can do now....worst case scenario is I take a tax loss.......I won't sell, I'd rather stay til the end...

[Minnesinger]

I have a suspicion that the BeaMed holdings...

will be sold to a private party to satisfy the Beverly judgment. Probably for $1.5 - 1.6 to pay the judgment, plus accrued interest and expenses . And just who will this private party be? Why none other than Leo Ehrlich himself. Bought and paid for with the salary issued from the company over 15 years of failure, all from money derived from shareholders' investment.

[zandant]

Try your Fidelity again. Game over for online buys. Game over for Sham Ehrlich and his garbage dump. "Opening transactions for this security are not currently permitted due to its expert market designation and/or the risk associated with this security." It does seem like you can still unload this junk though once you are able to find the latest price. Still feeling upbeat about Ehrich and all those "buys" you have made?

[olden_grumpini]

What caught my eye in the last 10-Q (filed Nov 14, 2023) was the following:

Through the date of this report, management has been unable to secure additional financing, and the ability of the Company to continue as a going concern is becoming increasingly unlikely.

This new wording appeared before the following events occurred:
-- Alfasignma S.p.A. terminated their license agreement
-- both independent directors resigned
-- the MA Superior Court issued a >$1.4 million judgment against IPIX
-- trading in IPIX stock was restricted to the Expert Market.

In the 5 months since the filing it's likely that all remaining cash has been spent on salaries and legal expenses. The only viable asset is the BeaMedical holding and this will likely be the source of funds to satisfy the Cummings judgment.

The brilacidin fungal data is interesting, but brilacidin is at the end of its patent life and is being used under license by IPIX. IPIX does not own brilacidin. The license agreement has a defined expiration (see post https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171595146).