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Gustavo? Gustavo? Gustavo?
Sure hope he didn't have a fender bender and get a booboo or get called into a last minute meeting about animal husbandry.
Why hasn't there been a transcript provided of his presentation? It sure hasn't had an effect on the share price...at least not a positive one.
Did he show up? Somebody must know. 10 days later and counting.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.00755
-0.00045 (-5.63%)
Volume: 344,492
Total Trades: 31
Dollar Volume: $ 2,633
Thanks for your diligence....without it an awareness of the accounting change may have taken some time to find its way here.
The public companies on which Green Growth performed audits last year bore little resemblance to IPIX:
PREAXIA HEALTH CARE PAYMENT SYSTEMS INC.
Lowell Farms Inc.
Akanda Corp.
IGEN Networks
Regnum Corp
There is little likelihood that Green Growth will be in any better position to assist in improving this situation than the prior auditor was:
"there were no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K, except that, as initially reported in Part II, Item 9A of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023, the Company reported a material weakness in its internal control over financial reporting during such period related to the Company’s accounting procedures relevant to an unconsolidated foreign investment being insufficiently formal."
"The Audit Committee approved the transition"
Of course they did. What else would Barry the eye guy and Zorik the children's ear, nose and throat guy do? Leo knew what he was doing when he signed them up....no fear of any Audit related issues being raised by that Audit Committee.
Green Growth had a grand total of 4 public company audits in their latest annual report.
This isn't a big deal.....a big deal would be dismissing their auditor and NOT replacing them. Given the comments in the last 10-K that may be in the works.
Do you not know the secret location where Form 8-Ks are hidden?
This change wasn't "personal". A number of firms made the same change which seems to stem from the sale of some Pinnacle Accounts to GreenGrowth.
https://www.sec.gov/Archives/edgar/data/1355250/000147793223007971/ipix_8k.htm
From GreenGrowth CPAs
"GreenGrowth CPAs is the leading cannabis CPA firm offering tax, audit and accounting services to the cannabis and medical marijuana industries."
IPIX
Innovation Pharmaceuticals Inc (PK)
0.00815
-0.0001 (-1.21%)
Volume: 214,901
Total Trades: 14
Dollar Volume: $ 1,682
Is that another game changing bit of research? What happened to last Monday's presentation by Scientific Advisor Gustavo? I haven't read a thing about it and the only market reaction since then has been a peewee move downward.
Out, out, brief candle!
Life's but a walking shadow, a poor player
That struts and frets his hour upon the stage,
And then is heard no more. It is yet ANOTHER tale
Told by an idiot, full of sound and fury,
Signifying nothing.
Be nice to read a transcript.
"Linking brilacidin is disingenuous."
I agree that it would be. So is suggesting that someone did that if no one did.
So who did that?
IPIX
Innovation Pharmaceuticals Inc (PK)
0.00825
-0.001 (-10.81%)
Volume: 358,822
Total Trades: 16
Dollar Volume: $ 3,084
Is that a smear too? Or just a sad truth.
My purpose in responding to your post was simply to ask a question: "Are you saying that you are certain that the lead compound in question WASN'T an IPIX compound?"
You chose not to respond to it.
"Other than smearing Ipix by linking it to a failed compound, what was your intention posting your response then? "
IF the failed compound was an IPIX compound (I KNOW IT WASN'T BRILACIDIN) it seemed to me to be reasonable to wonder if Basilea might be pre-disposed to avoid this based on the old "once bitten, twice shy":
"Come on, make the deal Leo!"
Was this not a reasonable question?
"Are you saying that you are certain that the lead compound in question WASN'T an IPIX compound?"
Please answer. And if you have a basis for your answer please provide it.
Obviously if it wasn't an IPIX compound and you know that (versus just hoping it) you would be justified in calling my question a smear. I only intended it to be a good, relevant question and I'm looking forward to your real response.
Pick one:
_ Yes
_ No
I neither said nor suggested that Brilacidin was the lead compound that Basilea sent back...I know that it wasn't.
Are you saying that you are certain that the lead compound in question WASN'T an IPIX compound?
From the same article:
"Basilea’s pivot away from oncology to focus solely on anti-infectives got off to a bumpy start at the beginning of the year, after the biotech’s preclinical profiling of an antifungal program it bought from Fox Chase Chemical Diversity Center for an undisclosed fee led the company to hand the asset back."
The link goes back to https://www.fiercebiotech.com/biotech/first-hiccup-basileas-anti-infective-strategy-biotech-hands-back-antifungal-9-months-after .
Hey Maxamdud and runninggirl(2016)! Sure do miss you guys.
Right back at ya.......🖕
BTW, IPIX board post #400,000! A rare accomplishment.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.00925
0.0004 (4.52%)
Volume: 286,000
Total Trades: 21
Dollar Volume: $ 2,569
"A salon focused on endless debate of the trivial does not appeal to me."
This is how my post ended:
"Are there any trials worth running?
If so, how will they be funded?
There are less than $1M worth of shares available to sell (100M @ $.01).
Are there any assets of value to sell and who would buy them?"
Do you really find those issues trivial?
I'll grant you that they may be moot at this point, but not trivial.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.00885
-0.00015 (-1.67%)
Volume: 41,000
Total Trades: 5
Dollar Volume: $ 361
My problem wasn't with the juvenile images but rather with the lack of an on topic response to the specifics of my post. You just did it again.
"It's funny how people (4 of them so far this time) can find the time to express their feelings about my posts with juvenile cartoon images but can't muster a decent argument to address how they expect the Company to improve on the data they reflect (one of them CAN'T, of course)."
ps. This is 100% true from the perspective of this moderator:
"I'm sure iHub's new TOS has dealt a serious blow to the effort of controlling the narrative about IPIX."
"Had not safety been established earlier? This doesn't seem to pass the smell test. "
What smells is your understanding of the basic requirements for approval.
Substantial evidence of BOTH effectiveness and safety must be shown. If EITHER effectiveness OR safety data weren't established in the study then this statement was correct:
"the supporting data from the GT-201 trial are not sufficiently persuasive to establish substantial evidence of avasopasem’s effectiveness and safety for reducing severe oral mucositis in patients with head and neck cancer."
I think you'll find that the shortfall was in the area of effectiveness. Nothing fishy about it.
https://clinicaltrials.gov/study/NCT03689712?term=galera%20therapeutics&aggFilters=phase:3&cond=mucositis&rank=1&tab=results
IPIX
Innovation Pharmaceuticals Inc (PK)
0.009
0.0001 (1.12%)
Volume: 849,449
Total Trades: 33
Dollar Volume: $ 7,745
"Lot of volume today for this name." The last 3 words being the most important.
"Maybe insiders were front running the big news."
If so, they're some broke-assed insiders.
I can't believe that ANYBODY does. Leo doesn't.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0089
-0.0002 (-2.20%)
Volume: 69,098
Total Trades: 14
Dollar Volume: $618 (couch cushion money)
You can't possibly disagree with this....
"A cautious IPIX investor might wonder why their CPA CEO would invest half of their cash in a business that wasn't adequately transparent in its financial records to assure that the book value and operational effectiveness of BeaMed could be determined with a reasonable degree of confidence."
....unless you don't understand it.
"Is this Ehrlich agreeing with Ehrlich and pointing the finger at Ehrlich?"
Sounds that way, doesn't it? Typically those are 2 different people: "the principal executive officer and principal financial officer of the Company have concluded"
The Exchange Act requires the Company to determine the adequacy of the financial controls that are in place that assure the accuracy of the financials...https://www.sec.gov/spotlight/fcpa/fcpa-recordkeeping.pdf
Without that requirement it's extremely unlikely that the CEO would have revealed his conclusion that "the Company’s disclosure controls and procedures were not effective due to the material weakness in the Company’s internal control over financial reporting as of June 30, 2023".
The specific ineffectiveness is described by the Company:
Material Weakness and Remediation Plan
"As a result of the assessment described above, management concluded that the Company’s accounting procedures relevant to an unconsolidated foreign investment are not sufficiently formal that management can determine whether the applicable control objectives are met and adequate documentation supporting the procedures is in place. Specifically, the Company does not have sufficient controls to conclude that data from the unconsolidated foreign investee underlying the Company’s financial statements is captured completely, accurately and timely, in accordance with the Company’s policies and procedures. 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."
The meaning of that is plain enough. IPIX and BeaMed don't have systems in place to assure that BeaMed's reporting is accurate. The CPA CEO is acknowledging that fact and the resulting possibility that the IPIX financials could be inaccurate as a result. Not that they ARE inaccurate, but that they COULD BE.
A cautious IPIX investor might wonder why their CPA CEO would invest half of their cash in a business that wasn't adequately transparent in its financial records to assure that the book value and operational effectiveness of BeaMed could be determined with a reasonable degree of confidence.
"You do not agree with my opinion?"
I didn't see where you offered one.
I do agree with the Company's own opinions as expressed in the recent 10-K:
"We need to raise substantial additional capital in the future to fund our operations and we may be unable to raise such funds when needed and on acceptable terms, which could prevent us from fully implementing our business, operating and development plans."
"Our financial statements were prepared assuming we will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. We have negative working capital of $3.4 million and have incurred losses since inception of $125.3 million. We expect to incur further losses in the development of our business and have been dependent on raising capital to fund operations from inception. These conditions raise substantial doubt about our ability to continue as a going concern."
I also agree with this and it's something that any prospective financier/partner would care a lot about:
"as of June 30, 2023, the principal executive officer and principal financial officer of the Company have concluded that the Company’s disclosure controls and procedures were not effective due to the material weakness in the Company’s internal control over financial reporting as of June 30, 2023"
It's funny how people (4 of them so far this time) can find the time to express their feelings about my posts with juvenile cartoon images but can't muster a decent argument to address how they expect the Company to improve on the data they reflect (one of them CAN'T, of course).
Are there any trials worth running?
If so, how will they be funded?
There are less than $1M worth of shares available to sell (100M @ $.01).
Are there any assets of value to sell and who would buy them?
Just one trade turned this into a bogo sale!
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0091
-0.0008 (-8.08%)
Volume: 320,900
Total Trades: 15
Dollar Volume: $ 2,968
There's a possibility that some will see it as "You don't need much money to invest in IPIX". Then again it sounds like at least one person thinks the message is that people shouldn't be investing in OTC stocks at all.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0099
0.0004 (4.21%)
Volume: 75,900
Total Trades: 5
Dollar Volume: $716
"She doesn't respond because LR had her banned!!!!!"
That's false and it's not a proper topic for this board.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0095
0.001 (11.76%)
Volume: 296,267
Total Trades: 17
Dollar Volume: $2,725
WooHooo!!!
"Not never". Good plan!
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0085
-0.001 (-10.53%)
Volume: 328,750
Total Trades: 24
Dollar Volume: $ 2,810
"what kind of poster goes back almost two years to come up with a reason to post something negative to fit their agenda? "
That's not what I did.
I looked at your posting history because I didn't recognize your screen name and found that your last post to this board was made 18 months ago. In it you said "I bet the company gets inclusion into NIH development funds." 18 months later that still hasn't happened....so far you lost your bet.
"Now will it come? Yes, no, maybe so, never, who really knows and can say?"
You seem too smart to believe that history doesn't repeat itself. And if history is a worthy indicator chances are less than good that you will get your wish. "Who knows?" isn't much of a basis for investment.
The ink is still wet on the IPIX 10K....it includes zero mention of any NIH funding. That's the truth.
If you want to call exposing the truth an agenda, I'm guilty. If you want to imagine that I have some dishonest, nefarious purpose you'll have to get on line....imaginations run wild in these parts. I am neither "a short, a Sykes idiot, (n)or a paid shill".
I heard they moved it to the upper deck of the executive terlet. Shhhhhh....
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0095
0.001 (11.76%)
Volume: 161,034
Total Trades: 11
Dollar Volume: $1,508
Monroe1
Saturday, March 26, 2022 10:02:27 PM
I bet the company gets inclusion into NIH development funds. Once in those programs the money tends to continue to flow.
That's your last IPIX comment....a year and a half ago....and it was just as insightful and accurate as your current effort.
"Lol I got 11 likes!"
Seems being banned from posting doesn't ban one from "Liking". Man is known by the company he keeps.
What are you talking about?
"If Ipix isnt transparent Bullshit OTC Regulators new and improved restrictions will shut them down"
You've been asked to point out these so-called "new and improved restrictions" before and failed to respond. Disclosure requirements aren't new.
I'm not short and I don't have a boss. You're delusional.
Remember this?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171612555
I'm resisting the temptation to copy and paste the whole thing...it's that interesting...but I will quote the first sentence of the paragraph that you quoted which NO LONGER APPEARS on the Karveer "About Us" web page that you linked (https://www.karveermeditech.com/about-us.php):
"The founder of Kaveer Meditech is Dr. Anil Diwan, Karveer Meditech is working under the guidance of American Company AllExcel Inc. USA which is 100 % owned by Dr. Anil Diwan. Dr. Anil Diwan is the Chairman of Karveer Meditech"
https://www.karveermeditech.com/about-us.php
Why the reminiscence?
The late 10-K was filed today. It makes reference to the Karveer/Diwan relationship a few times:
"Karveer is owned by the Diwan family, consisting of four siblings and their immediate families. Dr. Diwan has an undivided share in the Diwan family interest in Karveer. The number of shares is not currently available. Consequent to and subsequent to the Karveer COVID License, Karveer is deemed to be a related party."
and
" Diwan, our Founder, President and Executive Chairman, is a passive investor in Karveer. His ownership interest does not provide him with control or significant influence over Karveer.
The highlight in the last sentence was added by me. To say that you own a business but do not have control or significant influence over it is just plain goofy and the kind of thing that one might expect from a Company that says "The Company currently has no registered trademarks" in a 10K that includes the following seven times: "nanoviricides®", falsely indicating that "nanoviricides" is, in fact, registered.
A small thing perhaps, but indicative of this Company's reliability.
"I have no idea how this all will turn out...."
I do. It's pretty much gone. $.0002 for now and the worst is yet to come. It's folly to think otherwise no matter how very professional Robert is (whoever that is).
What do those double black diamonds mean? Seems AWESOME!
https://www.otcmarkets.com/stock/TVOG/profile
We're not. You're a dimwit.
I agree.