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"These statements were made in the ‘Risk’ section."
Of course they were, as they should have been.
This statement was actually made twice in two different sections, both entitled "Risks Related to the Securities Markets and Investments in Our Class A Common Stock":
"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."
"I won’t say I didn’t find Leo’s comments worrisome".
You aren't half as worried about them as Leo is. He made them twice.
Didn't miss it.
They are 2 different people, both of whom can tell a story.
How's this for irony? Beamed had twice the liquid assets at 6/30 that IPIX had.
CEO Leo had to know that that would be the case so I guess he felt it would be no cause for concern for IPIX shareholders.
It's easy to see why you might make that mistake given the dearth of decent writing on this board but the name that has slipped your mind is Nerby and I doubt that you can unearth any positive tales about prurisol from SS.
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
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.
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!"
"The Registrant could not complete the required financial statements and accompanying notes for the filing of its Annual Report on Form 10-K for the year ended June 30, 2023 without unreasonable effort and expense. The registrant anticipates it will file such report no later than the fifteenth calendar day following the prescribed due date"
Formulaic hooey.
Will there be a subsequent event report regarding the Indian trial in the 10-K when they finally get around to publishing it?
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.
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."
The CEO has for the first time felt obligated to provide a fairly detailed explanation of the process for and impact of a deregistration of the Company's common shares:
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.
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.
p.29
"In July 2023, Alfasigma confirmed further delay in the progress of the UP/UPS clinical program, without providing an updated timeline."
Just as well, I suppose: "There can be no assurance that Alfasigma will meet their estimated timeline."
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0138
0.0008 (6.15%)
Volume: 540,359
Total Trades: 28
Dollar volume: $7,369
"No one buys Ipix for now."
"And no one sells."
You can't have one without the other.
"No one buys Ipix for now. Every one waits for news" and there hasn't been any in a long, long time.
If there were willing buyers they would be greeted by willing sellers and the price would naturally rise. Waiting for news is self-defeating if you believe that good news is a reasonable expectation.
"And the Alfasigma Brilacidin license is worth USD$24 million after milestones. Plus royalty."
That fits perfectly with your ongoing misconception that an IPIX share is worth more than it currently sells for. It's not. A thing is worth what you can get for it. A loaf of bread or a share of IPIX is only worth what a buyer is willing to pay for it.
Alfasigma gave IPIX $400,000 and change in 2019 for their license and not a penny since.
Why are investors resisting your tempting theories?
Alfasigma is aware of all the "market research" that you linked in your post and is certainly in a better position to know the value of the science of brilacidin than you or I.
Alfasigma invested $400,000 in brilacidin in 2019. They agreed to invest $794,000,000 IN CASH, almost 2,000 times the IPIX investment, in Intercept and its portfolio yesterday.
"The Ipix share price is low until it is not."
Brilliant.
Back to reality:
IPIX
Innovation Pharmaceuticals Inc (PK)
0.013
-0.0007 (-5.11%)
Volume: 336,116
Total Trades: 23
Dollar Volume: $4,559
"Alfasigma will pay $19 per Intercept share, which represents a premium of 82% to its last closing price. Intercept's stock surged 77.54% to $18.53 in morning trading on Tuesday, but has fallen 15.6% this year alone. Its shares are down significantly from their peak of roughly $445 in 2014."
The share price analogy might be someone coming along and buying IPIX for less than a nickel/share.
Thanks. So as recently as on 9/22 (the filing date of the docketed item submitted by Cummins) and based on the testimony of Jane Harness, CEO Leo Ehrlich had some basis for employing his son, a physical therapist, at IPIX.
I doubt that it'll be mentioned (unless he's engaged as an Officer of the Company) but it will be interesting to see if his name comes up in the 10-K.....due the day after tomorrow.
"It's 4, per Jane Harness"
Where is that from, please? I'm curious to know.....
1) If you spoke to her about it or
2) If it's from a deposition, what's the "as of" date she was referring to for that head count.
This is the first I'm hearing of the employment of Son of Leo.
Can't believe he's providing physical therapy to patients in his dad's house. Guess the good Dr. is holding down two jobs but can't figure out why IPIX needs a staff physical therapist.
https://npino.com/physical-therapist/1225368467-dr.-elliot--ehrlich/
Thanks very much for the report and I'm sure you took note of the critical term in those dockets: proposed Findings of Fact and Rulings of Law. They're written as if they are the findings of the Court but they are not. Very interesting stuff.
It was VERY difficult to find the information you asked about (fortunately a Bing search for colorado elk hunting season got the job done) and it's a little complicated so it's not surprising that you needed help to find it.
https://cpw.state.co.us/thingstodo/Pages/BigGameDatesandFees.aspx
Credit to the State of Colorado.
Let me save you the trouble of asking for help finding the list of IPIX Phase 3 trials:
https://clinicaltrials.gov/search?spons=Innovation%20Pharmaceuticals,%20Inc.&aggFilters=phase:3
I won't deny that a little senility might be setting in but it doesn't explain my inability to follow your mystifying tale of riches, names and time travel.
You said that you "banked $20k before the Dump"....."thanks to Leo throwing Brilicidin into the Covid fray" which happened in 2020.
The dump was in November of 2021 which coincided with your first appearance as backtoreality which led me to ask what you were calling yourself before that.
Now you're saying that you explained that before (I can't find it and you didn't link it) and that you were "previously Always Dreaming starting in spring 2017" but it turns out alwaysdreaming stopped posting in March of 2018.
That leaves the period from March of 2018 to November of 2021, during which Leo threw "Brilicidin into the Covid fray".
So the question remains: "What were you calling yourself when Leo threw Brilicidin(sp) into the Covid fray"?
Come on, help an old man out.
ps. re: "So I loaded up Ipix in the nickel range and then the price per share went up over 60 cents and sold."
The share price was up over 60 cents on ONE day during the "Covid fray".....June 23, 2020. It hasn't come close to that since and hadn't been close to it in the previous 2 years. And you picked that very day to sell?
"So I loaded up Ipix in the nickel range and then the price per share went up over 60 cents and sold.
That's thanks to Leo throwing Brilicidin into the Covid fray. "
Nifty trading. But backtoreality wasn't born until 11/15/2021, four days after the PR entitled "Innovation Pharmaceuticals Announces Topline Results from Phase 2 Clinical Trial of Brilacidin for COVID-19" was issued marking the END of B-covid.
So what were you calling yourself when Leo threw Brilicidin(sp) into the Covid fray (at the BEGINNING of B-covid)?
IPIX hasn't had a $1M trading day since November of 2021. I'll bet that's a reality you don't want to go back to.
Thanks for your continued vigilance.
These frauds need to be publicized in the same venue that offered people the opportunity to talk them up, especially since the responsible parties (in this case CEO Seth Shaw) are typically serial offenders.
Shaw issued a PR announcing his purchase of a large number of shares months after he stopped issuing SEC filings for the Company and never filed a Form 4 reporting his own purported purchase, so we don't know if he really made that purchase or if he still holds the shares.
If the SEC was as vigilant as you are people like Shaw might find it a littler more difficult to repeatedly take advantage of uninformed investors.
1:20-cr-00278-TNM-1 - BERMAN, KEITH
Jul 6, 2023
MINUTE ORDER as to KEITH BERMAN: The parties' 128 Proposed Pretrial Schedule is adopted. The Government's Expert disclosures are due by September 4, 2023. Defendant's Motion to Exclude Expert Witness Testimony and Defendant's Expert Disclosures are due by September 25, 2023. The Government's Response to Defendant's Motion to Exclude Expert Witness Testimony is due by October 10, 2023. The Government's Motion to Exclude Expert Witness Testimony is due by October 16, 2023. Defendant's Reply in Support of his Motion to Exclude Expert Testimony is due by October 16, 2023. Defendant's Response to the Government's Motion to Exclude Expert Testimony is due by October 30, 2023. The parties' Witness Lists are due by October 30, 2023. The Government's Reply in Support of its Motion to Exclude Expert Witness Testimony is due by November 6, 2023. The parties' Exhibit Disclosures, Proposed Jury Instructions, and Proposed Voir Dire Questions are due by November 6, 2023. SO ORDERED. Signed by Judge Trevor N. McFadden on 7/6/2023. (lctnm1)
Sep 5, 2023 Status Conference
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0136
-0.0014 (-9.33%)
Volume: 75,608
Total Trades: 16
Back to reality:
Dollar Volume: $1,134
So what do benevolent do-gooders do then, Mack?
Do they reassure fellow investors, some of whom having lost substantial portfolio value or others considering an initial investment, that everything's fine? Do you tell them that management's achievements to date portend great things for the future in spite of the fact that those achievements have resulted in a drop in market value of over 90% and an accumulated deficit of $125,000,000?
Is that your idea of benevolence? Is baseless cheerleading to anyone's benefit?
Sometimes the truth is bad news. To withhold bad news from people isn't good for them.
Ancient Greeks proposed that truth is its own reward. Don't you agree? It's enough for me.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.015
-0.00055 (-3.54%)
Volume: 50,246
Total Trades: 10
Dollar Volume $788
This thing's on fire!!!
https://www.bing.com/videos/riverview/relatedvideo?&q=hot+hot+hot&&mid=D3ED07F5F7954057ECC7D3ED07F5F7954057ECC7&&FORM=VRDGAR
How ya feelin'?
You get the point, don't you? IF you still had $2800 in cash laying around you couldn't get much with it. Personally I think you would be better off investing in a 25 year old Chrysler that has been in 4 accidents than another 180,000 shares of IPIX. You could fix the Chrysler.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.01555
-0.00015 (-0.96%)
Volume: 186,080
Last Trade Time: 3:05:44 PM EDT
Total Trades: 20
Dollar Volume: $2,819
https://www.edmunds.com/gmc/envoy/2002/vin/1GKDT13S622465115/?radius=25
or for another couple of bucks:
https://www.edmunds.com/chrysler/300m/1999/vin/2C3HE66G2XH264214/?radius=25
only 4 accidents.
"Since Brilacidin was a topic (of course, as it should be) in Q1 business meetings at Basilea......."
I'd sure like to see some support for that before someone else takes it and runs with it. We were told that there was a likelihood of that occurring but to my knowledge it was never confirmed by a reliable source. Do you have one?
"Check the share price"
Okay.....here ya go:
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0157
-0.0018 (-10.29%)
Volume: 78,738
Last Trade Time: 12:55:21 PM EDT (market close early?)
Total Trades: 13
Dollar Volume: $1,223
"These compounds are under clinical development at phase 1/phase 2 for the treatment of acute bacterial infections, MRSA, and fungal infections."
"Are" is present tense.
"was a phase 2 not done???"
If they had used "were" as to acute bacterial infections and MRSA I wouldn't have disagreed with the statement. As far as fungal infections are concerned Brilacidin is not "under clinical development at phase 1/phase 2" and never has been.
As to "Who is the one lying here???" I wouldn't and didn't use the term lying. I don't know their intent but I do know they were mistaken. You're wrong all the time and I've never accused you of lying.
This isn't true:
"These compounds are under clinical development at phase 1/phase 2 for the treatment of acute bacterial infections, MRSA, and fungal infections."
That matters, doesn't it?
"Leo isn't running this show"
Of course he is. The show that he isn't running is the laser light show. The two guys running that show made sure they maintained control in the agreement. I'm sure they know his record.....they got your money and kept the control.
But of course there's something going on. For the first time ever there's a set of clinical trials going on. Alas there hasn't been an update on the scientific status of them, just a notification that a $1.5M note issuance has somehow been triggered by the trial start even though NNVC itself isn't running the trial.
There's always something going on at NNVC that inures to the benefit of Anil Diwan.
"And still a lot of nothing going on here" describing activities that might be beneficial to non-affiliate shareholders.
IPIX
Innovation Pharmaceuticals Inc (PK)
0.0175
0.00185 (11.82%)
Volume: 293,824
Total Trades: 21
Dollar Volume: $4,767
IPIX
Innovation Pharmaceuticals Inc (PK)
0.01565
0.00065 (4.33%)
Volume: 199,586
Last Trade Time: 3:07:00 PM EDT
Total Trades: 15
Dollar Volume: $ 3,078