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I believe he's implying that in order for ipix to keep going they have to sell shares, in this case the mfo, on near daily basis(ipix has indicated they need ~13M/year to meet expenses-1M+/month or 35.1K/calendar day(at .14/sh that's 250,000sh/calendar day added to the share count)). Don't forget, the mfo gets a discount of ~15%.
77k shares @ 14 cents yields a whopping $10.7K ~ 2000 sh back in the high flying days. Chump change.
Nice to know you have access to his ears. He's(LE) so busy he's likely forgotten about the Boston Business Journal promo's, sorry articles, penned by Don Sieffert. Remind him of those cheery articles. DS still works for BBJ, ask LE to request Sieffert to do a follow-up. There's been a lot done by ipix since DS's last article.
"You seem to forget that Leo purchased Brilacidin in the Polymedix asset deal.. The promise of which is currently our future."
To your first sentence, no, I haven't forgotten. To your second sentence, I would replace the word "promise" with potential(ie- no promise was ever made, was there?).
"Today no different than any other from the past couple of years."
You are correct, kind of. A big difference is the share price today(.148) when compared to the past, excluding the sp performance between mid October of last year(2018) thru April of this year(2019) when we typically settled below todays closing price (.148) and a few astute investors, some who've crowed about their astuteness on this mb(not me,preparing for impact), have walked away happier with the sp during that time than pigs in sh!t(they are not new and lucky newcomers to this board, have been here a long time).
"Naysayers still predicting doom and gloom." You describe those that predict doom and gloom as naysayers. I would argue rather than describing it as doom and gloom, I would say concern and frustration is more accurate.
LE would be long gone from the company I work for based upon performance, among other things.
"I suspect sounding desperate is part of the act."
After all these years of listening to a certain group of posters who have "taken advantage of the dips" and who are ready and loaded with stink bids", I suspect these proclaimed longs are not long at all. They have no concern of a declining share price but rather high hopes as it(a declining sp) benefits them.
"That was this BioVie when they were at that address: NANOANTIBIOTICS, INC." Perhaps, when was that? There tentacles appear to be long.
From BioVies 10q, "6. Related Party Transactions
On July 9, 2018, Jonathan Adams (COO) entered into an Accord and Debt Satisfaction Agreement with the Company in which he agreed to release the Company from all liabilities including the original contract to defer payment of his accrued salary dated March 23, 2017, the promissory note issued by the Company to defer payment of accrued salary; and subsequent unpaid salary, totaling the amount of $534,722, and received cash of $25,694 in satisfaction. The gain of $509,028 on the settlement of debt was reflected in the additional paid in capital.
On August 8, 2018, Barrett Ehrlich (Independent contractor, related party to Elliot Ehrlich and shareholder) on behalf of The Barrett Edge Inc. (“Barrett”) entered into an Accord and Debt Satisfaction Agreement with the Company in which Barrett agreed to release the Company from all liabilities including the original contract to defer payment of accrued consulting fees dated March 23, 2017, the promissory note issued by the Company to defer payment of accrued consulting fees; loan to the Company for $14,000, and subsequent unpaid consulting fees, totaling $543,014, and received cash of $131,333 and 493,333 common shares in satisfaction. The common shares were valued at the market price on the date of settlement at $0.13 per common share. The gain of $361,548 on the settlement of debt was reflected in the additional paid in capital.
On July 9, 2018, Elliot Ehrlich (former CEO and shareholder) entered into an Accord and Debt Satisfaction Agreement with the Company in which he agreed to release the Company from all liabilities including the original contract to defer payment of accrued salary dated March 23, 2017, totaling the amount of $222,028 the promissory note issued by the Company to defer payment of accrued salary; and received cash of $22,203 and 222,028 common shares in satisfaction. The common shares were valued at the market price on the date of settlement at $0.06 per common share. The gain of $186,503 on the settlement of debt was reflected in the additional paid in capital.
7. Commitments and Contingencies
Office Lease
On October 1, 2018, the Company executed a lease agreement with Acuitas Group Holdings, LLC (related party) for the Company’s office at 11601 Wilshire Blvd Ste 1100, Los Angeles, CA 90025. The lease is a month-to-month lease that may be cancelled upon 30 days’ written notice and requires monthly payments of $1,000.
VS.
5. Commitments and Contingencies
Office Lease
On January 1, 2014 the Company executed a lease agreement with Cummings Properties for the company’s office of 270 square feet at 100 Cummings Center, Suite 247-C, Beverly, MA 01915. The lease is for a term of five years from January 1, 2014 to December 30, 2018 and requires monthly payments of $369.
Employment Agreements
On April 11, 2016 the Company entered into employment agreement with CEO Jonathan Adams. The Company’s agreement provides for a three-year term with minimum annual base salary of $250,000 per year. Effective April 11, 2016, the (previous) CEO/CFO(guess who) resigned.
Thx Karin,
I recall that. I'm skeptical on a couple fronts. The study was to enroll 20 patients at MD Anderson, in Texas, I believe. Then a hospital affiliated with Dartmouth was added late. I called the Dartmouth Hospital and spoke with someone affiliatedwith the study(wanted to know if any of the two enrolled patients were treated there. The person suggested I call the company). I never determined the answer.
My hunch, based on P 2b snail pace perlack of funds(come to find out), I suspect that trial ran into a similar wall.
IDK
Perhaps I missed it. What additional detail (more specific detail) has ipix provided beyond the HemaSphere journal review?
My notes in color.
"Summary/Conclusion:
Our results show kevetrin alters several key genes(which key genes, how are/were they altered, and how many key genes are there, and how was the cellular metaboism altered?) and cellular metabolism. Along with cellular data, this study could provide a rationale for an experimental trial in AML patients, especially those carrying TP53 mutation who actually have very few therapeutic options."
They should not be so vague.
"The CEO has been very frugal and has done a lot with only a little dilution."
Frugal is not a word I would use to describe the CEO based on a couple of things. For starters, the lease agreement, executives salary, and poor management. Those are main parts of why ipix finds themselves in the position they are in today. I believe most frugal, and wise, CEO's would have figured out a better outcome to/and aviod(ed) where we lie today.
jmho
Thx, fair enough. Assumed you were speaking of ipix.
From page 14 of the last 10q(p.e. 3/31/19): "On October 1, 2018, the Company’s lease agreement with Cummings Properties automatically renewed. The lease is for a term of five years ending on September 30, 2023, and requires monthly payments of approximately $19,000.".
Why let it automatically renew as staff is being reduced? It was too big when they maxed out with 14-15 employees, why camp there with 3-5? Did they fail to notify the landlord in the time stipulated in the lease agreement? Whose head rolled for that "little" boo-boo?.
Just posting for the record, ~19k/month not 15k/month. BioVie operated in another suite, designed to accommodate 5 people, out of the same building f or $379/ month. Something definitely does not add up.
"My plan, especially after an exceptional week last week,...."
Exceptional week? Ipix closed at 17 cents this past Friday(8/2/19). The prior Friday it closed at 17.67 cents. I guess last week continues the excellent tradition of the past ~ 5 years of returning shareholder value(to shorts).
Can't argue with that.
A 1:2 reverse split at todays price of~ 17 cents would "rocket" ipix to....hold on... 34 cents!
Has nazdaq lowered their standards?
"Also if KM is no longer with the company and is not a 5% holder do they still report on him? I would think we'd at least see something saying he sold some shares or exercised the warrants."
I doubt it. As some posters have noted The Erhlich/Menon gang have attempted to bring life changing drugs to the world, opened their pockets fronting(loaning) millions of dollars(to more than one company) but have been whacked down by those with ulterior motives. It's smart of them to list everything as it's all traceable, including the loan(s).
These guys have grown to big for their britches. It would be considerate of them to provide a time and location of the "special meeting".
From the form 14: Dear Stockholder: Notice is hereby given that a Special Meeting of Stockholders (the “Special Meeting”) of Innovation Pharmaceuticals Inc., a Nevada corporation (the “Company”), will be held on [______], September [__], 2019 at [_____] a.m., local time, at [__________], for the following purposes:
From the 7/29/19 pr(based on todays form 14 filing, I'm beinning to think that following will put in same drawer as "nazdaq lising", P2b interim, 2017 partnering, 20 patient ph 2 k, 3rd q2017 P 2b trial completion) :
Bertolino continued: “The Alfasigma licensing agreement, importantly, enables us to access non-dilutive capital immediately and potentially into the future, via structured milestone-based payments and royalties. Equally important, we can now dedicate further internal resources to moving our clinical portfolio ahead—developing novel oral medications for hard-to-treat diseases like IBD, Oral Mucositis and Cancer. Successfully completing additional strategic alliances and licensing deals remains a primary objective, towards which we are making notable progress, with multiple active advanced-stage negotiations ongoing. We are excited about the Company’s prospects heading into the second-half of 2019, and anticipate providing future updates as events unfold.”
You note, in part, "... . But HOPE is alive and well with IPIX investors. And no hope by those who are negative is really a buy signal...."
People have lost a lot based upon thoughts like that. Some clearly have made money as the stock has declined, ha? When the below post was made the share price closed the week at, in the posters words an extremely undervalued price ~ 90 cents(note, it traded that week between .70 and .95- not sure what the sp was at post time).
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131395419, which reads
"A stock that has been beaten down (imo unfairly) to the point of being EXTREMELY undervalued.. while facing a pivotal time for the company - 4 key data sets on the horizon - potential partnership (s)..
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$"
"What? That's a pretty aggressive schedule."
Compare the original prurisol 2b declared schedule to the final. Recall 2017, the year of a deal?
""Vertex’s decision to go after deals comes during one of the busiest M&A seasons we’ve seen in years, with a host of major players opening up their checkbooks to buy new drugs for the pipeline. ....""
Vertex would be nifty to partner with. Right in the Seaport District of Boston, a well known BP, and a quick ferry ride from Beverly to Rowes Wharf. I'll pay for the two life preservers, if they are skittish of the water, as well as any dramamine in the event they have squeamish tummies.
Sorry, attachment was not included(my bad, lousy cut and paste). Hopefully, some of you are football fans. To change thesubject, while we wait, I encourage football fans(if there are any) to you tube a 2019 documentary about Nick Buoniconti, a hall of fame line backer for the Patriots and Dolphins back in the 60's and 70's. One of his sons was crippled in a football game, which the documentary mainly addresses. He was the bakers son to which I referred, but provided no reference.
My apologies.
He died two days ago, at 78. That 72 team is the only undefeated nfl team.
I presented a question, "Who does that in Beverly(rhetorical question)?"
Tough question, I guess.
I can only envision the ceo in a skirt. He's no baker's son:
"I think grammatical form can be significant in terms of communicating the company’s progress and plans. A good editor or even a business writer can make a big difference in how things are received by investors. I commented on the phrasing of a sentence in the most recent update and Crazy called me to task saying he had no trouble with the sentence in question. I called it oddly phrased or something like that. He said he didn’t think it was odd but he quoted (twice) my re-write of the sentence in his response to say it wasn’t odd to him. The sentence put out by IPIX was worded as if written by a person whose first language was not English.
Anyway...Leo has agreed to send me all future PRs for proof reading prior to publishing."
My argument exactly. A good secretary, which I've discussed here before, and directly with management, frees executives from a lot of BS. Screen calls, modify executive letters to be grammatically correct(Katherine Gibbs School types), open and screen the mail. A good one pretty much controls the flow of an office at the lower levels and allows the execs to better do their jobs.
Who does that in Beverly(rhetorical question)?
Anyhow, I get and appreciate the humor in your post. Thanks for taking on the task.;)
"Can't make a point without a deception? Maybe take an online course in quotation marks. The basics are: You put them around statements that people actually make and attribute the statements to the person that actually made them."
Well said. "Back to school", and not the movie, is recommended to the poster whom you replied to.
"I just wanted to remind everyone of something else that's sitting on the backburner." Food left out too long tends to go bad. Dad(ceo) said he hopes to be able to pay the gas and electric bills next week! He found another can and styrofoam cooler.
"Who on earth would want your shares?!"
Clearly, not LE.
You clearly are biased.
"I think you would be hard pressed to find a place to park your horse at the mall but maybe your doctor still uses leeches. Ipix on the other hand is using the newest technology to deliver their drugs".
I don't drive(ride) a horse, I have ridden in a Ford Mustang if that's any consolation.
Regarding this company, they have openly stated, multiple times, that they MAY(and this is Erhlich's potential out) possess the next best drug(be it for cancer(k), psoriasis(p), oral mucositis, ibd, UP, upon me, whatever, unmet medical need ring a bell?
My simple question, are we to believe what we previously were told? Where are we now?)
"Could not agree more. If people were to use the “If it’s not broken, don’t fix it” mentality, we would never have the Internet like what we have today.
Why did Verizon or AT&T go from 3G to 4G to now 5G??? Advancements and improvements is the name of the game.Exactly"
Exactly, which is what I basically argued. Nothing happens overnight, things take time. When America, as most know it, was first inhabited by the Europeans, the Pilgrims, and Jamestownians traveled on foot, or horse. As time went on, better means of transport were developed, but they did not give up the old ways until other methods were tested and proven, and some, though a much less percentage still do use antiquated means of transport . The golden spike connecting the railroad, east to west in the late 1860's in Colorado, Henry Ford and the model T making automobiles affordable in the very early 1900's, the Wright brothers introducing flight to America(former bike shop owners) early 1900's.
" Ipix is doing a great job moving their drugs forward. They have always know that a better delivery system would help the drugs be more effective."
Were their initial pipe-lined, highly proclaimed drugs, better than what was, and are, as insinuated, available today?
Don't put off for tomorrow what you can be done today. This company seems not to appreciate that ethic.
I hope you're right based upon what we've been told. However, I've seen no figures or real estimates, nor have I seen any classified advertisements for new hires to fill up that void of office space in Beverly, MA to confirm what we've been told.
True or false,investors of ipix/ctix have been told many more things which have fallen short of an initial pr and now lie in the graveyard of forward looking statements?
Let me count the ways.... some have blind faith in this company, or...
https://poets.org/poem/how-do-i-love-thee-sonnet-43
You responded: "Fortunately we aren’t in your world..."
So says you in response to the statement "...one improvises and improves as you go. You stick with what works but always seek to improve and become more efficient, and once you confirm a better way you institute it(while using the proven initial way until then).Seldom do you change from something that works, especially when funds don't avail that option."
You, evidently, happen to disagree with that train of thought.
"You transition because the new technology is better for the potential patients!"
Apparently this team can't walk and chew gum at the same time, or investors are not getting the full story.
In my world experience, one improvises and improves as you go. You stick with what works but always seek to improve and become more efficient, and once you confirm a better way you institute it(while using the proven initial way until then).Seldom do you change from something that works, especially when funds don't avail that option.
Take it to the hoop and plan a different approach based upon the weakness of the competition observed during the last drive, but don't put the ball down before the whistle blows.
From yesterday's pr:
" Company building on momentum from recently executed licensing agreement with Alfasigma S.p.A.
-- Focus on transitioning to oral formulations of first-in-class drug candidates, and securing additional strategic alliances and licensing deals."
Momentum definition:
1.
PHYSICS
the quantity of motion of a moving body, measured as a product of its mass and velocity.
2.
the impetus gained by a moving object.
"the vehicle gained momentum as the road dipped"
I'd say investors, and ipix, have lost momentum as the sp has tumbled. I know, it's NR's fault, has nothing to do with lack of execution on managements part, wasteful spending on a quarter acre of office space for 2 to 4(??) employees.
Why "transition" to new formulations when the originals were, as investors were led to believe, stellar? Fix a leaking roof before you replace any resultant ceiling damage. The ceiling wasn't damaged, was it?
IDK
All I do know is, in any other business, be it air flight(including NASA), surgery, construction, hotel-restaurant administration, etc, the caliber of management displayed through the years by the cfo as well as the booted Dr would not be tolerated.
"Great news indeed!!! LOL"
No argument!
What a joke! Management must be busting a gut in laughter!
LOL at anyone who delves into the ipix waters.
Great news! I too was away the past few days and, in preparation for departure, missed the grand news. Made it back, safe and sound, after docking and re-supplying the space station.
Over and out.
p.s- the above are, or may be considered, forward looking, even far fetched, a little white lie-ish possibly, statements.
"I think that I am a somewhat different kind of IPIX-long. I have a level of confidence in Leo that probably is not shared by many other shareholders."
Yeah, you're crazy. You requested, I obliged.
"Why would he say "human testing anticipated to start as soon as year-end" if the company did not know where funding would be coming from?"
Fair question. Remember they "anticipated completing the Prurisol 2b trial in 3rd quarter 2017?
FYI(I may be wrong),I've always considered icing and frosting to mean the same. Betty Crocker please chime in.
"icing on the frosting."???? What does that mean?
Perhaps you meant "icing(frosting) on the cake?
idk