Innovation Pharmaceuticals Inc (IPIX)

[John B]

Yes, I realize that. We would have much less dilution. It is fact though, if he issues a million shares to Aspire, he gets 4.3 million versus 3.3 million. As you point out in reality though he gets the 4.3 million for issuing 1 million shares versus issuing 1.3 million shares. Another way of looking at it is those 300k extra shares would have had a market cap of about 1 Million dollars.