Innovation Pharmaceuticals Inc (IPIX)

[BonelessCat]

While I have a moment, uplisting. My response to the uplisting argument was in the context of those resistant due to some notion of uplisting manipulation. But, it also did not take into account the need to address the removal of the "ongoing concern" language when a company is not funded 2 years out. This presents several problems:

1) The financials have to look forward 2 years in order to meet the requirement. The total projected cost of what will be 5 simultaneous clinical trials would scare the bejeesus out of the average investor. $250 million? Where is all that money going to come from?

2) Which leads to unfunded clinical trials that are actually indirectly funded through NIH, NCI and other grants but cannot be counted in cost projections if they are not direct grants to the company. That means all pass-through costs of the trial and unfunded costs must be included.

3) The average Phase 2/3 cancer trial costs are about $20 million. Projecting forward, Kevetrin would anticipate at least 3 and possibly 5 Phase 2/3 trials in the next 2 years. The average antibiotic trial is somewhat cheaper at about $5 million per Phase 2/3 trial, and we anticipate 5 to 6 of these? Then there are possible Phase 4 trials that must be accounted.

There are more considerations, but to uplist to NYSE mkt and remove the ongoing concern language, Leo would need to show at minimum $100 million in the bank. He might get away with as little as $75 million, that is still a huge number for a company that has been operating on a $4 million to $7 million treaury.

Big, scarey numbers to the average shareholder. Never mind that the vast majority of those costs are covered by such groups as Clinical Trials Cooperative Group Program, Office of Cancer Centers, Community Clinical Oncology Program, NCI Community Cancer Centers Program, Specialized Programs of Research Excellence (SPOREs), and National Institutes of Health Clinical Center, among others.

I see no reason to prioritize uplisting, though one big pharma deal with an upfront payment >$50 million for B would greatly help cover the entire 2 year cost.

That email was received this morning and posted within 30 minutes of my opening it. It wasn't held onto at all.

Also, most agree with you that an uplist is good. However, most aren't in a rush to tell management how to proceed.