Innovation Pharmaceuticals Inc (IPIX)

[John B]

Nasdaq Capital Market (Market Value of Listed Securities Standard*)
This is on Page 9 on the document here:
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf
We have had the closing price of $2, and the Stockholders’ Equity of $4 million, but lacked the net tangible assets of $5 million.

In a post a couple months ago I stated:
"CTIX has raised enough cash via Aspire to meet the shareholder equity requirement of $4 million. So, I guess if they want to go to the Nasdaq bad enough, they could raise cash via Aspire to get net tangible assets of $5 million, which looks like it does not require operating history. They would need to raise at least an additional $4 million via Aspire after Oct 27."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108199650

Later a email from Leo to Karin stated that he would need to dilute to uplist to Nasdaq:
"To accomplish that I would need to dilute quite heavily at the present price of about $3/share."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108216207

Last week Leo made this comment:
" Cellceutix now has over $11 million in the bank."
He mentioned it here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110183459

$11 million is up from the $7 million last quarter. So the dilution has already been done. Leo has raised enough money via Aspire to meet the Nasdaq requirements. IMO the dilution he did was well worth it to go to the Nasdaq.