Innovation Pharmaceuticals Inc (IPIX)

[BioHedge]

The new additions to the board is a positive for the company but I'm completely and totally underwhelmed by Leo's initial board selections. I'll need to dig into each in more detail but there is not one who passes the eye test, esp for a company which seems to have unlimited potential. I'm shocked as there isn't an "A" level player amongst the new board members. And I'm not even sure the board members are at the "B" level. Sure two are solid Doctors and throw in a semi-senior finance guy but none of these men would be candidates for boards looking to go public via the traditional route.

IMO a board of directors most important roles are to give shareholders confidence that the business; one, is in good hands, two, provides market exposure (when funds do their DD) and three has an extensive contact list to grow the business. I'm not sure any of the current board members meet those criteria.

If CTIX has the world's best anti-biotic platform and a very promising anti-cancer line, then why aren't there more "A" player on the board? "A" level board members generally don't sign on to fly by night operations or questionable companies and investors know that, hence it is critical to have board members with brand name recognition. It appears that Leo filled the board with his "own" guys, none of which give me more confidence in the business. This initial board is a real concern in my book.

I'm still going to stay long CTIX because the science is so strong but his board selections have been a disappointment and make me wonder "why the small ball" at this point in development?