Innovation Pharmaceuticals Inc (IPIX)

[FarmaZutical]

Many on this board bought in at very low prices years ago, and I congratulate you for that. It makes it significantly easier to stomach going to $4 and back to now $1.22.

I have invested in many biotechs and with a great deal of success. But never have I misjudged the direction of a company so severely as with CTIX. I am severely in red on CTIX and although I do think Dr. B. can help clean up I think it will take a considerable time to recoup my paper losses. I think there are two kinds of investors present on this board: The early birds who can be more laid back about the cataclysmic decline from the highs and people like me who have been here for some years and have been adding.

A couple of years ago, this board was a beach party. I have never been part of the hype and have never liked the CEOs PR style. He has done many things right, but the low pps shows that he has reached his limit. The science is very strong but it needs a steady hand. I applaud the CEO for realizing that he needed to take back seat now.

Today, this is my worst investment ever and I kick myself for not putting my money into some of the very successful companies that I am in.

But, hopefully, things will look better in a year or two. Still holding for the science. I never was much of an investment genius.