Innovation Pharmaceuticals Inc (IPIX)

[LilyGDog]

Karin, thanks for your insight into Leo's character. It's good for you to reaffirm what I already believe; these are good people doing great things. With our gut feelings, solid science and a little luck, IPIX will hit double digits sooner than later. Go Leo & IPIX!

About the CEO. One doesn't loan approximately $2mil and take a huge equity position in a company unless they expect it to succeed. Leo's actions in these early years are part of why I trust him. That along with having met him at a Biotech Showcase and a shareholder meeting.

There were other CEO's I met at the Biotech Showcase that I got such a bad feeling about I took their stocks off my watchlist. I won't invest in a company unless I trust a CEO. I'm not always correct, but, that's just how I play this game. I don't expect perfection, but, if I didn't trust him overall I'd be long gone.

It was extremely risky for Leo to loan money to the company in 2010. No other financing would have been available that wasn't highly destructive or at substantially higher interest rates (at least double) than on Leo's loan.

The companies first clinical trial wasn’t listed until August 2, 2012. A company short on cash without a clinical trial was much higher risk than now. There weren’t even enough funds to pay executive compensation in years 2010 through 2013. Leo and Dr Menon had deferred salaries until 2014.

It's still a risky investment, as all biotech is, but, it's a risk/reward bet I'm willing to take.

We should have 5 completed ph2 trials by year end. Leo has been moving things along steadily. And, frugally.