Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

That's not a problem here. The cusip change done along with the name and ticker change proved that. The cusip change would have forced them to cover. Naked shorting isn't an issue here.

Why would it be? They make more money and do better with pushing higher priced stocks down.

Regarding legal shorts, it's only 1,214,089. That's risky for them on such a low volume stock since they'll have a tough time to cover if share price ever starts moving up due to major news.

FINRA Short Interest of IPIX

Settlement Date: 9/15/2017
Current Short: 1,214,089
Previous Short: 1,220,108
Change: -6,019 (-0.49%)
Average Daily Volume: 215,861
Days to Cover: 5.62

0.92% of the outstanding shares were short.

http://otce.finra.org/ESI

According to the SEC, only 11,557 shares (0.009% of the OS) were failure-to-deliver as of August 31.

20170831|45782D100|IPIX|11557|INNOVATION PHARMACEU|0.70

https://www.sec.gov/data/foiadocsfailsdatahtm






In Reply to 'scottsmith'
Alan -- question for you.

Do you think all the naked shorts will have to cover if IPIX uplists to a senior exchange?

If yes, do you believe that Leo should consider accomplishing the uplist as soon as possible, even if that means a reverse split?

I have to think that millions upon millions of naked shorts covering would only help the share price.

Thanks.