Innovation Pharmaceuticals Inc (IPIX)

[F1ash]

93.1MM vs. 137.8MM is 44.7MM additional shares or 48% dilution.

We have a discrepancy.


“During the period from October 25, 2013 to March 5, 2015, the Company had completed sales to Aspire Capital totaling 8,890,379 shares of common stock generating gross proceeds of approximately $20 million.

“During the period from March 30, 2015 to June 30, 2017, the Company had completed sales to Aspire Capital totaling 14.7 million shares of common stock generating gross proceeds of approximately $16 million


“From July 1, 2017 to September 1, 2017, the Company generated additional proceeds of approximately $2.1 million under the March 2015 common stock purchase agreement with Aspire Capital from the sale of approximately 2.6 million shares of its common stock.


8,890,379+14,700,000+2,600,000 = 26,190,379

The dilution through Aspire was not ~44 million shares it was ~26 million.

Perhaps the $16 million Aruda settlement was a part of your dilution #?

I quoted the SEC filings for the Aspire dilution so I am confident in my numbers.