Innovation Pharmaceuticals Inc (IPIX)

[frrol]

"What makes the fully diluted market cap more relevant than the undiluted market cap?"

The fully diluted market cap is the one considered by the market and and prospective acquirers since it is reflective of the # shares for buyout or would be outstanding if the pipeline were to be commercially realized (because the the warrants would be exercised).

The EL clause you cite is indeed in place but wasn't really a binding constraint, for the reasons we discussed. But as our market cap drops, you're correct that it becomes a possible concern and may have to eventually be addressed by management. Hopefully we won't get to that point. Good P results in the next few weeks and/or a B deal announcement would prevent that. Let's see.