Innovation Pharmaceuticals Inc (IPIX)

[noretreat]

We've had this discussion. Net of short-term liabilities and not including what is owed to insiders they have no cash whatsoever. This has completely stymied the company, and the problem with Aspire being the only source of new cash is now obvious.

As the company approaches the Aspire cut-off of 25 cents I look for some sort of renegotiation with Aspire accompanied by a reverse split. This (or a miraculous white knight riding in to partner/acquire) may be the only thing that can stop this from going sub-penny.