Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

Shares Outstanding: 155,091,427

"During the period from September 6, 2017 to March 31, 2018, the Company generated proceeds of approximately $5.7 million under the 2017 Agreement from the sale of approximately 8.7 million shares of its common stock. As of March 31, 2018, the available balance under the 2017 Agreement is approximately $24.3 million."

"From April 1, 2018 to May 9, 2018, the Company has generated additional proceeds of approximately $2.0 million under the Common Stock Purchase Agreement with Aspire Capital from the sale of approximately 8.0 million shares of its common stock."

https://www.sec.gov/Archives/edgar/data/1355250/000147793218002302/ipix_10q.htm

So from April 1, 2018 to May 9, 2018, the selling pressure by Aspire is:

8M shares / 28 days = 285,714 shares/day

That's a lot of supply for MMs to play with. Now you guys know why the SP is in a constant decline.