Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"In the 2 quarter Q - we owed a CRO 2.7 MILLION and now we are down to 1 Million. SO our cash did go but atleast we know that 1.7 MILLION went to our Prurisol CRO and now we owe them the final 1 Million and have 3.3 million left."

I believe that's a misreading of the report. The 2.7M and 1M are from "a table that presents our contractual obligations and commercial commitments as of March 31, 2018" so it doesn't reflect current liabilities for services performed before 3/31 but rather potential future liabilities. What it says to me is that the existing contracts with CRO's for their services have dropped in value from 2.7M at 12/31 to 1M on 3/31. Some of that may represent work done and paid for in the quarter, some may represent work done in the quarter and yet to be paid for, and some of it may represent contracts that were cancelled.