Innovation Pharmaceuticals Inc (IPIX)

[frrol]

I think management is doing a terrific job of financial focus as soon as they sensed an impending financial crunch. Cutting salaries, staff, office space, clinical development, patent rights, etc. You don't want to see this happen, of course. As I've said since November this is now "deal go-time" for B, and soon P. But I took comfort in knowing we had a solid equity line in place. That is apparently not the case. Though it was comforting to hear (from someone who emailed Leo a couple weeks ago) that the line is still available - at these unappealing and opaque terms, I am concerned. You don't want this to happen either, under any circumstances. You want clarity on your company's ability to access reasonable capital.

Management has had its stumbles. I'm hoping we tripped right over the first deal milestone.