Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

The need for sudden cash could have been for a variety of one time needs. Since many are guessing, I'll add my guess/speculation.

Needed for attornies reviewing final contracts on a Brilacidin deal.

Needed to make final payments to CRO and analyze unblinded Prurisol data.

The list goes on....

So, I've finally read the common stock purchase agreement and it clearly allows for terms outside of the regular purchases provided both sides agree. Aspire must have dictated the price for this transaction.

https://www.sec.gov/Archives/edgar/data/1355250/000147793217004400/ipix_ex106.htm

however, in no event shall the Purchase Amount of a Regular Purchase exceed Five Hundred Thousand Dollars ($500,000) per Business Day unless the Buyer and the Company mutually agree. The Company and the Buyer may mutually agree to increase the number of Purchase Shares that may be sold per Regular Purchase to as much as an additional 2,000,000 Purchase Shares per Business Day. The Company may deliver additional Purchase Notices to the Buyer from time to time so long as the most recent purchase has been completed. The share amounts in the first and second sentences of this Section 1(b) shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split, or other similar transaction.

In Reply to '58nout'
No mystery here. Contracts are being signed. Clinical reports are being finalized. Lawyers and consultants are involved. All of this requires CASH.

Here's a hint. If all of this happens between reporting periods, none of this will show up in either accounts payable or the balance sheet. Period.

Have a great Mothers Day.

GO IPIX - stay the course