Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"It'll be in the next Q report." The false and/or misleading statement made in the last 10-Q*** will be explained in the next 10-Q? Is that the way things are done?

The issue of falsity has nothing to do with the absence of an explanation for the intended use of the funds.

There have been a number of explanations offered up:
"The Company is now in the process of searching sites for its future headquarters."
The fact is that their lease is up in September. That shouldn't have resulted in an URGENT need for funds. You and they both knew that was coming, right?

"I'm still guessing it was partly for escrow on a new office."
I hope not. That would be goofy. One does not typically urgently need funds for security deposits for property that they are still searching for. Besides, you do know that we're talking about $2,000,000, right? Please tell me that they aren't going to buy or construct a new headquarters building.

EMPLOYEES
As of June 30, 2017, the Company had 15 employees. The Company also conducts its operations using contractors and consultants.
https://www.sec.gov/Archives/edgar/data/1355250/000147793217004400/ipix_10k.htm

Employees
14 as of 07/01/2016
Verified Profile 01/2018
https://www.otcmarkets.com/stock/IPIX/profile

All that is required is office space nowadays, right? What would a partner think of a real estate investment at this point?

"And maybe for the CRO. "
Maybe. And maybe the late P2 Prurisol results are tied up because of it. Who knows?

I'm sure you're aware that not long ago there was an opportunity for a win/win for both the CEO and the Company relative to his half price sale. He had some options that could have been exercised profitably that would have provided the exact same amount of money that was raised at a quarter with half of the resulting dilution and he could have done so at a profit to himself.
Am I wrong about that? Am I just beating my drum? Are these bad questions? Everybody knows that the best way to stifle FUD is with some truth and transparency. Ironically that's what I'm asking for.


***"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
p.19