Innovation Pharmaceuticals Inc (IPIX)

[Chronic]

You do realize that Aspire has over 10 million shares to sell in the open market right? It's going to be tough to hold these levels for very long with that type of selling pressure.

Leo's PR purposely tried to mislead investors by saying they sold Aspire 5,263,158 shares at a market price of 38 cents, when in fact they sold Aspire 8,000,000 shares at steeply discounted 25 cents. Nothing illegal as the additional 2,736,842 shares are mentioned in the last paragraph as "commitment shares", but certainly formatted to mislead investors. So the sales tally for Aspire for this quarter is up to 16 million shares for a $4m raise. Assuming they've already sold 4 or 5 million shares into the market, we still have over 10 million shares left. Couple questions: Why did they PR this 8m share raise, but hid the previous one in the last 10q? What happened to the original $30m financing deal that was signed last year? Nobody knows.