Innovation Pharmaceuticals Inc (IPIX)

[Justfactsmam]

SSmith...there is no BK "Can, is and Will" baked into the cards...

largest creditor is LEO...he is going to bury his own company? No way!

ASSETS greater than DEBT is not an entity which is subject to Bankruptcy... A company that cannot pay its bills on a cash flow basis (which has not been demonstrated) could be "insolvent" but not a bankrupt company.

DEBT greater than ASSET...is an entity subject to Bankruptcy...if they so choose. Otherwise it has to be forced upon them.

I am not aware of any other "creditors" at this point (who have judgments against the company...which LEO does not...only a debt that can be recast at anytime), but INVOLUNTARY BANKRUPTCY...requires 3 CREDITORS to join in a petition and is not easy to accomplish unless it is a debt ridden company, which IPIX,is not, by UNFRIENDLY CREDITORS...

Also...Bankruptcy Judges have incredible flexibility in accepting or rejecting such a petition...they dont like them and they have discretion to reject!

So unless Leo wants to shoot himself in the foot...all he has to do is pay IPIX rent and salaries of office staff and go on doing what he is doing with BP.

Glad to straighten your "misunderstanding" and "misconceptions" out anytime

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