Innovation Pharmaceuticals Inc (IPIX)

[noretreat]

I held a large position here starting in 2011 and for several years. After the decision was made not to pursue P3 ABSSSI, I exited my long position and started occasionally trading in and out. Unless the situation changes dramatically I am no longer going to do that either.

Under current conditions, no big pharma is going to pay significant partnership money upfront for the IP held by IPIX. There may be one that will buy the IP outright...for perhaps $50 million, but I consider that unlikely. This possibility becomes less likely every day as there is basically no money, no address, and soon no employees. An R/S financing deal is probably about the only option moving forward, and will leave shareholders with nickels....maybe less.