Innovation Pharmaceuticals Inc (IPIX)

[frrol]

There never was a buyout planned. That was foolish pumping chatter. What is planned is a B-OM and IBD license partnership.

This capital raise is for a lot more than the money needed to keep downsized IPIX afloat for a month. So no one should expect any strategic investment with a partnership, we wouldn't have raised $10MM if that were part of the partnership deal because we wouldn't have needed it. And this deal increase our diluted shares 0/s by a bit over 30MM shares, at a minimum, and if all goes well. If, say, we don't get a partnership and our shares plummet, the buyers get more shares as compensation because there is no floor on the conversion price, just a ceiling.

This is a good deal, considering our share price and need for capital. If a partnership doesn't happen, this is not good. Given what Leo said in this PR about needing funds to "advance Brilacidin", the partnership may have fallen through. If it hasn't, he worded it foolishly and should have just said "our pipeline". People selling believe Leo is saying we now have to continue developing Brilacidin on our own. No partner. $10MM is a lot...