Innovation Pharmaceuticals Inc (IPIX)

[frrol]

No. We had to find another source of funding because the dollar volume of the market trading in our shares (and now the share price) was below the floor set in the 3-year Sep 2017 Aspire agreement. The last two 'side-agreements' were Aspire's way of accommodating our need for 'emergency funds' but our delays and P trial costs kept growing. The milestones agreement was the last accommodation they were apparently willing to do. They're done with us until our equity securities trade back within the 2017 Agreement levels. See the 10-K btw.


So we had to find funds elsewhere. We weren't able to sign a B deal in time to get the stock price up, but we did find an MFO with healthcare experience interested in investing in some convertible preferreds.