Innovation Pharmaceuticals Inc (IPIX)

[frrol]

The MFO would not be "hedging", because the Preferred Shares don't have downside exposure. Keep in mind that they are convertible at market, as are any warrants they buy.

What they could be doing is selling, if they converted any to common. We don't know if they've converted anything yet. They may have, but family offices tend to be investors and there's no reason to. They have downside protection, as long as they think the company is viable.

The MFO's best play, if they think the company is viable, is to convert at as low a price as possible (and thus get as many shares as possible) and not sell them until we get that hopeful B deal or BTD. Of course this dilutes us, which is a bummer, but this was the best capital deal we could make. Capital ain't free.