Innovation Pharmaceuticals Inc (IPIX)

[nerby]

It sure takes some saltpeter to be long IPIX these days. On paper, my investment is red as a beet. Emotions and fight-or-flight adrenaline bust in the door on logic, flip their middle fingers. Logic jumps off the sofa and runs out the back door.

And then I just have to stop and do the math. It goes like this: my estimation of IPIX's current value of its science and drug candidates, divided by the number of IPIX shares, times my number of shares. And then I'm good.

When it comes to the estimation of future value of IPIX's science and candidates the edges of my math get wide and volatile. I could get far, far beyond good, or not. IPIX could be worth nothing more than it is today. But that's the future. Worst case, I'm still good. I'm relishing and learning from the ride.

The people buying and selling IPIX shares every day, the "market", believe I'm an idiot, that a share of the company is worth a fraction of my current value estimate. Who are these people trading less than 1% of IPIX shares each day and determining corporate value and therefore the cost of raising the capital that IPIX needs desperately? It's not me, I only buy. It's not the majority shareholders. It's just small-potato folks who are betting IPIX will run out of money before they can bring a product to market, or that IPIX's management has somehow so far successfully hoodwinked both the FDA and the SEC.

I like my bet better.