Saturday, December 22, 2018 8:01:47 AM
And this old saw?
"IPIX management is privy to information the IPIX stock sellers are not."
That's true, of course. Always has been and always will be. It would be nice to think that management would try to minimize that gap...it's called transparency...but the exact opposite is true (easy examples come in the form of a floated term sheet that hasn't been updated and a BTD application that the Company seems to be pretending never happened). The issue is whether management is making the best decisions based on the non-public information that they alone are privy to.
The underlying assumption for those willing to invest is that they are, like so:
"It seems, IPIX is planning for a busy future where they will put the space to good use."
I hope the lease renewal was justified. They had 5 years to think about whether they were going to renew. Whenever the issue of debt comes up around here the chorus is that "they don't have any" but they do...it's just not on the Balance Sheet.
"As of September 30, 2018, future minimum lease payments to Cummings Properties required under the non-cancelable operating lease are" $228K a year for the next five years. That obligation isn't treated as debt for accounting purposes but it is a very real obligation. Bailing on a lease is regularly settled for less then the remaining rent due for the full term to save court costs (although the full amount is ALWAYS the basis for a landlords claim in a ___) and that's presumably not an immediate concern, but management presumably HOPED for a busy future where they will put the space to good use. They made their decision in the middle of failing to secure financing that was contingent on three milestones, none of which were met. One can only assume that management hoped to meet them, but you get the point. The best laid plans.....
Ambitious? That's one way of putting it.
ps. It would be interesting to know what the other 4 IPIX employees do to get a better idea of whether they need all of that elbow room. Do these folks need lab space?
http://www.ipharminc.com/senior-management/
But can it core A apple?
Yes Ralph, of course it can core A apple.
Recent IPIX News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 01:30:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 09:25:58 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:05:44 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 01:00:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/30/2023 08:15:25 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 09/28/2023 01:00:08 PM
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