Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

Nearly everyone except Leo loyalist said that Leo made mistake in

a. Not raising the money when SP was high (Leo loyalist praised him for not diluting)

Agreed. This was definitely a mistake. Much more so in hind sight. Why raise money at $4 when the stock will soon be $9 or $12, right? Definitely the wrong move but mistakes are made. He was focused on maximizing shareholder value rather than ensuring a lesser amount of it.

b. Not continuing with B-ABSSI - his moving into P and K approach showed how he took co into dumps

You're forgetting accelerating B-OM phase 2 and conducting B-UP phase 2. This is where larger value in the Brilicidin platform will be unlocked. It's now anchored in three indications and has four more cooking in preclinical studies. You're passing judgement before the true verdict on Leo's gambit is in. If no deal is done and the company fails you'll be right. If Leo was correct and lands a whopper of a B deal based off B-OM/UP he will be vindicated. It's that simple.

K showed modulation in 2/2 patients. If we can replicate that with a pill in 10 we are in a whole other league.

I'm going to continue to address Prurisol until 2019. It died in 2018 and should be buried. That is also the company's sentiment with the scrubbing of the website. In hind sight it was an unfortunate failure and ended up a large waste of company capital.

c. He allowed co to stay on ITC-pinks - Leo loyalist praised him for saving $7500

We don't have all the exact data and timelines on the NASDAQ debacle. It was a mix of mistakes and getting nuked by the shorts at just the right time.

Overall Leo did not have capacity to run an actual company - he acted and acts like a mom-pop shop owner.

He made mistakes but ultimately you signed up for the company with the CEO retaining voting control.


We can't judge Leo's strategy until we see the fruits of B-OM/UP at the negotiating table. It doesn't take a loyalist to see that all the data is not in yet to make that call.