Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

Here’s proof that the MFO is allowed to sell/short during the first 90 days of the lock-up agreement. From today’s 10-Q (page 20),

In December, 2018, one preferred stockholder converted all of its 1,300 shares of Series B preferred stock into 12,734,258 shares of common stock; another preferred stockholder converted 10 shares of Series B preferred stock into 74,130 shares of common stock, with a total of 12,808,388 shares of common stock being issued upon conversion of the Series B preferred stock.

https://www.sec.gov/Archives/edgar/data/1355250/000147793219000383/ipix_10q.htm

12,808,388 shares / 179,572,948 shares = 7.13%

The MFO is required to file Schedule 13G for holding more than 5% of the OS.

When an individual acquires beneficial ownership of a 5% to 20% stake of a particular stock, that individual must file either Schedule 13D or 13G within 10 days of the acquisition.

https://www.investopedia.com/terms/s/schedule13g.asp

We know the MFO hasn’t filed 13G, meaning they have less than 5% of the OS. So they sold at least 2.13% in 2018. The lock-up agreement ends on 1/9/2019. My guess is they covered their short positions right after conversion, that’s why they don’t need to file 13G within 10 days.

The best way to refute fake shares as the selling pressure is to show where the real selling pressure comes from.