Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

Kahuna, hope you are doing well. The 10-Q states,

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 stocks;

The key phrase to me is “one preferred stockholder”. IMO this stockholder needs to file 13G if he/she holds 5% or more shares. Back to its definition,

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.

The key phrase to me is “an individual”. One preferred stockholder is an individual.