Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

That's absurd. The term sheet wasn't "reported" in the 10-K, it was simply mentioned. There was no obligation to do either. The fact that a 10-K is audited and a 10-Q isn't has nothing to do with this.

The fact that the term sheet wasn't mentioned in the 10-Q doesn't indicate that it's dead but it suggests it. It would have had the same promotional and informational value in the 10-Q that it had in the 10-K. Either it was dead or the Company chose not to mention it.
According to the 10-K "The Company signed a non-binding term sheet in August 2018".
Has it been mentioned in any of the 18 press releases issued since that date? Or in any of the 9 issued since the 10-K was filed?


"The term sheet is still active until it’s reported as inactive in the annual report."

The Company has even less of an obligation to report the death of that term sheet than it did to report the rejection of the Breakthrough Therapy Designation or the "more details regarding planned Phase 3 trials of Brilacidin".
No one can stop you from thinking that it's still active but your argument in support of the likelihood of it has no basis in the 10Q and 10K requirements that you use for support. Waiting to see if it is mentioned in the 10-K may be a good way to kill a couple of months but whether it's in there or not won't be a function of any regulation that is applicable to Form 10-K and is not applicable to Form 10-Q.