Innovation Pharmaceuticals Inc (IPIX)

[frrol]

We are now giving the MFO warrants instead of making them pay for them, but we get to force them to exercise them into preferred shares worth up to $2MM, or until November, whichever comes first. And we threw in some preferred shares as a sweetener. The rest of the Amendment is the boilerplate promise that if they ever convert the preferred shares into common, we will have those shares registered and available to them.

Our capital keeps getting more expensive as we continue to not attract a partner. Risk/reward.