Innovation Pharmaceuticals Inc (IPIX)

[kfcyahoo]

"I’ve become loopy from this investment. :0) The sentiment was rather than throw away $19k a month - and by now they have presumably wasted hundreds of thousands on that oversized and underused office space- use it for something of value. If Leo believes the stock is undervalued, the company can buy it back and reissue shares when the price reaches that unimaginable figure after the big deal is struck. The likelihood of that happening is zero and that may be for a good reason. At minimum, Leo would be better off using a portion of that money to hire an accountant who will tell him that it is not prudent to spend beyond his means. On a positive note, we closed up .0029 today."

"Become loopy" is putting it nicely. I doubt they've intentionally thrown 19k/month away, I suspect they failed to notify Cummings within prior to 6 months before the old lease was to expire. No notice, automatic renewal. I believe they fell asleep at the wheel. I know not why else they would spend what they do not have, other than to say they dropped the ball.

Anyhow, not sure how many occupy the office on a daily basis. I know they had a part timer in A/P(accounts payable) as of last October to cut those weekly account draining "executive" checks, among whatever other expenditures.

I check in with Cummings periodically for confirmation of the occupancy by ipix.

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