Innovation Pharmaceuticals Inc (IPIX)

[scottsmith]

Yes, I can.


"SEC Rule 405 the safe harbor, under the Securities Act of 1933, essentially mirrors the common law definition of materiality. Specifically, Rule 405 provides that "when used to qualify a requirement for the furnishing of information as to any subject," materiality "limits the information required to those matters to which there is a substantial likelihood that a reasonable investor would attach importance in determining whether to purchase the security registered." SEC Rule 12b2 under the Securities Exchange Act of 1934, differs slightly from Rule 405, defining materiality as information "to which there is a substantial likelihood that a reasonable investor would attach importance in determining whether to buy or sell the securities registered."

Clearly, investors need to know the initial payment amount to decide whether to purchase IPIX stock.

https://corporate.findlaw.com/finance/sec-release-on-materiality-in-financial-disclosure.html