Innovation Pharmaceuticals Inc (IPIX)

[kfcyahoo]

"“ITEM 2. PROPERTIES

Our current Company headquarters are located at 100 Cummings Center, Suite 151-B, Beverly, MA 01915. The Company’s lease agreement automatically renewed with Cummings Properties on October 1, 2018. The lease is for a term of five years ending on September 30, 2023, and requires monthly payments of approximately $19,000. We are currently looking to sublease this property.”

Ipix doesn’t need it now?"

I believe Ipix was required to notify Cummings Properties at least 6 months in advance(that would have been 4/1/18) if they were not going to renew the lease. My guess is someone was asleep at the wheel(and his money management 101 college course), but to answer your question, it appears they (whoever they are, how many, and where?) longer need it(Beverly, MA space).