Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

During the year ended June 30, 2019, the two preferred stockholders converted 3,891 shares of Series B preferred stock into 39.2 million shares of common stock. With regard to conversions, the Company reversed Series B preferred stock liability relating to the conversion and recorded as Additional paid-in capital at par value. The Company reversed the amount of approximately $3,068,000 based on the proportion of Series B preferred stock converted relative to the original total issued. As of June 30, 2019, 1,096 shares of Series B 5% convertible preferred stock were outstanding. During the three months ended September 30, 2019, the two preferred stockholders converted 890 shares of Series B preferred stock into 9.0 million shares of common stock. As of September 30, 2019, 1,584 shares of Series B 5% convertible preferred stock were outstanding.

https://www.sec.gov/Archives/edgar/data/1355250/000147793219006354/ipix_10q.htm

Base on the most recent 10-Q (page 28), the MFO converted a total of 48.2M shares (39.2M + 9M) as of 9/30/2019. They are required to file Schedule 13G if they are holding more than 5% of the total OS (212M shares), which equals to 10.6M shares. The fact that no schedule 13G has been filed means they have sold at least 37.6M shares (48.2M - 10.6M).

My purpose is to show investors where the real selling pressure (supply) is coming from. Those who believe or want you to believe that the current SP is simply a result of shorts selling shares they don’t have and the daily FINRA short sales #s are “proof”, but they don't mention and can’t deny the fact that the MFO have sold at least 37.6M shares and counting until a real deal is announced.