Innovation Pharmaceuticals Inc (IPIX)

[farrell90]

Of course another possibility exists. The real question is why would Menon ask for the money now.

The debt has been accruing for a few years; and Dr Menon and his family know IPIX does not have the ability to pay the debt now.

The Menons are leading share holders. Even at todays depressed share price the value of their stock is greater than the funds claimed by Menon from IPIX.

It would be foolish for them to act in a way that would damage the stock price. Could that be why they have not stated legal action?

I believe the explanation for Dr Menon's actions are he expects IPIX's financial position to improve with a deal for some or all of its pharmaceuticals and he is placing his claim before that event.

JMO Farrell

How can LE explain a decision not to pay KM's unpaid salary while maintaining the debt due both of them as liabilities on the books of the corporation?
If the unpaid salary isn't to be paid KM for some legitimate reason wouldn't that same reason apply to LE? Why wouldn't this CEO acknowledge that he, too, isn't owed that debt (or "the Company’s intent not to pay them") and remove his own piece of that liability from the Balance Sheet NOW?
Or do you believe that a legitimate reason could exist for the back salary liabilities for KM and LE to be treated differently, and if so, what in tarnation do you think it might be?

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