Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

I had hoped for a response from the person I asked, but since you answered:
"He probably means that Leo was issuing shares during the buying, raising money for the company."

The CEO can't take that action without other things happening first...things he doesn't control.
The MFO deal is the only current financing available. If the MFO wants to exercise warrants to buy some Preferred shares (at $850 each for a share with a Stated Value of $1,080) from the Company it can do that. That's where the cash comes from.
Then, when the spirit moves them, the MFO can take a bunch of Preferred shares to the Company and exchange them (at their Stated Value) for common shares at a discount to the market. No money changes hands at that point.
The MFO can then take those common shares and sell them in the open market....obviously with no funds going to the Company.

So that's why I asked "How?" when the poster said "They raised enough money in the Corona-hype volume".
I couldn't and still can't connect the dots that explain why the MFO would have accelerated its purchase of Preferred (providing funding) and how that could be connected to the common share volume in the market using the known data.