Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

Reasonable perhaps, but I don't share your "self evident".

"I think the timeline between purchase of preferreds to conversion and sale of common in the market is hours, not days. (And I wouldn't be surprised if they happen practically simultaneously.)"

This doesn't seem to comport with that belief:
"During the six months ended December 31, 2019, the two preferred stockholders converted 1,181 shares of Series B preferred stock into 15.0 million shares of common stock. As of December 31, 2019, 1,440 shares of Series B 5% convertible preferred stock were outstanding."


That's a pretty substantial inventory of preferred at 12/31. "During the six months ended December 31, 2019, the Company issued 1,192 shares of its Series B 5% convertible preferred stock, for aggregate gross proceeds of $1.2 million, upon exercise of 1,192 warrants."
Per the CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIENCY at 12/31 the MFO "only" converted 291 preferred shares into common in the quarter then ended.

I agree with your logic but don't see it in the numbers.
"They (could have) raised enough money in the Corona-hype volume" but to say that they DID is speculative and not entirely consistent with the MFO's previous practice.