Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"Another large increase "in the 10K" from the 328 mil last month."

Quantifying the increase, which was from 329M on 6/30 to 344M on 9/10....~15M shares.

The reason for the issuances was interesting.
They all went to Aspire, 6.25M as a commitment fee which didn't generate any cash and 8.5M in sales at approximately $.21/share ($1.8M). Open market trading during the same period happened at $.21-$.40.


The 10K said "As of June 30, 2020, we had approximately $6.0 million in cash compared to $0.6 million of cash as of June 30, 2020, and as of the date of this filing, we have approximately $6.4 million in cash."
If they had $6M and raised $1.8M but still had $6.4M at 9/14, why did they have to sell any shares to Aspire at all?

The 10K wasn't due until 9/28. There could have been a few reasons to file it so early but there was no NEED to do so and there didn't appear to be any "news" in it that couldn't have been provided in an 8K.
Meanwhile, while the Company is able to file its 10K two weeks early, it is not able its OTCMarkets profile current and the transfer agent hasn't provided the required update to the share structure...it still shows the data from 6/30. If that condition persists investors won't know how many shares are outstanding until the next 10Q is filed in mid-November.
And we won't know how many shares are being issued right now (during the period 9/11-9/28), which we would have known if the filing had been made on its due date.