Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"IPIX has 150 million shares issuable for this financing."

That's a little bit odd. It's presumably based on the reservation opinion in the Securities Purchase Agreement:
"The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of the Conversion Shares at least equal to the Required Minimum on the date hereof."

150M would only be required if the current share price was to drop significantly and they shouldn't need to reserve anything beyond the shares required for the outstanding Preferred.