Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"While I was no great fan of the Aspire deal, in my opinion this latest financing is predatory."

I agree with ALMOST everything in your last few posts. In fact I've said most of it myself in previous posts.

That said, this deal is no more or less predatory than the MFO deal that was struck in October of 2018. In fact it is structurally identical, including as to preferred share price and stated value, with the basic difference limited to its total dollar value. None of the elements that you find offensive in this deal are new***. See for yourself:
https://www.sec.gov/Archives/edgar/data/1355250/000147793218004763/ipix_ex101.htm
https://www.sec.gov/Archives/edgar/data/1355250/000147793218004763/ipix_8k.htm

You make the point that in this deal, as in the previous preferred share deal, the investors are allowed to sell shares short whereas Aspire was prohibited from doing so. That's true, but it overlooks the fact that Aspire has regularly received commitment shares (6,250,000 in the deal made 5 months ago) that it could sell, resulting in the same benefit that would be gained from a short sale....a hedge against shares put to them. In other words they couldn't/can't sell short but they can sell commitment shares to the same effect.

Your concerns about the Non-Public Information clause are unwarranted. It says that IPIX, beginning at the signing of the deal, can provide MNP information to the Purchasers as long as they acknowledge receipt of the information and agree to keep it confidential. But they can't break the law, which says that the Investors can't TRADE while in possession of the information.
What that means is that, whether the information is great or horrible, the Investors can't buy or sell shares until that information is made public. Under those circumstances it is likely that the Investors would prefer NOT TO HAVE any Non-Public information because it acts to tie their hands.
Read the terms carefully....they even include the obligations that the Investors have regarding mnpi that is provided without their consent.
I don't think you should find this section "troubling" at all. As I understand it it has no meaningful impact that isn't already imposed by law.

***
Acknowledgment Regarding Purchaser’s Trading Activity
Non-Public Information
Underlying Shares
Usury


I should have replied more directly to this post sooner... https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160132377 Sorry.