Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"Could be right unless he forgot to file his form 4's after selling."

It's not likely, but there could be another "unless".
He and his wife hold ~11M Class A shares. 5% of the Class A outstanding at this point is about 18M. Any investor holding >4% or <5% doesn't have a filing obligation so such an investor COULD be holding more than LE.

LE obviously holds some options, a loan and convertible Class B shares that, if converted/exercised, would make him the largest investor for sure if exercised, but.....
He keeps swapping debt due him for options and exercising them for Class B shares. He had 16M of those options left at 6/30 (14M at 9/10) but they expired at 12/29/20 so he won't be doing that anymore (seems that those swaps may have been done in anticipation of the expiration date).

Without those 14M his "holdings" are cut by about 40%. Keep an eye out for movement on this issue in the next 10Q.




"18,000,000 options held by Dr. Krishna Menon were expired in March 2019"