Innovation Pharmaceuticals Inc (IPIX)

[Rdunn88]

TNX, So Leo screwed his largest lender to take possibly 5 million>
What a nice CEO, burn the shareholders and primary lender...



The Aspire deal was put on hold by IPIX in order to enter into the Dec 9th financing. It's a mystery to me why IPIX needed to do that since the Aspire deal was better for shareholders than the Dec 9th deal. Obviously IPIX needed money fast, but what was going on in early Dec that would have required instant money? Somebody speculated that IPIX needed to prepay for a CRO given their financial condition. But given they didn't get the FDA go-ahead until later in Dec that doesn't make complete sense. Who knows.