Innovation Pharmaceuticals Inc (IPIX)

[LitesOut]

This is the first time in over 7 years Leo has requested an extension and the first time I can find where he marked that yes, there is indeed a "significant change in results of operations".

The last NT10-Q (NT10-K for annual report) was in 2013. In fact there were two that year, but both filings marked that there would be no significant changes in results of operations from the prior fiscal year. His reason stated in those other two extension requests was also very vague, unlike last week's rather specific explanation.

Period ended June 30, 2013
https://www.sec.gov/Archives/edgar/data/1355250/000135525013000035/form12b25.htm
Explanation:
"The Company was unable to compile the necessary financial information required to prepare a complete filing. Thus, the Company would be unable to file the periodic report in a timely manner without unreasonable effort or expense. The Company expects to file within the extension period."

Period ended March 31, 2013
https://www.sec.gov/Archives/edgar/data/1355250/000135525013000022/exten_10qz.htm
Explanation:
"The Company was unable to compile the necessary financial information required to prepare a complete filing. Thus, the Company would be unable to file the periodic report in a timely manner without unreasonable effort or expense. The Company expects to file within the extension period."

Now remember the NT 10Q Leo just filed last week has the question above marked as "Yes", there will be a "significant change in results of operations".
Period ended December 31, 2020
https://www.sec.gov/Archives/edgar/data/1355250/000147793221000911/ipix_nt10q.htm
Explanation:
"Innovation Pharmaceuticals Inc. (the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q (the “Quarterly Report”) for the period ended December 31, 2020 (the “Reporting Period”) by the February 16, 2021 filing due date applicable to non-accelerated filers due to a delay experienced by the Registrant in preparing disclosure relating to recent developments regarding clinical trials for the Registrant’s lead drug compound, and in particular, developments on or around the filing due date relating to clinical trials in the United States and Russia. The Registrant anticipates that it will file the Quarterly Report no later than the fifth calendar day following the prescribed filing due date."

My point of the above is to show this 10Q extension request is unusual and the explanation seemingly unprecedented under Leo's reign. I expect the "significant change" to be significantly positive.

Love and light!