Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"The 8K was Dated you on October 10 and was released to OTC 4 days later."

It's an SEC filing. It gets filed with the SEC (not released to OTC) and it was filed within the 4 day SEC requirement for filing.

"On October 10, 2021, the Compensation Committee and Board of Directors of Innovation Pharmaceuticals Inc. (the “Company”) approved the following matters:"

I guess they work on Sunday in Boca. Or do they just date stuff on Sunday?

From the latest 10K (and probably the last 4 or 5 10Ks):
"The Board has adopted written charters for each of its committees which are available on the Company’s website at http://www.ipharminc.com.";
"The Compensation Committee did not hold any meeting in fiscal 2021. The Compensation Committee consists of Dr. Barry Schechter and Dr. Zorik Spektor, each of whom is “independent” as that term is defined under the Nasdaq Listing Rules."

From the Compensation Committee Charter, linked above:
COMPOSITION
The Committee shall consist of at least three (3) members of the Board.

It's an interesting read if you have the time.


BTW the three Committees and their Charters were created in September and October of 2015 for a single purpose...to secure a Nasdaq listing. If one were to argue that the failure to secure that listing negates any requirement to follow Nasdaq rules (which require, for example, a 3 independent director Audit Committee) they would be correct. But there are no rules and no rhyme or reason that exist to allow for filing a 10K that points the investing public to Company Charters that the Company itself is not conforming to.

The third independent director, Mark R. Tobin resigned on December 31, 2018.