Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

From the 10-K released in September 2018

https://www.sec.gov/Archives/edgar/data/0001355250/000147793218004457/ipix_10k.htm

See page 9 regarding the status of Prurisol:

"We are awaiting statistical analysis of results pending payment by the Company of amounts due to the research organization resulting in part from cost overruns."

So if you're accusing Leo of lying in a 10-K filing you're free to do so but that doesn't make it true. Sounds pretty simple to me, they had to scrape together the cash to pay the research organization in order to get the stats results.

They were definitely not in better shape than now...

From page 55 of that 10K the company had $2.4M cash. Now we have somewhere around $11M per the latest filing.

Go IPIX!