Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

You're pretty much right on all points in my opinion. The difference is that you sold when there was still something to sell. At $0.039/share I'd rather let it just go to zero on the off chance Leo manages to sell the company.

I can admit my mistake though. It was one of two things

1. I thought Leo and team were competent enough to advance this pipeline and that they're appraisal of the pipeline was at least somewhat in the realm of reality.

2. I thought Leo and I were on the same team. I realize that I might simply be funding an annuity for Leo's benefit that he bought with his loan back in 2012. Silly me, here I thought I was investing in a legitimate drug company. Wouldn't be a first for me, probably won't be the last.

I'm not sure which it is. If he liquidates the company and distributes the $0.018/share in cash back to shareholders then maybe it's #1. If he bleeds us dry continuing to collect salary with no performance then it's #2.