Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

I see the company being sold if it is more profitable for Leo to do so than bleed the company dry with his salary.

If not, then I think Leo drinks our financial blood until we expire.

Finally paying back all of his loan (after years of leaving it on the balance sheet) at a time when we are desperate for money to move forward signals to me that he is not confident that we will get more funding.

Instead of continuing to leave the loan and the balance sheet (committing his money as we have) and reducing his salary (committing his time) he has done neither. He has used the company's limited resources to eliminate all of his own financial risk and continues to draw that cushy salary with no results.

I bought at 0.08 on the day of the COVID results. Now that I have seen the COVID secondary endpoints and the loan repayment I think we are ultimately finished without a surprise partnership. I'm not sure we're undervalued at $0.034 anymore.

As I've said elsewhere, Leo needs to rally by example. If he really believes then he needs to put his money and time where his mouth is. A large cash purchase of shares at the market or a sharp or total reduction of salary until things turn around is required to inspire. He has dined well while the company fell from $0.60 to $0.034 over the past 20 months. It's time for him to tighten his belt as shareholders have.