Innovation Pharmaceuticals Inc (IPIX)

[farrell90]

Thanks for copying and posting the purchase of IPIX preferred stock and warrants by Kips Bay.

As you pointed out it was a good deal for Kips Bay with little incentive to hold them any longer than the restrictions listed in the terms of the sale.

The questions now are when did Kips Bay convert the preferred to commons shares and when did they sell the common shares and warrants.

Unless you know the above you can not know if the increase Kips Bay holding is a purchase or conversion of preferred shares. While I have not been able to determine the time of conversion of the preferred or the sale of the commons shares and warrants Kips Bay reporting does give clues.

Kips bay reported owning 4.97% [21.2 million} IPIX common shares 0n 5/3/21.

https://sec.report/Document/0001213900-21-024168/

On 7/5/2022 Kips Bay reported owning 9.9% [45 million} of IPIX common shares.

https://sec.report/Document/0001213900-22-037187/

Investopedia confirms common and preferred shares are included in ownership calculations.

It appears there is more evidence for a 23 million share stock purchase by Kips Bay rather than a conversion of preferred shares.

Good luck,Farrell