Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

I had to take two first glances.
You're right about 4(b) BUT there's this....
"The data in this chart is as of: 6/30/21"
....and given that, 4(b) is correct.

But it raises the question "Why in Sam Hill is he filing a disclosure based on 6/30/21 data on 9/12/22?".

Re your convertible debt comment, this is from the last 10-K:
"In addition, as of June 30, 2021, there were outstanding stock options and a convertible note representing the potential issuance of approximately an additional 8.7 million shares of our common stock."
"As of June 30, 2021 and 2020, the principal balance of this convertible note payable to Mr. Ehrlich, the Company’s Chairman and CEO was approximately $1,283,000 and $1,822,000, respectively."
It ain't "none".

And the good standing statement is plainly false on the date signed.

But that's the real quandary. Without regard to its numerous flaws, why he is filing a 6/30/21 disclosure statement today?

It's extra goofy because he filed a disclosure statement with September 2021 data in it in December 2021.
https://www.otcmarkets.com/otcapi/company/financial-report/316295/content