Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"I'm sure they are gobbling shares of IPIX......."
I don't know where you got that idea (I could guess) but it's crazy. Consider this:
The IPIX equity investment in BM needs to be accounted for in the IPIX SEC filings in some detail, at least annually (see p.F-13 in the 10K). That investment is now and in the future will be valued based on the BM balance sheet. Make sense?
Now you're suggesting that IPIX's carrying value of BM on its own balance sheet would reflect the value of the IPIX stock that BM is buying and that appears as an asset on the BM balance sheet.
If you followed that you would know how nuts it is.