Innovation Pharmaceuticals Inc (IPIX)

[CallMeCrazy]

We don't know what we don't know

Who said he was "forced." Who said the shares wasn't paid for? Even if they were not, How much money did Leo need to pay versus surrendering them?

There are many ways one could interpret this information, but I am content to take Leo at his word that this is a personal tax situation. Apparently, Leo found the option to surrender these shares to be superior to whatever other options he had.

And for those who do not take Leo's word...let the wild speculation begin.

Message in reply to:
I saw that, but why would he be forced to involuntarily forfeit his shares?

My edit may have occurred after you composed your post. Here it is again:
The shares were fully paid for, right?
Per your link: "Forfeiture of shares refers to the situation where the allotment of shares is cancelled for the shareholders due to non-payment of any installments."