Innovation Pharmaceuticals Inc (IPIX)

[TheHound]

Connect the dots

Words from the CEO….

We currently have an approximate $1.0 million cash balance as of the date of this filing, but that is insufficient to complete the development and commercialization of any of our proposed products. We expect to incur costs of approximately $1.8 million in the upcoming fiscal year ending June 30, 2024 to operate our business in accordance with our business plans and budgets…..

The Company historically devoted most of its efforts and resources on business development, regulatory matters, and clinical trials. Presently, the Company does not have sufficient financial resources to advance our drug candidates meaningfully…..

Due to the relatively high cost of being a public company in the United States and our limited resources, our Board of Directors may elect to voluntarily deregister our Class A common stock under the Exchange Act and suspend our reporting obligations with the SEC, possibly in combination with beginning to satisfy the alternative reporting standard of the OTC Markets to continue the quotation of our Class A common stock on the OTC Pink…..

Shareholders are fucked.