Innovation Pharmaceuticals Inc (IPIX)

[sunspotter]

"Cummings is entitled to recover liquidated damages in the amount of $810,251.36, minus IPI's $77,600 security deposit, plus eighteen percent per annum interest owing since the date of default, January 17, 2020."

If my arithmetic is correct (perhaps any CPA reading this can confirm or correct my workings) then IPIX owes Cummings $1,420,448 as of Wednesday.

I suspect that means The Hound is correct: if the ruling holds, IPIX is technically bankrupt, given that cash on hand was reported as $864,000 as of September 2023.