Innovation Pharmaceuticals Inc (IPIX)

[olden_grumpini]

IPIX filed an 8-K with the SEC:
https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001355250/000147793224000494/ipix_8k.htm

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 31, 2024, Barry Schechter and Zorik Spektor each resigned from the Board of Directors of Innovation Pharmaceuticals Inc. (the “Company”), effective immediately. Their decisions to resign were not the result of any disagreement with the Company on any matter related to the Company’s operations, policies or practices.

Item 8.01 Other Events.
As previously disclosed, on January 22, 2020, the Company filed a complaint against Cummings Properties, LLC (“Cummings”) in the Superior Court of the Commonwealth of Massachusetts (C.A. No. 20-77CV00101), seeking, among other things, declaratory relief that the lease relating to the Company’s prior principal executive offices terminated in September 2018 rather than automatically extending for an additional five years. On August 29, 2023, the trial for this case commenced, and on January 18, 2024, the Court ruled in favor of Cummings, finding that Cummings is entitled to recover liquidated damages in the amount of $810,251.36, minus the Company’s $77,600 security deposit, plus eighteen percent per annum interest owing since January 17, 2020. The Company intends to appeal the decision.

Do they have money to hire a lawyer to appeal?
More importantly, do they have to come up with the judgment amount while under appeal? I think they do.