Innovation Pharmaceuticals Inc (IPIX)

[sunspotter]

“ He should pay the $X amount to settle the judgment to close the matter.”

“$X” is a shade over $1.4 million.

That’s the crux of the matter. IPIX has nowhere near enough cash to pay this sum.

But it did have enough cash to pay its two executives over $1 million between them each year since the lease controversy started.

And they transferred $4 million of shareholders’ money to an offshore private company even while this litigation was ongoing and Leo must have known there was a good chance IPIX would lose.