Innovation Pharmaceuticals Inc (IPIX)

[sunspotter]

I think Ehrlich has mentally shuttered IPIX, and is waiting expectantly for the inevitable SEC suspension and subsequent delisting.

As IPIX is a limited company he will have no personal liability for the approximately $1.5 million owed to Cummings, and he will use the resulting bankruptcy to explain why shareholders receive nothing once the company is wound up (shareholders are always bottom of the list, behind even the employees whose improvident actions (that's being polite) caused the bankruptcy).

He will hope avidly and probably successfully that no one ever really follows the money, particularly his shark-jumping gift of $4 million to an off-shore private company and the issue of millions of cheap shares to his Aspire and Kips' Bay buddies.

It's penny stock grifting 101, and IPIX isn't Leo's first rodeo.