Innovation Pharmaceuticals Inc (IPIX)

[SSDBase]

Questions.

I am primarily a short seller and CTIX is hitting some of my scans. It looks fishy, but I haven't done enough work to have any firm conclusions. So I hope the board can jumpstart my research by addressing some of the red flags I see:

1. How can they actually develop drugs with only $124k of cash (in last 10Q). Most biotechs in early stages have millions to fund their research programs and trials.

2. How can they actually develop these drugs when they spent only $185k of R&D in last reported quarter. Most biotechs spend millions per quarter.

3. Why is there no analyst coverage? They presented at Rodman. They need money. If their drugs have any real potential why are analyst not fighting with each other to put on the strongest "Buy" rating possible?

4. Why have they named their drugs even though they aren't past phase I? Normally companies don't name drugs until Phase III or even FDA approval as such a small percentage progress that far.

5. Why are they putting out interim updates on Phase I studies? Phase I is just safety. Positive Phase I results aren't that big of a deal. It will be good if the drug doesn't kill anyone, but the sample size is far to small to produce any kind of statistically significant results on efficacy. So what is the point of putting out PRs for small steps in a study Phase that isn't even that big a deal when it is done?