Innovation Pharmaceuticals Inc (IPIX)

[Truthbythought]

Oh lost soul of little faith. I have been up all night working so our perspectives on life are probably just about equally depressed right now. For the acquisition you have to understand that the Company was in liquidation. It had no Investment Banker shopping around its assets to the market. Add to that the fact that interested purchasers who were limited to begin with (how many biotechs are actually in this space) were distracted with their own acquisitions or sales in some cases. So you have no money to advertise you are on sale and likely the only publicity you get is a small ad in a trade publication specifying the date and time of said auction. If you aren't involved in the bankruptcy from the beginning (like our stalking horse CTIX) you may not have the auction on your radar in time to do enough DD to make an appropriate bid. You don't even have enough time to confirm whether or not you are interested. It is easy for an auction in bankruptcy to fall very much under the radar bc likely the only announcement is in some trade publication. Often there is only 1 entity that ends up bidding for the assets of a failed company. Even for a big company like blockbuster there were only 3 interested bidders.

All of these are very real reasons why CTIX was able to steal. Add to that big pharma not developing any antibiotic pipeline and therefore 0 initial interest in the bankruptcy auction. Do you really expect some small biotech to keep an eye out for an opportunity like this? Of course they missed it. We got lucky our guys were savvy enough to spot this. It's a huge victory. Lucky, lucky lucky is the only way to describe us. Today it is the only positive thing I can think about before I go to sleep.