Innovation Pharmaceuticals Inc (IPIX)

[Orion Nebula]

So from the info in my prior post I now have a better idea of the role of Aspire. They are not a long term hold but have sold off all their shares. Likely they are now using the profit to at least partially fund the second round of $20 million. It is good for us and good for them.

This approach makes sense as they do not have to commit as much money to any particular company, which reduces risk, and they have the ability to roll the funds over to the same company (as in this case) or to a different company that has caught their eye.

The good news is they have sold all shares so the drag on the share price from that is over. Also, it is unlikely Leo will tap into the $20 million right away so they will not be flipping any shares from that for awhile. So as I see it, we are now in a position where normal market forces are at play rather than absorbing the sales from the prior financing arrangement. It will be interesting to see how that plays out in the next few weeks.