Innovation Pharmaceuticals Inc (IPIX)

[Orion Nebula]

Good post 58. Might be that Leo is trying not to use all the Aspire funding as it is dilutive and there will be a need for even more trials in the future. That was my take as I think the burn rate is likely to accelerate. A BOD is a recurring expense, not a one-time expense like a trial. So I was thinking Leo wants to get further down the road with the one-time expenses before he takes on more overhead. I have always admired Leo's ability to keep a tight rein on expenses.

But you are absolutely correct - the maturing of this company requires a BOD that will meet the requirements for up listing and provide reassurance that accounting and conflict of interest issues are being addressed. I think the 10 Q indicates those issues are unlikely to be addressed in the immediate future. Should they be? A different question. Leo seems to be indicating that he wants to use the known resources a different way.

The fly in the ointment for me is that we will never be able to up list as things stand now. I want to see that and maybe it would provide enough momentum to make the financial issues moot. A partnership is likely the quickest way to resolve all of this.