Replies to post #78083 on Innovation Pharmaceuticals Inc (IPIX)

[rule_rationale]

Yep - NASDAQ.
- First board member addition has experience with infectious diseases.
- PR info that explains the anticipation of excellent results out of the Brilacidin trial.
- The laps in fees to maintain OTC.QB inclusion followed by a PR that states final Brilacidin data is imminent.
- Correspondence with noretreat from Leo stating that final Brilacidin data will be revealed way before the January conference session.

They (Leo and Company) are not worried about a thing - this Brilacidin data reveal is going to catapult us deep into NASDAQ territory. And soon :-)

[Big4man]

Uploading to the NAS costs a lot of money and work regarding audits and compliance. I'm not sure if CTIX is ready to incur those costs and the level of effort needed to upmost right now. They seem to be more focused on the trials and tests which is rightly so IMO.

[cabel]

Ovi,

I've e-mailed him a couple of times about it,... nothing back.

For us Canadians Uplisting is very important as we cannot put OTC stocks into out tax savings retirement accounts,... when we uplits it will save us big $$$

I commented to Leo that although there are many things in the company's progress that he has very little power over (timing wise),... trials must complete,... FDA must get back to him,...etc...

But now that we are comfortable above $2.00, uplisting is TOTALLY in his hands,.. about when it happens, etc...

Go CTIX,.. Go Leo,... Go Uplisting!!

[John B]

Thanks for bringing up the $2 share price for the Nasdaq, it forced me to look at the Nasdaq requirements closer. The Nasdaq Global (standard 3) has a $4 bid price requirement for 90 consecutive trading days before applying, but
Nasdaq Capital (standard 2) has the following requirements:
A) $4 bid price requirement for 90 consecutive trading days
OR
B) Closing Price of $2

To qualify under the closing price alternative, a company must have: (i) average annual revenues of $6 million for three years, or (ii) net tangible assets of $5 million, or (iii) net tangible assets of $2 million and a 3 year operating history.

So CTIX would need net tangible assets of $2 million, since they have a 3 year operating history.
My understanding of the definition of net tangible assets is: Tangible assets minus Liabilities.
As of 9/30/14 from the last 10Q, CTIX had about 7.2 million in tangible assets (excludes Patents), and about 8 million in Liabilities. This would make the Net tangible assets a negative 800 thousand. But according to the 10Q, CTIX raised another 1.9 million via Aspire from October 1, 2014 to October 27, 2014.
This would make net tangible assets 1.1 million.
So for CTIX to make this requirement they would just need to raise an additional 1 million via Aspire after Oct 27.
I don't see anywhere where is states that we have to trade at $2 for X number of days. If someone sees where this is stated somewhere please point me to that info.
Maybe LR can confirm whether I got all this correct.

In conclusion: It looks like we could uplist shortly to NYSE-mkt or Nasdaq via Nasdaq Capital. They still need to get BOD/audit committee done.

The Nasdaq Capital Market requirements are on Page 9 here:
https://listingcenter.nasdaqomx.com/assets/initialguide.pdf