Replies to post #96382 on Innovation Pharmaceuticals Inc (IPIX)

[DaubersUP]

Exact quote:

the Company will control the timing and amount of sales of the Company’s common stock to Aspire Capital. Aspire Capital has no right to require any sales by the Company, but is obligated to make purchases from the Company as directed by the Company in accordance with the Purchase Agreement. There are no limitations on use of proceeds, financial or business covenants, restrictions on future financings, rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement. The Purchase Agreement may be terminated by the Company at any time, at its discretion, without any penalty or cost to the Company. Aspire Capital has agreed that neither it nor any of its agents, representatives and affiliates shall engage in any direct or indirect short-selling or hedging of the Company’s common stock during any time prior to the termination of the Purchase Agreement

This is great news shareholders. This is a big burden off our shoulders imo. This gives us leverage! This gives us approvals by FDA to start more trials! This gives us the burn to keep chugging at a rapid pace.

However, I do beleive we have enough cash on hand for some time...but I think with the NASDAQ uplisting and the future trials and IND's we needed this to pass the approval process. 36 Months worth of CASH!!!!!

CHEERS!!!!

[frrol]

Yes.