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Replies to post #103336 on Innovation Pharmaceuticals Inc (IPIX)

Replies to #103336 on Innovation Pharmaceuticals Inc (IPIX)
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Rdunn88

05/21/15 12:05 AM

#103337 RE: TheHound #103336

Thehound, Where were you? Settlement took place last August. 16 months of shares until this January 2016...

http://www.sec.gov/Archives/edgar/data/1355250/000147793214004859/ctix_8k.htm
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Rdunn88

05/21/15 12:13 AM

#103342 RE: TheHound #103336

I'm assuming the strategy behind the shares spread out over 16 months was to prevent a complete dump of shares. However, since CTIX does not trade much volume, a few hundred K here and there surely can move the stock. Especially if it's market orders. I'm not saying Aruda is totally responsible for the 50 percent decline, but probably a good part-of-it.

Menon acquired all of the rights Aruda claimed in the Kevetrin patents in return for (i) the transfer to Aruda and designees an aggregate of 16,000,000 shares of stock in Cellceutix over a period of 16 months, currently owned by the Menon Trust