Replies to post #112780 on Innovation Pharmaceuticals Inc (IPIX)

[Amatuer17]

Agree with your statements specially "
"I highly doubt the CEO being advised by expensive up-listing attorneys simply didn't know of an obvious requirement based upon the simplified "Initial Listing Guide" and was blindly wondering what the delay was while being below obvious requirements"

However here is my guess / speculation - the CEO knew the requirements and he applied in a hurry based on pressure and looking at market reaction (we have his response to Karin and then change of direction)

In my opinion - His decision to allow CTIX to go to PINK and stay there and bad handling of uplisting process (applying even when one key requirement of BOD was not met) has caused the disappointing and skeptical response by market to SP despite getting some of the best news a early stage biotech can get.

Hoping that he does not carry such blunders and the product related good news will pull us out of slump in coming weeks.

GLTA

[CallMeCrazy]

What you call a "selective reading of the guide" I call an examination of Nasdaq Listing Requirements and standards for Capital Markets and making a determination as to whether or not CTIX meets those standards.

O.K. So the process is complicated and "includes discretion and discussions." Even the guide warns:

"It is important to note that even though a company’s securities meet all enumerated criteria for initial inclusion, Nasdaq may deny initial listing, or apply additional conditions, if necessary to protect investors and the public interest."

But the evidence suggest that things aren't as complicated as you purport. Consider Leo's June 8th PR in which he stated:

Cellceutix last week learned that the application remains pending due to the price of CTIX stock currently below the minimum requirement. Cellceutix wishes to reiterate its stance that it will not perform a reverse split to meet the higher share price requirement.

Leo's own words, "pending due to price" and "will not perform a reverse split," suggest share price is the reason for the delay in up-listing (Or maybe this is just my "selective reading"). He didn't mention any other problems in regard to up-listing.

"Anticipation is making me wait," but tell me again why I shouldn't speculate about CTIX's up-listing? Clinical trials are also complicated so I suppose I shouldn't speculate about them either. I'm being sarcastic, of course, but this board would be out of business with out speculation.

[loanranger]

"I think the bottom line is we just don't know. And that "we" included the CEO being advised by very competent attorneys specializing in up-listing. "

To suggest that the CEO "just don't know" exactly what the uplisting requirements are at this point, or AT ANY POINT, is patently absurd.