Replies to post #227834 on Innovation Pharmaceuticals Inc (IPIX)

[PlentyParanoid]

Noretreat, the share price is defined in the new current agreement as follows:

The purchase price per Purchase Share pursuant to such Purchase Notice (the “Purchase Price”) is the lower of:

(i) the lowest sale price for our common stock on the date of sale; or
(ii) the average of the three lowest closing sale prices for our common stock during the 12 consecutive business days ending on the business day immediately preceding the purchase date.

The applicable Purchase Price will be determined prior to delivery of any Purchase Notice.

[DLucky6636]

The only logical explanation I can come up with is that Aspire lost money and threatened to sell its inventory to bring the price down to 25 cents and terminate the agreement if Leo went with the agreed price. Leo relented and sold at 25 cents.

[TheBunny]

Leo does his usual thing - burns the shareholders. Doesn't do the sales when the SP of $3.00 but sells to Aspire at .25 cents ! Shares that Aspire will sell into.

You don't make that type of rotten deal if your in the process of inking The Partnership. You make it because you know if you don't The Jig is Up. Not wanting to tell everyone that your actually in Dire Straights.

If the note in the 10Q is correct, there was some sort of adjustment to the agreement and/or the agreement was violated, and/or this was somehow accomplished OUTSIDE of the existing agreement.

Leo can't sell to Aspire at that much of a discount.