SS...I disagree....This is nonsense. Agenda based to try to fool the inexperienced investors.
A better statement would be why was Milestone #3 included as a precondition of getting another $2 million from Aspire? When the terms, if met would insure IPIX of having enough funds from the partner to not even need this option!
Here is my reasoning about milestone #3, if IPIX announces a double digit upfront payment [imo $30 million range] plus the partner agrees to fund and run any further clinical trials to carry B all the way to FDA approval for OM, IPIX can do a broker sponsored secondary to raise ALL THE MONEY they need at prices much higher [$5/share or higher]. So if #3 is achieved they do not need a mere $2 million more from Aspire. And what if the partnership for B includes more than OM? #3 looks like a favor to Aspire to me!!
Furthermore i think if option #1 is achieved, then option #3 is a given and helps determines the amount of the upfront payment and probably the ongoing royalty payment on sales after approval. In other words, both would be larger amounts if #1 is achieved.