Replies to post #233632 on Innovation Pharmaceuticals Inc (IPIX)

[Echo20]

Any big PHARMAS lurking in?
Stock could be easier to pay with.

Echo20

[CallMeCrazy]

I think some are underestimating Leo's control over the timing and sequence of these milestone events which, I would say, are material.

Because an event is material, per se, doesn't create a duty to disclose.

SECURITIES PURCHASE AGREEMENT (this “Agreement”), dated as of June 28, 2018 by and between INNOVATION PHARMACEUTICALS INC., a Nevada corporation (the “Company”), and ASPIRE CAPITAL FUND, LLC

https://www.bamsec.com/filing/147793218003269/4?cik=1355250

I suspect this was a done deal long before the 28th of June. I further suspect that this date was probably meaningless to Aspire, but significant to Leo because of the end-of-qtr expectations created.

BEVERLY, Mass., June 29, 2018 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals (IPIX) (“the Company”), a clinical stage biopharmaceutical company, today announces database lock for its Phase 2b clinical trial of oral Prurisol...

https://mailchi.mp/ipharminc/innovation-pharmaceuticals-announces-database-lock-for-phase-2b-trial-of-oral-prurisol-for-psoriasis?e=d6a81bdb11

Likewise, the Prurisol database lock was probably in place long before June 29th. The PR doesn't say the database lock occurred today, it says "today announces".

The Securities Purchase Agreement and the Database Lock announcements, I believe, were released on the last 2 trading days of the quarter, respectively, by design and for effect.

My singular point here is that Leo controls the timing of announcements of material (milestone) events and, thus, can control their sequence, choosing the order most beneficial for IPIX.