ffrol, I don't think a 'reset' is forthcoming. (big if part coming): As I see it the only thing IPIX should or can do is use 2017 purchase agreement with Aspire to fund few more months of operations (if they can) and to try to get the binding OM plus whatever contract done the soonest. Then use guaranteed upfront payment to secure a short term bank loan.
"The pharmaceutical company is now engaged in further due diligence". I think this may refer to two possible items:
a. a closer scrutiny of IPIX patents to see if there are any issues. This is usually less than one month's gig by a patent lawyer/agent with proper medicinal chemistry background, so it should be finished by now.
b. lab-tests to verify some IPIX data.
To Non-Bound Panic-Boys: In pharma business licensing term sheet is almost always non-binding. It is a high level tentative agreement on main items (license scope, payments...) to be included in the final, far more detailed contract. Having it signed usually means that it is the lawyers turn to work out the details.
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