Replies to post #241829 on Innovation Pharmaceuticals Inc (IPIX)

[Justfactsmam]

...those expenses I noted...and yes...he lent the company millions before... finding funds to keep the door open with positive outcome likely on the way is what start-up founders do.

An associate of mine in Albany, NY invested in a small biotech in the very early '90's. The founders called him at least twice a month to fund payroll. He believed in the company and did so for two years...he periodically received stock for the debt/loans (converted at around .26) He held onto the company's stock...patiently waiting...and reaped $80MM Profit when it broke out...the company was Celgene.

[Echo20]

Rdone88

Are you an investor in IPIX?

A lot negative


Echo20

[MrW]

“is own airfare to and from Florida?”

Hell no.

[Snowy_Owl]

Unless IPIX has the rare policy requiring employees to relinquish accumulated business travel air miles back to the company I imagine Leo is paying his own way back and forth to Florida via air miles. One doesn't have to be a CPA to know that Auditors are on the constant look out for business expenses that should have been categorized as personal expense.

Does anyone believe Leo is paying his own airfare to and from Florida?