"That MFO share sale only does us good if we get some good news soon and the share price stays up. The price isn't cooperating. It's a market and most out there think we're failing to deliver. Can you see why they might?"
The best scenario would be if a partnership is announced before 11/5/2018.IPIX could use a part of the partnership funds to redeem the preferred stock for a 20% premium plus accrued dividends and liquidated damages [which do not seem to be defined in the 10K]. If the redemption occurs it will minimize the share dilution.
IPIX can call for the exercise of $250,000 of warrants within 30 days of the execution. Within 90 days it can call the warrants for payment and a penalty.
Hopefully Leo has a deal to roll out soon. After the Aspire debacle, IPIX will be penalized again if it misses another financing deadline.
Obviously IPIX management is under severe pressure to consummate a deal; that fact, is why I believe we will have news soon. My bet is the "bridge loan" explanation of the MFO financing will prove true and a partnership deal will lift the share price sharply higher. Of course I may be completely wrong and the sp could go sharply lower.
"Following 30 days after the initial closing, the Company may elect to redeem the preferred stock for 120% of the aggregate stated value then outstanding, plus all accrued but unpaid dividends and all liquidated damages and other amounts due in respect of the preferred stock. The Company’s right to redeem the preferred stock is contingent upon it having complied with a number of conditions, including compliance with its obligations under the Certificate of Designation. Shares of preferred stock will generally have no voting rights, except as required by law and except that the Company shall not take certain actions without the consent of the holders of the preferred stock."
"Subject to the satisfaction of certain circumstances, the Company may compel the holders to exercise up to $250,000 of the warrants 30 days after the initial closing of the sale of the preferred stock. In addition, subject to the satisfaction of certain circumstances, the Company may call for cancellation any or all of the warrants following 90 days after their issuance, for a payment in cash equal to 8% of the aggregate exercise price of the warrants being called. The warrants subject to any such call notice will be cancelled 30 days following the Company’s payment of the call fee, provided that the warrant holders have not exercised the warrants prior to cancellation"
"And don't listen to anyone pumping about.....drugs worth billions."
What's your estimate then on the value of IPIX's drug candidates? If separately or collectively Kevetrin, Prurisol and Brilacidin are worth less in IPIX's wallet on a good day than about a $5.00 share price, what's the pragmatic target number between twelve cents and a fiver?
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