"Leo Ehrlich's son,Barrett Ehrlich and his company LLEX, may have assisted one of its clients to provide IPIX with its recent financing."
Wow!!!
So old Leo keeps it in the family and allows the Preferred share death spiral (15% discount from 5 day VWAP ensures a stock price death spiral) financing.
And no disclosure, no transparency.
If I were long IPIX I would be absolutely fuming on this deal which, according to the by laws, is not allowed to occur with family members unless approved by the IPIX Audit Finance committee.
Basically, Leo's son, if that is true, or whomever has the death spiral Preferred, has no risk whatsoever as they short the bids of naive yet loyal IPIX shareholders to finance the deal at lower prices.
Something right out of the Borgia's family playbook.
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