Replies to post #248107 on Innovation Pharmaceuticals Inc (IPIX)

[scottsmith]

How is the preparation going for your lawsuit against ipix? You were really gung ho on that.

[DaubersUP]

In the K it said we owed approx 4 million to CRO now it says 3 million. So we paid 1 million? Plus we paid 1 million to B manufacturer. That is my guess.

[frrol]

The future CRO contractual obligations are not for the P CRO, they are likely for the K toxicology work and perhaps B-IBD pill. The P work is done and billed, we just have to pay it. Looks like we have about $1MM or so to go according to the B/S.

Since Sep 30 we got the cash from our Pref Share deal with the MFO (early Oct). Given the amount, our opex requirements, and what was said in the PR, those funds do not appear sufficient to pay off the P CRO. So unless/until we get upfront capital from a licensing deal or compel more warrant exercises from the MFO, we will still be waiting for P results.