Replies to post #249535 on Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"The term sheet is dependent on the EoP meeting outcome."
That's a statement of fact.

"Any other view makes no business sense at all for BP."
Whoops! Turns out it was an opinion.

This is the sum total of the Company's disclosure to date:
"The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence."

The statement appears in the Management’s Plan of Operation section of the June 30th 10-K, not in the Subsequent Events section...even though it reported an event that occurred subsequent to the end of the year.
But it wasn't important enough (or perhaps it was no longer operational) when the 10-Q was filed a few weeks ago.

Maybe this "post is complete bullshit:
"the signed term sheet is of course gone"
And maybe "The term sheet is dependent on the EoP meeting outcome."
But not even mentioning it in the 10-Q, a fact, tends to support the former. The latter may be logical but there are no facts to support it.


ps. re: Why would Leo PR a BTD going into or during Thanksgiving week?
Why wouldn't he? Is BP too distracted by musings about turkey and all the fixin's to be able to appreciate the granting of a BTD, even given "the overblown importance of BTD" (as you put it)? The internet doesn't close for the Holiday, does it?