Replies to post #256693 on Innovation Pharmaceuticals Inc (IPIX)

[To infinity and beyond!]

let's see: why so much company chatter about looking for a deal if one was already almost locked up? The signed term sheet is of course dead. One could pretend it is still in negotiations and they want a better price- but that would be embarrassing logic.

Death of a term sheet, signed, not delivered

[loanranger]

That's absurd. The term sheet wasn't "reported" in the 10-K, it was simply mentioned. There was no obligation to do either. The fact that a 10-K is audited and a 10-Q isn't has nothing to do with this.

The fact that the term sheet wasn't mentioned in the 10-Q doesn't indicate that it's dead but it suggests it. It would have had the same promotional and informational value in the 10-Q that it had in the 10-K. Either it was dead or the Company chose not to mention it.
According to the 10-K "The Company signed a non-binding term sheet in August 2018".
Has it been mentioned in any of the 18 press releases issued since that date? Or in any of the 9 issued since the 10-K was filed?


"The term sheet is still active until it’s reported as inactive in the annual report."

The Company has even less of an obligation to report the death of that term sheet than it did to report the rejection of the Breakthrough Therapy Designation or the "more details regarding planned Phase 3 trials of Brilacidin".
No one can stop you from thinking that it's still active but your argument in support of the likelihood of it has no basis in the 10Q and 10K requirements that you use for support. Waiting to see if it is mentioned in the 10-K may be a good way to kill a couple of months but whether it's in there or not won't be a function of any regulation that is applicable to Form 10-K and is not applicable to Form 10-Q.

[frrol]

"From time to time, the Company may be party to various indications of interest and term sheets". It happens. It may have happened here. It's a part of biotech. Non-binding term sheets are non-binding for a reason. The lack of recent mention has nothing to do with 10Qs not being audited. The first reporting of us being in negotiations was in a 10Q.

The term sheet could still be in place; it appears that it isn't but that we have other prospects (multi) the company is working on. Let's hope one pans out, very important.