Replies to post #269077 on Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

"Leo is only obligated to report the amounts after payment."

If the Agreement requires a material payment it needs to be reported when the agreement itself is filed. I've posted it before but here it is again, from Form 8-K:
"4. To the extent a material definitive agreement is filed as an exhibit under this Item 1.01, schedules (or similar attachments) to the exhibits are not required to be filed unless they contain information material to an investment or voting decision and that information is not otherwise disclosed in the exhibit or the disclosure document."
https://www.sec.gov/files/form8-k.pdf


Obviously that goes for ANY material term to a filed agreement.

[scottsmith]

Yes, I can.


"SEC Rule 405 the safe harbor, under the Securities Act of 1933, essentially mirrors the common law definition of materiality. Specifically, Rule 405 provides that "when used to qualify a requirement for the furnishing of information as to any subject," materiality "limits the information required to those matters to which there is a substantial likelihood that a reasonable investor would attach importance in determining whether to purchase the security registered." SEC Rule 12b2 under the Securities Exchange Act of 1934, differs slightly from Rule 405, defining materiality as information "to which there is a substantial likelihood that a reasonable investor would attach importance in determining whether to buy or sell the securities registered."

Clearly, investors need to know the initial payment amount to decide whether to purchase IPIX stock.

https://corporate.findlaw.com/finance/sec-release-on-materiality-in-financial-disclosure.html