The CEO has a fiduciary duty to report material news. And the amount of remaining convertible noteholders(approx. $3M worth which includes 2 X $1.2M noteholders each) are easily available by quickly perusing INND's fins.
The truth is the market organically reacted to the excellent INND news, until the noteholders all agreed to start dumping this stock down back into the trips again.
The only way this CEO gets out of the jam he's in, is finding much friendlier financiers who will take out his toxic noteholders for good glty