Steel Penny....I remember the steel pennies issued by the Government during WW2, So i am also old. MFO stands for Multi-Family Office. Now that tells us nothing. It is basically an organization created by a group of individuals for the purpose of making investments in other ventures. IPIX has an agreement with a MFO to sell the MFO a convertible that IPIX can from time to time ask the MFO to convert to common shares. The price of the shares are at a discount to the current market price when the conversion takes place. If i recall correctly IPIX's MFO gets to buy shares at a 20% discount.
For the last several months IPIX has been raising about $400,000 a month, and many of those shares have been sold by the MFO at a profit. When the MFO sells they do that by ordering a Market Maker to sell X number of shares at y price or more. So the market maker enter orders to sell on the offer side of the market and sometimes at the bid side of the market if there is a sizable bid. These sales are many times marked as day trade short sales by the MM. And then the MM buys shares from their customer equal to the number they have sold that day.
So the % of total volume reported daily are day trade shorts covered before the day is over but they are never reported as covered.
Hope this helps. Needless to say raising $400,000 a month for the last several months is the biggest factor in driving the share price down over this time frame. Truthfully it is also the reason for so many PRs to try to help keep the share price up.
SO how do we [IPIX] get out of this mess? A very successful phase 1 with the time released pill hitting the Exact spot in the colon plus the other small phase 1 and phase 2 trial results may be enough to get a partner so the company can in the future Raise capital only when there is Good News. If BP really believes B is anti-inflammatory and an antibiotic, a deal should happen because of the huge potential sales of a successful pill for UC and Crohns.
News 
Market Data 
Discover 
