Replies to post #336352 on Innovation Pharmaceuticals Inc (IPIX)

[wsbc]

I wonder if it could have anything with Leo's trend towards not paying for services/contracts-rendered?

*Prurisol CRO- not paid in full

*Office lease- disputed and sent to legal. (despite contract)

*Menon- disputed payment and legal-relief sought.

"Interesting why Aspire couldn't provide 3 million unless there was a reason behind it?"

Aspire could....it would just take a while. I get the impression that the need was very pressing and they got the $3M in the preferred deal the day they signed the deal. With Aspire that could take weeks.
They set a record putting the paperwork together.


Sorry....I meant to link the agreement.
https://www.sec.gov/Archives/edgar/data/1355250/000147793220004521/ipix_8k.htm
https://www.sec.gov/Archives/edgar/data/1355250/000147793220004521/ipix_ex101.htm

[Brinjal]

IPIX had 5M+ in the bank. They could have tapped that for their immediate need, and then gone with Aspire to shore up their finances.

Nothing about this transaction makes any sense, at least not at the moment anyway.