Replies to post #385845 on Innovation Pharmaceuticals Inc (IPIX)

[Empiricst1]

I don't think Leo would ever step down, away from his (and his associates' salaries and control over hundreds of millions of shares). And there are not enough shares held by the longs, acting in concert, and how hard would this be to attain, to unseat him. We are, as they say, stuck with him. (Admittedly, last time I computed this for myself, and made my own estimates based on little else but guesses, was way over a year ago).

[Lemoncat]

We had to go after COVID to raise cash if nothing else.

Recall prior to COVID we had $600K cash with $7M in liabilities. We had no way forward at that point for the other indications. We were heading to the auction block and it wasn't going to be pretty.

I had hoped our market cap would have ballooned to $1B+ like some of the other trash COVID stocks (HGEN, CYDY, RLT, etc.). That would have made raising quite a bit more money very easy but we didn't get lucky on that front.

Still, we're much better off with several million to work with than $600K.

Go IPIX!

[zandant]

If Ehrlich was gone it would be a welcome miracle. Unfortunately, the Clown Prince of CEOS is going nowhere.

[wsbc]

but at this point we need Leo to step down

Leo is drunk on power, corruption and greed. He's likely going nowhere, now that he realizes the majority of shareholders are morons and aren't coming after him and he can get away with stockpiling cash at their expense.

There are no checks and balances here, and this is a PO box operated by a single guy with zero oversight, that's publically traded and funded by dilution. It's over.

[Lemoncat]

It was a fools errand to go after Covid, when antibacterial efficacy and anti-inflammatory therapy had already both been proven (albeit minimally in terms of numbers).

You still have those but now you have a few million dollars to work with.

He’s clearly not capable of bringing us to the next level.

I generally agree with this sentiment at this point. There is still a chance for a deal or another hype cycle though.

but at this point we need Leo to step down.

Careful what you wish for. That would be the end of our investment. IPIX would head straight to $0.01 on that news. Even if you got some new CEO, the first thing they will do is wipe out existing shareholders either with BK or a reverse split and secondary. Leo is sadly still our best hope.

Go IPIX!