Replies to post #390959 on Innovation Pharmaceuticals Inc (IPIX)

[thekidzcollegephund]

Also from the the 10-Q

On December 4, 2020, the Company entered into a securities purchase agreement (the “Series B-2 Securities Purchase Agreement”) with KIPS Bay Select LP for the sale of an aggregate of 5,089 shares of the Company’s Series B-2 5% convertible preferred stock (the “Series B-2 preferred stock”), for aggregate gross proceeds of approximately $5.0 million. An initial closing for the sale of 3,053 shares of the Series B-2 preferred stock closed on December 9, 2020 for aggregate gross proceeds of approximately $3.0 million, and a second closing for the sale of 2,036 shares of the Series B-2 preferred stock closed on February 8, 2021 for aggregate gross proceeds of approximately $2.0 million.[/quote

From what I find Kips Bay only had 5089 preferred shares that could be converted....At $1080 share (your number) that is roughly $5.5 mil of common stock. I can't get to 130M shares....Unless they all converted at $.042/share. Pretty sure that didn't happen.

Help me find where Kips Bay had more than the 5089 preferred shares....TIA


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