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Innovation Pharmaceuticals IPIX
(Total Views: 297)
Posted On: 03/23/2018 4:21:25 PM
Post# of 72445
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Posted By: sox0407
Re: AlanC #43543
Alan, I do have some basis for my statement. I've been using TDA for years. Before the most recent 10-Q came out, they showed 145.7M OS which turned out to be correct. Now they are showing 147.2M OS. They must get the number from somewhere. My guess is from the DTC.

http://www.dtcc.com/settlement-and-asset-serv...k-with-dtc

Leo's MO is to dilute as needed, so it's logical that the OS increased by 1.5M shares six weeks after the 10-Q. Whether those shares were sold to Aspire or issued to others, we'll find out in the next 10-Q.

I can show you Aspire sold ~65K shares daily from 7/1/2017 to 2/1/2018. I sure hope the selling reduces dramatically after that.

Quote:
"During the period from July 1, 2017 to September 5, 2017, the Company generated proceeds of approximately $2.1 million under the 2015 Agreement from the sale of approximately 2.6 million shares of its common stock. During the period from September 6, 2017 to December 31, 2017, the Company generated proceeds of approximately $4.4 million under the 2017 Agreement from the sale of approximately 6.6 million shares of its common stock."

"From January 1, 2018 to February 7, 2018, the Company has generated additional proceeds of approximately $0.6 million under the Common Stock Purchase Agreement with Aspire Capital from the sale of approximately 0.9 million shares of its common stock."

https://www.sec.gov/Archives/edgar/data/13552...ix_10q.htm

So that's a total of ~10.1 million shares from July 1, 2017 to February 7, 2018. Since Aspire's MO isn't to hold long-term (no Schedule 13G filed), the average daily shares sold during that period were:

10,100,000 shares / 31 weeks / (5 days / week) = 65,161 shares / day














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