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Posted On: 05/08/2020 3:39:27 PM
Post# of 72440
We should get a 10-Q update soon (next weekish) but it won't tell us much since it ends 3/31.
The previous 10-Q painted a grim picture:
$187,000 cash
$9,112,000 in liabilities
Menon/KARD attempted to call in his debt, IPIX notified him that the company does not intend to pay.
At that point we re-engaged LW for a B-OM deal to get what we could.
I expect the cash picture will look similar in the next 10-Q. Maybe we'll get an update on the Menon/KARD dispute - this was the scariest thing in the last 10-Q...one bad lawsuit judgement could sink us. Fortunately Menon and family have/had a lot of shares and would probably benefit from holding off on any action against the company so that we all can see how COVID plays out. I assume they'd rather have $1/share (they have millions) rather than sue us into bankruptcy for hundreds of thousands (assuming they even have a legitimate claim at all)...unless they think they can get the assets for themselves.
And then came COVID-19...possibly the savior of IPIX. More funded trials of B, hopefully in humans next, could juice the stock price and restore our ability to fund the company in a real way. A lot of the meat of this info occurred after 3/31 though so I think we're still in the dark a bit. If nothing else it should allow us to raise enough money to fend of debt collectors of any kind.
And so we hold our breath for good news...
Go IPIX!
The previous 10-Q painted a grim picture:
$187,000 cash
$9,112,000 in liabilities
Menon/KARD attempted to call in his debt, IPIX notified him that the company does not intend to pay.
At that point we re-engaged LW for a B-OM deal to get what we could.
I expect the cash picture will look similar in the next 10-Q. Maybe we'll get an update on the Menon/KARD dispute - this was the scariest thing in the last 10-Q...one bad lawsuit judgement could sink us. Fortunately Menon and family have/had a lot of shares and would probably benefit from holding off on any action against the company so that we all can see how COVID plays out. I assume they'd rather have $1/share (they have millions) rather than sue us into bankruptcy for hundreds of thousands (assuming they even have a legitimate claim at all)...unless they think they can get the assets for themselves.
And then came COVID-19...possibly the savior of IPIX. More funded trials of B, hopefully in humans next, could juice the stock price and restore our ability to fund the company in a real way. A lot of the meat of this info occurred after 3/31 though so I think we're still in the dark a bit. If nothing else it should allow us to raise enough money to fend of debt collectors of any kind.
And so we hold our breath for good news...
Go IPIX!
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