Investors, new and old, should know where the selling pressure is coming from.
Aspire
From the financial reports,
"During the period from October 25, 2013 to March 5, 2015, the Company had completed sales to Aspire Capital totaling 8,890,379 shares of common stock generating gross proceeds of approximately $20 million."
"During the period from March 30, 2015 to June 30, 2017, the Company had completed sales to Aspire Capital totaling 14.7 million shares of common stock generating gross proceeds of approximately $16 million."
"From July 1, 2017 to September 1, 2017, the Company generated additional proceeds of approximately $2.1 million under the March 2015 common stock purchase agreement with Aspire Capital from the sale of approximately 2.6 million shares of its common stock."
8,890,379 + 14,700,000 + 2,600,000 = 26,190,379 shares
5% of the current OS is ~7 million shares. We know Aspire has to file a Schedule 13G if they own 5% or more. The fact that Aspire hasn't filed it means they've sold at least 19.2 million shares, or ~73% of shares sold to them by IPIX. I expect the selling to continue.
Aruda
12/31/2017 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,316,824 shares of Common Stock Class A.”
4/28/2017 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,501,224 shares of Common Stock Class A.”
12/31/2016 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,622,829 shares of Common Stock Class A.”
12/31/2015 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 9,869,096 shares of Common Stock Class A as of December 31, 2015.”
8/28/2014 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 8,000,000 shares of Common Stock Class A.“
In 2014 Dr. Menon agreed to transfer 16 million shares to Aruda within 16 months.
16,000,000 - 7,316,824 = 8,683,176 shares
The most recent filing tells us that Aruda has sold at least 8.68 million shares given to him.
19,200,000 + 8,683,176 = 27,883,176 shares
Since 2014, Aspire and Aruda combined for at least 27.9 million shares of selling pressure.
Aspire
From the financial reports,
"During the period from October 25, 2013 to March 5, 2015, the Company had completed sales to Aspire Capital totaling 8,890,379 shares of common stock generating gross proceeds of approximately $20 million."
"During the period from March 30, 2015 to June 30, 2017, the Company had completed sales to Aspire Capital totaling 14.7 million shares of common stock generating gross proceeds of approximately $16 million."
"From July 1, 2017 to September 1, 2017, the Company generated additional proceeds of approximately $2.1 million under the March 2015 common stock purchase agreement with Aspire Capital from the sale of approximately 2.6 million shares of its common stock."
8,890,379 + 14,700,000 + 2,600,000 = 26,190,379 shares
5% of the current OS is ~7 million shares. We know Aspire has to file a Schedule 13G if they own 5% or more. The fact that Aspire hasn't filed it means they've sold at least 19.2 million shares, or ~73% of shares sold to them by IPIX. I expect the selling to continue.
Aruda
12/31/2017 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,316,824 shares of Common Stock Class A.”
4/28/2017 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,501,224 shares of Common Stock Class A.”
12/31/2016 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 7,622,829 shares of Common Stock Class A.”
12/31/2015 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 9,869,096 shares of Common Stock Class A as of December 31, 2015.”
8/28/2014 - “Amount beneficially owned: Wayne O. Aruda and Mary M. Aruda jointly hold 8,000,000 shares of Common Stock Class A.“
In 2014 Dr. Menon agreed to transfer 16 million shares to Aruda within 16 months.
16,000,000 - 7,316,824 = 8,683,176 shares
The most recent filing tells us that Aruda has sold at least 8.68 million shares given to him.
19,200,000 + 8,683,176 = 27,883,176 shares
Since 2014, Aspire and Aruda combined for at least 27.9 million shares of selling pressure.
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Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
