Here's where the constant selling pressure came fr
Post# of 72440
(Total Views: 399)
Posted On: 02/10/2018 12:49:50 PM
Here's where the constant selling pressure came from.
"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."
https://www.sec.gov/Archives/edgar/data/13552...ix_10q.htm
So that's a total of ~9.2 million shares from July 1 to December 31. Since Aspire's MO isn't to hold long-term (no Schedule 13G filed), the average daily shares sold during H2 2017 were:
9,200,000 shares / 26 weeks / (5 days / week) = 70,769 shares / day
As you can see, ~70K shares per day created a tremendous selling pressure. Market manipulation or naked shorting wasn't the main reason for the current SP IMO. When Leo doesn't need Aspire after a partnership, IPIX will really take off.
"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."
https://www.sec.gov/Archives/edgar/data/13552...ix_10q.htm
So that's a total of ~9.2 million shares from July 1 to December 31. Since Aspire's MO isn't to hold long-term (no Schedule 13G filed), the average daily shares sold during H2 2017 were:
9,200,000 shares / 26 weeks / (5 days / week) = 70,769 shares / day
As you can see, ~70K shares per day created a tremendous selling pressure. Market manipulation or naked shorting wasn't the main reason for the current SP IMO. When Leo doesn't need Aspire after a partnership, IPIX will really take off.
(4)
(0)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
Scroll down for more posts ▼