This statement is pure speculation on your part: "
Post# of 72440
(Total Views: 156)
Posted On: 03/23/2018 10:01:21 AM
This statement is pure speculation on your part: "dilutions since 10-Q were 1.5M shares, not 900K. This means the selling pressure by Aspire was a lot more than 33K per day."
I posted the latest information we have from the company filing:
Note 12. Subsequent Events
Equity Transactions
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.
On February 1, 2018, 3,333 shares of the Company’s restricted stock vested to Ms. Anne Ponugoti according to Ms. Ponugoti’s employment agreement. The total taxable compensation to Ms. Ponugoti for the 3,333 vested shares was $2,433, which is priced at the closing stock price on January 31, 2018 at $0.73 a share. The Company issued 2,645 common shares (net share issuance amount), which is approximately 79% of the total vested common share amount of 3,333 common shares due to be issued to Ms. Ponugoti. The remaining 688 shares of common stock were withheld from Ms. Ponugoti for the payment of payroll taxes to the Federal and State taxing authorities.
On February 5, 2018, the Board of Directors approved the retirement of 567,872 shares of its common stock in treasury, which shares are issued but are not outstanding. These shares included the 688 shares withheld from Ms. Ponugoti, as a result, all treasury shares of the Company were retired.
We don't know who the shares were issued to or what for. Could have been to consultants, a private placement, stock based compensation to employees or it could have been to Aspire. Beyond that if they did go to Aspire we don't know that Aspire sold them. What we do know for a fact based on what the company stated in the most recent filing that the worst case through 2/7/18 would have Aspire selling at an average of 33,333.
shares per day. Go IPIX!!!
I posted the latest information we have from the company filing:
Note 12. Subsequent Events
Equity Transactions
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.
On February 1, 2018, 3,333 shares of the Company’s restricted stock vested to Ms. Anne Ponugoti according to Ms. Ponugoti’s employment agreement. The total taxable compensation to Ms. Ponugoti for the 3,333 vested shares was $2,433, which is priced at the closing stock price on January 31, 2018 at $0.73 a share. The Company issued 2,645 common shares (net share issuance amount), which is approximately 79% of the total vested common share amount of 3,333 common shares due to be issued to Ms. Ponugoti. The remaining 688 shares of common stock were withheld from Ms. Ponugoti for the payment of payroll taxes to the Federal and State taxing authorities.
On February 5, 2018, the Board of Directors approved the retirement of 567,872 shares of its common stock in treasury, which shares are issued but are not outstanding. These shares included the 688 shares withheld from Ms. Ponugoti, as a result, all treasury shares of the Company were retired.
We don't know who the shares were issued to or what for. Could have been to consultants, a private placement, stock based compensation to employees or it could have been to Aspire. Beyond that if they did go to Aspire we don't know that Aspire sold them. What we do know for a fact based on what the company stated in the most recent filing that the worst case through 2/7/18 would have Aspire selling at an average of 33,333.
shares per day. Go IPIX!!!
(3)
(0)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
Scroll down for more posts ▼