Leo didn't do it for such an outlandish reason as
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Posted On: 04/07/2018 7:34:12 PM
Leo didn't do it for such an outlandish reason as driving out naked shorts. It's possible but I doubt it. I also don't think it was because the name sounded weird or was hard to pronounce. The logical reason is that CTIX/Cellceutix was tagged in so many SA hit pieces as well as the court case news. Changing the name to IPIX helps shed that past smear campaign.
Go ahead and try:
When I google "Cellceutix" three of my top 10 hits still are a Mako article or a denouncing of it.
When I google "CTIX" I now get a mix of IPIX and garbage.
When I google "Innovation Pharmaceuticals" I get all IP info and positive articles.
When I google "IPIX" I get just IPIX ticker information.
I have had a number of friends ask me "They're getting sued?" when I recommended the stock to them back in 2015/2016. I know one investor personally who sold all their holdings when the Rosen suit was filed and still won't come back to it even after winning the case. Even though we handily beat Rosen's case, it's better to have no record of a lawsuit on Google than a winning one.
It hasn't helped the price yet, but once big Prurisol or deal news hits the wire you want people Googling the company with a clean slate. Very wise reason for investing the money in the change in my opinion and no tin foil hat required. If that wasn't the driving reason for the name change...well...for my own sanity I'm going to pretend it was.
Go ahead and try:
When I google "Cellceutix" three of my top 10 hits still are a Mako article or a denouncing of it.
When I google "CTIX" I now get a mix of IPIX and garbage.
When I google "Innovation Pharmaceuticals" I get all IP info and positive articles.
When I google "IPIX" I get just IPIX ticker information.
I have had a number of friends ask me "They're getting sued?" when I recommended the stock to them back in 2015/2016. I know one investor personally who sold all their holdings when the Rosen suit was filed and still won't come back to it even after winning the case. Even though we handily beat Rosen's case, it's better to have no record of a lawsuit on Google than a winning one.
It hasn't helped the price yet, but once big Prurisol or deal news hits the wire you want people Googling the company with a clean slate. Very wise reason for investing the money in the change in my opinion and no tin foil hat required. If that wasn't the driving reason for the name change...well...for my own sanity I'm going to pretend it was.
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The Ghost of Phteven. All posts my opinion and speculation only.
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