There's a difference between a publicly-disclosed

There's a difference between a publicly-disclosed event and an event that a company keeps concealed.

If IPIX had not disclosed that they had a term sheet, then shareholders would not know about it and would not rely on that information for investment decisions.

But since the company DID disclose this agreement (which COULD have been kept secret), now they have an obligation to inform shareholders if there is a change in that event (like a termination).

In other words, the company MADE it a material event.

We've heard NOTHING saying that the term sheet failed. Claims that such a thing is the case is mere speculation, most probably from people with ill will toward the company.

It should be clear that this financing deal puts the company in a MUCH stronger position for negotiations with a partner, most specifically with the term sheet signer, but also with OTHER potential partners. Now they know that the company can continue whether or not they take a deal.

And, this also should give people confidence knowing that people who run these family offices are smart, and would not be investing in IPIX if they didn't see a huge return for them in the future.