Sox, You said "Mo, I asked you where in the lock-
Post# of 72440
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Posted On: 11/10/2018 8:58:46 AM
Sox, You said "Mo, I asked you where in the lock-up agreement says no shorting but you didn't reply." Actually I replied twice. The first time in a public reply to you on post #50663 where I included the specifics from Exhibit D from the MFO agreement which can be found on IPIX’s website 8K dated 10/9/18. www.edgarmaster.com/Inet/main/DataFeedHtml1.jsp My second response was a public reply to Drano on post #50690 where I included the verbiage for a second time. Here is the verbiage for a 3rd time. You don’t need to be an expert in legal languages to understand the paragraph below.
Pursuant to the Purchase Agreement, the undersigned irrevocably agrees with the Company that, from the date hereof until ninety (90) days following the first closing date of the Company’s offering of registered securities pursuant to an effective shelf registration statement on Form S-3 (File No. 333-220419) and the Purchase Agreement (the “Offering”) (such period, the “Restriction Period”), the undersigned will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any Affiliate (as defined in the Purchase Agreement) of the undersigned or any person in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call position equivalent within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to, any shares of common stock of the Company or securities convertible, exchangeable or exercisable into, shares of common stock of the Company beneficially owned, held or hereafter acquired by the undersigned (the “Securities”)
You also mentioned I left out some information regarding if a 10b5-1 plan existed. If you reread what you posted you will see that there is a $2.00/share minimum IF a 10b5-1 was in place so it is not an issue.
Quote:
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provided , however , that the foregoing prohibition shall not apply to sales of shares of the common stock of the Company made pursuant to a valid contract, instruction or plan that satisfies the requirements of Rule 10b5-1 under the Exchange Act (a “ 10b5-1 Plan ”), provided that such 10b5-1 Plan existed or was entered into prior to the date hereof and provided that such sales were made at $2.00 (as adjusted for reverse and forward stock splits, recapitalizations and similar transactions following the date hereof) or higher.
I am not sure how this could be any clearer. The MFO cannot sell or short IPIX stock for 90 days or until 1/9/19 so please let this false narrative go.
Pursuant to the Purchase Agreement, the undersigned irrevocably agrees with the Company that, from the date hereof until ninety (90) days following the first closing date of the Company’s offering of registered securities pursuant to an effective shelf registration statement on Form S-3 (File No. 333-220419) and the Purchase Agreement (the “Offering”) (such period, the “Restriction Period”), the undersigned will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the undersigned or any Affiliate (as defined in the Purchase Agreement) of the undersigned or any person in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call position equivalent within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to, any shares of common stock of the Company or securities convertible, exchangeable or exercisable into, shares of common stock of the Company beneficially owned, held or hereafter acquired by the undersigned (the “Securities”)
You also mentioned I left out some information regarding if a 10b5-1 plan existed. If you reread what you posted you will see that there is a $2.00/share minimum IF a 10b5-1 was in place so it is not an issue.
Quote:
________________________________________
provided , however , that the foregoing prohibition shall not apply to sales of shares of the common stock of the Company made pursuant to a valid contract, instruction or plan that satisfies the requirements of Rule 10b5-1 under the Exchange Act (a “ 10b5-1 Plan ”), provided that such 10b5-1 Plan existed or was entered into prior to the date hereof and provided that such sales were made at $2.00 (as adjusted for reverse and forward stock splits, recapitalizations and similar transactions following the date hereof) or higher.
I am not sure how this could be any clearer. The MFO cannot sell or short IPIX stock for 90 days or until 1/9/19 so please let this false narrative go.
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