IPIX Email Update .. Upcoming Shareholder Meeting
Post# of 72446
(Total Views: 543)
Posted On: 08/05/2019 8:14:58 AM
IPIX Email Update .. Upcoming Shareholder Meeting
Aug 5 at 8:00 AM
Upcoming Shareholder Meeting
The Company is now in the planning stages for a special shareholder meeting. The meeting will present an opportunity to interact with shareholders, and have shareholders vote to authorize an increase in the number of authorized shares of Company stock. This is to ensure that an adequate number of authorized shares are available pursuant to our existing securities purchase agreement with the multi-family office who has financed us. The agreement requires a significant number of authorized shares to be held in reserve. We don't want that to be a hindrance as we execute on our plans to grow the Company. Increasing the number of authorized shares provides us with financial flexibility.
Currently, we have no specific plans, arrangements or understandings, whether written or oral, with respect to the increase in shares available for issuance as a result of the proposed increase in the number of authorized shares.
As detailed in our recent Corporate Update, we plan to leverage our accomplishments, thus far, in 2019, including the execution of a license agreement with Alfasigma for worldwide rights to develop Brilacidin for localized treatment in Ulcerative Proctitis/Ulcerative Proctosigmoiditis. Negotiations with other potential pharmaceutical partners remain ongoing. Securing licensing deals is a primary objective.
Sincerely yours,
Leo Ehrlich, CEO
Aug 5 at 8:00 AM
Upcoming Shareholder Meeting
The Company is now in the planning stages for a special shareholder meeting. The meeting will present an opportunity to interact with shareholders, and have shareholders vote to authorize an increase in the number of authorized shares of Company stock. This is to ensure that an adequate number of authorized shares are available pursuant to our existing securities purchase agreement with the multi-family office who has financed us. The agreement requires a significant number of authorized shares to be held in reserve. We don't want that to be a hindrance as we execute on our plans to grow the Company. Increasing the number of authorized shares provides us with financial flexibility.
Currently, we have no specific plans, arrangements or understandings, whether written or oral, with respect to the increase in shares available for issuance as a result of the proposed increase in the number of authorized shares.
As detailed in our recent Corporate Update, we plan to leverage our accomplishments, thus far, in 2019, including the execution of a license agreement with Alfasigma for worldwide rights to develop Brilacidin for localized treatment in Ulcerative Proctitis/Ulcerative Proctosigmoiditis. Negotiations with other potential pharmaceutical partners remain ongoing. Securing licensing deals is a primary objective.
Sincerely yours,
Leo Ehrlich, CEO
(3)
(0)