Just received this email which I have responded to
Post# of 72440
Original Message
From: Karen Smith <ksmith@advantageproxy.com>
To: 'Karen Smith' <ksmith@advantageproxy.com>
Sent: Tue, 3 Sep 2019 11:30
Subject: Innovation Pharmaceuticals - Special Meeting September 19
Hello,
I'm contacting you regarding the shares you hold in Innovation Pharmaceuticals which is holding a special meeting of stockholders on September 19. Following is a link to the proxy statement as filed with the Securities & Exchange Commission: https://www.sec.gov/Archives/edgar/data/13552...def14a.htm
The board of directors is asking shareholders to approve an increase the number of authorized shares of Class A common stock from 300,000,000 shares to 600,000,000 shares. The Board believes that the Company will need to raise additional capital in order to implement its business plan and is contemplating various alternatives to raise capital, including a potential private placement of shares of common stock or securities convertible into shares of common stock. The Board believes that having the authority to issue additional shares of Class A common stock will enhance the business and financial flexibility of the Company and avoid the possible delays and significant expense of calling and holding an additional special meeting of stockholders to increase the authorized shares of Class A common stock at a later date. Currently, the Board has 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 authorized share increase.
The board of directors is also asking shareholders to approve a proposal to adjourn the special meeting if we need more time to speak with stockholders and solicit their votes in favor of the Company's proposals.
After you've had a chance to review the materials, please call my toll free number 1-877-870-8565 or collect at 1-296-870-8565. I can take your verbal voting instructions in just a few, quick seconds. You may also email me your vote instructions
Please don't hesitate to contact me if I can be of any additional service.
With regards,
Karen
Karen Smith
President and CEO
ADVANTAGE PROXY, INC.
Phone: 206-870-8565
Fax: 206-870-8492
www.advantageproxy.com
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