The disconnect between great news and a compressed
Post# of 72447
(Total Views: 471)
Posted On: 05/19/2020 3:05:25 PM
Quote:
The disconnect between great news and a compressed IPIX share price (SP) is obvious to anyone who has been paying attention.
Yes, it is.
Shares Outstanding Dec 31, 2019: 218,551,663
Shares outstanding March 31, 2020: 266,749,392
Cash March 31, 2020: $775,000
Total Liabilities March 31, 2020: $8,480,000
Listed on OTC
Stock price ~$0.15
As described in Note 8, the Company has accrued payroll to Dr. Krishna Menon, exPresident of Research of approximately $1,443,000 for his past services with the Company, and this amount was included in accrued salaries and payroll taxes. As described in Note 10, the Company has a payable to KARD of approximately $1,486,000 for its research and development expenses and this amount was included in accounts payable. KARD is a company owned by Dr. Menon. Dr. Menon’s employment was terminated with the Company on September 18, 2018, and Dr. Menon resigned from the Company’s Board of Directors on December 11, 2018. Dr. Menon, on behalf of himself and KARD, demanded payment of these amounts in October 2019; however, the Company disputes the underlying basis for these amounts and notified Dr. Menon in November 2019 of the Company’s intent not to pay them.
What happens if Dr. Menon sues for this money and somehow wins?
Where would our company be right now if COVID hadn't struck and given us huge amounts of volume and a doubling of the share price?
We can have all the science in the world but it's tough to pay the bills with just that.
Go IPIX!
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