IMNN Schedule 13G/A: 1.07M Shares Reported by Intracoastal Group
Rhea-AI Filing Summary
Reporting persons Mitchell P. Kopin, Daniel B. Asher and Intracoastal Capital LLC disclose beneficial ownership in Imunon, Inc. The filing shows each may be deemed to beneficially own 1,067,196 shares of common stock, representing 4.99% of the class. That figure is calculated using the issuer's reported outstanding shares of 20,319,511 plus 1,067,196 shares issuable upon exercise of an Intracoastal warrant.
The report states sole voting and dispositive power are 0 and shared voting and dispositive power are 1,067,196. It also discloses an additional 1,155,028 warrant shares are excluded because the warrant is not currently exercisable pending stockholder approval and includes a blocker limiting exercise above 4.99%. Without that blocker and if currently exercisable, the filing notes each reporting person could be deemed to own 2,222,224 shares.
Positive
- Clear disclosure of beneficial ownership: 1,067,196 shares (4.99%) reported for each reporting person
- Transparency around warrant mechanics and an explicit blocker provision that limits immediate exercise above 4.99%
- Shared voting and dispositive power disclosed (1,067,196), with 0 sole voting/dispositive power, reducing unilateral control risk
Negative
- Reporting persons hold concentrated shared voting/dispositive power of 1,067,196 shares, which could matter to some investors
- Warrants could increase potential ownership to 2,222,224 shares per reporting person if exercisable without the blocker, indicating possible future dilution or concentration
Insights
TL;DR: Beneficial ownership is disclosed at 4.99%, below the 5% reporting threshold, with warrants and a blocker that limit immediate control.
The filing provides clear, quantified disclosure: 1,067,196 shares equate to 4.99% of the common stock on the stated basis of 20,319,511 outstanding shares plus the warrant shares. Voting and dispositive power are shared, not sole, which reduces immediate unilateral control risk. Materiality is limited because the position is under 5% and the holder has no sole voting authority, though warrant mechanics could change future ownership math if exercisable or if shareholder approval is obtained.
TL;DR: This is a routine Schedule 13G disclosure showing a sub-5% stake with a blocker and non‑exercisable warrant that constrain escalation of voting influence.
The report identifies the reporting group and discloses both the actual beneficial ownership used for the percentage calculation and the excluded warrant shares (1,155,028) that are not exercisable until stockholder approval. The presence of a blocker provision explicitly prevents exercise that would push ownership above 4.99%, which is important for governance and control considerations. Overall, the filing increases transparency but does not signal a change of control.