-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Zrcc9Vy90r50ay5NH+Vl8g==

<SEC-DOCUMENT>0001005794-04-000430.txt : 20040528
<SEC-HEADER>0001005794-04-000430.hdr.sgml : 20040528
<ACCEPTANCE-DATETIME>20040528174637
ACCESSION NUMBER:		0001005794-04-000430
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040526
FILED AS OF DATE:		20040528

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IPIX CORP
		CENTRAL INDEX KEY:			0001088022
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				522213841
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1009 COMMERCE PARK DR
		STREET 2:		SUITE 400
		CITY:			OAK RIDGE
		STATE:			TN
		ZIP:			37830
		BUSINESS PHONE:		8654823000

	MAIL ADDRESS:	
		STREET 1:		1009 COMMERCE PARK DR
		STREET 2:		SUITE 400
		CITY:			OAK RIDGE
		STATE:			TN
		ZIP:			37830

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNET PICTURES CORP
		DATE OF NAME CHANGE:	20000210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BAMBOO COM INC
		DATE OF NAME CHANGE:	19990604

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WILDS DAVID M
		CENTRAL INDEX KEY:			0001062406
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-VARIETY STORES [5331]
		STATE OF INCORPORATION:			KY
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26363
		FILM NUMBER:		04839286

	BUSINESS ADDRESS:	
		STREET 1:		138 SECOND AVENUE NORTH
		STREET 2:		STE 200
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37201
		BUSINESS PHONE:		6153700056

	MAIL ADDRESS:	
		STREET 1:		104 WOODMONT BLVD
		STREET 2:		STE 300
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FIRST AVENUE PARTNERS L P /TN/
		CENTRAL INDEX KEY:			0001160585

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26363
		FILM NUMBER:		04839285

	BUSINESS ADDRESS:	
		STREET 1:		30 BURTON HILLS BLVD.
		STREET 2:		STE. 550
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37215
		BUSINESS PHONE:		6153700056

	MAIL ADDRESS:	
		STREET 1:		30 BURTON HILLS BLVD.
		STREET 2:		STE. 550
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37215
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dwildsform4052804_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001088022</issuerCik>
        <issuerName>IPIX CORP</issuerName>
        <issuerTradingSymbol>IPIX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001062406</rptOwnerCik>
            <rptOwnerName>WILDS DAVID M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>138 SECOND AVENUE NORTH</rptOwnerStreet1>
            <rptOwnerStreet2>STE 200</rptOwnerStreet2>
            <rptOwnerCity>NASHVILLE</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>37201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001160585</rptOwnerCik>
            <rptOwnerName>FIRST AVENUE PARTNERS L P /TN/</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>30 BURTON HILLS BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>STE. 550</rptOwnerStreet2>
            <rptOwnerCity>NASHVILLE</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>37215</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>86186</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.0321</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>142283</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by First Avenue Partners, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>43464</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.0198</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>98819</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by First Avenue Partners, L.P.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Owned by First Avenue Partners, L.P. Mr. Wilds disclaims beneficial ownership except to the extent of his interests therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ David Wilds, Individually and as Chief Manager of Front Street, LLC, General Partner of First Avenue Partners, L.P.</signatureName>
        <signatureDate>2004-05-28</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----