RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

This is just the beginning of the new era for Cortex, both in management, financing, and clinically. The $1 mil will breathe some life back into the Cor bank account, but obviously it will take a lot more to get things moving clinically.

There are approx 1.5 billion shares already authorized, and under the current terms, raising $10 mil will mean 350 million new shares, plus warrants, putting the share count up into the 1/2 billion range, so I've been figuring there could eventually be a reverse split somewhere down the road.

However, it's also possible that Dr. Lippa has something else in mind. He does have a wealth of experience and contacts on the financing side, and raising this $1 mil will give him some breathing room. It's possible that having cleaned up the balance sheet, gotten the IP situation back on solid ground, etc, perhaps he wants to get the company into the hands of a larger entity (?) Who knows, but all in all Cortex is in a whole lot better shape now than it was a few years ago when we basically had written it off as DOA.