RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

DrFreely, From the SEC filings on May 11 and 13, it looks like they decided to convert existing convertible notes/preferred shares, plus exercise outstanding warrants and options. The filing also indicates there will be 'future issuances', and presumably this all comes out of the 1.4 billion authorized shares -


http://www.sec.gov/Archives/edgar/data/849636/000149315215001838/prer14c.htm



>>> The Company intends to use the newly authorized shares of common stock to provide a sufficient number of common shares for the Company’s current and expected future equity-based commitments and transactions, including:


(i) the conversion into common stock of the Company’s Series G 1.5% Convertible Preferred Shares (issued in March and April 2014);

(ii) the conversion into common stock of the Company’s Convertible Notes issued from November, 2014 through February, 2015; and the exercise of warrants issued in connection with that transaction;

(iii) the exercise of other currently outstanding stock options and warrants; and

(iv) the future issuances of common stock (or securities convertible into or exercisable for shares of common stock): (a) pursuant to the Plan; (b) in satisfaction of certain trade accounts payable and other liabilities; and (c) to fund the Company’s business operations, including research and development activities.

Although the Company does not currently have any formal arrangements, agreements or understandings with respect to the authorized but unissued shares of common stock resulting from the amendment (other than as specified herein), the Company is actively seeking to raise additional working capital, and anticipates entering into agreements to issue additional shares of common stock and/or securities convertible into or exercisable for common stock in one or more equity or equity-linked financing transactions in 2015 and likely thereafter. <<<