Dear Jeffrey,
I have been a shareholder since the Cortex days.
I saw my $100,000 dollar investment get wiped out, an only have myself
to blame.
I always felt the potential of the technology exceeded the risk, so I
held on stupidly.
Is there any hope for us? We need some kind of communication. So
validation from you.
Sincerely,
His reply is as follows;
From: Jeff Margolis <jmargolis@respirerx.com>
Date: 5/17/17 12:00 PM (GMT-06:00)
To: Bill Paprocki <Bill@servosolutionsinc.com>
Subject: Re: concerned shareholder
Bill:
I’m not sure my answer will be adequate for you, but I do believe there is promise for this company. However, even if that promise is achieved, I cannot assure you that you will achieve a positive return on your earlier investment or even a partial return of what is currently unrealized losses.
A statement of that belief in the promise of the company is our general willingness to have deferred our cash compensation and receive equity or equity-linked (options) as compensation. I, and our Chairman (who is also our Chief Scientific Officer) have been involved with the Company since March 22, 2013. Our Chairman invested $250,000 in our first financing since then (March/April 2014) and has invested again. Since March 2013, although, we have accrued our compensation in accordance with employment contracts that went into effect on August 18, 2015 (and earlier than that without contracts), we have not received a single dollar of that cash compensation to date. The entire accrual remains on the Company’s books. The same is true for our Vice Chairman and CEO, who joined us on August 18, 2015. He invested $250,000 at that time and has since invested more. We have made progress in financing the company although we can always use more finance. Two important clinical studies have been completed.
In short, I do believe in the economic and human health value of what we are doing and would expect it to be recognized in the stock price. That being said, we can never guarantee that.
We can say that we always do what we believe is in the best interests of our shareholders which includes the management team and the Board of Directors.
Sincerely,
Jeff
Jeff Eliot Margolis
Vice President, Secretary, Treasurer, Interim CFO & Member of the Board of Directors
RespireRx Pharmaceuticals Inc.
354 Widow Gavits Road
PO Box 1167
