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So this formal, filed explanation was just so much bullshit?
"RespireRx Pharmaceuticals Inc. (the “Registrant”) was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the period ended December 31, 2023 (the “Annual Report”) by the April 1, 2024 filing date applicable to smaller reporting companies due to a delay experienced by the Registrant in completing its financial statements due to additional time needed for the Board of Directors (acting as the Audit Committee) of the Registrant to complete its review of the Annual Report with the Registrant’s independent registered accounting firm."
As was this communication to someone on this board?
"The SEC filings cannot be done until our auditors are independent. We owe them enough that they are not currently independent."
Are you saying that the true reason for the failure to file was that it was an intentional ploy to conduct some kind of business that had nothing to do with their failure to pay their auditors?
"Whatever is going on in the background that precipicated the move to EM most surely has to do with funding and structuring the GABA program going forward now exiting NIH preclinical trials."
Or did they intentionally fail to pay their auditors in order to conceal the activities that you think they are undertaking? If so, why would they do that?
"The longs will still maintain, but will not be able to sell until RSPI returns from EM."
Sure they can, if they want to. It's buying that the brokers aren't permitting while in the EM.
Do you have a thing for Expert Market stocks? I know you're drawn to losers:
IL_S 2/15/22 "snap them nuggets up, money growing on trees here."
price at the time was $.145.
price at your last post 2 years later was $.0063.
Then you did a Leo (slipped away under cover of darkness).
THAT has been your reality more than once. It's happening here and there's no reason to think you won't get back to it. Any more recommendations? Maybe something over a dime (so it can be shorted profitably) like that last example?
Do you really think that this CEO has a plan that included getting onto the Expert Market?
That arithmetic doesn't makes sense to me. The exercise price for the warrants is $0.0015. Can you explain further how his deal set up a strong disincentive against dilution? The 33,333,333 shares don't connect to the $10,000.
"I have to look around, but I can get info that allows me to make educated guesses"
Do I understand you to mean that they DON'T publish bid and asked prices?
In the US brokers can't, but the Expert Market doesn't prohibit trading and the publication of trade data, from which one might "make educated guesses" before placing their sell orders.
You've said this 5 times. Can you tell me what you mean by it?
"Dr Nasiek deliberately set up a strong disincentive against dilution"
"The Purchase Agreement is with the Dariusz Nasiek and Sara Nasiek, JTTEN and identified a $100,000.00 loan in the form of a Demand Promissory Note and a Warrant exercisable into 33,333,333 shares of RespireRx Common Stock. "
Thanks for all the feedback.
Thanks for the comeback. Seems like you may have a leg up on this.
Are you a Canadian resident?
Does RBCI publish bid and asked prices?
Any chance you used Royal Bank of Canada Investing to try and place a buy order today?
Is that you climbing out from under those 9,000 shares today? What're you gonna do with the 10 bucks?
Nonsense. The outcome was defined by the data and the tests were designed by IPIX with the concurrence of the FDA. These are things we KNOW, not fantasies created to excuse the inexcusable.
The Fat Lady sang that day and the Company paid for it for the next 3 years at which point she sang again. That's when Leo decided not to file a 10K and you got a taste of the Expert Market. Did BP steal his pencil?
Wake up.
Did I? I sure don't think so. Hard to get spanked by someone who doesn't know the difference between a 10K filing and an OTCMarkets Annual Report.
You Expert Market wizards have a lot in common.
All entries onto the Expert Market are self-inflicted.
I'll bet there's a good reason. It's just not obvious. Pumperooski? Every time this happens it finds its way back down.
"Explain why it shows 5/1/2023 10Ka if that’s not a 10K, as well as 2022."
I can explain it but you won't like it:
The 3 items appearing as Inactive filings were listed as 10K/A filings, which typically stands for a 10K Amendment. But that's not what they are.
They are OCTMarkets Annual Reports which were originally provided by the Company as Active reports.
OTCMarkets recognized that they weren't SEC filings at all and required that they be moved to Inactive status.
You do know that there's a difference between an OTCMarkets Annual Report and a 10K, don't you?
"Smfh" appears to have made you dizzy.
Good trick....you clicked on the Inactive button under which nothing valid appears. Click on the Active button this time: https://www.otcmarkets.com/stock/CDNO/disclosure
Now look at the Edgar listing I linked.
Here it is again: https://www.sec.gov/edgar/browse/?CIK=839426
That's NOT a 10K. Their last 10K was filed in 1999. In 2003 they filed a Form 15 which effectively ended their SEC filing obligations.
https://www.sec.gov/edgar/browse/?CIK=839426
"CDNO only files a 10K once a year and they remain pink limited with the same warning."
They don't file a 10K...they stopped having an SEC filing obligation in 2003.
They filed an Annual Report with OTCMarkets that allows them to remain a Pink Market Limited company.
https://www.otcmarkets.com/stock/CDNO/disclosure
"I thought that note was there the whole time". You're right about that.
"but maybe the verbiage changed". It hasn't.
"still shows Grace period symbol"
Tomorrow the Pink Limited note will go away, as will the Grace Period symbol, and they will be replaced by "Expert Market" and the double Black Diamonds. Brokers will not allow the purchase of RSPI shares by regular retail investors and will not be allowed to provide buy/sell quotes.
Call it an unnecessary distraction if you like but the above should hold true.
JMO.
3 of the referenced revokees hadn't filed for over a decade before their plugs were pulled. There is no fixed schedule for "When?".
"the insiders all took shares instead of cash."
The Form 4s filed in 2020 show that they took Preferred shares convertible into common and warrants expiring on 9/30/23 that had an exercise price of $.007. Did they expire or were they exercised?
Prior to that they took some common based on a $.034 share price, so those shares would now be worth 5% of what they were then IF they are still holding them.
A 10-K filing would clear this up. Current management hasn't filed any Form 4s since 2020.
That was discussed in December when it happened.
You were part of the thread: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173463316
It's for BeaMed Laser Surgery Fibers, not the the StingRay Laser System.
It was Leo's design, wasn't it?
"None of you n your haters can use the excuse of "saving the poor future buyers" of this stock."
Since when do I need an excuse to post? I pay for the privilege, just as you do. Oh, that's right, you don't.
I'll keep posting as long as I have something to say. As usual you have nothing to offer in the way of facts to refute the facts that I post.
No filings. No Board. No CEO. No clinical trials. No money.
Please don't sell your shares. I sure as Hell don't want them.
"If they didn't want a filing requirement anymore, then they easily could have told the SEC through EDGAR via the proper form."
That form, Form 15, has requirements (less then X number of holders of record) and I'm not sure if the Company has met them. Are you?
"They failed to do so and are severely delinquent."
Even the SEC wouldn't say "severely"....it has been less than 4 months since the end of the 10-K grace period.
Your points are valid but maybe a little less hyperbolic language?
"This has a filing obligation. It will face revocation proceedings."
That may be true but the question is "When?". The latest 5 companies that were revoked as reported at the link that you provided were delinquent since 2010, 2001, 2019, 2002 and 2020 but they all had one thing in common.....they were all either in Default or or Delinquent in their filings in their State of Incorporation. Two of them were delinquent in Delaware, RSPI's State of Incorporation.
It MAY be safe to conclude that the SEC was triggered to act in those 5 cases by the Company's failure to comply with the requirements of their State. There is nothing in the public record to indicate that RSPI is delinquent with Delaware. Unfortunately Delaware will only provide a Company's Statement of Good Standing to those willing to fork over $10 and I am unwilling.
The share price crashed (cue the fat lady) after the covid test failure.
10 Nov 2021 0.334 2M shares traded
11 Nov 2021 0.0892 125M shares traded
I think she picked this one just for you:
https://www.bing.com/videos/riverview/relatedvideo?&q=mama+cass&&mid=80C262A10EAC078EA1B880C262A10EAC078EA1B8&&FORM=VRDGAR
Keep dreaming.
BTW, longs are only stuck if they wanna be.
Thanks. I just tried contacting them via their email form and it required me to provide my Province before processing my message. I'm a US resident....do they not allow non-Canadians to have accounts?
"This plan to go EM"
It's a plan? The failure to pay the auditors was part of a plan? Was it even true to say that the failure to pay their auditors resulted in a loss of their independence?
Did they lie to the SEC when they said that the failure to file on time was "due to a delay experienced by the Registrant in completing its financial statements due to additional time needed for the Board of Directors (acting as the Audit Committee) of the Registrant to complete its review of the Annual Report with the Registrant’s independent registered accounting firm. As a result, the Registrant is still in the process of preparing disclosures and accumulating validating information needed to complete the Annual Report."
The failure to file the 10-K was a plan?
Twice:
11/11/21 "Brilacidin did not show a difference compared to placebo in reducing Time to Sustained Recovery Through Day 29, the study’s primary endpoint based on clinical status."
4/17/24 "Warning! This security is traded on the Expert Market "
Be sure to use the phrase "conger up" when you do, genius.
Name the brokers that let retail investors like us trade Expert Market stocks. You said that there were some and I don't think that there are any.
"Trust me, you too can trade EM shares with what platforms are always up n running."
"There are trading platforms available to trade EM"
Can you name a couple?
(time sensitive question)
I believe it goes in on the 17th based on this and assuming it entered the Grace Period on the date that the notice was posted:
Form 8-k
Item 8.01. Other Events.
On July 2, 2024, the OTC Markets Group posted a notice of the commencement of a 15 calendar grace period.
The notice reads as follows:
“This security has entered a 15 calendar day Grace Period because OTC Markets Group is unable to confirm that the issuer’s disclosure is current and publicly available under Rule 15c2-11. It will be downgraded to the Expert Market at the end of this Grace Period unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception.”
Any retail investor holding or looking to buy shares after the 16th isn't likely to find an accommodating broker, including their current broker. Retail investors looking to sell shares once they are on the Expert Market will be selling them without the benefit of a public quote.
OTCMarkets doesn't give a horses patootie about pipeline stories if that's what you mean by "what's taking place here".
BTW that expert market company that you just referred to just saw another 12 shares trade hands.....at $.0002.
"I am holding another Expert Market Stock and it's up 900% this morning: "t
A Company that's in Chapter 11 moved 900% on one trade for less than $600.
"They haven’t even diluted to fund the audited fins, let alone anything else."
They say that they owe the auditors too much for them to be independent but you have NO IDEA whether they issued shares with the intention of paying them or for anything else since 6/5.
The ONLY thing that you know is that their Transfer Agent reported to OTCMarkets that 836,427,843 common shares were outstanding as of 6/5/24.
Prior OTCMarkets reports were:
804,682,161 on 05/22/2024
774,682,161 on 04/02/2024
697,724,828 on 03/01/2024
660,665,615 on 2/13/2024
They COULD HAVE issued some of those shares for auditor payment and just elected not to use it for that purpose. After all, they borrowed $100K in early April, ahead of the due date extension for the 10-K, but if they are to be believed they chose NOT TO use it to get current enough with their auditors to assure their independence.
You don't know this......"They haven’t even diluted to fund the audited fins, let alone anything else."......and until the 10-K (and now the overdue 10-Q) is published OR the T/A updates the OTCMarkets number, you won't.
Just for frame of reference it would take a 66M+ share issuance to raise $100K at $.0015. As you can see they issued 176M shares between 2/13 and 6/5.
"so when is the last day b4 EM?"
Sounds like the 16th.
Form 8-k
Item 8.01. Other Events.
On July 2, 2024, the OTC Markets Group posted a notice of the commencement of a 15 calendar grace period.
The notice reads as follows:
“This security has entered a 15 calendar day Grace Period because OTC Markets Group is unable to confirm that the issuer’s disclosure is current and publicly available under Rule 15c2-11. It will be downgraded to the Expert Market at the end of this Grace Period unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception.”
" On January 11, 2023, RespireRx formed as a wholly-owned subsidiary, ResolutionRx, an unlisted public company in Australia, into which RespireRx, as of August 3, 2023, has contributed its cannabinoid platform described below."
"Is the Australian company a subsidiary of rspi or a spun off company which rspi share holders have no stake?"
Rspi share holders have a stake in ResolutionRx via their RSPI ownership.
I thought it was obvious.
You asked a question:
"I am surprised they dont put out a PR everyday to remind all investors they are going to EM market!
Is it likely or unlikely?"
I believe that the submission of a 10-K is the only thing that can prevent the Company moving to the Expert Market at the end of the Grace Period.
I think the only thing that can prevent it is the submission of the 10-K.
"At this time, the Company believes that it is unlikely that it will be able to make the required filings within the grace period and anticipates that trading will be restricted to the expert market at the expiration the grace period. To cure the deficiency, the Company is in the process of attempting to raise funds of which no assurance can be provided. RespireRx has also contacted the OTC Markets Group."
"unless OTC Markets Group determines another exception under Rule 15c2-11 applies, such as the Large Company/ADTV exception."
Doesn't apply.
(f) Exceptions. Except as provided in paragraph (d)(2) of this section, the provisions of this section shall not apply to:
---
(5) The publication or submission of a quotation for:
(i) A security with a worldwide average daily trading volume value of at least $100,000 reported during the 60 calendar days immediately before the publication of the quotation of such security; and
(ii) The issuer of such security has at least $50 million in total assets and $10 million in shareholders' equity as reflected in the issuer's publicly available audited balance sheet issued within six months after the end of its most recent fiscal year.
You told people to follow you here because it was "Ipix 2.0" so I did, just to see what was up. I didn't destroy your investment there...the Company's management itself did that....and I have zero interest in destroying your investment (or anyone else's) here.
Lets see what happens. Meanwhile please address the content of my posts if you can.
So far this Company seems to be living up to the exemplar you provided for it. It's about to keep the 1.0 version company on the Expert Market, isn't it? And the share prices both start with $0.00. And they both purportedly have terrific pipelines with nothing to show for it.