Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The last 10-K ERHE filed was in 2017 but it's still on the Expert Market. The SEC sought revocation in 2019 and it was denied by the courts in 2020.
Personally I'm disgusted by the fact this stock is going to the Expert Market but I don't think it's certain death as you keep ascribing.
It's possibly different in Canada. But in Canada you'll need a Canadian address to open an account. JMHO
Thanks for the update. My preference would have been dilution to satisfy regulatory requirements versus going to EM since I'm concerned about revocation/reinstatement. I'm sure they know more than I but the whims of regulators, or the regulators themselves, may change. Also, does an OTC Pink stock qualify for grants better than an Expert Market stock? I have no idea. There's a decent chance their path forward has been established, regardless of market.
Honestly the whole thing stinks but in a grey world (versus black and white) I'll take a favorable endgame despite the questionable moves versus the shareholders getting nothing in terms of ROI. GLTA
If they receive shares in the spin-off companies which will appreciate in value better than the original investment would have then yes.
On the RespireRx website they've got their Ampakine and Gabakine platforms under the umbrella of the moniker EndeavorRx, so I can see that all being spun off into one company. If they're going to put us into stock purgatory for an extended period of time I'd rather they just start off fresh with a new name on a better market. All IMHO.
I think LTListener has it right. This all makes sense if the IP will go to spin-off companies and RSPI becomes nothing but a worthless shell in the end, in which case where it trades will not matter. I'm guessing the rationale is that this approach will attract a higher class and more LTBH mentality of investor once these new companies begin trading, thereby benefitting present day RSPI shareholders with a greater market capitalization for their assets in the future versus having to deal with climbing out of the ranks of penny stock status.
Phantom stock...provide employers with a means of providing equity-linked compensation to employees without the need to materially dilute their stock.
https://www.investopedia.com/articles/stocks/12/introduction-phantom-stock.asp
Perfectly surmised.
How many hundreds of millions of shares were added to the O/S this past year? After news of DOD funding they could have easily raised the funds for an audited 10-K. They are choosing to bring this to the Expert Market.
I understand that getting ahead of the move to EM seems pretty straightforward in terms of staying on OTC Pink, even without fling audited annual financial statements. However, the anecdotal reports on this board is that coming back from EM is a different story.
Does it matter if the stock is a POS or not? If the company is easily recognizable as having transformed itself into a good company then hopefully coming back from a less than desirable financial situation would be pretty straightforward to achieve a market status other than EM. But we don't know how selective the decision makers are in this regard. On the outside looking in I would say it would be better to be safe than sorry.
It's the CFO, and respectfully, where does it say anywhere that a simple form or whatever gets us back?
Huh, yeah, I believe you're right on that actually. I guess we'll see what all happens. GLTA
You can't even speak English.
It's wrong to do this. Retail should be respected. We still have no idea if they're going to spin everything off and give us crumbs. Big time anxiety because, best case scenario, they want to enrich their friends.
I'd never do this to retail shareholders. Would you?
Disappointed to say the least. EOM
I'm not sure why a huge bid, even below the best bid, would have that effect.
Excuse my ignorance, but did the bid sizes of tens of millions of shares only start showing up after things had been taken to the brink?
longranger is always a real one. Respect.
Why are you replying to someone that can't even speak English?
This is true. I was buying even in this Grace Period so I can't complain too loud, but honestly this is a joke. Best case scenario is a merger which would "justify" a delay. GLTA.
P.S. In the end God loves you so soldier on, but we all know it would be right if they do right by the Shareholders.
It's not "understable". They knew what what they were sitting on. It's an absolute shame they chose not to cobble together the money for accounting fees to stave off this mess.
If they let this go to Expert Market for some stupid reason who cares? I own 20 million shares of this stock and I bought the dilution. From a decency standpoint I expect them to do right by us, and the stage where we're in the best case scenario is still causing unnecessary anxiety.
If this goes to Expert Market it's an abject dereliction of fiduciary responsibility. Publicly traded companies should remain publicly traded, and the Expert Market is a joke.
Possibly, or alternatively offshore brokers.. Although the latters' minimum funding requirements are generally higher.
Questrade may be able to help you. If RSPI decides to screw its shareholders and go Expert Market I'm sure you can find a non-US brokerage that can help you purchase the stock.
You can go to sec.gov to search for fillings if that's what you were looking to do:
I called Jeff. He wouldn't say much other than watch for an 8-K like others have said. One thing I did ask was whether the #OPENTOWORK status on LinkedIn was because he was planning on giving up his responsibilities with RespireRx. He said that wasn't the case, he just has a consulting business on the side.
Thank you for the update even if it does just make the mystery deepen. Hopefully they do right by the shareholders, since the pipeline is promising to say the least.
Thanks for the post, butt where does one obtain access to the data of this trading activity?
Thank you for your insight into this matter. I sent an email to Jeff this morning regarding this issue.
For non-accelerated filers like RespireRx the due date would be 45 days after the end of the quarter (so in RespireRx's case, May 15 to submit their 10-Q for the first quarter). Last year they submitted an NT-10Q at that time, and the 10-Q shortly thereafter. This year, for whatever reason, they did not submit either. Either way, RSPI is delinquent in submitting their filing for the first quarter of this year.
The due date for the second quarter filing will be August 15 (not July 31). I can say that with some confidence because their filings (or extensions) from previous years were filed on the dates that I've mentioned in this post.
The link said that annual filings were due 90 days after the end of the fiscal year for non-accelerated filers. The fiscal year ended Dec. 31, 2023. They filed an NT-10K on April 1st which would have extended the deadline by 15 days.
Are you able to set the record straight then? I don't know how the whole delinquency thing works.
I'd say the stock is primarily where it's at because of the age of the company (I've been following this company for close to 30 years since when it was known as Cortex Pharmaceuticals). It's been around for so long that eventually the market just assumed it would fade into oblivion like most pennies, and over time the share price dwindled. To the credit of management they've been able to advance some of their drug candidates to a point where excitement has begun to build again.
I would say that its present sub-penny status is largely due to the dilution of the past year, their delinquency in terms of filing, and the company's lackluster (to put it rather kindly) marketing to the investment community. But I'm hopeful these issues can be turned around and the company becomes a more shareholder friendly company, which, in conjunction with sustained good news, could result in a highly impressive run that could manage to hold onto its gains (IMHO).
Thanks very much for the post. EOM
$200.
$4000 today.
Ugly inside and out.
Someday this may go down as the worst call in the history of stocks. Already a terrible call but I'm here for it to get so much worse.
I was able to place Trans Trade on ignore without any difficulties.