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"I think the problem has been the OTC which they have stated for awhile."
All OTCMarket's fault? That's hysterical. OTCMarkets isn't holding them captive.
"I do not think the science guys here, including the CEO can hide their geuine excitement and confidence in their programs."
They're doing a fine job of it so far.
"afraid to try because that means the drugs might fail and the whole gig would be up" (incomplete quote)
That has been my feeling for a long time. I think the same theory applies to Diwan's former co-worker (who has just left his Company to rot in the Expert Market). In his case, however, he finally put himself out on a limb. A Phase 2 Covid trial failed and he could no longer hide the lack of effectiveness of his candidate.
"In order to determine if NNVC's NV-387 IND package is good enough for FDA, NNVC needs to actually submit it to them."
Too busy doing the hokey-pokey.
JMO....scientifically unqualified.
That's a mistaken belief. And it's not an "alleged" letter.....I posted the link to the exchanged correspondences here:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174910356
Okay so I'm asking. What are the current bid and asked prices for RSPI?
And I'm a little confused about your question so I'm going to re-write it the way I understand it even if my grammar is crappy....hopefully it's the way you meant it:
Are you saying that trades are being made in EM that us retail investors are in the dark about?
For a proper discussion of that I'll refer you here:
https://blog.otcmarkets.com/2023/09/14/the-expert-market-its-larger-role-post-rule-15c2-11/
But a concise answer to your question seems to be "No".
"Trades in Expert Market Securities that are not deemed “Restricted Securities” by FINRA1, are reported and distributed through normal market data distribution channels."
Theoretically we get to see all the trading activity in the "normal market data distribution channels" such as Ihub and OTCMarkets. FWIW Ihub and Y___ daily volume numbers have been identical since entry into the EM.
https://ih.advfn.com/stock-market/USOTC/respirerx-pharmaceuticals-ce-RSPI/historical
Also note that it is my understanding that insiders are prohibited from trading their restricted securities. This fact may be important to those who feel the Expert Market was entered willingly for reasons that I find unclear or just due to their inability to get their filing act together (that's my sense of it).
" Conversely no new money interests can buy or accumulate shares on the EM,"
Sure they can. In fact retail buyers are the only ones having trouble doing that. The market was created to allow "experts" to trade.
Only broker-dealers and professional or sophisticated investors are permitted to view quotations in Expert Market securities hence they are the most likely buyers.
"Pisses you off doesn't it."
What pisses me off? That someone (not you) found a place to trade IPIX shares while paying a commission in excess of twice the share value of the trade? I think it's great and encourage you to avail yourself fully of the opportunity.
"One person out of the approximately 980 board followers found it necessary to demonstrate elementary math skills highlighted with dollop of sarcasm that concluded with a boast about calculator expertise.
Why?"
It's funny that you think dividing is an example of calculator expertise.
No comment regarding the stuff that mattered? That's typical.
"Commission rates as low as $.0009/Share for Stocks.
Doesn't that mean that for every one dollar worth of IPIX shares you buy (or sell) you pay more than two dollars in commissions? "
Aren't you going to ask if there was "No reason given?"? Again.
"So NNVC making official claims that there was no toxicity observed at the tested levels of their drug candidate in public statements is - indeed - something that they should be careful about stating until after FDA review and approval. The FDA emphasized that point in the letter than you cite."
Pretty sure that was an SEC letter, but I'd be very interested to know if the Company has heard directly from the FDA on that score.
"There's an inactivity fee of $30 per quarter to be aware of."
Trader beware! It's gonna cost you 33 cents a day to NOT trade in your Speed Trader account. I expect that would be a major concern to those of you who deal in stocks that change hands for four ten thousandths of a dollar each.
Commission rates as low as $.0009/Share for Stocks.
Doesn't that mean that for every one dollar worth of IPIX shares you buy (or sell) you pay more than two dollars in commissions?
Fortune favors the bold who know their way around a calculator.
Wrong again.
I was skeptical and asked you "can you name a couple?".. You couldn't.
I join you in thanking the poster for providing the information that you could not., although I would question the judgment of anyone using SpeedTrader to buy this particular Company's shares.
No need to be snotty about it.
Aren't you the guy who told us what Form they would have to file to delist even thou they aren't listed? Looks that way.:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174725361
Now you're saying that "OTC 100% does delete non reporting tickers like RSPI" and you're wrong about that, too.
FINRA deletes symbols and then they disappear form the OTCMarkets listings. (BTW, there is no such thing as a"bulletin board" anymore.) The SEC suspends and deregisters stocks.
Stop laughing your ass off and get your entities straight. No wonder these people are ignoring you.
The OTC doesn't delete tickers.
"All stakeholders retain their equity position if such a concept of going private made sense."
But with no means to liquidate their positions.
"The very fact that a reputable regulatory body such as CDSCO allowed us to enter into a clinical trial is indicative that the drug candidate was deemed to be sufficiently safe and effective for humans."
Didn't the FDA say "If it's good enough for Central Drugs Standard Control Organization (“CDSCO”), a regulatory body in India, it's good enough for us?"
I didn't think so.
SCOREBOARD! ------------------------------------------------->>>
The saying is "sound like a broken record".....a broken radio doesn't skip and repeat itself.
Just as some folks here and elsewhere focus on the science I focus on the finances. You can ignore the failure to file and the specious reasons for it at your peril.
Remember, as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don't know we don't know.
The truth will come out in the filings....if they ever issue them. Meanwhile, relying on the Rumsfeld theory of investing is all you can do. It ain't great.
"Maybe the remaining convertibles can now just be bought out with cash versus converted into shares."
If only they would produce a filing we'd know how much cash it would take to do that. I'll bet it's more than the $6,362 they had at last report.
"Yeah, that is illogical given they have found minor funding for such things easily in the past from CEO, BOD memebers, wherever, etc. Heck a handful of shareholders on this board could have easily funded the filings."
Your first sentence above is demonstrably true and you're obviously a pretty smart person. I've never been able to understand why such a person would risk their investment money on a management that they know is lying to them.
Can you explain it to me?
Both of these things can't be entirely true:
"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 a result, the Registrant is still in the process of preparing disclosures and accumulating validating information needed to complete the Annual Report. The Registrant intends to file a complete Annual Report as soon as practicable within the extension period of fifteen calendar days provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended."
https://www.sec.gov/Archives/edgar/data/849636/000149315224012350/formnt10-k.htm
"The SEC filings cannot be done until our auditors are independent. We owe them enough that they are not currently independent."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174687179
You're gonna need some gains to use that against. Which of your portfolio starlets qualify?
Leo's the one who is out of a job. And IPIX is out of money. Open your eyes.
Not out of line, just unnecessary. In the few minutes it 1)took you to ask it and 2)would have taken o_g to answer it you could have found the answer at its source....the court website.
I did just that and while I doubt that you'll 1)trust me or 2)confirm it yourself, the fact is that o_g quoted both docket items verbatim:
08/12/2024 #5 Motion of Appellant to extend date for filing brief and appendix filed for Innovation Pharmaceuticals Inc. by Attorney Daniel Dwyer.
08/13/2024 RE#5: Allowed to 08/21/2024. Notice sent.
That's all there is. There ain't no more.
Your question was half baked anyway ("No reason given?")
It's not clear whether you were asking for IPIX's reason for asking for the extension or the Courts reason for granting it.
Either way there was no reason given.
If there was a reason given you can bet that o_g would have provided it. If you're really concerned you can access the PUBLIC docket, a link to which was provided on these pages 2 months ago.
Too busy?
The SEC had some questions about last year's 10-K and the Qs and As have been posted to Edgar. Several go to the TheraCour relationship and the use of the terms "safe" and "effective" in that filing.
https://www.sec.gov/Archives/edgar/data/1379006/000000000024001724/filename1.pdf
https://www.sec.gov/Archives/edgar/data/1379006/000110465924045423/filename1.htm
https://www.sec.gov/Archives/edgar/data/1379006/000000000024004397/filename1.pdf
https://www.sec.gov/Archives/edgar/data/1379006/000110465924058925/filename1.htm
https://www.sec.gov/Archives/edgar/data/1379006/000000000024005448/filename1.pdf
Contract extensions aren't hard to get if you know the right people:
https://www.sec.gov/Archives/edgar/data/1379006/000110465924087828/0001104659-24-087828-index.htm
Butbutbut "Together, just the three viruses, Influenza, RSV, and COVID, account for over $8 Billion in estimated market size in 2024, growing to an estimated $12 Billion in three years, as calculated by us from various market reports.".
Cue Carl Sagan......
News??? Naaaa. Who would issue it?
Pressed rat and warthog have closed down their shop.
They didn't want to; 'twas all they had got.
Selling atonal apples, amplified heat,
And pressed rat's collection of doglegs and feet.
Sadly, they left, telling no one goodbye.
Pressed rat wore red jodhpurs, warthog a striped tie.
Between them, they carried a three-legged sack,
Went straight round the corner and never came back.
It may be a technicality to you but he wasn't hired by RSPI as you said he was. His Company was contracted to provide his services. There's a difference.
"I think the consultant with the VP title owns Ponto."
Wouldn't surprise me to find that Ponto is a one man show. The LLC address is the same as his home address and Clodfelter signed the latest Ponto fiiing with California as its CEO.
More importantly Ponto was formed by Clodfelter in 2013 and I haven't been able to find any companies for whom they were able to "drive business development". Do you know of any?
Probably reminds you of every other shady drug developer CEO on the planet. Can't swing a dead cat.........
He wasn't hired by the Company.
" Consultant’s duties will be such duties as are normally associated with the position of Senior Vice President of Business Development, working as an independent contractor and not as an employee"
"The monthly invoice will be paid in restricted Common Stock, cash or a pre-agreed combination of cash and Common Stock to Ponto unless assigned in accordance with the terms of the Consulting Agreement."
He work for Ponto, not RespireRx.
Was just about to say "Good Catch" and they dumped out of the Phase.
"The VP hire"
That's not what it was.
"The Global Antiviral Drugs Market is estimated to reach USD 74.75 Bn by 2028" and I'll bet NNVC will still be looking for its first dollar of that at that time.
Diwan loves those "Market X is expected to reach USD Y Bn by 20ZZ" lines. He's good for at least a couple of them a year.
"cash balance don’t matter at least for now"
Saw that coming.
"why u think they hired ATT…. It’s to fix that cash balance issue."
Gonna be hard for them to fix the $6,362 11/30/23 cash balance.
No worries Bro. Just like the 10-K. Who needs it?
That money isn't going anywhere near RSPI's Cash balance.
I never said I was surprised by "the low rev". No one should be.
I referred to the pittance of a cash balance. Its hard to do ANYTHING with 6,362 bucks. It's hard for a business to spend its way down that far
without hitting bottom.
Want to try to sell me on the idea that there are benefits to not having any cash?
"real progress in the approval of their drugs"
That's a pretty tricky assertion given that they haven't had any drugs approved. Or undertaken the clinical trials that are required to get that done.
Poor choice of terms.
All of these dilutive share payments and warrants representing promises to pay are things that shrink the value of a shareholders investment....they aren't things to tout.
You can't get blood from a stone....but you can get shares and warrants and plenty of promises.
Cash and cash equivalents $6,362
Pitiful.
The Company had $6,362 in Cash as of its latest filing. It HAD TO pay or promise to pay its obligations in something other than cash. All of these dilutive share payments and warrants representing promises to pay are things that shrink the value of a shareholders investment....they aren't things to brag about.
"There is December 8-k filing on VP getting shares as payment "
The agreement says he is to be paid on an hourly basis for up to 5 hours a month at an unspecified rate with payment to be made in restricted common shares.
"you see management/executives/insiders/institutional/debt holders all positioned with equity stakes here"
There's no evidence that he has earned shares or is holding a stake. And he's not one of these: "management/executives/insiders/institutional/debt holders". He's an independent contractor.
"8-k’s this year on BOD loan and warrant shares and institutional absorbing debt at 0% with .0015 conversion. "
The new Director received warrants as partial compensation (along with 10% interest) for his $100K loan. They have a cashless exercise feature....in other words he doesn't have to pay anything to exercise his warrants. That doesn't equate to "management/executives/insiders/institutional/debt holders all positioned with equity stakes".
Institutional absorbing debt? Someone described as an institutional investor took a conversion feature at $.015 and a 0% interest rate knowing that the Company couldn't pay cash interest.....the interest on the original notes ( interest at 10% and collateralized by the Company’s assets, $50,000 of which was convertible under certain circumstances) was never paid.
"Past 10-q shows CEO loaned money with warrants."
Warrants that expired on 9/30/23.
"Many entities moved to preferred shares requiring a payment event to unlock equity."
Again said entities took Preferred Shares that they could get in lieu of cash they were owed that they couldn't get.
If you believe these transactions represent the desire to own RespireRx equity I beg to differ.