RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

I always thought that with a shelf offering, the company could issue any portion of the amount authorized at any time, with the price for those shares being roughly correlated with the share price at that time. For example, the company could sell a portion now at/near the current low share price, and then say if the stock doubled in price at some later date, the company could then issue/sell more shares at that higher price. However, the Cortex document says that the price can never exceed $1.655 (?) Anyone out there understand how these shelf offerings work? Thanks.