RespireRx Pharmaceuticals Inc (fka RSPI)

[gfp927z]

(continued) - So to raise more money, or to issue new shares for any purpose (a partnership deal that includes an equity stake for example), they will have to raise the authorized limit above the current 105 mil.

Alternately, they could do a reverse split, which would also free up space since the authorized share amount stays constant at 105 mil, while the shares outstanding would drop.

Varney needs to do one or the other though (raise the authorized share limit, or do a reverse split) prior to the SA results, since he may only have a narrow window in which to raise money while the pps is up. Both of these approaches require shareholder approval, so he needs to get moving. Of course if he's thinking only along the lines of selling/merging the company, in that case it might not matter. But better to have all options open as we move into the Fall.