RespireRx Pharmaceuticals Inc (fka RSPI)

[gfp927z]

Jerry, Yes, BAM has a 4.99% limit on the number of common shares they can own at any one time. So they exercise some convertible preferred, feed it into the market, exercise some more, etc. This keeps them under 4.99%, as stipulated in the financing agreement.

I figure that after today, BAM will be down to just under $3 mil shares left from the July financing (assuming that approx 60% of the volume on the sell side has been coming from BAM over the past week).