RespireRx Pharmaceuticals Inc (fka RSPI)

[davidal66]

I think the company's technology would be worth more than 10 million dollars, especially split into it's component parts. I think it would be worth far more dead than alive. With the impending potential dilution to 210 million shares outstanding in two months, would any here know vote against a quick buyout on the cheap, say at, or above 40 cents a share?

Now, if the company can do something 'proactive' and actually ink a deal(or, better yet, two), that might be a proactive move. Say, ADHD, or euro-only ADHD, or high impacts, raising small amounts of money, say 5 to 10 million, that would be a proactive move to increase shareholder value. But the nagging question is this: if Cortex suddenly has 8-10 million in the bank(add another 2 million or so with warrants), then why the fierce urgency to dilute the share price! As Neuro postulated, at 75 cents or more, that is one thing, but, somehow, I doubt this is what Varney and company are planning.

And if the choices are so bleak financially. If Cortex, threw rook or by crook, has locked herself into a desperate financial picture, with a huge overhang of warrants at 34 cents a share, or the nature of the deals are so iffy and dicey, then is simply putting the company's assets up for auction really such a bad idea? Vote no.

I've tried to put my head around this share authorization issue, tried numerous ways to justify it, understand it, but, there appears no there there. It looks like an attempt to push the survival time out from the end of November to mid-year 2010. The mental justification seems to be, maybe the partnering opportunities will improve? maybe the secondary market will improve? maybe we can find a merger partner? or a zillionaire with deep pockets? or a foundation with millions to spend?

I'm not going to go down the road of looking at some vindictive motive(cash, salaries, job security) as I don't think this applies to Varney or Stoll or certainly the BOD. But this waiting for godot type of mentality, inhaling precious air for another three to six months, at the cost of massive dilution is not working. I think Varney and company should produce here and stick to the 30-45 day time frame. Let's extend that to the day of the vote for the share authorization.

But my strong vote on plan b is toe liquidate the patent estate now, to the highest bidder(s) and end this if plan a(partnership)fails.