RespireRx Pharmaceuticals Inc (fka RSPI)

[DewDiligence]

A Yes vote on the increase in authorized shares is a fait accompli, in my opinion.

The waiting period between the SEC PRE14A filing (Oct 2) and the record date for the shareholder vote (Oct 19) works strongly in management’s favor. During these 2.5 weeks, some shareholders who are worried about the prospect of a Yes vote will simply sell and move on; meanwhile, the investors who buy their shares are likely to favor management’s proposal. Thus, as the record date for the shareholder vote gets nearer, the proportion of shareholders who oppose management’s proposal will continue to decline.

Anyone who is long and intends to hold might as well get used to the idea that the authorized-share limit is going to increase substantially.