RespireRx Pharmaceuticals Inc (RSPI)

[gfp927z]

Emerald, I emailed him today, so we'll see if we get a response. Day 45 would be approx October 25, but with pharma negotiations there are numerous variables, so it wouldn't be surprising if the timeline slips some.

The vote to raise the share limit is Nov 23. If Varney thinks the vote could go against him without a deal in place, then that could provide more motivation to get it done. I think BAM is essentially out of the stock from the financing shares (or nearly so), but they still have 6.9 mil in warrants which are now exercisable (at .34), plus another 6 mil which remain locked up until January. There are also approx 8 mil heavily underwater warrants from previous financings (priced at $3.00, $1.66, and $2.64).

I'm not sure what the voting rights are for unexercised warrants however. If the warrant holders can cast a vote on the share limit increase, then that could be another factor in motivating the completion of the pharma deal prior to Nov 23 (though perhaps those holding the heavily underwater warrants would favor the limit increase, where perhaps BAM would be less favorable to the increase?). Or perhaps warrant holders have no voting rights, I'm not sure.

The buyer(s) of the 20 mil BAM shares (whoever they were), plus the retail investors, will hold the trump card when it comes to raising the share limit.

I'm sure Varney, Stoll, and Coleman are doing their best to get a pharma deal done ASAP, or absent that, a buyout/MA deal.