RespireRx Pharmaceuticals Inc (fka RSPI)

[enemem]

the note immediately before the one you brought back (from one Biomaven)isn't quite as pessimistic:

greater of market price per share at closing or a 15% discount to the market price of the common stock at the conversion date



If I'm reading their language correctly this is not a floorless convertible. So not a terrible deal, although it's very little money.

Even if this one has a floor, the floor is only going to drop on subsequent financings. They need to get something done, soon.