I submitted this Query to Cortex New Management. Haven't heard back.
Jeff Margolis
Vice-president,
Cortex Pharmaceuticals Inc.
126 Valley Road, Suite C
Glen Rock, New Jersey 07452
(917) 834-7206
jmargolis@cortexpharm.com
11/12/2013
Jeff,
I began investing in Cortex about a decade ago at the behest of my then stock broker, XXXXXXX, formerly of XXXXXXXXX here in XXXXX, Virginia. Although we both had experience in biotech investing, we hadn't previously considered the Neurological Pharma business as an avenue. We carried on a phone and email correspondence for many years with Dr. Stoll, and later Mark Varney. Based on their credentials and the novel action of ampakines my stock broker carved out a large position both with clients and personally. While my position was tiny, most of which I liquidated several years ago, I've held a small amount of several hundred thousand shares for no reason in particular other than in deference to my broker, whose love affair with Cortex has essentially cost him everything.
I was curious as to how your efforts in whittling down the debt run up by your predecessors might be progressing. It seems that if those issues could be put to rest, a new approach to the commercialization of ampakines might be pursued. The reason for my renewed concern about the fate of our technology is that my father lost his three year battle with Dementia on September the 11th of this year. Despite our family's medical background (Dentistry and Neurosurgery), it seemed no treatment could even slow down the progress of his decline.
Perhaps the future of this technology lies as a dietary supplement, thus avoiding the pit dug by previous managements attempts to gain FDA approval, and the non-interest of Big Pharma in our platform.
I'm sure you are exploring all options at this juncture, but would appreciate any update you might consider providing me that wouldn't alarm your legal department.
Sincerely,
XXXXXXXXXXXXX
