Replies to post #22175 on RespireRx Pharmaceuticals Inc (fka RSPI)

[Aiming4]

Thanks for your clarifications Dew. If Cortex decides to proceed with a registered direct offering, how much information do you think Cortex would have to provide to the prospective investors in regards to potential/expected timeframes for an RD deal, and the ballpark expected magnitude of an RD deal?

I'd think the investors would want to have a decent handle on the RD deal prospects before plunking down their cash, so I'm curious how much Cortex would likely be willing to share with them.

[gfp927z]

Thanks Dew. Good to have you around :o)

Looking back at the 10-K, the Jan '07 and Aug '07 financings were indeed both 'registered direct offerings', with gross proceeds of $5,084,000 from Jan '07 (plus $443,000 from the warrants), and $13,135,000 from Aug '07.

So of the $35 mil registered, $18,662,000 had been used up, with another $12,704,000 that potentially could be used up from the remaining warrants if they should be excercised (priced at $1.66 and $2.64). So increasing the number of registered (by $21 mil) makes sense, especially since, as you pointed out, the earlier registration expires in a year.

Thanks again Dew.