Replies to post #30052 on RespireRx Pharmaceuticals Inc (RSPI)

[davidal66]

"You are entirely misunderstanding the sentiment expressed. I believe MV is indicating that by having the ability to raise capital (regardless of the terms) by having shares available to sell means a company's back is not completely against the wall. That ability to raise shares gives Cortex some leverage in negotiating a deal."

I think I understand the sentiment expressed. I just strongly fail to see how the ability to dilute yourself to 200 million shares, regardless of the terms, at nickel a share(or dime)or even 20 cents, shows/means the company's back is not completely against the wall.

True the company would have to wind down after the shareholder meeting. The question is this: would a sale of the company provide a more painless way for existing shareholders, even providing a small to medium sized premium over 20 cents than diluting the company down under 10 cents for providing that extra six months of "shelf life" so the company can provide suitors they have a bit more time.

To somebody who really wants to partner with Cortex(the type of company who should ink a deal in the next 30-45 days) perhaps, just perhaps, extending the cash cushion by six more months might lead them to finish the lawyer checks, rounding up the CFO's signature, whatever. But, even then I do not think it is worth it.

The simple truth is Cortex 'is' out of options, or should be. If Cortex cannot pull a subpar deal out of the hat by the shareholder meeting, what would another six months of cash provide? Now, if one needed to wait for some earth shattering ADHD clinical results, ok, then waiting and gambling might be worth it, but I do not believe Varney is offering anything that warrants authorizing additional shares.

I hope to be proved wrong. I hope a deal to allow Cortex to move forward, developing their technology, perhaps two can be inked in the next three weeks. I hope that some surprising results come out in sleep apnea, showing great viability and this might make it 'worth' diluting the company, raising money to allow a fine sleep apnea deal. But without any production by management, sell the company makes the most sense to me.

[Market_Fest4]

Emerald,
What you fail to consider is that about a year ago, COR had 50M shares authorized and needed to double the shares to 100M. This was packaged as being necessary to give them some leverage against a forced (bad) deal.

We gave them the benefit of the doubt. They issued the shares. Ran a pathetic SA trial. Issued some PIPEs on horrendous terms. No deal ever surfaced.

Fast forward a year to the present. We have the same scenario unfolding. Lather, rinse, repeat. How many times will I let them pull the same scam on me? NO MORE!!!!

You had your chance. Get the IP into stronger hands. NOW!

To make matters worse, COR doesn't ever "sell" the story. Get the investors (bagholders) jazzed about the future. Management never communicates its plans by a PR, they choose to do it via emails that can't be proven to be from CORTEX (officially).

For those of you intent on waiting until the last possible minute to vote against this by computer, you should verify when the last date they will accept your computer vote is.
MF4