Replies to post #31906 on 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.

[gfp927z]

Bladerunner, There is a minimum floor of .10 on which the conversion is based, so it isn't floorless. It's a sliding conversion with a .10 floor.

We don't know the exact conversion relationship yet for the worst case .10 conversion (the conversion being only 'based upon' .10, but not necessarily a 1:1 relationship with .10). But it isn't floorless.

So Wallstarb is a meathead (just kidding) :o)