LTListener
1 day ago
Yeah, no reason to be in a hurry with long term shares...
Obviously we are starved for information and updates, which hopefully are coming soon. This will all help to reasonably project what is possible and or likely to occur in the coming 3-6 months and next few years.
Everyone has an opinion on value and different investment goals, all I know is there is a massive gap between current valuation of 1-2 million, essentially peanuts... versus plausible valuation/speculative value which considering the pharma industry, comparable asset progression in other companies and all the ingredients here, could easily be 100 million range entering multiple clinical efforts. Somewhere in the middle should be a sustainable goal for all companies. (i.e not severely undervalued which limits building anything and not way overvalued which is problematic in other ways.) Longer term clinical success will dictate whether any of these assets become breakthrough level and command levels of ROI and value we can currently only dream about.
LTListener
2 days ago
Who knows but the volume is still very very small. If you are retail, I think you have to find an account in Canada, otherwise it is likely brokers or certain "sophisticated" investors scooping up scraps or settling out positions.
Hopefully we will get more detail in some update or PR, but the reality is simple. The amapkine platform is heading into a key clinical trial and the gabakine candidate has a superior preclinical profile heading towards human trials. Timing of such trials is an unknown. As the company works to collect institutional investment, lock in partnerships or deals (all of which they have been stating for years and prepping their assets for)... AND as they logically are hopefully making moves to get off the EM, I think investors are catching on and looking for options to be a part of these assets heading into clinicals.
Even if they had to double the OS shares to account for all conversions, warrants, debt, etc. That would only be a 4 million market cap today! Peanuts. Pharma's with this level of assets can easily trade 10-50x this level while clinicals are ongoing and with any clinical success unlocking significantly more value. But my position is long, so maybe a different perspective than many speculative investors.
loanranger
2 days ago
"Yes, SEC-registered companies (public companies) are required to have a majority of independent (outside) directors on their boards."
Not so. That's an exchange requirement (NYSE, AMEX, NASDAQ), not a public/SEC registered company requirement. RSPI is an SEC registered public company and it hasn't had a majority of independent Directors in some time, if ever.
Obviously it isn't just the website that needs updating. The answer to my question should have been in the latest 10-K had they filed it.
Maybe if Jeff tells you more about the board meeting after it occurs you could ask him who is on the Board. Or, in case he's reading this board, maybe he can just tell you.
bigtalan
2 days ago
Yes strange that others have been named , but not on website but as others have stated an updated webpage is needed. I think they are adding outside members for SEC rules
Yes, SEC-registered companies (public companies) are required to have a majority of independent (outside) directors on their boards. This is a key aspect of corporate governance and is mandated by stock exchange rules like those of the New York Stock Exchange and Nasdaq.
Further Clarification:
Independent Directors:
These are board members who are not employees, officers, or otherwise materially affiliated with the company. They are meant to provide an unbiased perspective and protect the interests of shareholders.
SEC Requirements:
While not explicitly stated in the SEC's regulations, the stock exchange listing requirements, which SEC-registered companies must adhere to, mandate a majority of independent directors.
Importance of Independence:
Independent directors are crucial for maintaining good corporate governance, preventing conflicts of interest, and ensuring that the board can make objective decisions in the best interests of the company and its shareholders.
Examples:
Both the New York Stock Exchange and Nasdaq require a majority of independent directors on their listed companies' boards.
Key Committees:
Independent directors are also often required to make up the majority of crucial board committees, such as the audit committee and compensation committee.
In essence, while a company can have inside directors (employees or executives), the majority of the board must be comprised of outside, independent individuals to ensure a strong corporate governance structure.
loanranger
2 days ago
Thanks. I had seen that and it's one of the reasons I asked. It differs from other sources:
Board of Directors
Arnold S. Lippa Chairman, CSO, Interim CEO
Kathryn MacFarlane
Jeff E. Margolis
https://www.otcmarkets.com/stock/RSPI/profile
"As discussed in more detail below, on January 18, 2024, the Board of Directors (the βBoardβ) of RespireRx Pharmaceuticals Inc. (the βCompanyβ) appointed a new director, Dariusz Nasiek to the Board who is considered to be an outside director."
https://www.sec.gov/ix?doc=/Archives/edgar/data/849636/000149315224003131/form8-k.htm
"Joseph Siegelbaum 75 2023 Director of the Company and retired partner of the law firm, Goodwin Procter LLP"
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000849636/000149315223012542/form10-k.htm