RespireRx Pharmaceuticals Inc. RSPI registered in a letter of intent with a Bespoke clinical research organization headquartered in Australia focused on clinical research on cannabinoids and psychedelics.

The LOI requires an Execution Target Date for a definitive contract that is 30 days after the date of the LOI, at which time RespireRx will be required to issue a $50,000 down payment applied to the final study budget and credited to the first invoice of the definitive contract. Under the final agreement, the CRO is expected to provide full-service CRO services, including regulatory, compliance and GMP manufacturing services in addition to Human Pharmacokinetics and Pivotal Studies on the efficacy and safety of dronabinol in humans for the treatment of obstructive sleep apnea.

Completion of this LOI is expected to be the first step in a series of transactions expected to include:

• Incorporation of an Australian subsidiary of RespireRx and all that is required for the incorporation process including but not limited to the establishment of a board of directors and the appointment of auditors. The subsidiary that is expected to be named ResolutionRx (or a similar name), is formed primarily to engage in the research and development activities that will be the subject of the final contract. In good faith, the Company intends to commence the establishment of the Australian subsidiary as soon as possible.

• Contribution or making available to the newly formed Australian Subsidiary certain Dronabinol assets and certain liabilities.

• agreement on the final budget for the scope of work in the final contract that is currently awaited about $17 millionbut which can change.

• Obtaining an independent appraisal of the assets contributed by the Company to the Subsidiary.

• Upon completion, which cannot be guaranteed, equity or equity-linked financing of up to 25% of the research and…