Document:

Exhibit
10.39

 

 

October
30th, 2020

 

John
Keeler | Chairman / CEO

Blue
Star Foods Corp.

3000
NW 109th Ave, Doral, FL 33172

United
States

 

AMendment
No. 1 TO INVESTMENT BANKING Agreement

 

Dear
Mr. Keeler:

 

Reference
is made to that certain Investment Banking Agreement (“Original Agreement”) dated as of July 1st, 2020
by and between Newbridge Securities Corporation (“Newbridge”) and Blue Star Foods Corp. and its subsidiaries, affiliates,
beneficiaries, successors and assigns (collectively, the “Company”).

 

Pursuant
to this Amendment No. 1 to Investment Banking Agreement (“Amendment”), Newbridge and the Company will amend Section
2 of the Original Agreement as set forth below.

 

Section
2 of the Original Agreement is hereby deleted in its entirety and replaced with the following:

 

	2.	Term;
    Termination of Engagement.

 

The
term of this engagement shall be for twelve (12) months from the date of this Agreement (the “Term”. Nevertheless,
Newbridge’s engagement may be terminated by either the Company or Newbridge at any time upon 15 days written notice to that
effect to the other party. If the Company terminates this Agreement without Cause (as defined below), Newbridge shall be paid
its full Corporate Advisory Fee under Section 4. “Cause” means a material breach of this Agreement by Newbridge; which
breach shall not have been cured within a reasonable period following written notice of the breach to Newbridge by the Company.

 

The
provisions of this Section 2 and of Sections 5, 6 and 7 of this Agreement shall survive termination.

 

All
other provisions of the Original Agreement shall remain unchanged and shall continue in full force and effect.

 

Sincerely,

 

	Newbridge Securities Corporation	 
	 	 	 
	By:	/s/
    Robert Abrams	 
	 	Robert
    Abrams	 
	 	General
    Counsel & Chief Compliance Officer	 
	 	Managing
    Director, Investment Banking	 
	 	 	 
	Blue Star Foods Corp.	 
	 	 	 
	By:
    	/s/
    John Keeler	 
	Name: 	John
    Keeler	 
	Title:	Chairman
    / CEO	 

 

Investment
Advisory Services offered through Newbridge Financial Services Group, Inc. an SEC Registered Investment Advisor

1200
North Federal Highway, Suite 400, Boca Raton, FL 33432 | Telephone: 561.395.1220 Fax: 561.229.1531

www.newbridgesecurities.comExhibit
4.3

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE

SECURITIES
EXCHANGE ACT OF 1934

 

The
following is a general description of the common stock of RespireRx Pharmaceuticals Inc. (the “Company”) and does
not purport to be complete. For a complete description of the terms and provisions of the common stock, refer to the Company’s
Second Restated Certificate of Incorporation, as amended to date (the “Certificate of Incorporation”) and By-Laws
of the Company, as amended (the “Bylaws”), each of which is an exhibit incorporated by reference into the Annual Report
on Form 10-K of which this exhibit is a part. This summary is qualified in its entirety by reference to these documents.

 

Authorized
and Outstanding Capital Stock

 

The
Company is authorized to issue a total of 2,005,000,000 shares of capital stock, with a par value of $0.001 per share.
Of the authorized amount, 2,000,000,000 of the shares are designated as Common Stock and 5,000,000 of the shares
are designated as preferred stock.

 

As
of December 31, 2020, there were 71,271,095 shares of common stock issued and outstanding.

 

Description
of Common Stock

 

General. Each
share of the Company’s Common Stock has the same rights and privileges. Holders of the common stock do not have
any preferences or any preemptive, redemption, subscription, conversion or exchange rights. All outstanding shares of common
stock are fully paid and non-assessable. The Company’s Common Stock is quoted on the OTCQB, under
the symbol “RSPI.”

 

Voting
Rights. The holders of Common Stock are entitled to vote upon all matters submitted to a vote of stockholders and are
entitled to one vote for each share of Common Stock held. There is no cumulative voting.

 

Dividends.
The Company has never paid cash dividends on its Common Stock and does not anticipate paying such dividends in the
foreseeable future. The payment of dividends, if any, will be determined by the Board in light of conditions then existing and
may be paid on the Common Stock subject to the prior rights and preferences, if any, applicable to shares of preferred
stock or any series of preferred stock, when and if declared by the Board, out of funds legally available therefor.

 

Liquidation
and Distribution. If the Company voluntarily or involuntarily liquidates, dissolves or winds-up, or upon any distribution
of assets, the holders of Common Stock will be entitled to receive, after distribution in full of the preferential amounts,
if any, to be distributed to the holders of preferred stock or any series of preferred stock, all of the remaining assets available
for distribution equally and ratably in proportion to the number of shares of Common Stock held by them.

 

    	 

     

    

 

Material
Limitation or Qualification of Rights of Common Stock

 

Preferred
Stock, Generally. The Company may issue preferred stock with such powers, preferences, rights, qualifications, limitations,
and restrictions as the Board may, without prior stockholder approval, establish. The existence, and potential future issuance,
of shares of preferred stock by the Company could result in substantial dilution of the economic and governance rights of holders
of the Company’s common stock.

 

As
of December 31, 2020, the Company’s authorized shares of preferred stock are designated into series as follows: 3,000
shares of Series H 2% Voting, Non-Participating Convertible Preferred Stock, 37,500 shares as Series B Convertible Preferred
Stock (“Series B Preferred Stock”), 1,700 shares as Series G 1.5% Convertible Preferred Stock (“Series G Preferred
Stock”), 1,250,000 shares as 9% Cumulative Convertible Preferred Stock (“9% Preferred Stock”), 205,000 shares
as Series A Junior Participating Preferred Stock (“Series A Preferred Stock”), and 3,505,800 shares are undesignated
and may be issued with such rights and powers as the Board may designate.

 

Series H Preferred Stock. As
of December 31, 2020, there were no shares of Series H Preferred Stock are issued and outstanding or accrued as dividends as all
outstanding shares of Series H Preferred Stock inclusive of accrued dividends converted into units that resulted in the issuance
of 25,377,426 shares of Common Stock and warrants to purchase 25,377,426 shares of Common Stock. Each share of Series H Preferred
Stock is convertible into 15,625 units at an effective conversion price of $0.064 per unit, with each unit comprising one share
of Common Stock and one warrant exercisable for one share of Common Stock. Each share of Series H Preferred Stock entitles the
holder to that number of votes equal to two times the number of shares of Common Stock into which it is convertible. In the event
of any liquidation or winding up of the Company prior to and in preference to any junior securities, the holders of the Series
H Preferred Stock will be entitled to receive in preference to the holders of any junior securities a per share amount equal to
the $0.001, plus any accrued and unpaid dividends.

 

Series
B Preferred Stock. As of December 31, 2020, 37,500 shares of Series B Preferred Stock are issued and outstanding. Each
share of Series B Preferred Stock is convertible into approximately 0.000030 shares of common stock at an effective conversion
price of $22,083.75 per share of common stock, which is subject to adjustment under certain circumstances. As of December
31, 2020, the shares of Series B Preferred Stock outstanding are convertible into 1 share of Common Stock.
Shares of Series B Preferred Stock do not entitle the holder to voting rights. The Company may redeem the Series B Preferred Stock
for $25,001, equivalent to $0.6667 per share, an amount equal to the liquidation preference, at any time upon 30 days prior notice.

 

Series
G Preferred Stock. As of December 31, 2020, no shares of Series G Preferred Stock are issued and outstanding. If issued,
each share of Series G Preferred Stock is convertible into that number of shares of Common Stock determined by dividing
$1,000 by an initial conversion price of $0.033. The conversion price with respect to a share of Series G Preferred Stock is subject
to adjustment upon certain events that occur while such share is outstanding, pursuant to Section 7 of the Certificate of Designation
for the Series G Preferred Stock (see Exhibit 3.7 to the Company’s Annual Report on Form 10-K of which this exhibit is a
part). As of December 31, 2020, the conversion price with respect to Series G Preferred Stock is not subject to adjustment
because no shares of Series G Preferred Stock are outstanding. If issued, each outstanding share of Series G Preferred Stock,
prior to the date such share is eligible for conversion, entitles the holder to 30,303 votes per share (which may be subject
to adjustment as described above), and thereafter, each share entitles the holder to voting rights on an as-converted basis.

 

    	 

     

    

 

9%
Preferred Stock. As of December 31, 2020, no shares of 9% Preferred Stock are issued and outstanding. If issued, each
share of 9% Preferred Stock is convertible into shares of common stock according to a conversion rate subject to adjustment upon
the occurrence of certain events, including a reverse stock split, as set forth under the Certificate of Incorporation (see Exhibit
3.1 to the Company’s Annual Report on Form 10-K of which this exhibit is a part). Thereunder, each share of 9% Preferred
Stock is convertible into that number of shares of common stock determined by dividing $1.00 by a conversion rate of $1.50, subject
to adjustment pursuant to the reverse stock splits effected by the Company on September 1, 2016 and January 5, 2021,
whereby, on September 1, 2016 each 325 shares of Common Stock was exchanged and combined into one share of Common
Stock and on January 5, 2021, each 10 shares of Common Stock was exchanged and combined into one share of Common
Stock.  Shares of 9% Preferred Stock do not entitle the holder to voting rights.

 

Series
A Preferred Stock. As of December 31, 2020, no shares of Series A Preferred Stock are issued and outstanding. Shares
of Series A Preferred Stock do not entitle the holder to voting rights, except to the extent the holder would be entitled to vote
with the holders of Common Stock as set forth in the Certificate of Designation for the Series A Preferred Stock
(see Exhibit 3.1 to the Company’s Annual Report on Form 10-K of which this exhibit is a part).

 

Anti-Takeover
Provisions in the Certificate of Incorporation and Bylaws

 

Certain
provisions of our Certificate of Incorporation and Bylaws summarized below may delay, defer or prevent a tender offer or
takeover attempt, including attempts that might result in a premium over the market price for the Company’s securities.

 

Our Certificate of Incorporation and
Bylaws provide: (i) that the Company may issue preferred stock with such powers, preferences, rights, qualifications, limitations,
and restrictions as the Board may, without prior stockholder approval, establish, as described above; and (ii) that special meetings
of stockholders may only be called by the chairman of the Board, the president, the secretary, a majority of the members of the
Board or the holders of a majority of the shares of Common Stock then outstanding.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]