Elite Pharmaceuticals Inc (ELTP)

[Mocha Jet]

Nasrat dispels rumors that he's employed on a 3 year contract with ELTP:

Question:

Nasrat, my question is, I know you signed on for a three-year contract. Are you looking to stay on longer?

Answer:

Nasrat Hakim - President and Chief Executive Officer
I’m not sure who started that rumor, but I've heard it before. So I went ahead and looked at my contract and it doesn't say three years anywhere in it. So, I’m here as long as Elite needs me and as long as I’m having fun and bringing stockholder value. Since I've taken over a year ago the stock has increased by about 400%, 500%. We’re introducing new product to the market. As long as good stuff is happening I’m here. If a huge company end up paying the right price for Elite, I’m very open-minded. And they buy us tomorrow, I retire tomorrow. So definitely I could be here for the next five, 10 years and well that’s not going to happen tomorrow, but I could be out sooner than three years.