Elite Pharmaceuticals Inc (ELTP)

[Dante Fantasia]

Honestly, IMO, .97 for the stock at the time was indeed overvalued--but on the same note, .23 is way undervalued. But such swings happen all the time in stockland, especially the OTC. I personally would attribute the run-up to the "Seeking Alpha" article, which is much more visible to investors than NH's statements. If I were to criticize NH, it would have been for being overly optimistic on his time lines, and per the price estimate, keeping the independent firm that did the evaluation a secret not the best move. But, that's all short term. At the same time, NH has been executing on all cylinders, has removed the ongoing concern (which was huge), taken shares in lieu of salary, and personally buying more, in addition to some of the board flipping warrants to common and not selling.

Right now, you have invested in a company where the upside is huge, but the bureaucratic process of the FDA is slow at best, and something NH can't control. He wouldn't be going full-steam ahead if the talks went sour...and since the FDA never "saw anything like it" (I read as the two-bead solution a very elegant method that no one has thought of before) so they need time to evaluate. Anyone expecting the FDA would simply give a green light after a one-day meeting right on the spot is fooling themselves, and simply impatient. Not a single thing has changed. And frankly, if I were one of those who bought (as an investment, not a quick flip) in at .90, .80, .70 etc., given the FDA lag I might be selling now too to take the tax loss, and buy back in a month--which is likely what we are seeing. Personally, I'm down right now, but not huge, nor sweating the drop--you either believe what the data say and in the product(s) and management, or you don't and shouldn't bother with this. With the ongoing concern behind us, so is the fear of waking up one morning to see a NR saying bk. Time is definitely on our side.

Anyway, this was a long-winded response, whose real underlying purpose was to wish all a very Happy Thanksgiving--and such wishes not deleted by being off-topic. Best wishes and Happy Holiday to all!

Maz