Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

2009 called. They want their warrants complaint back.


There have been no new warrants since 2009. All of the warrants were via 2009 Epic Strategic Alliance, which was lifeline funding. It saved the company, but it is one of the negative factors that drove this stock down to single digits and allowed so many of us buy substantial portions of the company. This is excellent DD- just unfortunate you did not come upon it five years sooner. Now the warrants are all gone. Epic distributed the last of theirs in 2015, and most of those went to directors with reporting responsibilities. There are a few million stragglers out there, including some like these that expire next month. Others expire later 2016 and some 2018.

As these stragglers come home to roost, it provides R&D $$ for Elite. And of course, the other thing that is coming home to roost from the 2009 Epic Alliance is 15% $$ of their recently-approved oxycodone ANDA. And we get that just for looking pretty, which we do.

Today's Form 4 by Carter Ward is interesting. I do not recall ever seeing him report warrants. His filings are usually stock & options. Dianne Will told me via telephone last year that she thought Carter was also a member of Epic, but I had never seen any evidence of it until today.