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Can’t he , Nasrat, just expire the pill earlier. He controls voting
Zero retail interest in this stock says it all. That being said, when the poison pill expires, assuming NH doesn't renew (fingers crossed), a buyout for 200-350 million is possible. Thirty cents.
This why we all want Nasrat to sell the company. 15 cents and we’re out. Everyone needs to demand this of Nasrat
Nasrat
Just get us the 15 cents already. Geez. How hard can it be to get to a price that Elite traded at when you were losing money.
They have an investor relations department ? Who, the lady that records the voice mail messages? Wow
Nasrat - are you reading these posts. Shareholders want a new CEO
I would agree that Elite needs more people buying their shares. But please explain why shares for sale lower than the existing bid sat untouched and then were bypassed before settling at a different level. Then, when I pulled the offer, the share price went above where I had made the offer.
LOL. No, I mean R&D on products that come to market and turn a profit! Not one following the pattern of generic Percocet and others (most recently Vigabatrin).
You mean R and D on “pipeline products that never gain market share and then sold off for pennies on a dollar like everything else….
Good idea
Market manipulation for a stock that has traded an average of $10,000 a day in dollar volume is a inane hypothesis. Average daily volume for the past 2 weeks has been around 300,000 shares a day. If a real buyer, not a spoofer, comes in and wants to accumulate a few million shares, this stock will soar.
The real conundrum is what it will take to generate buying interest in this low volume stock. Often a stock will suddenly move prior to a major announcement or it may be as simple as an employee telling a few of his or her friends or relatives that the company cannot manufacture enough product to keep up with the demand.
The fact that this company has piss poor Investor Relations and lacks the ability to hype any news under the guise of the need to keep confidential information from competitors is absurd and not helpful.
My guess is that is correct and the number may be MUCH higher !!!!!!!!!!!
IB_
My guess is he has 400 Million shares 9 this includes MIKAH). Just a guess
We need to start punishing the criminals
Of course. The MMs set the price but then play with it. The idea is to set a fair price and let the trades affect the price up or down. That ain't happening...
I may be wrong on this but I do not believe so .... I think at 90% ownership of a public company, the 90% can squeeze out the remaining 10% at the current share price or possibly a very small premium ......... I would love to know exactly how many shares NasRat controls in total !!!!!!!!!!!!!!!!!!!!!!!!!!! There has got to be a reason he is soaking up more shares rather than not diluting and most likely selling the company at some point for more per share than when it is fully diluted .....................
IB_
Elite is being manipulated and Nasrat should drop the hammer.
Your being played, they want you to sell cheep, (sucker,))) they want to take your ,
shares way from you, so they can sell another day for much more
Not that simple...I dropped if for them...lower than what was supposedly the basement. My offer remained for some time and the price remained above mine. Go figure. Finally, it dropped right passed me to a lower price. If keeping my offer in place, the price never went up. But when I removed my offer, up went the price.
So, what is the diagnosis?
I think he’s right but thanks though
Elite never had first string market makers. Third string at best, only those who could not make in the big time.
The savvy ELTP MMs have left the house. Only a few left hodling the bag as financials get better.
Point taken.
I am not saying it was or was not spoofing, just that the article engaged me and that is why I thought I would see if my bait was taken. I even provided a cascading set of offers. As for doing what LP has done - smart move - but I think the other folks are running with a different crowd than Nasrat.
You make a reasonable argument. I still think R&D is better use of the money. Changing the CEO’s compensation package would certainly help the share price. I agree he is incentivized to keep the price down. At some point he will want to cash out, changing the incentive. I certainly don’t know when.
I can understand choosing to continue putting everything toward R&D but look where that has got us. The company has increased revenue hand over fist for years now, while the share price has fallen and/or flatlined here in the $0.03's for years. $500,000.00 dollars to buy back shares would show support for the stock, could cause new investors to take interest and if the CEO is correct, it would be a great buy on a stock that he claims to be undervalued ....... BUT if any of us here were getting $500,000.00 worth of stock every year, would we really want the share price higher ?????? Buyers want to buy low !!!! The CEO is getting shares from the shares he MADE UP back when shareholders approved for him to do just that, MAKE UP MORE SHARES ..... Think about where the share price would be if the CEO had not MADE UP all those extra shares above and beyond what was needed to implement his "conversion" and Elite was buying $500,000.00 per year from the FLOAT and giving them to the CEO as part of his compensation ?????? The way it happens now only continues to dilute the shares at about 14 Million+ shares per year ..................
We beat this dead horse daily here, but we never prosper,
IB_
Was there any volume at all between the time you placed your order and the drop in the bid?
Thanks for confirming there are so many fake buyers of ELTP shares
My apologies for insisting ELTP wasnt being manipulated. Apparently it was by those who placed fake bids to prop the price up
Now we need to find out who was behind this alleged crime to manipulate ELTP shares higher.. The motivation? What does the CEO know about this?
I don't like the idea of a buyback. The money is better spent on R&D. Your comment about lack of demand, is spot on though.
"I then put up shares for sale LOWER than the bid price. But there were no takers and, after a short time, the bid price dropped lower than my offer."
Finally there is proof that no one is interested in this stock !!!!!!!!!!!!!!!!!!!!!!!!!!!
A stock never moves without demand and this just proved that there is no buyers for ELTP .................................
"IF" Elite's distribution arm is a success, a share buyback should be implemented immediately !!!!!!!!!!!!!!!!!!!!!!
IB_
nice try, but I sold over 50,000 share by just offering at bid.. so sorry not buying it. but nice try.
My ELTP Market Maker friends have moved on.
ELTP is turning north soon.
https://ih.advfn.com/stock-market/USOTC/northwest-biotherapeutics-qb-NWBO/stock-news/89683761/northwest-bio-accuses-market-makers-of-share-price
If ?? Why the interest in Elite ?
simple, they know you want to sell, retail, Jonse"n, so they keep dropping the price hoping to get more of your shares at a lower price
Can you provide some insight into why elite should be used to fund based on its performance over the past nine years. Thanks
So you are saying spoofing is the reason for this also like NWBO. In that case NH should do what LP did or join them IMO.
So whats being suggested is all the bidders (buyers) are phony because the sales never executed.
If I was an Elite shareholder, this would make me pretty nervous
Further, this also suggests that the alleged manipulation was being implemented to prop up the share price with fake bids
Thanks a lot
I thought I would try a little test after reading the following article...https://www.fxcm.com/markets/insights/what-is-spoofing/
While having no real interest in selling my ELTP shares, I wanted to test my hypothesis and have done so over the past three days. Here is what happened...
I put a block of shares up for sale at the bid price, only to have the price drop lower. I then put up shares for sale LOWER than the bid price. But there were no takers and, after a short time, the bid price dropped lower than my offer. I did this over the three days and on each occasion both the bid price and the share price always dropped lower than what I offered for sale. How is it that each time I offered a block for sale lower than the bid price both the bid price and share price dropped?
Tell me again how there is no evidence of manipulation!
Fund your 2022 IRAs till April 2023.
Fund your 2023 IRAs starting Jan 1 2023
ELTP $$$$$
Low . It was a pretty good call.
$300k for sale…. Pts will bring is to breakeven or less. The Rat and Chan are investment geniuses.
This is the POS Express!
There will be riots at Elite headquarters if he doesn't PR the launch.
Good one!!! :D
If you fell asleep I feel bad for you or maybe you’re lucky….. the experience hasn’t been boring while it’s tested everyone’s stomachs. Your line got caught in weeds, stuck in some rocks, there was hope when the salmon were making their way up the river, you had one on line but a grizzly got ahold of it and ate it, it snowed on you, sun came out with the promise of warmer temps, but well up the MTN it poured and you got caught in the flash flood. Fortunately you woke up and you still have a pole to fish with, so hanging onto some hope as we’re not dead
What a boring stock
Its like sitting on a chair and throwing your fishing line into the river, then falling asleep and waking up 9 years later still without a bite
I’m still buying shares too, lmao
I wonder if Elite will announce the Pyros launch of Vigabatrin. The drug is very expensive and the income from the manufacture should be substantial.
I think Nasrat has made good moves. My frustration is simply with the stock price. My 3 million shares need to go up at some point in value.
Back in the .02’s today.
Elite picks partners like a degenerate gambler picks horses at a track.
Then they throw the newspaper at the tv and say why does this always happen to me!
All here at the POS Express.
Going to be a very unimpressive day for Unelite!
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Moderators jimr1717 mrwrn2010 NASDAQ2020 IB_ namtae Dr JoeBarducci |
Elite needs a Board of Directors that represents all shareholders !!!
Senior Moderator: IB_
Posted: 6/5/23
________________________________________________________________________________________________________________
Elite Pharmaceuticals, Inc. |
Website | Location | Employees | Facility | CEO |
www.elitepharma.com | Northvale, New Jersey | 53 | 55,000 sq ft | Nasrat Hakim |
Products & Pipeline | ||||
Drug | Market Size | Status | Competitors | Marketed By |
Adderall IR | 389.8 M | On Market | 15 | Elite |
Adderall XR | 1.56 B | On Market | 10 | Elite & Prasco |
Dantrolene | 6.3 M | On Market | 2 | Elite |
Isradipine | 5.5 M | On Market | 1 | Elite |
Loxapine | 5 M | On Market | 2 | Elite |
Phendimetrazine | 4.5 M | On Market | 4 | Elite |
Trimipramine | 2 M | On Market | 1 | Elite |
Naltrexone | 16 M | On Market | 5 | Precision Dose |
Phentermine Capsules | 7.5 M | On Market | 6 | Precision Dose |
Phentermine Tablets | 40 M | On Market | 8 | Precision Dose |
Vigabatrin | 233.7 M | On Market | 13 | Pyros |
Doxycycline | 85 M | Approved (Discontinued) | 9 | ---------- |
Tylenol with Codeine | 45 M | Approved (On Hold - Opioid) | 5 | ---------- |
Dopamine Agonist | 12 M | Filed with FDA - 22 Dec 2022 | ---------- | ---------- |
Antimetabolite | 42 M | Filed with FDA - 20 Apr 2023 | ---------- | ---------- |
Generic OxyContin | 720 M | Filed with FDA - 17 Aug 2023 | ---------- | ---------- |
Generic Vyvanse | 5.1 B | Filed with FDA - 21 Dec 2023 | 14 | ---------- |
Generic Concerta | 1.16 B | In Development (Final Stages) | 9 | ---------- |
Financials | ||||
Fiscal Year | Revenue | Change | Net Income | Change |
2019 | 7,568,508 | ---------- | (9,279,321) | ---------- |
2020 | 17,994,639 | +137.76% | (2,240,351) | +75.86% |
2021 | 25,380,749 | +41.05% | 5,088,421 | +327.13% |
2022 | 32,262,117 | +27.11% | 8,898,245 | +74.87% |
2023 | 34,155,114 | +5.87% | 3,561,846 | -59.97% |
2024 Q1 | 8,980,076 | +17.04% | 1,141,809 | +273.28% |
2024 Q2 | 14,157,185 | +64.90% | 14,934,601 | +866.0% |
2024 Q3 | 15,538,800 | +68.00% | 3,500,000 | +80.0% |
FY 2024 Projected | Minimum Projected: 50,000,000 | Minimum YOY Projected Increase of 68.31% | ||
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