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Maxim Group was fined $800,000 on 9/29/23 for failing to monitor suspicious trading in otc securities. Welcome aboard.
MAXM added as a MM but my count is 12. The last time a new MM appeared the volume and price increased dramatically. Just sayin.
Mama don't take my kodachrome away!
A PE of around 30 for eltp would be a five bagger from current price or .65-.70 per share.
Current market cap is $134M. If the revenue stream rises to $20M per quarter, $80m per year, which is not unrealistic, a market cap of $675M seems just about right for a buyout of .65 per share. Just one guys opinion.
OMG. What will happen to the goats when the fuse is lit? Kaboom!!!
Do you think this event will have any effect on the pending standard of care application in the UK?
A clue to future price movement may be found in a review of the Historical Prices and Summary provided by IH. The average daily volume has decreased from 1.3 M to approximately .5 M over the last 6 months. Yesterdays volume of 1.3 million may be a harbinger of future volume increase bolstered by new interest in this company and stock. We shall see. GLTA.
Suppose you were recently hired by ELTP to work in the new warehouse that has recently been inspected by the FDA to assure it was kosher and halal. At lunch you discuss with fellow workers how busy the facility has been.
You tell your family that this is a growing public company that seems to be expanding and has added another shift.
You look up the stock price and see it is selling only for 14 cents and has a PE ratio around 6 and shows increasing quarterly revenues. Plus they have recently authorized shares to be issued to employees. Uncle Joe says this looks like a great company to invest in.
My point: Strong buy at these ridiculously low prices.
Would not be surprised to see a bit of news released regarding the R&D that is in the works. Highest volume today in weeks. Breaking above the 50 day Moving average of .1413.
Investor has to be crazy patient or a crazy patient. What a difference an A makes. Not sure which I am yet. but then again catch 22.
If quarterly revenues average $18-20M, a fiscal year projection of $76-80M before any approvals of the current pending ANDAs, it will be hard to maintain a price below .45-50 per share in my opinion. Many will be doing the shuuda, cudda , wuddas if that projection is correct. But then again, we may be up the creek without a Kayak to mix a metaphor.
What do you predict the stock price will be if the company does show $18-20M in revenue for the 4th quarter? Do you think it will stay in the .11-.13 range until the earnings are announced at the end of June some 7 weeks from now?
Hmm. I wonder if the stock will be .13 when the company announces a record quarter and record year in June. The people playing the long game should be happy to take advantage of the MMs who try to suppress the price.
Someone just beat me to the punch. Congrats. CDEL and ETRF unsuccessful since we know what we have. My guess is that the Emperor has some new clothes.
Let's hope the FDA picks Contin!
I thought the Gap was out of business. I guess we fell into the gap.
Look like the correction is over based on Level 2 activity.
You went out on a limb with that remark.
With volume running at yearly lows, it is easy for MMs to manipulate the price when anyone with a seven figure position who needs to sell for a variety of reasons unrelated to stock fundamentals( ie. a margin call on a marginable security), the MMs will walk down the price until a solid buyer steps in to take advantage of the sale price.
ON the otc low volume almost always translates to a price decline. The good news is that when a big buyer steps in, often on a positive news event such as an earnings report, the stock movement is often explosive to the upside. This will generate a lot of shudda coulda woudas among the faithful.
New MM came on today. ARCA
I guess I have to switch to candlestick pattern to see if I have hammer. If so I'd hammer in the morning. Now if I had a bell. I'd ring out danger.
Gap schmap. Someone wanted to sell for .13 cents. Be patient and you may be able to steal more cheapies. Total volume Mon- Thurs only 832k shares, less than 1/2 the daily volume last month. Smart players sitting on the sideline. For all we know the seller may have had a margin call and needed the cash to meet it.
Here' the good news after a little more research since 210 M seemed pretty cheap for a major drug company.
The Evanstad family has privately held Upsher since 1919. On 4/28 17 they sold the Generic Pharmaceutical business for 1.05 Billion !! to Sawai Pharma who bought the balance this year.
Congratulations to the Chairman Ken Evenstad and his son and CEO Mark Evensted for banking a cool billion. I hope your family has used the wealth wisely.
A 1 billion market cap for elite sounds about right before the 3 needle movers kick in. That translates to around .70 a share for Elite holders.
Upsher-Smith has 550 employees (10 times Elite's staff) its revenue per employees as $763.000Its peak revenue was $420 Million in 2023 ( 9-10 times elite's expected 2023 revenues to be announced in June).
They manufacture more than 59 drugs in the US and apparently also manufacture for Europe and Asia since they were bought by Sawai Group Holdings.
Pyros was in a trademark dispute over the Vigapoder name which was not resolved until January 24, 2024 when Upsher decided to not dispute the trademark name which was similar to their product Vigadrone. Coincidentally that was around the same time they were bought out by Bora.
They could not launch and use the name until that was decided.
Nasrat may have been more upset that he sold the product for a song worth less than the cost for the R&D and filing. Elite was probably desperate at the time as was Sungen when they had to sell their rights to Adderall to MIkah for a steal due to serious financial hardship.
That being said, Pyros may extend the manufacturing contract before it expires.
Elite sold its rights to its approved Vigabatrin powder and executed a contract with Pyros for the manufacturing and packaging of the product for commercial sale for a three year period. Consequently that supply and packaging agreement ends in November 2025. See 8k filed 11/28/22.
Elite has a current Market cap of 142M with a .14 cent price. Upsher-Smith a Corporation in business since 1919 was sold for a total of $210 M. Obviously I am not saying Vigabatrin is worth $210.
Upsher -Smith the competitor for the Vigabatrin anda was bought by Bora Pharma a Taiwanese corp in January 2024 for only $210 M . Upsher launched its Vigadrone Oral Solution in 2018 and has now included Vigadrone Tablets, a branded-generic everolimus tablet, which they plan to launch soon according to a press release on April 12 announcing the expansion of its rare disease portfolio. They will be participating at the American Academy of Neurology meeting in Denver from April 13-18 2024. The Vigapoder Pyros product v Vigadrone Upsher products competition has started.
Just witnessed a phantom bid here. MM CSTI put up offer of 500k shares at .14. Apparently someone tried to hit the offer and he quickly went down to a .16 offer. Good sign for all long timers here.
Despite all the IFS, this is one of the few stocks on the OTC that actually earns money, has a growing PE and can support R&D without selling shares from treasury or making secondary offers. Sometimes it takes time to turn a company around after some missteps. Ever hear of Amazon which now trades at all time high.
We may have seen the last trade below .14. I remember when the AMA King bought the last shares below a dime last year.
The 6 month stay in the Purdue v. Elite patent infringement case expires, ironically, around the time for the 10K. The stay was issued for pending decision on the Accord 1 and Accord 2 appeals in Federal Court. Have you been able to get an update on the status of those appeals which will have a major impact on the Elite case.
Thinly traded stock can make large moves in either direction when a volume player wants to buy or sell. The recent downtrend on low volume has been caused, I believe in observing level 2 MM action, by someone who wanted or needed to get out in the .13-.15 range. The successful investor will take advantage of this situation since the seller will eventually be done.
While many may feel that they can wait a few months as the date for the 10K annual report approaches, I am betting on a surprise announcement before the end of June. If and when that happens, or if a big new buyer decides to join the fray, many may have a shuuda, cudda wudda reaction.
Waiting for the gap to fill may be like waiting for Godot. Perhaps it aint gonna happen.
I've been adding steadily since late February. It matters little if one pays .13, 14. or .15 IF you believe the stock is going to .50 of better in the near future.
In parsing the 2 year prediction, I think we should consider that it takes two to tango. Nasrat probably believes that the revenue stream, with one , two or three of the needle movers, would make this company a prime candidate for another company to make a bid.
If Elite wins the suit with Purdue and Oxy is approved, it is likely that another company make a bid which shareholders will find acceptable. A buck a share computes to a market price of 1.3B which is not an impossible number. Almost a ten bagger form current price.
Actually Moses was not allowed to enter Canaan since he committed a murder Before he even received the Ten Commandment ,so he wasn't disobeying God. If you continue to try to murder the stock dissuading potential shareholders from the great opportunity to make money, or cause others to sell prematurely, you may not be allowed into the promised land either. Perhaps you can go to Sin City if you still have any skin in the game.
Then again you and the Nasrat is going to jail guy can continue to Pontificate that Nasrat is a bad CEO who does not support the shareholders interest. Sorry you failed Sunday school.
Strangely a CRL is not considered a material event to my surprise. Apparently since it not a rejection of the filing but rather a notice that the anda application will not be accepted in its present form, companies can rely on that technicality and not disclose until it files the 10Q.
Nasrat alluded to the fact that when he talked about continuing talks with the fda. The drugs in question are not that big and even when approved will not be a big mover of the bottom line.
The three needle movers which will be very important have not reached their pdufa date which will occur later in the year.
I do agree that receipt of a CRL should be considered a material event.
Having watched the trading in this stock on level 2 for years, I have observed how easy it is for MMs or others to manipulate the price especially on low volume. While being on the OTC instead of a major exchange makes this practice possible, it also makes it easier for true long term investors to take positions and accumulate shares well below fair value. As a Value Line believer, it is obvious that a company's worth is mainly predicated on whether it earns MONEY and has indications of continuous GROWTH. Since Elite meets both criteria, smart people here will continue to accumulate for indeed like Moses, they will reach the promised land.
Neither you or the Weez are activist investors and one of you may not be an investor at all. When Icahn or Bill Ackman post here ,and decide to get on the Board of Directors, I'll let you know.