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Nonsense
When told, "Even a broken clock is right twice a day.", Nasrat Hakim CEO of Elite Pharmaceuticals stated, "Well, my friend, your point is well-taken, however as we at Elite are on a 24-hour clock, your analogy is in fact false. In fact, here at Elite we are clearly not right twice a day."
Life is good for Elite Pharmaceuticals management and staff.
Their future is relatively secure as the company can likely plod along for years to come. People are working and getting compensated well. Boredom is perhaps the worst enemy, except every quarter there is the report to shareholders. While it can be said to be a "necessary evil", Nasrat treats the shareholders with an appropriate disdain and makes no more promises about good progress. -At least none that cannot be immediately dismissed as nonsense. So, while it is bad to be a shareholder, to whom the staff at Elite like to jokingly say, "The trend is definitely not your friend!". It is good to be living off them. Appropriately, "Merry Christmas!"
A poison-pill for Elite Pharmaceuticals. . . "Old Frothingslosh"
"What the above makes clear is that there was no competition between Elite and Mikah to purchase SunGen’s solid dose portfolio because there could be no competition, as it would be in violation of SEC rules and put Nasrat in the legal jeopardy. It is only by NOT competing with Elite that Nasrat can avoid SEC sanctions as owner of Mikah while CEO of Elite. As the discussion from the Annual CC makes clear, there was no conflict.
Always glad to clear up the confusion."
Call it "idle speculation" if you must but, Here's where Nasrat might say, "Darn if the prof didn't cast further suspicion on my already highly questionable business practices. At least as always it came with a large side of condescension and self-aggrandizement such as one might be regularly forced to endure at Hillbilly University or to a somewhat lesser degree during an Elite Pharmaceuticals conference-call for that matter.
At the end of the day, Nasrat gets paid something for what he's done.. . . "A little bit of knowledge is a dangerous thing.", as evidenced by the Sequestox fiasco. Nasrat shouldn't get paid until he fixes his errors and if possible does something of worth to shareholders. . . . Which brings up the odd scenario whereby he gets paid to resign.
In all honesty. . . Thanks for keeping your mouth shut Nasrat.. . . Having the stock in the $.03's would make for a less than Happy Holiday. Cheers!
Quit bashing Nasrat. It's time for abject pity.
"There is nothing better than having the CEO buy shares on the open market for a company.". . . Good luck with that!. . . Perhaps if he didn't buy ELTP shares.
It's a "New Jersey law" -Lots of written and unwritten "New Jersey Laws" in Elite Pharmaceuticals' neck of the woods.
Obviously Nasrat is allowing the share price to continue to drop
because, aware that many investors will "double-down", it is out of
the goodness of his heart that he is making the possibility of
becoming a millionaire available to all who will simply believe
and follow him to dollar-land. Soon, with a modest investment, the
possibility of you becoming a billionaire will be just 99 and some hundredths of a penny away.
Nasrat- A "Bash-proof" CEO
Words can't do the man justice. Many shareholders now hold
many more shares of ELTP than they ever expected to purchase
due to averaging down over the many years that they never planned
to hold the stock. "Dishonest", "Inept", "Lazy", "Self- Entitled". . . Nope. Such words seem inadequate.
"From Nasrat Hakim in the last teleconference:"
I would have thought there would be something more along the lines of:
"Certainly one of the major challenges I face every day as CEO of
Elite Pharmaceuticals can collectively be termed, "self-esteem issues". Toward this end I have recently become employed as a
"utility-worker" at the Mcdonald's right here in Northvale. Now when people inquire about my work, it is with no small modicum of pride that I show them my new name-tag. Several of my new co-workers were also in the drug business facing similar challenges. Now they too feel better about themselves earning an honest living."
'The Elite Pharmaceuticals Story' is not about bettering or saving lives through the development of novel medicines using state of the art technology; No, it is simply about transferring shareholder wealth to management. Period.
Yea! Go Elite! If you liked it at $.40 many years ago, You'll
love it at $0.05! Get 'em quick, before they're $0.04!
The "understanding of financial analysis" should be nurtured from an early age.. . . Is it true that as a youth, Nasrat went door to door around his neighborhood selling shares in 'Nasrat's Lemonade' and shortly thereafter skipped town?
-A typical Friday will find the Mrs. making the rounds of the high-end stores, accumulating as many bags as she can carry. Just imagine the horror were one of her friends at lunch to say something like, "Dear. . . all you have to do is go online and see the price posted in any number of websites. It's not $1.55. It's not $0.55.
It's $0.055.". Oh the horror! Poor Nasrat!
(Aside) Sold CYDY and ADTX, the latter WAY too early. I feel they
are worth mentioning because both companies maintain a high level of
shareholder engagement and the share prices of both companies have recently generated impressive returns, unlike Elite.
Given the current pandemic environment, there really is no excuse for idle, under-utilized, production capacity for a company that not long ago billed itself as a "contract-manufacturer".. . . Except, "That's WAY too much W_ _ K".. . .
. . . Maybe if someone talked to Mrs. Hakim she could get Nasrat off his derriere. -Could be she thinks the share-price is somewhere in "Dollar-land".
Having recently traded a few small pharmaceutical stocks, In all instances I am struck by the level of shareholder engagement which has been encouraged and provided for by said companies. The management of these companies sees how a level of "positive dynamism" can be created and sustained through involving shareholders.. . . Alternatively, Nasrat appears content to, "Let the company run itself". . . . into the ground.. . . Whereupon he will probably seek something else to feed upon. For those hankering for Nasrat to leave, he may want to, "Get while the getting is good.", i.e. Enough damage has been wrought.
Oops! "Stephen Hawking". . . I apologize for my lack of
mathematical precision in this case. Especially as it is possible
someone might think I was referring to someone other than the aforementioned "cosmologist". - "Possible"? Yes. "Probable"? No.
Would Stephen Hawkins buy Elite stock?. . .
-As a central tenet of his theoretical musings can clearly
be understood by the statement, "There is no God.", mebbee so.
"You should ask your family and friends to buy shares". . .
'Nuff said.
Truly a shame how bad advice has been the downfall of many an otherwise successful investor.
To all the "investors" who ask for Nasrat's head. . . Unfortunately, this is not a case wherein THE MONSTER is killed by cutting off it's head. . . . When management is congratulating themselves on "execution" that amounts to little more than blind stumbling, and asking shareholders to join in the exaltation as the share price slides into the infinitesimal, much more comprehensive measures are needed.
HAPPY HOLIDAYS ELITE STYLE. . . . "Pass the shareholder-bones please."
Since Nasrat's managerial style is apparently contagious, as epitomized by the recently created news release, I think he should consider embarking on a career as a spoken-word artist. Yes, Nasrat
should put out a rap-album under the pseudonym "40- Cent". Thus, alluding to his not being outdone in the dishonesty department.
Some of the best ideas companies have acted upon and subsequently reaped huge benefit from have come from shareholders who were given a voice through channels of dialogue that were created exactly to promote such. Um. . . Hello?. . . Nasrat?. . . Anybody?. . . Do you hear that?. . . Someone keeps saying, "My middle-name is Litigation!" over and over again. Not to worry!
Float: 779.4M . . . So, "at the end of the day", what kind of news is going to ever move this stock as much as 2 cents?
Rather, 'Notes from Lake Woebegon', a place where "all women are strong, all men are good looking and all children are above average."
Nobody needs the Fundamental Theory of Calculus to reveal Elite to be the shoddy enterprise one look at it's earnings history or balance sheet indicates it is.. . . Now, if one is so inclined, one might "cherry-pick" from any number of mathematical formulae to support any idea that results in this case translate into soundness and good progress. . . . As if $10 million was an ambitious number.
Yes. -Ambitious for Nasrat and company. "Quantitative Scatology"
It's time for performance bonuses, no? . . . To quote Nasrat, "Congratulations on a great quarter. I am very happy for our stockholders, and I'm very happy for us all at Elite. Thank you all and have a wonderful day.". -Qtr. after qtr., CC to CC with nothing happening in between. We could really use some uplifting news, so why not "bonuses all around"? If you don't think mgmt. is "Out of Touch" email I.R. to see how your concerns are deflected.
I doubt anyone is doing any "running" at Northvale, NJ these days. . . YAWN! -The yawns are contagious at Elite!
Most definitely not. You can't make this "stuff" up.
" and we're only running one shift." . . . Which is cool because more shifts means more WORK (there's that pesky 4-letter word again). Complacency is what happens when management sees no need
for improvement. - When in fact they can congratulate themselves on
a "job well-done" when in fact theirs is a story of shared, missed-opportunities. "Well-done Nasrat and crew. Well-done!"
Credit where credit is due.
THE MARKET HAS SPOKEN! YOU ARE NOT GETTING IT DONE NASRAT!
You continually disappoint. Your tenure as CEO embodied by the Sequestox fiasco, is just that, an extremely disappointing fiasco.
A dog with 2 bowls could make more intelligent decisions.
What little is produced can't get sold. Can't get decent terms on a loan. . . Oh yeah, that Nasrat guy. . . 'Course he's got something going. . . for now. . . . His middle name is "Litigation". -That's reassuring.
Nasrat states, "Lannett, our sales or marketing partner is doing a good job,". . . Elsewhere he states, "Lannett is also our marketing partner for Amphetamine IR and they have been successful at capturing substantial market share.". . . Finally, he says, " And our sales and marketing partners Lannett, TAGI and Glenmark are doing a good job." . . . He certainly isn't going to say, "Well, frankly,as far as our sales and marketing agreements go, We currently have to accept whatever "performance" that is achieved by our partners even if it is mediocre at best. Basically they have said, "Take it or leave it."."
"Litigation is my middle name!". . .
Saul Goodman, Nasrat Hakim. . . Nasrat "Lit" Hakim, Saul Goodman.
My question for "Naz" is, "If in fact the share price declines toward 3 cents, will you start collecting exotic cars and get a pet jaguar with a diamond and ruby collar?" -Thanks, "Love you guys." too!
Whoever told "The Naz" that 7.4 would do it must have had an ulterior motive- like getting him to pick-up the bar tab.