Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I see it being hard for the price to rise until some uplisting is officially done. That has been hammered about for so long (by the former CEO and apparently still in a quiet period) that until it happens any pop will be sold into. Hope I'm wrong though.
A reminder: penny stocks do not trade off of fundamentals. They trade on momentum and pumps. For RXMD to be valued appropriately they will need to uplist to a better exchange where real investors come into play and growth is accurately graded. Until that happens, real share growth either won't happen or won't be sustainable.
At least they pulled out of that terrible MyApps deal. Give them some credit for that.
From the looks of things with them cancelling the deal I'd say so. Good thing management reads the board.
This precisely. Imagine thinking spending $10 million on an app is a good use of money when it isn't even doing $1 million in revenue for the year and your own company is already doing $40 million. You telling me no one in management could think of a better way to spend $10 million in shares?
Thank goodness the deal didn't go through.
Do you listen to the conference calls?
With all of that, we're a small company and we're on the OTC. Obviously our stock gets manipulated. We have low volumes, when you have 500,000 shares changing hands at $0.06 a share or $0.07 a share, that's $30,000, $35,000 anybody with fair brand can manipulate the heck out of the company. That's why I keep talking about creating fundamentals and getting the heck of the Bulletin Board and the OTC and moving on to the place where we have institutional investors coming in.
As I mentioned and so this quarter, we've had five quarters in a row where we have done very well and yet the stock did not move. That pressure is building up and I do believe sooner or later we are going to take off.
Let me say in conclusion that we are in the best financial shape ever and we are doing better than most in the industry. We've stabilized the company, we have solid manufacturing facility with excellent GMP compliance and history and financial sources through our profitability and Lincoln Park Capital, we have an avenue to buy products, work with partners or go at by ourselves for R&D.
We are profitable and targeting sustained profitability. We have $75 million in federal tax credit, meaning that the first $75 million that we earn we don't pay taxes on. We have very little debt. If you look at our debt-to-market cap, we're running at about 7%, if you look at Teva, they're running at 200%. Our profitability and Lincoln Park deal are critical factors and our investing in R&D. The list I just went through is our vehicle to NASDAQ, makes us very appealing for somebody to buy us out or for us to merge with another company's sales and marketing or of the sort and continue. The news has been fantastic in spite of the stock has not moved in the past, I have -- I have no remedy for that, I don't have the magic wand for me to get the stock up, all I have is our hard work, continuing to get the best deal for Elite, to ensure that we will get to where we're going.
Agreed, way better ways to burn $10 million out there. (BTW, hello fellow 2+2'er WHADDUPPP)
She stepped down.
Thank goodness. Whoever thought that deal made sense in the first place should be voted off the island.
Good news. Maybe someone in the company actually can do math!
Former CEO Mars was also a part of that gang too, fyi.
Fact check: The minimum allowed is .03 with the new LPC deal (before it was .10); if the share price is 6 cents, shares are sold at 6 cents. 8 cents, 8 cents and so on.
It's a fact (if you believe in the accumulation/distribution indicator) that Elite has been accumulated a lot in the past year. A reminder to anyone, because it will be questioned...a stock can be accumulated while downtrending or remaining stagnant for an extended period of time. See chart below:
https://stockcharts.com/c-sc/sc?s=ELTP&p=D&b=5&g=0&i=t5807449212c&r=1603818026304
On that note, I added 48k shares this morning.
I wouldn't say that but it will be interesting to see how far they take the 'quiet period' road. Let's say there's a significant delay of 12 months..are they just not going to say anything the entire time? If so the PPS is going to suffer. I really hope they say something at least.
Being that it seems Mars left and wasn't fired...I'd say they ran into a serious roadblock with any uplisting efforts and due to her constantly talking about how close they were to uplisting she decided to leave rather than face the music.
Any other comments on why a driven CEO would leave all of a sudden when working on the largest single event in company history? Why not see it through?
Let's be real. The CEO, who kept mentioning the S1 abruptly departed and someone within the company was appointed permanent CEO. Any uplisting is very far away and I'd settle with them becoming SEC current as a start.
Mars, who thought of the S1 as her baby (and would require much more work) leaves all of a sudden and that doesn't sound weird?!
I'm going to say no, he doesn't care about the daily movements. Probably why he mentioned the stock movement on such low volume.
Well, IMO there's no way Jay was the first pick for the CEO position. Either way, here we are. How about becoming fully SEC reporting? A $40 million revenue company aiming for $100 million needs to come out of the dark.
If only it was so simple right.
Unfortunately OTC's don't trade off of fundamentals.
Yeah it's time. $40 million in revenue now, aiming for $100 million. Get that fully reporting status.
I think it's safe to say anything they have to release that isn't information about an uplisting or merger will fall on deaf ears.
There's no point in doing one as there's no price needed to stay on the OTC, lol. They just raised the AS. He would do a RS to uplist to the Nasdaq which ELite isn't ready for.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=158509580
Nice try though.
Oh so that's why the CEO converted his preferred into 160 million common shares. Gotcha, makes perfect sense.
The timing of her leaving is intriguing. Right as they're working on arguably the most important task in the company's history the CEO leaves. Not sure what to make of that.
Nice buy point in high .03's at support.
Nope, wrong again.
What should he say? I'm curious.
That's the beauty of the stock market. If someone were to have bought shares the day Nasrat became CEO, they had the chance to sell all the way up to the .90 cent range. Not bad. Everyone makes their own decisions.
Patiently waiting for the next run.
I'd suggest you read about what bid/ask spread means.
My daily reminder: there will be no press release until the conference call announcement.
Guess I’ll keep repeating myself. There will be no press releases until the conference call.
No I don't. Everyone should know penny stocks don't trade off of fundamentals.
That would bring a lot of confidence. Amazing some don't see any issue with him seemingly being in charge of a publicly traded company.
I already told you, no news until next months conference call.
They are going to have to seriously cut back on expenses eventually.
They should be focused on growing the company and revenues, which they are.
Run the business?
That would be an even safer bet than buying ELTP in the .06's! :)
Spoiler alert: there will be no news until the conference call PR.