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Have you ever taken OTC pain meds? Prefer one to another? There ya go. People have different experiences with generics (medication in general actually). Pretty simple. You can find 100 people that say one thing and 100 that say another.
Minus the "corona pump" the stock had a triple top around 6 cents. I see it basing low .04's before the next run...which will happen. This seems like a good entry point to start building a position for a medium to long term hold. Lots going on here for an OTC stock with such a low market cap. I haven't owned shares for probably 6 years but I like what I see going on here.
267 MILLION is a few shares? LOL. Yes, a run is coming.
Someone should tell the CEO then; he's gonna have one heck of a hard time selling his 267 million shares on the open market.
So a run is coming then...is what you're saying. Thanks.
The magical .125 price rings a bell with me. Sound familiar?
The CEO just converted his preferred into 165 million of common stock... at 15 cents conversion price. Seems like he knows.
If you look at things objectively, last Summer during that "crash" in the share price when Elite was basically broke, had no access to funding and FDA was delaying Adderall XR, it only went down to .039. And that was basically if the company was going under. Elite now has ample funding for operations as well as substantial R&D and is actually making a profit now with heavily increasing revenues and on track to do $40 million + this fiscal year!
A bargain for a company with only a ~$65 million market cap.
More like I don't like repeating the same thing everyday when it falls on deaf ears.
I can't respond to anymore of your messages. I just can't do it.
snup, my man, the plan is crystal clear. Nasrat has laid it out for everyone. Sell a bunch of Adderall. Eventually get Elite to own 100% of both Adderalls. Get Concerta to a point where they have a viable product. That's the plan.
Crystal clear my man.
Nasrat saw this message and is currently doing pushups to get pumped up.
And how do you know this doesn't already happen? How about you let the guy with 200 million shares do his job.
He can seek companies to potentially or be acquired by
All he can do is execute the company's business plan.
Yes, the CEO is going to sell 160 million shares when the daily volume is less than a million. Not counting the fact that they were exercised at .15/share, so he'd be losing at minimum 50% immediately. Not to mention any selling by him and the price tanks. So no, he didn't sell any on the run to .97 so he's not selling any at .07
This is just his conversion from preferred to common stock.
158 million and this was the planned Series J Conversion.
Explanation of Responses:
1. The preferred shares are convertible into shares of common stock at a rate of 6,576,878.18 shares of common stock for each whole share of preferred stock, effectively $0.1521 per share of common stock.
2. Shareholder Approval was obtained on June 23, 2020 for an increase in the number of authorized shares of common stock to permit full conversion of the preferred stock.
3. None
30 days I doubt it. 300 ok. But take care.
Penny stocks DO NOT follow any broader market movements.
And one 10k bid hit and it will go back down. Who cares about intraday movements off of 30k worth of stock. Pointless.
Exactly. So in the meantime seeing these 500k, 750k shares days is meaningless to me when in one good day it could wipe out all of these poor performance days. 1 million shares is only $60k worth! 60 grand! And like I've said before...does it make me feel any better if the stock is at .09 or .06? Nope, both suck! In the meantime I wait.
Last major volume day was around 15 million and that was late 2017, other than that you have to look back to the 2014 run up where there were days of 20-30 million. Last September when the stock went up 50% in one day was only off of around 6 million shares I believe.
If/when there's something actually newsworthy, this stock can move.
So 700k shares out of 900 million outstanding traded. Or a fraction of what I personally own. Got it.
Again, owning ELTP shares isn't a requirement.
Share count was little under 400 million in 2013; 7 years later it's now under 900 million. No shares issued = company wouldn't be around.
Owning Elite shares isn't a requirement.
I'm not voting out a CEO who owns 250 million shares. Out of anyone in the world, he has the most to gain with Elites success. End of story.
Yeah, laughing all the way to the bank with his 250 million shares of common stock.
The alternative is to put it higher where it can't be tapped?
Wow. First post I read today.
I don't know, maybe the SEC can tell you when you call them up.
Now why would someone want to make sure that happens? Hmmmm.
When you call, make sure you press option #3 to connect to their penny stock hotline where you can make an anonymous tip. Then they will surely contact you to follow up on your tip.
I know right! There isn't even any pre market trades going on today. Uh oh I'm scared.
Would it really matter if the stock was .07 or .10? I mean seriously, lol.
Carter said what Sungen was asking for Adderall. Elite didn't have that amount of cash on hand.
Why do you think Carter said it and not Nasrat? So a 3rd party was saying it.
Ever consider competitive reasons?
That is going to be ONE hell of an expensive single bottle of Adderall.
Agreed.
Wow, ER and IR could be bought for under 250k. What a bargain. I should've bought it.