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Thanks for the heads up. Did the 8-K hit after close? I missed it this morning. Great news.
Pure garbage. Website shows as not issues.
Or certain companies had their crap in order and got in line well before Elite.
Help me, but hasn't the following occurred, that is being ignored:
- Significantly lost revenue from contract manufacturing
- NDA & ANDA submissions that have only received CRLs (so not meaningful)
- Warning letter put in place and still not resolved after how many months?
- Not arms length transactions taking place as disclosed in their financials
- Accounting restatement. Lol
This is just the beginning. Everything is rainbows and puppy dogs when we deny the facts.
Hope is as solid of a plan as the CEO has. Good strategy. Lol
And how was the last CRL disclosed? 10-Q.
No, but 3 is a trend and until they fix the underlying issues, that trajectory will not change.
We received CRLs within the 10-12 month window.
Share point moving up? Is this a joke? Look at the chart. That will show you the real facts. Looks like the stock has moved up a couple pennies over the last few years. Yuuuuge! Lol
Yes, dead money for a while. More CRLs. Better investments to park money. Makes perfect justification why it dropped so low.
Well, it did hit under 0.06 recently so 30% reduction is not out of the question. Filling the pipeline with CRLs under a warning letter no less, is not a value add.
I would not consider Elite as a viable company without R&D today. The company's top line & growth without ADF puts this in the "shouldn't be a public company" bucket.
The issue is that Nasrat is going down with this ship. He owns too much to just walk away. That is the real hurdle for the company to bring in a real CEO, beyond just a QC guy.
With some quick cowboy math, 5% creates about a nickel of EPS creation.
37M revs, w/ 50% split. Now cover usual quarterly expenses to avoid further dilution and with a 30 forward multiple brings less than a nickel.
Pfeiffer has been a solid add to ELTP. Perhaps he's the one behind all the CRLs.
Love this. Small dose of reality is tough to swallow for some that are expecting a page 5 to page 6 movement to be a sign of the Second Coming.
There is only so much that one can say about a bunch of CRLs.
Interesting activity for sure, but at the end of the day it is still light volume. I will be cautious until news comes out. All to often these are trading opportunities where no news takes place after spikes and all gains are given back.
It is clearly specific to device. Plain as day on mine and hasn't ever disappeared.
That is because it is 3rd from the bottom on page 5. No change.
*golf :)
Perhaps from the good course.
Lol for those other than Elite.
Yep, as it is always there. Wishful thinking otherwise.
Every time I check the same Warning letter is there. This is the biggest joke. Lol
I have looked each time someone has said it has disappeared. I have always seen it there. It must be a conspiracy. :)
I just confirmed. It is still there, as it has been since August of last year. No change.
Form 4's aren't required to sell shares to LPC. That is what keeps the doors open.
I blame Russia and North Korea.
My guess is that it is more of an internet cookies issue that keeps getting repeated. Try a new browser to see if the issue still exists.
Yes, as much as 2016 was as well.
Aside from the CRLs you mean though, right?
The stock just hit 5 cents and change recently. That is 3 cents away from 0.02. CEO's words have had little impact on this stock as can be seen in the stock price since the Nov call.
They resolved accounting for basic deferred revs. They probably brought in an intern to fix that issue.
Doesn't mean they won't try to sue. Elite is short on cash resources. Purdue lawsuit will add further financial strain that may limit R&D and/or other needed spend.
Epic's Oxy IR that had the first commercial sale back in March of last year. Gonna be YUUUGE! I think Trimipramine is a bigger hit than this one.
Per the 10-Q:
Oxycodone 5mg, Oxycodone 10mg, Oxycodone 15mg, Oxycodone 20mg and Oxycodone 30mg (“Oxy IR”)
We received notification from Epic in October 2015 of the approval by the FDA of Epic’s ANDA for Oxy IR. This product was an Identified IR Product in the Epic Strategic Alliance Agreement Dated March 18, 2009 (the “Epic Strategic Alliance”). Oxy IR was developed at the Northvale Facility pursuant to the Epic Strategic Alliance, in which we are entitled to a Product Fee of 15% of Profits as defined in the Epic Strategic Alliance. The first commercial sale of Oxy IR occurred in March 2016, and sales by Epic of this product are ongoing.
Wrong on so many levels.
I think this is my favorite section from the warning letter:
As a result, our inspection determined that over half of your case files (b)(4) did not contain evidence that you performed any evaluation or provided approval for submission to FDA.
Wow. Solid work all around.
"We have done everything the FDA has asked of us". Is that the first, second or 3rd time that the FDA asks for the information.
The FDA wording is clear as day regarding Elite's ineptness of their FDA submission. Anyone that says otherwise clearly has a slanted agenda.
Let's start with another fact that Epic's partnership on the Oxy product with Elite was supposed to be huge. Guess "huge" is only relevant to zero. This has been on the market for a while now. Zero impact.