Waiting for the next wave...
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Someone had a big dump lol 💩 500K Shares
NAS - you can buy more at the dip...
I would love a fresh squeezed run.
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Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP – Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totaling 1,588,800 shares, a growth of 75.2% from the January 31st total of 907,100 shares. Based on an average daily volume of 3,011,100 shares, the days-to-cover ratio is currently 0.5 days.
Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP – Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,588,800 shares, a growth of 75.2% from the January 31st total of 907,100 shares. Based on an average daily volume of 3,011,100 shares, the days-to-cover ratio is currently 0.5 days.
Drumroll....
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What material event?
They can all make us rich!!!
Now the cherry on top of the cream:
NASDAQ & BUYOUT:
Now if we go to NASDAQ, it will be more possible. It's a very good idea. And someday, we'll implement it, but right now, it can't be done. Last question, let's see, company's futures, what would Mr. Hakim say is the likelihood that Elite will uplift to NASDAQ within the next five years? What would Mr. Hakim say is the likelihood that Elite will get bought out by a large arrival within the next five years?
Two things I'll say to that. One, cut that prediction in half or more than half. Five years is a very long time to do either. We are at a point where our fundamentals are solid, and we are in a growth stage, as I said earlier. We're not flattening out at $30 million and $40 million. We skip the 40s, went to 50s. And we'll talk in June once I have a little more data, what I expect for the future. But definitely, the year after, we're going to beat that. And the year after, we're going to be that.
New Facility: 34K squarefoot
All right. Corporate update, let me scroll down, I believe, -- not mentioned an ETA of being moved into the new packaging storing facilities around June. Is everything still progressing as expected with this? Are we still running the same number of shifts as previously mentioned, at our main manufacturing facility?
The answer is yes and yes. We are on target. We are on target to finish on June or hopefully before. And we're still running the same shift as before. And once the new facility is commissioned. We continue to operate under the same shift because now we have multiple equipment. We don't have to go a second shift. We'll have more people running 1 or 1.5 shifts.
My question is in regard to manufacturing capacity, currently and growth in the near future at our existing headquarters in New Jersey. Also, how is the new Vault construction going? Thank you for all you do. The new packaging and warehousing sites will be of tremendous help. Once finished, we will be covered for the next five years, okay? That really helped cover our growth for the next five years. And the construction of the vault is going on time, and we're working with the DEA to make sure that every step we take is approved by them before we implement it.
Prasco:
Prasco Burel, are you still happy with the Prasco Burel agreement now that we have officially launched with them so far, are they selling our Adderall, as well as you hope? Look, they are a good partner. Prasco has been a very good partner. They have just started transition to us as a supplier, and they are doing very well. We have no complaints.
Purdue Lawsuit:
As I said before, okay, Elite filed the Paragraph IV certificate with the -- with its ANDA generic OxyContin and as that Elite got accepted by the FDA, after the ANDA, got accepted by the FDA, Elite sent the patentee, as we're required by law, and the NDA holder, a notice letter. And that's required by Hatch Waxman, okay. This was followed by a Patent Infringement Lawsuit, filed in the District Court of New Jersey by Purdue Pharma, standard procedure.
Elite obtained an agreement with Purdue, to stay the litigation for six months. Elite's launch of the generic Oxycontin will depend on the approval by the FDA and the outcome of the various litigations involved with Purdue, okay? Or if the patent expired and especially those that are listed in the orange book, okay?
Our ART Technology:
Everything needs to be done in context. You got to figure out what do you have, what are you risking and what do you want to do, to protect the company. Can we use our technology? Our technology is definitely usable and a lot of things, including something like Pfizer's technology. We have the same technology as they do. So if there was a way for us to make a generic out of their OxyER, then that will be an ANDA Okay.
SequestOX Status:
First question is on drug development pipeline. We know SequestOx was shelfed due to cost. Do you anticipate resuming any NDA type R&D in the future? Or do you think Elite will stick to mainly filing for large market and as generics? Is it possible to improve upon an existing generic drug with our control release or abuse the TeranTech and still is filed as ANDA? Or is that -- is it necessary to file NDA?
A comprehensive question that have a lot of parts, so let me answer it this way. A few years ago, we shifted the company's focus and we created a three-pronged approach. The three basket approach. One is the NDAs and the AR technology. Two is partnerships in order to elevate cost and bring in ideas and three is our own product. And all three are active at any moment if the circumstances are right, to move forward with NDA requires a lot of money, okay? And it's because it's the company. So will we do it now? No. Will we do it in the future when we have money? Of course, okay?
For new investors:
Nasrat:
Elite maintained a strong cash position during our transition to sales. We have supported working capital needs as well as R&D pipeline costs, while maintaining our cash levels. Regarding the research and development pipeline, Elite has four ANDAs, filed under FDA reviews. And antimetabolite ANDA used to treat arthritis, inflammatory arthritis, a generic dopamine agonist, ANDA for the treatment of Parkinson's. An ANDA for treatment of pain management, a CNS stimulus ANDA used for attention deficit disorder. And all of them are under FDA review.
Reading the transcript on a Sunday morning:
I found an interesting info on working capital - as soon as we can repay the debt and keep growing we get out of the hole.
From Carter:
Sales are strong, profits are increasing, but also on the flip side, inventory and receivables are also growing. Those two together grew almost $18 million for us. Whenever you have this type of growth, it takes in our industry, approximately nine to 12 months for these receivables and inventories to start rotating into positive cash flow. We have to buy the inventory, manufacture, sell it, ship it, collect our accounts receivable. So there's a whole process.
And roughly, it takes nine to 12 months, before what I call rotations happening, and we start achieving positive cash flows. And we are now nine months into that, and we're just entering that phase. So as we continue to grow, I look for the inventory and the receivables from the prior period, things that we already booked to start generating working capital, and that working capital will support the ongoing revenue expansion.
So as long as we keep going up, there's always going to be working capital demands, as you go up until you hit a steady state and then things level off. Now on to the balance sheet. Our working capital that's current assets minus current liabilities has increased by $4.3 million, approximately 32% over the past nine months, since March 31st.
Stop the fight!!!
Within 2 years we will all be kings and queens!!!
You are welcome
You are welcome
Heads-up = Goatland DD
Heads-up = Goatland DD
Over 1 Mill on a Friday 1.5 hour to go
But he is back - they all come back - it is their job.
Post some dirt and go back to their goats... and again the next day
Yes - Jammy - he was starting our days with demoralizing posts lol
Like a scotch tape that gets stuck to your shoes lol... Could not get rid of him then - and now under a new alias
Hey msdecc we know who you really are...
your pattern of posting resembles too much the guy who wanted to get out at 15 cents... I had you on ignore - don't remember the ID.
Anyone remembers? Thanks
you are welcome
Tomorrow will be 23 months buy out
Hey,
Here is your response - the source was teh self crowned King who as we all know is far from being reliable:
February Schedule:
February 14 - Largest quarterly revenue in Elite's history reported after hours.
February 15 - Conference call discussing Purdue's legal case against Elite, new facility update (size, location, progress report), Prasco launch of Adderall XR, Nasdaq uplisting, forward-looking outlook for calendar year 2024, etc.
February 20 - Antimetabolite ANDA GDUFA Date.
February 29 - Dopamine Agonist ANDA GDUFA Date after minor amendment submission in late November.
We have a slow day - volume is below 150K shares at 12:00 PM EST
Announcement: Goatlanders went to the warehouse yesterday and spent the day looking for dirt from the past in the archives.
Weazel came out winner of the activity - although he had to use a vacuum cleaner to remove the dust from the findings...
He had 12 years to buy shares - the train left the station !!!
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SMH. Please someone give this guy some shares!!! He really needs the price to go down so he can buy in because he can't afford 20 cent shares.
Prk8r3: You are the MVI this week !!!
Most Valued Investor !!!
Way to go MVI!!!
So here is a typical post of the self crowned King on a bad day: He would reply to his own post:
What the hell are you talking about?
You promised news a week ago?
What the hell?
We are going down !!!
LOL
It seems they fixed the site at last
There was a vote. 320 million votes for!!!
0 against.
Lucky the fake king is. It the ceo with 320 million shares we would have gotten a deadlock. 120 million shares each side. lol.
Nasrat was in his car on the way home and voted.
Enough with the bs!!!
If NasRat was not sued for sequestox it would be hilarious to sue him for the mikah deal which saved the company lol
Mikah saved our ask.
The major shareholder approved
Weird how we go up when ihub is down lol
iPhone app works like a charm.
Different infrastructure
Apparently their web server is down or needs reboot
Site is down apparently
Trying iPhone app