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I was checking some of Nasrat's stock ownership disclosures with the sec and the one that really caught my attention is that - he still has "79,008,661 shares issuable upon the cash exercise of the Series J Common Stock Purchase Warrants (which warrants have an exercise price of $0.1521 per share of Common Stock), which became exercisable on December 5, 2019"
So... we're looking at $12,017,217.34 cash inflow if he exercise the warrants. What if we make a proposal with Nasrat to use this as payment in part (or full if he accepts it) for the other 50% share of Adderall? JTOL ;D
https://www.sec.gov/Archives/edgar/data/1053369/000121390020024776/ea126290-sc13da2hakim_elite.htm
Yeah! Interesting disclosure at this time
From SEC FORM 4: Kristine Hakim acquired 2,223,147 shares @ $.069 (Shares issued in lieu of cash compensation for Pharmacovigilance and Medical Affairs consulting work during 2018-2022)
Who's Kristine Hakim?
https://www.linkedin.com/in/kristi-hakim-053b8787
Note: Director Medical Affairs/ Pharmacovigilance. Pfizer. Pompano Beach, Florida,
There's still a gappy-head lurking around. NOT GONNA HAPPEN!!!
Is this the same patent that got challenged and eventually invalidated and lost initiated by a company in India?
Yup! Although if they wait a lot longer the more expensive Elite will be..
My gut feeling is telling me that Dexcel is eyeing Elite as another acquisition target.
scoop! Dexcel's new website shows Edenbridge Pharmaceuticals in NJ is a subsidiary. They have Vigabatrin in 500mg tablets too. Interesting!
https://www.dexcel.com/markets
I stand corrected. These are annual retainers fee payments in lieu of cash. NOT Warrants/Options
Correct! 3 Directors acquired/exercised their warrants for 547,657 shares at 0.0365 each
https://www.sec.gov/Archives/edgar/data/1053369/000132422223000001/xslF345X05/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/1053369/000132422223000002/xslF345X05/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/1053369/000132422223000003/xslF345X05/primary_doc.xml
This might instill in some buzz
The Coretec Group & University of Adelaide’s Research Work on CSpace Technology Selected for Presentation at SPIE Photonics West ConferenceANN ARBOR, Mich., Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Coretec Group (OTCQB: CRTG), developers of silicon anode active materials for lithium-ion batteries, and cyclohexasilane (CHS) for EV, cleantech, and 3D display technology, today announced that its research in partnership with The University of Adelaide on its CSpace 3D volumetric display technology has been selected for presentation at the 2024 SPIE Photonics West Conference. Taking place in San Francisco, CA, on January 30, 2024 at 4:40 pm PST, the presentation details the most recent CSpace research developments. It will be given by Adelaide’s Dr. Yunle Wei.
The presentation is based on Coretec’s CSpace technology that utilizes two invisible infrared lasers to generate visible, 3D image pixels in glass within an imaging chamber. The research evaluated three types of alternative low-phonon-energy types of glass that possess high optical quality and the potential for mass manufacturing. Tellurite glass was found to be the most promising candidate, due to its high fluorescence efficiency for display and up-scalability of the imaging chamber size. The technology can be used in a wide array of applications including medical imaging, automotive and aerospace design, visualization in weather, defense monitoring, and many others.
“Our work with The Coretec Group has been highly beneficial and generated encouraging results,” said Dr. Wei, Post Doctoral Researcher at the University of Adelaide’s Institute for Photonics and Advanced Sensing (IPAS). “I look forward to connecting with and presenting our exciting results to fellow industry professionals.”
“We’re encouraged by the results from The University of Adelaide, and excited to share them with leaders in the photonics industry,” said Matt Kappers, CEO of The Coretec Group. “While our Company’s efforts continue to focus on Endurion, we are eager to pursue new milestones in the development of our CSpace technology, and aim to ultimately realize the shareholder value of this highly specialized product.”
Obviously the flippers has sold and wanted to bring down the sp to load on the cheap again. I think that old trick is getting weaker and weaker as people realizes the coming exponential growth this beaten (stock price wise) company has endured for many years by these manipulators. GO ELTP - LONG & STRONG!!!
A merely defensive answer - when you are proven wrong. :O
You nailed it. Excellent Post!
ELTP Long & Strong!
Any thoughts of correlation for non-renewal of the poison pill which expires Nov. 15, 2023? TIA
Owner of 5%+ of a company's issued Outstanding Shares must file a "Ownership Disclosure" with the SEC. No?
$10,140,150.81
So... If you ask how I came up with this amount? I derived my own formula and to my surprised it turned out exactly the same figure as the issued outstanding shares as of June 30, 2023.
340k order just showed up at the bid for .1219 Nice!
My pleasure!
AUTHORIZED/APPROVED to be issued is1.445B shares
Last Q report says OS is 1,014,015,081 shares as of June 30, 2023. Where did you get 1.3B ?
https://www.sec.gov/ix?doc=/Archives/edgar/data/1053369/000149315223028434/form10-q.htm
South Korea Plans to Fine Two Global Investment Banks for Naked Short Selling
(Bloomberg) -- South Korea’s financial watchdog is proposing the imposition of record fines on two global investment banks for “routinely and intentionally” engaging in naked short-selling, which is considered illegal in the nation.
The Hong Kong-based units of the two banks conducted naked short sales in several securities between 2021 and 2022, and could have reaped extra profits from them, the Financial Supervisory Service said in a statement on Sunday, without naming them.
BNP Paribas SA and HSBC Holdings Plc are the two banks, local media including the Korea Economic Daily reported. A BNP spokesman declined to comment, while an HSBC spokesman didn’t immediately provide a response. Naked short-selling is a practice that involves selling shares without even borrowing them first.
The proposed fines need to be finalized by a committee at the nation’s financial regulator Financial Services Commission, the FSS said, adding that the banks’ identities will be disclosed to the public after future proceedings. While authorities have uncovered and penalized money managers for illegal short-selling in the past, it’s the first time such violations have been found at global banks engaged in transactions in Korea, the FSS said.
“This is a serious problem,” Kim Jungtae, deputy governor at the FSS, told reporters. “For a long time, they have continued to do naked short-selling while they were aware that the practice is illegal in South Korea.”
An imposition of penalties will mark an extension of South Korea’s increased efforts in recent years to weed out illegal short-sellers from its $1.7 trillion stock market. Public perception of such trading practices in the Asian nation remains deeply negative. Local retail traders have staged protests against these activities from time to time and also made sporadic coordinated attempts to drive gains in stocks targeted by short sellers.
continue here : https://finance.yahoo.com/news/south-korea-plans-fine-two-030000006.html
Is This The End Of Naked Short Selling?
American investors have been taken for a trillion-dollar ride by naked short sellers, in what could turn out to be the biggest financial regulatory scandal in North American history.
While what is now an all-out war on naked short sellers intensifies, there is a new flashpoint on the front line–a potentially devastating ruling targeting those who are alleged to make illegal naked short selling possible: The Facilitators: bankers and brokers.
On September 29, Federal District Court Judge Lorna Schofield of the Southern District of New York issued a ruling that has the potential to significantly disrupt Wall Street compliance, and is a major first step towards protecting retail investors from fraud.
In Harrington Global Opportunity Fund Ltd. v. CIBC World Markets, Inc et.al, Judge Schofield found that broker-dealers may be primarily liable for manipulative trading initiated by their customers because they serve as “gate-keepers” of trading on securities exchanges.
These broker-dealers have a “continuing responsibility to ensure that their customer’s order flow ... is in compliance with all applicable rules, regulations and laws and detect and prevent manipulative or fraudulent trading … under the supervision and control of the firm,” the judge ruled.
The defendants in the case had motioned to dismiss Harrington’s claims of market manipulation and spoofing (when traders place market orders and then cancel them before the order is ever fulfilled, manipulating prices in the meantime). Judge Schofield denied the motion after hearing arguments that broker-dealers are not responsible for “their customers’ trading”.
Instead, the ruling recognizes that not only are broker-dealers the gate-keepers who can enable illegal naked short selling, but they are responsible, and thus liable for their customers’ actions. Schofield described broker-dealers as “reckless in not knowing that the trades being executed at their customers’ direction were manipulative”.
continue here : https://finance.yahoo.com/news/end-naked-short-selling-230100677.html
News! Short sellers will have to report more data under new US SEC rules
PUBLISHED FRI, OCT 13 20231:59 PM EDTUPDATED 2 HOURS AGO
The U.S. Securities and Exchange Commission on Friday agreed to roll out new rules aimed at boosting transparency of short selling, the controversial practice of betting against stocks that drew new scrutiny amid the GameStop saga.
The rules, first proposed in late 2021 and early 2022, will require investors to report their short positions to the agency, and companies that lend out shares to report that activity to the Financial Industry Regulatory Authority (FINRA), a self-regulatory body that polices brokers.
Short selling involves borrowing a stock to sell it in the expectation the price will fall, then repurchasing the shares and pocketing the difference. Should the price rise, the seller can be exposed to potentially unlimited losses.
Short interest in the U.S. market totaled $927 billion as of Thursday, according to analytics firm S3 Partners. The practice has long been divisive, with critics accusing short sellers of trying to hurt companies, and short sellers arguing they help root out fraud and corporate misconduct.
Short selling drew renewed scrutiny from Congress in 2021 when retail investors drove up the price of shares in retailer GameStop
), causing heavy losses for hedge funds that had shorted the company. In the wake of the saga, SEC chair Gary Gensler told lawmakers he would increase the transparency of the market.
Since at least 2021, the Justice Department and the SEC have also been investigating potential manipulation by short sellers and hedge funds around the publication of negative research reports.
SEC officials said the new rules, which the commission agreed upon in a 3-2 vote, support the agency’s efforts to police the practice.
Specifically, institutional investors will have to report gross short positions to the SEC monthly and certain “net” short activity for individual dates on which trades settle. The SEC plans to then publish aggregate stock-specific data on a delayed basis.
In another 3-2 vote, the SEC decided to require institutional investors and other companies involved in lending stock as well as certain broker-dealers who borrow stocks to report information about the loans, such as the name and volume of the stock, collateral, loan dates and termination dates to FINRA.
FINRA will then publish most of this data on an aggregate anonymized basis the following day. In a concession to industry, the final rule would see FINRA delay release of loan amounts by 20 business days.
https://www.cnbc.com/2023/10/13/short-sellers-will-have-to-report-more-data-under-new-us-sec-rules.html#:~:text=The%20rules%2C%20first%20proposed%20in,regulatory%20body%20that%20polices%20brokers.
Someone bought 200K at .0985 (high so far this morning). Nice!
Simply check my posting history.
I got a lot to catch up. lol
From SEC 8-k filed. Elite reported that it has filed an Abbreviated New Drug Application with the US Food and Drug Administration for a"generic version of an undisclosed generic drug product in a class of medications called opiate analgesics"
Any guess what it is?
https://www.sec.gov/ix?doc=/Archives/edgar/data/1053369/000149315223033590/form8-k.htm
Great news today.
Can you or someone else post this list on ymb? thanks! Have a good weekend.
According to the FDA's GDUFA (Generic Drug User Fee Act) Program Fee as of April 30,2023, Elite has submitted 15 ANDAs for FY2023. Is this correct?
https://www.fda.gov/media/145453/download
Pardon my ignorance but what does "crossed 300k shares" mean?
tia
From 8-k filed today...
In connection with Mr. Ward’s appointment as chief financial officer, Mr. Ward entered into an employment agreement with the Company on September 4, 2023 (the “Ward Employment Agreement”), effective as of September 5, 2023 pursuant to which Mr. Ward will receive a base salary of $275,000 (“Base Salary”), a guaranteed annual bonus equal to 20% of Base Salary and is eligible to receive additional performance bonuses of up to 30% of Base Salary, as determined from time-to-time by the Company’s board of directors. Additionally, Mr. Ward will receive options to purchase 3,000,000 shares of the Company’s Common Stock at a price equal to the closing price of the Company’s Common Stock on the Effective Date.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1053369/000149315223031972/form8-k.htm
Good read...."Warren, Jayapal Call on FDA to Clear Patent Hurdles for Generic Drugs"
(Bloomberg) -- Senator Elizabeth Warren and Representative Pramila Jayapal called on the top US drug regulator to close loopholes that delay competition to established drugs that enable big companies to keep high prices in place longer.Democrats Warren, of Massachusetts, and Jayapal, of Washington, wrote Food and Drug Administration Commissioner Robert Califf on Monday urging the agency to do more to stop brand-name drugmakers from keeping lower-cost generic drugs off the market. In their letter, the lawmakers called for changes to rules that “pharmaceutical companies have exploited to rake in billions in profits.”
Brand-name drugmakers have been accused of blocking generic competition by methods such as delaying the filing of patents to extend their protection. President Joe Biden’s signature legislation, the Inflation Reduction Act, tries to address pharmaceutical affordability by making prices for drugs that have been on the market for years without generic equivalents eligible for negotiation through Medicare, the health program for the elderly.
One tactic for keeping generics off the market involves a publication called the Orange Book, which lists every FDA-approved drug as well as many patents filed in relation to each drug, the lawmakers wrote.
The Orange Book, which is public, can be used by generic-drug companies to determine when they might file for approval of their copycat versions of brand-name drugs. Approval is often sought before all the corresponding patents have expired. But if a generic maker is sued by the maker of name-brand drugs based on any patents listed in the Orange Book, there’s automatically a 30-month stay on the FDA’s ability to approve the generic version.
The FDA should be more strict about the patents it lets drugmakers list in the Orange Book, given it currently does minimal oversight, the lawmakers wrote.
The FDA should share more information on drug development with the US Patent and Trademark Office so that agency can determine if pharmaceutical companies are using patents anti-competitively, according to Warren and Jayapal. The legislators offered recommendations for steps the FDA could take to lower pharmaceutical costs for consumers and requested a briefing by Sept. 13.
https://news.yahoo.com/warren-jayapal-call-fda-clear-110000077.html
Nicely done. Thank you!
I requested the Financials IBox be updated to include 2023 couple of times already but to no avail. Would you do it? TIA
It's looks like a GTC order with nite since last week. A patient buyer but come next week might be a chaser.
Adding 500k more to my stockpile next week. Keep this bargain price level for now, okay? Thanks!
It's time to update the FINANCIALS Ibox for 2023. Any moderator(s) here to do it? tia
Mods kindly update the FINANCIALS ibox. tia