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Charts are useless in OTC Scams. :)
It was a fluff PR, an attempt to maintain PPS to lessen the blow of Treppel resignation.
Looks like someone is keeping it low to accumulate. Level 2 shows all buys. Last 6 hundred thousand at 30 but PPS remains the same. Any one familiar with this trading pattern?. Looks like Big boys accumulating shares to me.
Talk about screwing investors.
Unfortunate for investors who bought in the high 30s and 40s. All were screwed by management, instead of a PR about NDA acceptance, they got Trepel resignation. They knew exactly what they are doing to the stock when they announce Jerry's resignation.
Wow! Short volume has never been this low. Does that mean short squeeze coming soon? :)
Looks like there might be some long term investors this time around. I put up 200 thousand on the ask at 34.5 and got pick up right away. Good times are ahead.
Share price wont drop too much. Looks like someone is maintain share price with minimal bids after every dump.
That is not true. CEO has stated that Pfizer ADT technology, which has already been approved, is identical to Elite's.
That is why they should keep on holding while the rest of us flip and make money.
It should be clear to anyone looking at Elite, that it is a Scam. With talk of launching and completion of Phase 3 and PPS keeps tanking. This is highly suggestive Insider dumping shares. What happens when they running out Pumping material? Elite will crash hard. Get out while you still can. I sold all my position in the last run up at 23 cents. Gain only 4.5 percent for almost 2 years invested. This management comes up with
one fake "carrots" after another to suck in Newbies. None of their promises has materialized in the last 2 years. Dumb arses on this board keep blaming manipulations for the dismal share prices but we all know it is a Scam. When prices drop,, it is the market. When market goes up like today and we still see Elite tanking, it is because of manipulation. Funny. All should know that Elite is a Scam. Stay away folks!
Can anyone chime in on why Morgan Stanley asked about whether Epic had right to first refusal on future products? Looks certain that something big will happen. Was Nazrat's answer what Morgan Stanley needed to hear before making decisions regarding Elite?
Nasrat stated multiple times that we will not have a reverse split to raise share prices and will allow Elite to grow organically before moving to Nasdaq. How do you suggest we get to Nasdaq with all this manipulation? We don't! We have initiated phase 3, garnered a marketing partner, ramp up production machinery and staff and yet, we can't get past 22 cents. It is clear that investors do not believe Elite can take a piece of the Opiod Pain market. Without further delays, it would take Elite another 2 years to demonstrate any decent revenue from Eli200. Until then, Elite will continue to sell with the news and manipulated down. It is in the best interest of flippers and traders to keep prices down low. This way it is easier to rake in maximum profits with minimal capital investment.
Because to the extremely limited interest in Elite, Manipulators feel like they can drive this stock up or down as they please. It is unlikely to stop with NDA or even approval. The only sure thing that will move this stock is tremendous revenue from Eli 200. That will take a few quarters after launch. Elite might not reach a dollar until 2018.
If they make 10-20 percent every few weeks, why would they need to hash some big conspiracy to keep Elite down?. Much the same way gaming odds are calculated. They just need 10 percent juice every week from half of the players, in the long run, they collect all the money.
When Nasrat announced Phase 3 will not be initiated until mid June, It gave MM and flippers time to drive prices down to accumulate. Prices will probably be stagnant until next week.
Looks like VP of operation might not the only one dump. Millions of shares are being dump on the puplic with no end in sight. There is something wrong with ELTP and VP is the first to sell. In the last run up to 97, massive insider sold because they knew Evaluation was a Scam. This time might be no different. all substantial bid at .22 is being filled and when there is no more buyer at that price they will walk it down to the teens and maybe even lower.
We are all in trouble. he might be the first to dump. Being this close to nda and we have insider dumping a sizable chunk. This is scary for all longs.
We dropped 7 percent on about 2 millions traded. That number suggest a very small amount of traders and flippers selling under the assumption, they can buy it back cheaper. ELTP has been averaging 1 PR per month. and between PRs, stock has decline drastically. There is no substantial news, other than completion of Efficacy and NDA filing, that will move PPS. Unfortunately, those catalysts are a few months away so flippers will buy back when those dates get closer.
Based on the the HAL study, Elite has already demonstrated no leakage with polymer. Oxycodone and Naltrexone are proven entities and does not need further testing. Efficacy study is simply to retest sequestration ability of polymer. FDA rationale for Efficacy study are simply to cover their own ass because of Elite's new technology.
With what money? Nazrat will wait for PPS to improve a bit to cash out LPC. Cashing out LPC at this rate would completely deplete additional authorize share and would probably require additional dilution for subsequent pipeline.
That might explained why someone kept dumping despite apparent good news. Millions of shares were dump despite Phase 3 initiation. This might just be the beginning of more delays. it is definitely not a coincident that updates were made today when the market is off. They withheld the delay so someone could dump more shares.
Hard to believe that Elite was able to come up with their own polymer. USPO granted the patent, so it must be true.
FDA only mandated a small study to test possible leakage highly suggest that they are already convinced of Elite technology.
I wish that was true. Any bid in the 24-25 cent range has been filled. Someone has tons of shares to get rid of and their selling price is around 24-25 range. In the last 2 weeks, we saw millions of shares dump at this price.
This is not manipulation. We are seeing massive amount of shares being dump on the market. trading pattern has been the same the last 5 or 6 trading session. Pattern is slow and gradual so as not to panic the market. This is different than what we see in a "Bear raid" where the goal is to panic investors to trigger sell. This gradual selling tactic ensures seller get maximum dollar and not have to compete with "panic selling".
Just when all longs thought we have reached a bottom, Nazrat dumped a ton of new share onto the market. They have exhausted all buyers in the 25 cent range and is now sucking in 24 cent range buyer and so on. There is not many buyers beneath 24 so we might see the teens real soon if this dumping continues.
Since FDA is only commenting on study format, there should not be any delay. Chances are FDA has already gotten back to Elite and there will be a PR once Efficacy study is initiated. .. Probably, the end of the month.
Its not the initiation of the Efficacy study we all wanted. How disappointing!
There will be a PR once Phase 3 is initiated. Don't expect a PR with FDA commenting on Phase 3 format.
Elite seems to been cleared for the final stretch towards approval. Folks have been burned by management with valuation and fake deadline last year. Investors are wary and are waiting for concrete progression before moving in. CEO words don't mean crap at this point, NDA submission and approval might be the only thing that move pps at this point.
Its actually a good thing for longs when you see MM trying to walk this up. There appears to be no foreseeable negative catalyst. A good way for anyone with a lots of shares looking to sell is to walk PPS up as high as they can before the next positive news. We should see this type of trading action until the next news release.
If management is truly anticipating a launch in quarter 1 of 2016, why hasn't there been talk of a marketing strategy. If Nazrat anticipates 100 millions in revenue for Eli 200, there must be some type of marketing partnership. This is a question that would clarify Elite's direction. Its hard to believe that we are only a few months from launch and there is no talk of a marketing strategy. Can any one comment on this? TIA
I have been quite public about all of Elite's recent delays and misleading hypes. But i don't see any catalyst that could negatively impact PPS in the short term. FDA has given their blessing. The only obstacle is when FDA will response regarding Efficacy study structure. With the help of Carmago in addition to Nazrat 30 years in the industry, they should be able to come up with a decent 8 weeks Efficacy study format that FDA likes. If the FDA rejects the study structure that Elite proposes, Nazrat should fill out an application for Burgerking.
FDA decision on small scale efficacy is a vote of confidence in Elite and is a prelude to approval. Although Nazrat probably did not sell in the 97 cent spike, Sec filing revealed a bunch of insiders did dump millions of shares.
This schedule is extremely optimistic. Given all the recent delays and missed deadlines, it is not reasonable to to expect smooth sailing. However, It is only a time issue from this point on. FDA requirement of a 8 weeks efficacy study highly suggests confidence in Elite technology. Approval is imminent! There might be those who think they have time to allow MM to drive PPS down some more before buying in because the expectation of no news until mid March. I for one would not take that chance. I am loading up as much as i can before announcement of FDA feedback. That could be mid March or Mid April.. It should not make much difference.
You left out the suspicious Evaluation that inflated PPS to 97 so that insiders can dump millions.
Pfizer’s submission to the FDA is based on the results of two Phase 3 trials in patients with moderate-to-severe, non-cancer chronic pain.
Really? Nazrat will squirm with that question. We all know that was a ploy to drive up PPS for insiders to dump millions. They don't need to do another "Evaluation", If the original Evaluation was legitimate, they just need to release the name of the firm.
The big difference is that Zohydro has already been approved!! Data on Zohydro has already been scrutinized by FDA. Approval of Zohydro ADT is simply to quiet public discontent over Zohydro initial approval. FDA has not put Elite under the microscope yet.
Scam, how so? I would categorized it a "Scam" when management throws out suspicious information concocted to mislead investors ie., Evaluation, " We are on track to file in December."
Its "Pumping" when management greatly exaggerate the timing of material event such as filing and launch dates. When someone tells you they have a college degree, you expect them to at least know their alphabet. As a CEO, Nazrat has been wrong with almost every prediction. Having as 34 years experience and inside information as CEO would allow most people to make some decent decisions, that has not been the case with Nazrat. At some point, one has to acknowledge that it is either something clandestine or mere incompetency.
And by the way, their are many scenarios where Nazrat could have already benefited from Elite. People don't throw out suspicious Evaluation to drive up PPS without rationale.... We are sitting at 10 percent of predicted average value.