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I just realized that I was never given an explanation as to why you were concerned about the accumulated deficit? I'm still very eager to hear why that is important to you.
Are you implying that the current PPS is an indication that ELTP will never be a valuable stock? If that is the case then why would anyone ever invest in an OTC company? would the fact that they weren't on NASDAQ or AMEX or NYSE preclude them from being worthy of investment?
Isn't the entire point of a company trading on the OTC about speculation? The people that invest in ELTP are looking toward the future. The trends for ELTP are positive for the future. ELTP's future is bright, and backed by their financials. The next 6 months will really show the true story.
you tell me the metric you want to gauge ELTP by and if I can (if it is available in the SEC filings) I'll put together a chart that shows what is happening.
I'm curious. Since nothing ELTP does is good enough, what is it that you propose they do?
Treppel has clearly laid out a path to profitability. That path is accompished through partnering with other companies to produce generic drugs. The partnerships give ELTP a revenue stream that allows them to work on their R&D.
In the past 4 years ELTP has clearly laid the ground work to become profitable. The more the pipeline grows the more they can fund their R&D. The plan is clearly working. What else do they have to do in order for you to give them credit?
What happens to your opinion when ELTP turns profitable? It will happen. If not Q4 of fiscal year 2012, then Q1 of fiscal year 2013. What happens then?
not sure where I mentioned earth shattering growth. I would however say that cutting your losses by 88% is pointing your business in the right direction. Within the next two quarters they will be profitable. That is a big turnaround for a company that was losing 10 million a year.
oh, so the accumulated deficit is meaningless in respect to the future?
please. enlighten me how the 10 years prior to our current CEO impact ELTP beyond the liabilities?
accumulated deficit is completely meaningless when looking at the future of ELTP, or any company.
in the next week we'll see if JR takes his oil wells and goes somewhere else. should be interesting to see where he goes next
Are you suggesting that the patent was abandoned a while ago to give people the opportunity to load shares cheaply? Now that the patent has been refiled it is go time??
you seem to be knowledgeable about the industry. can you tell me why a company like ctic is trading over $1 when it has a similar share structure, but no revenue, and no chance at being profitable any time soon?
the company's financials speak for themselves. End of story.
Or maybe it is March 31,2012 as the Third Closing date of the agreement was March 31, 2011. At this point I'm inclined to not speculate and just wait for an 8k.
Pursuant to the original terms of the Strategic Alliance Agreement (the “Alliance Agreement”) dated March 18, 2009 as filed with the SEC on March 23, 2009 on current report form 8K such filing being herein incorporated by reference, Elite Pharmaceuticals, Inc., a Delaware corporation (the “Registrant”) and Epic Pharma, LLC, a Delaware limited liability company, and Epic Investments, LLC, a Delaware limited liability company and wholly-owned subsidiary of Epic (collectively “Epic” or the “Purchaser”), entered into the third closing of the Alliance Agreement (the “Third Closing”) on March 31, 2011 (the “Third Closing Date”).
The 8k submitted on june 5, 2009 shows that June 3, 2009 is the date of initial closing. Is it possible that the agreement is actually valid through June?
On June 3, 2009 (the “Initial Closing Date”), Elite Pharmaceuticals, Inc., a Delaware corporation (the “Registrant”), conducted the initial closing (the “Initial Closing”) under that certain Strategic Alliance Agreement, dated as of March 18, 2009 (the “Alliance Agreement”), by and among the Registrant, on the one hand, and Epic Pharma, LLC, a Delaware limited liability company (the “Parent”), and Epic Investments, LLC, a Delaware limited liability company (including its successors and assigns, the “Purchaser”), on the other hand, as the same has been amended by the First Amendment (as defined below), and the Second Amendment (as defined below). The Registrant’s entry into the Alliance Agreement was previously disclosed by the Registrant in Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 23, 2009 (the “March 23, 2009 Form 8-K”) and any disclosure contained herein relating to the Alliance Agreement is qualified in its entirety by reference to such exhibit.
I found this from the 8k on March 23, 2009. Probably more updates throughout the years
On the Initial Closing Date, Epic and its employees and consultants will commence using a portion of the Registrant’s facility located at 165 Ludlow Avenue, Northvale, New Jersey (the “Facility”), for the purpose of developing new generic drug products, all at Epic’s sole cost and expense (other than Facility related expenses), for a period of at least three years (the “Initial Term”), unless sooner terminated or extended pursuant to the Alliance Agreement or by mutual agreement of the Registrant and Epic (the Initial Term, as shortened or extended, the “Term”).
ELTP situation is NOT a failure to deliver. ELTP is NOT on the regsho Threshold Security List. The SEC concern is for only a Failure to Deliver.
Here you owe the shorted shares to the buyer but "fail to deliver." This form is called naked short selling
Read more: http://www.investopedia.com/articles/optioninvestor/09/naked-short-selling.asp#ixzz1qc6xWkPY
It is classified as regsho Short Volume. It is not a failure to deliver but Naked Shorted volume.
Lots of discussion lately on short selling of ELTP. I think that you should read through this explanation as I believe it to be an accurate depicition of what is happening.
This was originally posted by lucky, mydog on a different board
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63244573
sorry, but that's not what it shows. it is not an indication of short interest. it shows the total number of shares the market makers went short to make a market. huge difference.
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patchman Share Wednesday, February 16, 2011 6:17:44 PM
Re: None Post # of 24979
Sorry guys but if you are looking for valuable metrics on short sales, looking at the “Short Volume” report is the wrong place to look. This is a report of all “marked” short sales in a given day but many of those shorts are not originated by a short seller but a long seller. Let me explain:
If you are a long and want to sell, you place your order with your broker-dealer (BD), if that BD is not a market maker in that stock they route your trade to a market maker for execution. Let’s use 100,000 shares as the example.
Because the market maker does not want to get stuck with a loss or any shares, they go into the market and execute 9 separate orders at 10,000 shares each. They do so by selling first (short sale) and then turn around and buy the exact same quantity from your BD to close out their position and settle the trade. Since the MM sold in the media market (the one you see) but bought in a non-media market since it was the second leg of the single order, only the short sale is reported to the system. This is called a riskless principle trade.
Notice I said they executed qty. 9 10,000 share trades. The industry set up this process to insure that the market maker is not stuck with the shares. If the MM had to buy the stock first to trade it, they would own 100,000 shares but was only able to execute 90,000 at the price offered. They would be stuck with a 10,000 share investment they do not want. This riskless principle rule allows them to sell what they can and buy the same amount back to cover the trade.
Bottom Line: Much of the short volume number represents routed trades and not short sales. This comes from the regulators I speak to but can be backed by the fact that almost 50% of all trades are represented in this volume regardless of the stock trading.
If you are looking for short sales, go to the bi-monthly short interest report and monitor the FTD report posted by the SEC.
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I'm not Tangerine.
Elite submitted a proposal, if they had received an answer I would expect it would be filed as an 8k. This would clearly be a material event. Without that notification it seems that the delay is on the NJEDA.
I've read this before, very recently, in fact. I'm struggling to find where it discusses the negotiations. I see where it says Elite has sent a proposal and is waiting for a response. Do you have any further documentation about the negotiations?
can you supply a link that shows they have been negotiating for 7 months? that is interesting information.
thanks
This data is almost a year old, but it shows 188
http://www.otcmarkets.com/stock/ELTP/company-info
Specific? lol? why are you addressing this to me? the pps is up about 40% yoy. what stocks can give you that kind of return??
I didn't see anyone saying no....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70749147
Regarding the NJEDA Bonds. From Q1 CC transcript:
David Altshuler - Meketa Investment Group - Analyst
David Altshuler, shareholder. I'm curious about something in terms of the default on the municipal bonds that are financing
the facility. Is this, in any way, an impediment to other people who are considering doing business with you, to see that you're
not up-to-date on this obligation? And, what is being done to remedy this?
Carter Ward - Elite Pharmaceuticals Inc - CFO
Well, with regards to an impediment of people doing business, no, we haven't experienced any problems related to the bonds.
What we are doing with this is, and this is in our reports, we have submitted a request, which we're allowed to do to defer the
principal payments. We're allowed to request up to a five year deferral of principal payments.
We have requested three years and we made the request through our trustee and we are awaiting for a response from the
bondholders. The bondholders have to approve that request, so that's where it stands right now. The three years requested
would be -- on the fourth year we would have to repay the entire three years principal payment plus the principal payment that
is due that year. So that's the proposal that's currently out there.
the risk for these companies is to depend on someone else to make the products for them. If they choose the wrong partner they are essentially losing money. Deciding to partner with ELTP is an opportunity cost that several companies are willing to make. this should be seen as a big positive as I'm sure there are plenty of other companies they could partner with.
I really don't see anyone saying that this is a billion dollar company right around the corner. It has the potential if everything broke the right way, but even then we are talking years.
Very nice to see the volume, especially the buying on a Friday
please tell us what you think ELTP should do differently?
I just saw that they put out a PR 5 days ago that they were looking into an acquisition that would do 100,000 barrels a month. Then today an acquistion possibilty of 10 barrels a month. 10 barrels would seem to be more likely for them since it takes so long for them to move a few hundred barrels off their property. Not that there is any record of that, of course.
Yep, all documents from July through Dec 2011 have been updated. Seems they are short close to 2000 barrels of oil, but there isn't a single document that shows when the oil left the premisis. I would expect that one of those months would show the opening stock over 2000 barrels, and then the closing stock would indicate that it was removed. Yet that doesn't happen. it is just all gone. My guess is that means FXPT isn't buying the oil that was already there, which would be roughly $200,000 worth of oil and about the only legitimate reason to purchase Renfro's assets.
They open fine for me. It just seems the numbers are off a bit???
Admiral,
Can you tell me what is missing here?
Posted October 2011
http://ucmwww.dnr.state.la.us/ucmsearch/UCMRedir.aspx?url=http%3a%2f%2fdnrucm%2fucm%2fgroups%2fconservation%2fdocuments%2fooc%2f4003388.pdf
posted February 2012
http://ucmwww.dnr.state.la.us/ucmsearch/UCMRedir.aspx?url=http%3a%2f%2fdnrucm%2fucm%2fgroups%2fconservation%2fdocuments%2fooc%2f4105013.pdf
By using the word propaganda you are intentionally attaching a negative connotation to what ELTP is doing. When in reality putting out a PR to share their progress is a standard business practice. In fact a PR is in their best interest for sharing material events to avoid claims of insider trading.
News Releases and Material Change Reports
1. When do I need to issue a news release?
The purpose of a news release is to ensure that all members of the investing public have equal access to information in order to make informed investment decisions.
Whenever there is information on an occurrence that is “material” to the way your company does business you must issue a news release.
News releases may also be issued for public relations purposes, to keep the public and investment community informed of your company’s performance or activities e.g. current financial results, corporate updates.
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2. What should be in the news release?
The title of the news release should be clear as to content.
Information should be concise and accurate – not promotional.
The name and number of a responsible contact must be included.
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3. Do I need to use a newswire service?
All material news releases must be distributed through a recognized newswire services e.g. Marketwire, CNW Group, Canada Stockwatch, Market News Publishing. Each of these companies offer similar services with some variance in pricing and the distribution packages they offer.
If ELTP is doing business with Actavis then I believe that they are relevant to the conversation.
Are you really insinuating that ELTP's strategic goal setting isn't important?