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REPLACE THE BOARD OF DIRECTORS AT ELITE PHARMACEUTICALS !!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
After Mikah takes Elite private !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
I think everyone sees how the CEO is using Elite for his own best interest and no savvy investor wants to buy shares in a company when they do not trust the CEO to increase shareholder value !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hey Thanks A Lot King,
IB_
If Elite had new board members that would object to NasRat's dealings, his share count does not matter !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The Board of Directors obligation is to look out for the best interest of ALL shareholders, not just the largest shareholder,
IB_
I wonder why our CEO would continue to GROW his private pharmaceutical company after those statements were in those SEC filings ????????????
Hey Thanks A Lot King,
IB_
More likely a reverse merger with a private company taking Elite private !!!!!!!!
Why did Mikah not cease operations like we were told ????????????
IB_
Oh he will "sell" the company ........... Guess who the buyer will be ??????
Hint: It's private and should have ceased operations years ago,
IB_
Yeah, SXOOF looks real strong today ...........................
LoL LoL,
IB_
Elites 50% ownership of Adderall was enough to keep the lights on ..... I expect once Mikah takes over, some higher revenue drugs will be launched !!!!!!!!!!!!!!!!!!!!!!!!
IB_
When speaking of Elite, who is behind all the "nonsense we've had to endure" ???????????
If Elite going on the Nasdaq exchange, would stop the nonsense, why would the person responsible for the nonsense choose to go there ???????????
"nor all the other nonsense we've had to endure!"
Hummmm,
IB_
Exactly !!!!!!!!!!!!!!!!!!! Elite has ONE decent drug and Mikah owns 50% of it !!!!!!!!!!!!! Mikah should have ceased to exist back in 2014 BUT it didn't .... There is not a question in my mind as to WHY ......................
IB_
Single digit pennies coming soon !!!!!!!!!!!!!!!!!!!!!!!!
LoL LoL,
IB_
A reverse split will only benefit Mikah as the share price will tank after the reverse split ...............................................................
IB_
I was asked back in 2014 if ELTP would be a good, long term investment and my answer was, "If an investor wants to make money, CAN'T TOUCH THIS" !!!!!!!!!!!!!!!
IB_ ;)
The Board of Directors needs to be replaced ASAP...........................
Caskey, Dash & Whitnell should be replaced with 3 new members that will stop the CEO from taking shares and diluting the stock, cut his perks and base his $500,000.00 bloated salary on his performance .......................
If he wants to get rich, he must increase the share price .......... Pressure him to sell Mikah's 50% of the Adderall to Elite for what he paid SunGen and dissolve Mikah !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
"You ACTUALLY think Elite will turn around just a few weeks/months later and say, "But wait.......Mikah just got approved for ANOTHER drug that is 50% or 100% owned by them"."
Exactly !!!! That would be like claiming Mikah would be winding down for years on the SEC filings and then it PoPs up to "Help Elite" by buying SunGen's 50% of the Adderall ............ Hey wait a minute ...........
Point is, what parts of Elite's SEC filings can shareholders actually believe ?????????
Hey Thanks A Lot King,
IB_
That and The Monster load of BS Elite has been dumping on shareholders since August of 2013 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Just think about what personality a CEO would have to have to blame the disgustingly low share price on message board posters ............................................... "NARCISSIST" ?????
IB_
Seems shady doesn't it ??????????????????????????????
Back when Elite needed more shares why did NasRat not just ask shareholders to approve raising the authorized share count instead of converting some of his shares out of the common ?????????? Remember how this was handled ?????????? How it was drawn up ????????
IB_
Read Elites SEC filings, it clearly exist !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Just a little from the latest 10Q
"On December 3, 2018, the Company executed a development agreement with Mikah Pharma LLC ("Mikah”), pursuant to which Mikah and the Company will collaborate to develop and commercialize generic products including formulation development, analytical method development, bioequivalence studies and manufacture of development batches of generic products. Mikah was founded in 2009 by Hakim, a related party and the Company’s President, Chief Executive Officer and Chairman of the Board. As of March 31, 2021, the Company has incurred costs which are $238,451 in excess of advanced payments received to date from Mikah. This balance due from Mikah was offset, in full, against accrued interest due and owing to Mikah pursuant to the Secured Promissory Note, dated May 15, 2017, issued by the Company to Mikah..
In May 2020, SunGen Pharma LLC ("SunGen”), pursuant to an asset purchase agreement, assigned its rights and obligations under the SunGen Agreement for Amphetamine IR and Amphetamine ER to Mikah Pharmaceuticals. The ANDAs for Amphetamine IR and Amphetamine ER are now registered under Elite’s name. Mikah will now be Elite’s partner with respect to Amphetamine IR and ER and will assume all the rights and obligations for these products from SunGen. Mikah Pharmaceuticals was founded in 2009 by Nasrat Hakim, a related party and the Company’s President, Chief Executive Officer and Chairman of the Board.
In June 2021, the Company entered into a development and license agreement with Mikah Pharma LLC, pursuant to which Mikah Pharma LLC will engage in the research, development, sales and licensing of generic pharmaceutical products. In addition, Mikah Pharma LLC will collaborate to develop and commercialize generic products including formulation development, analytical method development, manufacturing, sales and marketing of generic products. Initially two generic products were identified for the parties to develop."
IB_
Oh, there will be a buyout .....................
IB_
I believe Elite will lose many more long term investors to the hand of time before we see any price above $0.11 and even $0.11 is sickening !!!!!!!!!!!!!
If Elite does a reverse split, IT WILL GO LOWER and that is when Mikah will make it's move,
IB_
RAFA was a Bird Man stock, so it is doomed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
How many years have they been working on this audit ??????????
IB_
In my opinion, he will Never issue a legitimate share repurchase program for two reason's.... 1. It may raise the share price/market cap, value of the company AND 2. it would deplete capital that Elite would have when Mikah buys Elite out !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
There is no interest in this stock, "No Buyers" to amount to anything ....... Elite needs buyers to create sellers !!!!!!!!!!!!! Why will no one pay $0.04, $0.10 for these shares ?????????? I believe that investors do not trust Elites management to do what is best for the retail shareholder ......................
As far as "Why are there no sellers" ????????? Well we need Buyers to sell to and there aren't any, also why sell at 3 cent when 0 is not that much of a gamble !!!!!!!!!!!!!!!!
IB_
Oh we will have more trades on the Nasdaq because ELTP will be sold short until it is driven back below a dollar or as low as they want it ............... Remember how we have heard "manipulation, manipulation, manipulation" over the past 8-9 years ??? Well going on the Nasdaq does NOT stop "manipulation" !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The company "Elite" can fight "manipulation" by STOPPING the ongoing dilution and investing in lowering the float while growing revenues !!!!!!!!!!!! The other way is to pay a dividend and we all know that is not in Elites future .....
IB_
Obviously 100% Correct !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
A reverse split anytime within the next two years will cause an even deeper loss in shareholder value and give Mikah a cheaper opportunity to buy Elite !!!!!!!!!!!!!!!!!!
"IF" this new distribution arm of Elite pans out to be profitable and revenues continue to grow, a share repurchase plan would be the best benefit to shareholders at share prices below $0.25 per share,
IB_
Optimism for Elite has been Futile and a losing proposition over the last 9+ years !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It is barely hanging onto 3 cent,
IB_
File a complaint with the SEC with your concerns about the actions at Elite .....
The squeaky hinge gets the oil,
IB_
Poor past performance often times creates a losing investment, as is the case here at ELTP !!!!!!!!!!!!!!!!!!!!!! The share price shows NO SINGS of going to ten cents per share or even 5 cents per share ...... It is closer to two cents per share ................... The company could be merged with Mikah at par value,
IB_
Sure it does, it shows the track record of no shareholder value crated by the CEO of almost 10 years !!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Look at Elite's chart, it will show the CEO's track record at increasing shareholder value, but look at the SEC filings and it will show that he is benefitting nicely !!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
That does seem to be the case ........... The question we must ask ourselves is why and after many years, what action should be taken to correct this problem ??????????
Correct me if I'm wrong but I recall the current CEO coming to Elite in August of 2013 talk of getting Elite's ART approved and I believe there was something about a three year timeframe on that ..... At that time the CEO did not receive a salary, only shares ????? Since that time, the CEO now receives $500,000.00 per year and $500,000.00 of shares per year, a very generous (in my opinion) expense account, PLUS his position at Elite gave him the opportunity to purchase 50% of the Adderall using his private pharma company that should not be in operation at this time per the SEC filings !!!!!!!!
I do not see that Elite's shareholders have benefitted at all,
IB_
Fueled by Elites new CEO (at the time) spewing some outlandish, made-up, silly numbers like $2.10 per share ....... That type of leadership has our investment sitting at 3 pennies per share !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Congratulations,
IB_
ELTP has not seen 5 pennies per share in "quite a while" ??????????????
IB_
I expect 2024 will deliver another 14 MILLION + shares of ELTP to the CEO while Mikah continues to flourish !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Elite trades a 3 cent per share and has traded below 10 cent per share for well over three years .............. Take a look at the chart over the last 9 years and it will show the direction the company is headed ......................
IB_
Yeah, "Hopefully" !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
ELTP is an investment in "HOPE" just like it was in 2014,
IB_
Nah, why would NasRat do that when the board allows him to let Mikah suck off of Elite ??????????????????????????????
Really, why would he ????????????????
IB_
I don't know but if enough ELTP shareholders would reach out to them, they may take an interest !!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
And me, IB_ !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_ ;)