HOLDING STRONG!
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Profit sharing payments will really start to show in Elite's June report so operating cost should be under control and better revenue coming in.
For those screaming dilution - go back through Elite's SEC filings.
You have to go back to 5/3/2017 to find Nasrat's last FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES where Nasrat's
common shares were returned to the company in exchange for the Series J Convertible Preferred Shares and warrants issued by the company.
If you look at the S-1 and S-3 forms you will see that Elite has been very conservative with the use of their stock. Mostly comparatively small amounts issued to Lincoln Park Capital Fund to fund research and operations which is smart instead of borrowing and taking on huge debt.
Nasrat will not through the company away as he is focused on success! And success will be selling or merging the company so that is why I think he is getting the convert to common.
This company's S-# forms are not what you see for a typical OTC company - Elite is not bleeding investors - Elite is building the company!!!
Thx Chasing, Elite is doing great, again looking at the Lannett quarterly $$$ and knowing that the profit sharing doesn't really show for more likely 6 months later - LCI's BIG spike in $$ for CNS drug occurred in Jun-Dec 2019 which means a jump in $$ for ELITE ELTP in Jan-Jun 2020.
$$Millions$$ rolling in for ELITE NOW!!!
Elite as related to Lannett Central Nervous System report
Elite Adderall IR approval 7Dec2018
Lannett quarter CNS 31Dec2018 - $6,187,000
Lannett quarter CNS 31Mar2019 - $9,424,000
Lannett launch Adderall IR 16Apr2019
Lannett quarter CNS 30Jun2019 - $11,362,000
Lannett quarter CNS 30Sep2019 - $19,257,000
Elite Adderall XR approval 12Dec2019
Lannett quarter CNS 31Dec2019 - $19,331,000
Lannett launch Adderall XR 31Mar2020
Lannett quarter CNS 31Mar2020 - $18,566,000
Interesting to see Lannetts growth with CNS as related to Elites approval and launch.
I believe Jan-Mar 2020 was good $$ for Elite's Adderall IR and maybe a couple of $$ for XR.
The really big money for IR and XR will show when Elite reports 1st QTR results in August 2020.
AND GROW EXPONENTIALLY EVERY FUTURE QUARTER!!!
Jan-Mar 2020 was messed up for every business so don't read too much into it. Elite is still operating and making $millions
Bulldog, reverse merger, good catch!
Elite ensuring everything is perfect for a merger and sale!!!
Under the proposed rules, a reverse merger company would be ineligible for listing on the NYSE unless the combined entity had, immediately prior to filing its initial listing application:
traded for at least one year in the U.S. over-the-counter market, on another national securities exchange, or on a regulated foreign exchange following the consummation of the reverse merger, and (i) if a domestic issuer, filed with the SEC a Form 8-K including all of the information required by Item 2.01(f) of Form 8-K, including all required audited financial statements, or (ii) if a foreign private issuer, filed the information described in (i) above on Form 20-F;
maintained on both an absolute and an average basis for a sustained period a minimum stock price of at least $4 per share; and
timely filed with the SEC all required reports since the consummation of the reverse merger, including the filing of at least one annual report containing audited financial statements for a full fiscal year commencing on a date after the date of filing with the SEC of the filing described in the first bullet above.
In addition, a reverse merger company would be required to maintain, on both an absolute and an average basis, a minimum stock price of at least $4 per share through listing.
A key point is that the NYSE specifically exempts or excludes certain reverse merger companies from its proposed heightened listing requirements. For example, a reverse merger company listing on the NYSE in connection with an Initial Firm Commitment Underwritten Public Offering2 occurring subsequent to, or concurrently with, the reverse merger that generates net proceeds to the company of $40 million or more would be exempt.3 Similarly, companies that qualify for initial listing under the NYSE’s special purpose acquisition company, or “SPAC,” listing standards would be excluded from the NYSE’s definition of a reverse merger company.
These requirements would be in addition to the NYSE’s other listing requirements. Furthermore, the NYSE would retain the discretion to impose even more stringent requirements on a case-by-case basis. Among the factors that might trigger further NYSE scrutiny are: an inactive trading market in the company’s securities; the existence of a low number of publicly held shares that were not subject to transfer restrictions; no filing of an SEC registration statement or other filing subject to review by the SEC; and disclosure of a material weakness or weaknesses in internal controls identified by management or the company’s auditor for which an appropriate corrective action plan had not yet been implemented.
As a comparison, the Nasdaq proposed rules would prohibit a company going public by combining with a public shell from applying to list until six months after the combined entity submits all required information about the transaction, including audited financial statements, to the SEC. Further, the Nasdaq proposed rules would require that the company maintain a $4 per share bid price on at least 30 of the 60 trading days immediately prior to submitting the application. Finally, Nasdaq would not approve any reverse merger company for listing unless it had timely filed its two most recent financial reports with the SEC if it is a domestic issuer (this could be two quarterly filings or a quarterly and an annual filing) or comparable information if it is a foreign private issuer.
Did brokers screw up and not send proxy or was it Broadridge Financial not handling it correctly?
From filing -
brokers holding shares in “street name” on behalf of beneficial owners did not have discretionary authority to vote those shares on the Original Amendment Proposal without direction from the beneficial owners. However, Broadridge Financial Solutions (“Broadridge”) later determined that the Original Amendment Proposal was a routine matter under NYSE rules. As such, the proxy cards prepared by Broadridge and sent to its brokers (who, in turn, sent the ballots to their clients) clearly indicated that the Original Amendment Proposal was routine.
Again, it looks like ELITE is doing the right thing and making sure that everything is correct to meet NYSE rules.
Again, how many OTC stocks work so hard to make sure they are in compliance with NYSE rules???
Key points from filing is ELITE is following NYSE rules and protecting shareholders!
READ the filing and you will see that Elite is doing the right thing and protecting shareholders! Making sure that everything is correct for up-listing, merging, of being bought by a much bigger player.
How many OTC stock do you trying their best to make sure that they have everything right in accordance with NYSE rules???
Filing yesterday by Elite was for "an abundance of caution" and "make sure that stockholder votes in favor of the amendment have been accurately tabulated!"
NOTE: This Certificate of Amendment is identical in all material respects to a Certificate of Amendment which was filed with the Nevada Secretary of State on December 5, 2019. The amendment to the Corporation’s Articles of Incorporation set forth herein has been re-adopted by the Board of Directors and stockholders of the Corporation and is being filed out of an abundance of caution, to make sure that stockholder votes in favor of the amendment have been accurately tabulated.
The beginning of Article IV, Section 4.1 is amended and, as amended, reads as follows:
“4.1. Authorized Capital Stock. The aggregate number of shares which this Corporation shall have authority to issue is One Billion Four Hundred Forty Five Million Fifteen Thousand (1,445,015,000) shares, consisting of (a) One Billion Four Hundred Forty Five Million (1,445,000,000) shares of Common Stock, par value $0.001 per share (the “Common Stock”) and (b) Fifteen Thousand, (15,000) shares of Preferred Stock, par value $0.01 per share (the “Preferred Stock”), issuable in one or more series as hereinafter provided. A description of the classes of shares and a statement of the number of shares in each class and the relative rights, voting power, and preferences granted to and restrictions imposed upon the shares of each class are as follows:”
Elite is following NYSE rules!
The filing yesterday was "in an abundance of caution"!
In preparation for the Annual Meeting, we and our advisers assessed whether the Original Amendment Proposal was routine or non-routine under applicable New York Stock Exchange (“NYSE”) rules. That determination is based on the particular facts and circumstances associated with a proposal to increase the number of authorized shares; some share increase proposals are considered routine and others are considered non-routine. Based on our assessment, we indicated in the Annual Meeting Proxy Statement that the Original Amendment Proposal was a non-routine matter under NYSE rules and that, accordingly, brokers holding shares in “street name” on behalf of beneficial owners did not have discretionary authority to vote those shares on the Original Amendment Proposal without direction from the beneficial owners. However, Broadridge Financial Solutions (“Broadridge”) later determined that the Original Amendment Proposal was a routine matter under NYSE rules. As such, the proxy cards prepared by Broadridge and sent to its brokers (who, in turn, sent the ballots to their clients) clearly indicated that the Original Amendment Proposal was routine. The proxy cards specifically included the statement: “If you do not provide us with your voting instructions, we will vote your shares at our discretion on those proposals we are permitted to vote on by New York Stock Exchange rules.” As a result, the vote on the Original Amendment Proposal was conducted properly as a routine matter (with brokers using discretionary authority to vote in favor of the Original Amendment Proposal) and shareholder votes were tabulated correctly. The Share Increase Proposal was approved by the requisite vote under Chapter 78 of the Nevada Revised Statutes and our Articles of Incorporation and Bylaws.
We are confident that the vote on the Original Amendment Proposal was entirely proper and the Share Increase Amendment was therefore adopted by our Shareholders and is now effective. However, we recognize the inconsistent description of the nature of the proposal under NYSE rules in the Prior Proxy Statement and the proxy card. In an abundance of caution, we have determined to permit Shareholders to again approve the Share Increase Amendment, this time with a consistent classification of the proposal as routine in all solicitation materials and proxy cards. Upon Shareholder approval, we will file a new amendment to our Articles of Incorporation reflecting such approval (the “Amendment”). We have not issued any of the additional shares authorized by the Share Increase Amendment, and unless and until the Share Increase Amendment is again approved by our Shareholders, we do not intend to issue or reserve for issuance any such additional shares.
ELTP annual report in 64 days!
I think ELTP will report around June 19th.
Could be sooner but based on last year's date I think the 19th.
Thanks Chasing, yes 20 approved drugs.
Had 10 stuck in my head this morning, like 10 bagger near term.
Nasrat was Right!
It was a smart move to sell Elite's pain products because even with DEA increasing quotas - IT DOES NOT STOP THE OPIOID LAWSUITS! Also, Elite needed to stay at the 10 or less approved drugs to keep the FDA's LOWER fee rate so they had to dump the one's that they believe would not provide significant revenue compared to their currently manufactured drugs.
Elite still has OXYCONTIN ANDA on hold and could dust that off and pursue that path.
I believe Elite's move to the CNS stimulants is a much bigger and SAFER and active market to pursue.
CNS Stims are doing good for ELITE right now!
SShhhhh! Be quite! I want to buy all the ELTP shares I can at $0.06 before the next conference call report which will be the Annual report in JUNE.
UPDATE THE CHART! Who updates Elite's launch date for generic Adderall XR on the chart???
Math please, so with Elite's increase in revs from generic Adderall ER we are expecting a $20 million fiscal year. Looking forward with Adderall XR, the next year I am thinking ELITE will see over $100 million in revs!
Any math experts working projections???
Considering the crazy world that we have been in for the past months, ELITE and Lannett were still able to get this done!
I was actually expecting a little delay in launch as everything with drug companies has to be insane right now.
Amazing job ELITE!!!!!!!!
Lannett marketing vs launch?
I believe Lannett has been marketing Elite's generic Adderall already! Some of the labels that were posted over the past days show a earlier marketing date and they probably really kicked off marketing after the approval.
So the launch would be the first shipment.
dest_golf, "time is on my side"
So much growth in the past year.
Huge growth in the next year!!!
So what if Nasrat wears his frustration on his sleeve and vents in public, maybe not a good for all of us cheerleaders but it does not change the fact that ELTP's revenue has grown exponentially and will be showing a profit by the time of the next call. AND then those profits will grow exponentially!!!
N2K, goal is getting ELTP to NASDAQ and I believe Nasrat may either sell company, merger then be a board member, or Nasrat becomes a chairman and they get a new CEO. Keep in mind that with two of these options Nasrat may not sell his shares and watch ELTP continue to GROW bigger. That would explain Nasrat's statement of "I always take the opportunity to update you guys on other things that are happening in the company. And once we get to a major stock exchange that will probably stop."
For all those saying Nasrat is wrong and CEO's always are on the call I say "can't see the forest for the trees".
Elite's generic Adderall IR is looking to be running about a little less 5% of the market for the year. So, expecting same to ramp up for generic Adderall IR so I will be looking for about $60 million to $80 million in sales coming to ELTP in a little over a year!
Lannett 2020 first quarter,Central Nervous System sales was $19,257,000
Lannett 2020 first quarter,Central Nervous System sales was $19,331,000
That is a increase of $74,000 in net sales.
So, any increase is GOOD for ELITE. That tells us that Elite's quarterly report will increase in sales and then you add in the commercialization revenues for generic adderall IR. Also, Elite's products sales by Glenmark have been increasing. Overall, looking good for the quarterly report.
SHORTAGE! INCREASED DEMAND!!!
In reviewing the reasons given for the shortage by the Adderall manufacturers, INCREASE IN DEMAND is stated by two generic manufacturers/distributors.
That is great for ELITE!!!
BUY ALERT! Levi & Korsinsky should be used as a buy ALERT as stocks go up after they make an announcement, LOL!
GO ELTP!!!)
wamu, You are saying that you are looking to BUY $15K in ELTP when you say dump 15K in this puppy, right?
Welcome to ELTP!
NO RS! All this talk about a reverse split is at least 2 to 3 years oee longer away.
Nas Hakim has stated that he wants to get to NASDAQ organically meaning when ELTP meets the uplisting requirements Elite will apply. I do not see a reverse split until we are already trading on NASDAQ and it may not even be necessary then with the multi billion markets Elite will have a piece of.
All this chatter about a reverse split is either dreamers wanting a $50 stock by tomorrow or simple BS to scare otherwise investors away!
Nas Hakim has been a great CEO realigning ELTP to profitable generics which means he is very strategic and wise in his decisions. He will not consider a reverse split until conditions are perfect and by that time ELTP may not need it or will be BOUGHT or MERGED with a major pharma company!!!
Q ending Dec 2019 will be AWESOME! $600,000 for the sale of Percocet and Norco and $750,000 milestone payment from Lannett for Adderall ER AND expecting sales greater than $4.6 million from last Quarterly report AND profit splits from generic Adderall ER will start showing MORE!!!
The February Quarterly conference call is going to another record breaker for ELTP!
The next report will be JUNE adding in fees from sales of the just APPROVED generic Adderall ER and will be amazingly HUGE for ELTP!
I am seeing $ within the next 7 months! AND $$$$$$$$ (that is DOLLARS per share) within the next year!
Buffett says if you don't feel comfortable owning a stock for 10 years, you shouldn't own it for 10 minutes.
I have been holding ELTP for several years now so I do not mind holding for another 5 or 6 years. My retirement plan :)
ELTP Revenues report on Tuesday - $5 million, $6 million, or more??
What are you thinking???
$$$$$$$$ from commercial shipments of Methadone Tablets, Isradipine Capsules, Trimipramine Capsules, and Amphetamine IR Tablets (Adderall) will start to be really reflected in the next quarterly report that will be in AUGUST 2019 or about 7 weeks away!
The first commercial shipment of Methadone Tablets pursuant to the Glenmark Alliance occurred in November 2018.
The first commercial shipment of Isradipine Capsules pursuant to the Glenmark Alliance occurred in March 2019.
The first commercial shipment of Trimipramine Capsules occurred in April 2019.
The first commercial shipment of Amphetamine IR Tablets, a generic version of Adderall, with strengths of 5mg, 7.5mg, 10mg, 12.5mg, 15mg, 20mg and 30mg, pursuant to the Lannett-SunGen Product Alliance occurred in April 2019.
March 31, 2019 Fair value of the Company's Common Stock $ 0.990!!!!!!!!
Go to page F-26 of the 10K.
That is up from $0.10 for 2018.
Approvals, pending approvals, current operations and sales????
SOMETHING caused them to raise the FAIR VALUE significantly!!!!!!!!
springnut, nothing about reveres split in the 10K!
Here is what it says about the Annual Shareholders’ Meeting.
ITEM 9B OTHER INFORMATION
Annual Shareholders’ Meeting. The Company will be holding an annual shareholders’ meeting on or about September 25, 2019 (the “2019 Annual Meeting”. Shareholders may submit written proposals to the Company on matters appropriate for shareholder action at the 2019 Annual Meetings by following the rules of the SEC and the requirements of the Company’s Amended and Restated Bylaws. The Company must receive proposals intended for inclusion in its proxy statement and proxy card for the 2019 Annual Meeting no later than June 25, 2019. Any such proposal when submitted must be in full compliance with applicable law, including Rule 14a-8 of the Exchange Act, and the Company’s Amended and Restated Bylaws. Additionally, the Company’s Amended and Restated By-Laws permit shareholders to propose business to be considered and to nominate Directors for election by the shareholders at future annual meetings. To propose business or to nominate a Director for the September 2019 Annual Meeting not for inclusion in the proxy statement and proxy card for that meeting, the Shareholder must deliver written notice to the Company on or before June 24, 2019 setting forth the information required to be included in such notice under the Company’s Amended and Restated Bylaws. Any such proposal or nomination when submitted must be in full compliance with the Company’s Amended and Restated Bylaws.
If a Shareholder gives notice of a proposal or a nomination after the applicable deadline specified above, the notice will not be considered timely, and the Shareholder will not be permitted to present the proposal or the nomination to the Shareholders for a vote at the meeting.
In 10 days or less - ELTP Revenues $$,$$$,$$$ increasing in next financial report!
Elite now has Glenmark marketing Isradipine, Trimipramine, Methadone, and Phendimetrazine with a total market size of approximately $42,500,000!
Elite now has Lannett marketing Generic Adderall with a total market size of approximately $365,000,000!
Most of the marketing partner changes started in October 2018 so I expect to see a modest rise in revenues from Glenmark partnership.
The Lannett partnership is just kicking in this May 2019 but there could have been sales going on before May so it could be a surprise. Will we see any indication of revenues or future revenues in next financial report?? Maybe/maybe not. BUT, there could be big $$,$$$,$$$ starting to add to the financial report in August 2019.
I SEE A $$,$$$,$$$ TRAIN COMING - GET OFF THE TRACKS AND GET ONBOARD OR GET RUN OVER OR LEFT BEHIND!!!!!!!!
ALL shares must be accounted for in a buyout!
TWO potential areas for foreign countries establishing businesses in the USA that may be contenders to buy ELITE! I think the probability is getting more likely
Glenmark is Elite's connection to India.
Glenmark Pharmaceuticals Ltd, a research-led integrated global pharmaceutical company, today announced that its Board of Directors has given an in-principle approval to spin off the innovation business into a new company in the US. Setting up of the new company will provide an enhanced focus to the innovation business and help accelerate the pipeline towards commercialization.
(They will definitely be looking at manufacturers to acquire in the USA that are already established).
SunGen is Elites connection to China
SunGen - Jingjun “Jim” Huang - Ascendia Pharmaceuticals
Ascendia has also opened a subsidiary in China in late 2014 to serve formulation development needs of the Chinese market.
Link - http://ascendiapharma.com/Leadership.html
dig deeper - very smart guy.... advance research in delivery tech, major connection back to billionaires in China.
Link to SUNGEN in China - http://www.strandbio.com/en/rd.php
Humanwell Puracap Pharmaceuticals - Wuhan Co. Ltd., located at Wuhan, China.
Do the google search and learn what you want.... I have seen enough and it is a great connection for ELTP.
$$,$$$,$$$ In 2 weeks or less - ELTP Revenues $$,$$$,$$$ increasing in next financial report!
Elite now has Glenmark marketing Isradipine, Trimipramine, Methadone, and Phendimetrazine with a total market size of approximately $42,500,000!
Elite now has Lannett marketing Generic Adderall with a total market size of approximately $365,000,000!
Most of the marketing partner changes started in October 2018 so I expect to see a modest rise in revenues from Glenmark partnership.
The Lannett partnership is just kicking in this May 2019 but there could have been sales going on before May so it could be a surprise. Will we see any indication of revenues or future revenues in next financial report?? Maybe/maybe not. BUT, there could be big $$,$$$,$$$ starting to add to the financial report in August 2019.
I SEE A $$,$$$,$$$ TRAIN COMING - GET OFF THE TRACKS AND GET ONBOARD OR GET RUN OVER OR LEFT BEHIND!!!!!!!!
ELTP Revenues $$,$$$,$$$ increasing in next financial report!
Elite now has Glenmark marketing Isradipine, Trimipramine, Methadone, and Phendimetrazine with a total market size of approximately $42,500,000!
Elite now has Lannett marketing Generic Adderall with a total market size of approximately $365,000,000!
Most of the marketing partner changes started in October 2018 so I expect to see a modest rise in revenues from Glenmark partnership.
The Lannett partnership is just kicking in this May 2019 but there could have been sales going on before May so it could be a surprise. Will we see any indication of revenues or future revenues in next financial report?? Maybe/maybe not. BUT, there could be big $$,$$$,$$$ starting to add to the financial report in August 2019.
I SEE A $$,$$$,$$$ TRAIN COMING - GET OFF THE TRACKS AND GET ONBOARD OR GET RUN OVER OR LEFT BEHIND!!!!!!!!
Substance Abuse Treatment Market Is Set to Grow According to Latest Forecasts 2018 – 2026
Market Research Gazette April 12, 2019
Several unmet needs in the global substance abuse treatment market offer lucrative opportunities to existing players and new entrants, globally. Examples of recent developments in the field include submission of provisional patent application to the USPTO (United States Patent and Trademark Office) for proprietary pure cannabidiol compositions, by Normaco in October 2018, approval of SUBLOCADE, by the FDA, launched in the U.S. in March 2018, and U.S. FDA approval for the ANDA for methadone hydrochloride (5 mg and 10 mg) tablets for Glenmark Pharmaceuticals and its strategic partner Elite Pharmaceuticals, Inc in August 2018.
Destiny, LOL, man I loved BK.... double whopper with cheese please!
Elite will drive other companies to BK as they gain market share for the drugs they manufacture!
Isradipine revenues already INCREASING!!!!
Elite Pharmaceuticals, Inc. Reports Financial Results For The Third Quarter Of Fiscal Year 2019
"Consolidated revenues for the Third Quarter were $2.7 million, an increase of approximately 6% as compared to revenues for the comparable quarter of the prior fiscal year. The increase in revenues was largely attributed to the launch of Elite's methadone products during the quarter and increases in revenues relating to the manufacture and sale of Isradipine, Phentermine and Naltrexone."
After Dr. Tanya Simuni's presentation at the 2019 AAN Annual Meeting we will see even more increases in revenues from Isradipine$$$$$$$$
LOL, I did go to the AAN site - it is there!!!!
Ok, I will walk you through -
Go to www.aan.com
Scroll to bottom
Click on "ANNUAL MEETING"
Click on "PROGRAM"
Click on "SEARCH THE PROGRAM"
Check the box for "Tue May 7"
Click "SEARCH"
Scroll down to "Clinical Trials Plenary Session"
Click on "Clinical Trials Plenary Session"
Scroll down to "Program Speakers - Tentative"
THERE IT IS!!!!
11:00 AM - 11:15 AM
A Phase 3 Study of Isradipine as a Disease Modifying Agent in Patients with Early Parkinson’s disease (STEADY-PD III): Final Study Results
Tanya Simuni MD
IT WILL HAPPEN!!!!!!!!
SO, we will see on MAY 7, 2019