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A good read except that the article is highly misleading. The author states that Elite may potentially bring in tens of millions from the antimetabolite ANDA. That is the total market for all competitors. If no other competitors existed sure that I’d what Elite would be after, but not the case. Highly misleading that leads to unfortunate misinterpretation from inexperienced investors.
Like Elite? Come on.
Purdue has been able to file new patents for OxyContin 13 times with the US Patent and Trademark Office over the past decade, thereby extending its exclusive selling rights on the drug through 2030.
They don’t want competitors to know they have nothing going on. Lol
Except no one will buy it. Can’t be price competitive. which is why CEO says it’s not being pursued multiple times. Give it up.
You agree simply showing the level of inconsistency and incompetence of leadership.
Beg to differ and so would the SEC. Wonder why Elite reports study results? Because it is a material event to be reported.
Of course, he decided to postpone a material event. Lol
Why would this not happen on NASDAQ? If company does nothing to get word out about prospects, future plans, forecasts, growth, strategy, etc it doesn’t matter if they are on the OTC or NASDAQ. There would be a little buying overtime for index/mutual funds, but wouldn’t be a significant amount. No good story (or trust to get there) = stagnant share price
The only monster in the room is the monstrous amount of outstanding shares.
100% agree that this isn’t the right timing. I’m not pushing for that. Nasrat’s strategy is to devote all excess cash to R&D and build out sales infrastructure. He’s not going to do a buyback, as much as I’d like him to. Knowing this. ES is only way to clean up the capital structure mess.
They’ll have to RS to get to NASDAQ. They can’t organically get there.
I believe he passed away.
There is no June 31st. :)
They do have to wait until audit is complete, for which smaller companies can be deprioritized depending on portfolio of auditor.
Hopefully you can find out well before June 31st comes around. Might be waiting a while. :)
And how do you calculate public float without share price? That’s 50% of the calculation.
They used to fall under the accelerated filer status several years back when share price was much higher.
It’s what happens when he’s chairman as well. Roles need to be split.
She might have some internal financial reporting responsibilities. But from IR standpoint, they don’t do any investor outreach, no conferences, no presentations, no PR, etc. her IR job is absolutely bare minimum.
What can IR influence while on the OTC. They can start getting story out, but no funds can buy it. You’re not going to get any sell side appointments or roadshows going.
Temporary hiatus. We know full well it didn’t liquidate. Ridiculous post.
“In the process” and never happened. Living in the past isn’t reality. You know very well Mikah exists. Their Adderall % of profit isn’t disappearing into the ether.
If Nasrat keeps Elite on the OTC permanently the share price will remain suppressed, which could be advantageous to a Mikah buyout. I don’t think a buyout would happen, but I could see an Elite/Mikah packaged deal that may include a small merger before selling to another party.
I agree. I’m all for giving out shares to increase ownership as company grows, but there needs to be a buyback that soaks up this amount + more to get outstanding shares to more normalized levels.
Q1 Apr-Jun might be a cash burn quarter. Buying all or much of the float will be near impossible. Buyback program has to be approved by BOD and publicly announced. Stock price would rise on that news alone. I agree they should have a small & steady buyback to clean up capital structure while revenue grows. Seems like CEO can only focus on one thing at a time.
Why not? If nothing changes with a mix in investors from retail to larger funds, yes it will continue to happen. Investment funds (that hold long term) stabilize share price, not retail shareholders. Until something noteworthy with a significant financial impact for Elite happens, it’s the same old song and dance.
It would if CEO continues to do nothing on IR side. Retail shareholders do not stabilize a share price.
Yes there should be no surprise, but I won’t be surprised when sales drop followed by a drop in share price.
I believe that to be a retail shareholder myth.
And why still post?
Company is growing. I wouldn’t say rapidly, but it is growing. It is CFP and has been for a while. These are in publicly released financials.
Big question is how long will it take for Elite to get back to CFP and growth after Lannett canceled the partnership and they have to rebuild sales structure? How much cash will they burn? Do they slow down R&D until sales and cash flow stabilize?
R&D has only had only one solid win in Nasrat’s tenure, Adderall IR, through partnership with Sungen. Throwing darts would have had a better R&D outcome. Adderall ER has the potential, but Lannett couldn’t sell it.
Let’s see what Kirko can do. Getting back to CFP is a solid start, but not expecting it for Q1 reporting released in July as they were building inventory.
Sucks for Elite. Since Lannett has no future relationship with Elite, they will not be given any sort of priority to be paid. Crappy situation for Elite and this should be called out as a subsequent event or Management notes in the 10K as a risk.
There’s reason to celebrate if he stays around until May 1st.
That’s the risk of a shareholder. There may be some lawsuits, but they won’t have priority in the restructuring. Only the lawyers will win out.
For the current LCI/LCIN shareholders:
…and the Company's existing stock will be cancelled…
Except that pesky SafeHarbor clause that’s read at the beginning of every conference would have to be ignored.
My thoughts are the same as what Nasrat said about the FDA, “no one can stop [me]”. It is that audacity, that sheer blind ignorance that worries me about being the CEO. To think he cares for current shareholders is blindness on their part.
Why now when the majority of our revenue stream is on the line? Not the right timing.
Those are just excuses. You don’t call out the company/boss to burn a bridge or if there is a separation agreement in place. You simply shut up and talk about it privately.
I fear when there is a quick CFO rotation more than CEOs. They are closer to the books. I think in this case, CFO is an exec and when their voice isn’t heard they leave. Nasrat has a passive BOD in his pocket and does as he desires.