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I just find it obvious that there is self-dealing going on and I take the explanation as to why the CFO was let go, with a grain of salt because I do not trust the CEO !!!!!!!!!!!!
To just dismiss a question like, "why did you not loan money to Elite when they had the opportunity to buy SunGen's 50% of the Adderall", just makes me think of a narcissist I once knew ...................
Notice how he never admits that HIS dilution hurts us, not HIM because he get's the shares from the dilution .................. also I'm sick of hearing him speak as if "The Board" & "Mikah" & "Elite" are all controlled by three entities, THEY'RE NOT !!!!!!!!!
IB_
He continues to refer to Mikah, Elite and The Board of Directors as 3 separate entities….. Does he not control all 3 ??????
IB_
A lot of “IF’s” in the call !!!!!!
IB_
As was said earlier:
“ Doesn't matter.
Nobody trusts the CEO”
Hey Thanks A Lot King,
IB_
Me too,
IB_
Just as I have been saying for years ………………….
Hey Thanks A Lot King,
IB_
I can answer that:
Because if he were to buy $3 Million worth of Elite on the open market, the money would not go to Elite "AND" it might raise the share price which would give him less shares as part of his pay package !!!!!!!!!!!!!!!!!!! If he were to buy $3 Million worth of Elite shares from the Authorized it would go to Elite, cause more dilution and not help the share price ................
Hey Thanks A Lot King,
IB_
Yes it does !!!!!!!!!!!!! But like the Mikah dealings and the loan to Elite, if the other 3 Directors were to say "NO" that is not in the best interest of Elite and it's shareholder's, it would not happen ............... If he arrogantly proceeded, there would be consequences !!!!!!!!!!!!!!!!!!!!
IB_
Yes, but that does not give his vote any more power ..... If you, The King & I were the other 3 board members for example ....... and we all three voted that The King be the chairman, he would be !!!!!!!
I just wish one or all of the ex CFO's would spill the beans on what is going on,
IB_
Not if the other Directors go against him .............. The CEO works at the pleasure of the Board of Directors of which this CEO is but one !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
We need to replace at least 3 of the directors with 3 that will look out for the best interest of ALL shareholders,
IB_
That has already been answered !!!!!!!!!!!!!!!!!!!!!!
IB_
"How.much was their loan before and what was the interest rate"
Yes I am aware of the things NasRat "says", but he could have loaned Elite the money rather than scarfing it up using his private company, Mikah and everything about the deal would be above board and the arrogant/self-serving CEO would not feel the need to keep the price paid a secret !!!!!!!!!!!!!!!!! Plus, think how Elites revenues would look,
IB_
Now, tell us why NasRat can loan Elite money now but wouldn't loan Elite money to buy the other 50% of the Adderall so we all see the benefit ????????????????
IB_
The EWB Term Loan bears interest at a rate of 7.98% !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Elites Board of Directors needs to be replaced !
Hey Thanks A Lot King,
IB_
Yeah, and what interest rate was Elite paying EWB .....................................
I can't believe the gall he has,
IB_
I don’t think “Dianne” or anyone involved in the “CC” would support a change in The Board of Directors ???? In my opinion, there is no “question”, we need new Directors !!! This “next quarter”, “next year”, “next CC” BS has went on for about 7-8 years too long ………
I put some time in on the Ibox as well and what I posted is what I believe to be the truth !!! I do not think that ELTP is a viable investment until I see some changes…. Not to mention, RED adds some color!!!
Hey Thanks A Lot For Lining It All Up King !!!
It looks nice,
IB_
Same Board of Directors, no rise in PPS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Hummm, Elite was driven down to the $0.03 range years ago, long before anyone was calling for a change in the Board and it has remained in this price range for years before I called for a change in the Board of Directors !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
NasRat may want to imply that Elite's message board is the reason for the low share price but I completely disagree !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Which will happen first, The Board of Directors will start bringing shareholder value to all shareholders or The Board of Directors will change ????????????????
Hey Thanks A Lot King,
IB_
Looks Nice !!!!!!!!!!!!! Now if shareholders would join together and replace 3 of the 4 board members at Elite, the company may look as nice !!!!!!!!!!!!!!!!!!!!!!!
Hey Thanks A Lot King,
IB_
Did this loser just set a new low for the year, today ?????????? LoL LoL
Why would we be told that Mikah is winding down years ago when it has only grown and became intertwined with Elite, what is NasRat's purpose for not following the SEC filings ??????????????????????????????
IB_
Elite's "Monster" has arrived in the form of Mikah !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Mikah is the "Monster" we have been hearing about for years and I believe it is here to devour Elite in the end .............................
Hey, Thanks A Lot King,
IB_
I think that if anyone is manipulating this stock, it is someone who has an interest in buying the company for as cheap as possible and is accumulating as many shares as possible "and we know that's not on the open market" that will not need to be bought !!!!!!!!
Keep the share price low while diluting the outstanding by around 14 Million shares per year and if anything, that pushes the share price lower which in turn lowers the market cap/value of the company ....... All that needs to happen is "someone" puts an offer on the table and the Board of Directors accepts it ..........................
DONE DEAL,
IB_
When we hear the next two "CC"'s and nothing changes, where do we go from there ??????????? Just wait for the next and the next, kicking the can down the road for who knows how long while we gain nothing ????????????????????????
IB_
He is NOT going to resign ...... The only hope I feel we have, is to replace The Board of Directors !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Well, we are "down again" and yes, we need to replace The Board of Directors !!!!!!!
IB_
Elite's debt is higher than it's EVER been !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Ok, if the shares are still trading below $0.05 in September, will there be a push to replace the Board of Directors ?????????????????????????
I mean how long should we put up with this ????? Almost 10 years of nothing but LOSS OF VALUE ..... We need to take action and stick together to make changes, right ????
IB_
I was seeing this same BS concerning Elite back in 2011, 2012, 2013 and so on, and here we are at 3 pennies per share, right where the CEO has lead us !!!!!!!!!!!!!!!
"We have some major milestones upon us and results of much of the work that has been done behind the curtain" ....Complete rehashed BS
IB_
It looks to me like they are allowed to just flat out lie in Elites SEC filings ...............
Hey Thanks A Lot King,
IB_
Ok..........
How much cash do they have? About $18 million
How much do they have in assets? About $33 million
How much debt? About $22.5 Million
What is their current P/E? About 4.7x
The share price is $0.033 and has been around that number for years .... There is no arguing, this has been a failed investment ....... Why are we told numerous times that Mikah would be winding down operations and they have only grown and partnered with Elite while NasRat plays both ends ?????????????????
IB_
Why continue supporting this CEO when it is CLEAR that he is not increasing shareholder value and has actually overseen the value/market cap decrease by hundreds of millions of dollars over the past 9 years !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
He has now intertwined his private pharma company into Elite, that is as unethical as anything I have ever seen .... Why is Mikah in business ????? Just answer that one question .... If we were all told years ago that Mikah would be winding down operations, why has it grown and become a partner with Elite ????????? How do we know when we are being told the truth and when we are not,
IB_
Keep thinking that while he continues his plan !!!!!!!!!!!!!!!!!!!!!!!!!
NasRat is benefitting from Elite as we post, we ARE NOT,
IB_
Why does TD Ameritrade show this still trades ??????????
I don't believe he is in any hurry to cash out and retire ... I believe he is probably ready to take the company private and get rid of us ASAP !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Ok, we see the problem .... what should shareholders do to stop this ???????????
IB_
That lawsuit will go nowhere !!!!!!!!!!! All he has to do is say that things have changed and at this time a merger with Mikah is best for Elite !!!!!!!!!!!!!!!!! How many times was it "WRITTEN" in an SEC FILING that Mikah would be winding down ????? How many times ???????
What is put in SEC filings carry A LOT more weight than words on a CC and we all see how unimportant the SEC filings seem to be ............. Anything he says on a CC can be twisted and not actionable in court .............. Did you know, NasRat is a lawyer .........
He knows what can be argued,
IB_
"More shares = more % ownership marching towards being the sole voter that counts for any proposals such as a Mikah merger."
And there ain't NOBODY attempting to stop him !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Yeah right, how bout this is the reason it tetters around a dime per share, "flying under the radar" right ????????????? SXOOF is a loser .... invest is a company that has value !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_