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What percentage of the fully diluted, outstanding shares, does NasRat currently control ????????????????????
That is the question we all should be concerned about,
IB_
LOTZ, dying a slow but sure death ....................................................
IB_
Congratulations on a nice little upward move in RAFA !!!!!!!!!!!!!!!!!!!!
IB_
Is that why Elite is trading in the $0.02's now instead of "Dollar Land" !!!!!!!!!!!
IB_
What NasRat "says" should be his bond but we know how far that has got us !!!! Yes the filings are on the "legal" side !!!!!!!!!!!!!!!!!!!!!!!
As post by The King of the DD:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170612029
IB_
Why do shareholders just whistle past the graveyard when we see what is going on with Elite????? Look at the CEO's total compensation and perks and then look at the share price ........ Think about all the statements he has made over the past 9 years that have turned out to be complete BS .... There are many .... How many times has it been stated on conference calls that his privately held pharma company was winding down operations ???? Totally under his control and it never happened, Mikah has only grown since those BS statements were made about winding down operations !!!!!!!!!!!
Arguing about what is right in front of us has got us nowhere as NasRat gains more & more shares, causing more & more dilution !!!!!
IB_
This can't be right .... The Lawyer said that the .02's are "Baloney" !!!!!!!!!!!!!!!!
Is The Lawyer FOS,
IB_
Not necessarily !!!!!!!!!!!!!!!!!!!!!!!
IB_
Ok, we can go back and forth concerning ELTP but the fact is, We Investors are not and have not prospered from out investment for many years, many years .... Most if not all investors are underwater at 3 pennies per share with the exception of ONE !!!!!!!!!!!!!!!!!!
The CEO has done well for himself for many years, what has he done for us, that is the most important question that should be on OUR minds .... If I would have argued years ago that once Elite is cash flow positive, it will trade at 3 cent per share, who would have agreed with me ???? Yet here we are ... Is it not past time for long term investors to be tired of the excuses and the waiting as the share price is near all time lows,
IB_
From the last "CC": "So let me explain. When a company orders $25,000, $50,000 or $100,000 worth of Elite’s product, because they want to test the market overseas. That is not a material event, because it’s a one-time thing. So we do not [indiscernible] But if the same company comes back to us now and say, that process was very successful, now I’m going to own a $100,000 a week, that becomes a very material event and that’s when we [indiscernible] okay. So we are working with overseas companies and we will let you know when and if anything materializes."
Keeping investors informed DOES NOT REQUIRE EVERY PRESS RELEASE TO BE A MATERIAL EVENT !!!! Elite can issue press releases anytime they chose to do so ... But LEGALLY they are required to inform investors of material events "LEGALLY" !!!!!!!!!!! You see what's going on here ???? Is this Lawyer truly looking out for OUR best interests ?????????????????????
IB_
I agree, but I do not believe he will do anything unless a new board is put in place to rein him in ...............
This has gone on TOO long,
IB_
He accumulates close to 12 Million 500 Thousand "12,500,000" SHARES per year and that is HALF of his compensation for driving this company to a $0.03 share price .........................
We continue to hear how the share price is manipulated but we never here who is behind the manipulation .... In other words, who benefits from the manipulation ............... I think it is very clear who benefits from a low share price,
IB_
Elite's truth? They trade at 3 pennies "$0.03" per share and that is within a penny of ALL TIME LOWS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Rather than argue, can we all agree that we shareholders are not benefiting from our investment, and it has been like this for many years ???????????
IB_
That is NOT true !!!!!!!!!!!!!!!!!!!!!!!
The response follows exactly what NH has said ..........................
Shareholders have been misled for many years now and the 'Safe Harbor' does not excuse that,
IB_
I agree, that is most likely the lawyer's plan !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
And then how low the share price can drop to where Mikah can afford to take over the company !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Are we still trading at 3 cent,
IB_
Oh yeah, Elite could be 4 cent in 18 months OR it may not be trading any longer ................ Being bullish on Elite has been costly over the years !!!!!!!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=99475103
Remember,
IB_ ;)
Here is another one: Why back a few years ago when Elite was being diluted so heavily and the company was reaching the authorized share limit, why did the CEO not ask for shareholder approval to raise the authorized share limit at that time??????????? Why did he convert his shares to free up more available shares for dilution and then put shareholders in a position to either approve his "unknown number of shares increase of the authorized" or it would be costly for Elite ?????????????????????????
IB_
Exactly !!!!!!!!!!!!!!!
IB_
Mikah operations should have been "wound down" log before the Adderall opportunity!!!!!!!!!!!!!!!!!!!!!
Why do we continue trying to one up each other by taking opposing sides when only ONE Elite shareholder is prospering from our jointly owned public company ???????????????????????
If I was receiving $500,000.00 worth of shares per year as half of my MILLION DOLLAR per year salary, I would not want the share price to rise either ... If I had no dignity, I would NOT promote the company/stock either ..............
WE ARE GETTING NOTHING AND IT HAS BEEN THIS WAY FOR MANY YEARS,
Does someone at Elite pay people to defend them to the other shareholders ?????
IB_
I agree .... and basically, trapped in it for many years because of a ridiculously low share price that management seems to be "Ok" with .....................
I think we know why,
IB_
Hearing lies,
As time flies,
It's made me wise,
So many times, I agonized,
A bit hypnotized,
But not surprised.
As an Elite partner for going on 11 Long Years,
IB_
Quote: The King,
"2015 10-K - "Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets."
2016 10-K - "Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets."
2017 10-K - "Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets."
2018 10-K - "Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets."
Mikah still very much in business and doesn't the poison pill expire in less than a year ??????????????????????????
As The Beatles recorded in their smash hit from 1968 "Helter Skelter" ... LOOK OUT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
The big question I have is: A buyout before or after he takes Elite private ?????
IB_
Would it not be much better for shareholders to demand some accountability from the CEO ????????????????????????????????
IB_
I don't know King ............................
It seems like to me, we have been lied too over & over again ???????????
In my opinion, the CEO takes the (I'll do and say whatever I choose, until I am challenged and then I will defend myself) !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The problem I see, is there is no one to challenge him...... So he goes about executing his plan for Mikah & Elite .......................
Why is his purpose in NOT doing with Mikah what we were told ??????????
Thank You King, for the "4" 10-K quotes,
IB_
Were we not TOLD years ago that Mikah would be winding down operations ???????????????
If so, wonder why that was NOT TRUE ?????????????????????????
What is NasRat's plan for his privately help pharma company and his publicly held pharma company ???????????????
Hummmm,
Are shareholders eyes, wide shut,
IB_
"If Nasrat himself had a stake it would have to have been disclosed."
If NasRat does something that is "against the rules or not within the rules", who is there to call him out ???????????????????????????????
IB_
YES a new Board of Directors !!!!! It could be accomplished if shareholders of Elite would open their eyes to what is going on and stick together to replace all of them with the exception of NasRat .....................................
Control can be taken away from "The Largest Shareholder" if handled properly .. Example: PZZA/John Schnatter !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
IB_
Hummmm, this "test" makes a really good point ..........................
If shareholders can't buy shares at these prices "that would increase the retail shareholder count", then it sure looks like only one person is benefitting from a 3 cent share price ......................... At the tune of $500,000.00 worth per year !!!!!!!!!!!!!!!!!!
A squeeze-out or squeezeout, sometimes synonymous with freeze-out, is the compulsory sale of the shares of minority shareholdersTHAT'S US of a joint-stock company for which they receive a fair cash compensation. GUESS WHO WOULD DETERMINE "FAIR"
This technique allows one or more shareholders who collectively hold a majority of shares GUESS WHO THAT WOULD BE in a corporation to gain ownership of remaining shares in that corporation. The majority shareholders incorporate a second corporation GUESS WHAT THE NAME OF THAT CORPORATION IS, which initiates a merger with the original corporation. The shareholders using this technique are then in a position to "dictate the plan of merger." They force the minority stockholders THAT'S US in the original corporation to accept a cash payment for their shares, effectively "freezing them out" of the resulting company.
We need a new Board of Directors right now,
IB_
LOTZ looking like a $0.02 stock !!!!!!!!!!!!!!!!!!!!!!!!!!
I might pick some up next year during the crash,
IB_
My guess is that is correct and the number may be MUCH higher !!!!!!!!!!!
IB_
I may be wrong on this but I do not believe so .... I think at 90% ownership of a public company, the 90% can squeeze out the remaining 10% at the current share price or possibly a very small premium ......... I would love to know exactly how many shares NasRat controls in total !!!!!!!!!!!!!!!!!!!!!!!!!!! There has got to be a reason he is soaking up more shares rather than not diluting and most likely selling the company at some point for more per share than when it is fully diluted .....................
IB_
I can understand choosing to continue putting everything toward R&D but look where that has got us. The company has increased revenue hand over fist for years now, while the share price has fallen and/or flatlined here in the $0.03's for years. $500,000.00 dollars to buy back shares would show support for the stock, could cause new investors to take interest and if the CEO is correct, it would be a great buy on a stock that he claims to be undervalued ....... BUT if any of us here were getting $500,000.00 worth of stock every year, would we really want the share price higher ?????? Buyers want to buy low !!!! The CEO is getting shares from the shares he MADE UP back when shareholders approved for him to do just that, MAKE UP MORE SHARES ..... Think about where the share price would be if the CEO had not MADE UP all those extra shares above and beyond what was needed to implement his "conversion" and Elite was buying $500,000.00 per year from the FLOAT and giving them to the CEO as part of his compensation ?????? The way it happens now only continues to dilute the shares at about 14 Million+ shares per year ..................
We beat this dead horse daily here, but we never prosper,
IB_
"I then put up shares for sale LOWER than the bid price. But there were no takers and, after a short time, the bid price dropped lower than my offer."
Finally there is proof that no one is interested in this stock !!!!!!!!!!!!!!!!!!!!!!!!!!!
A stock never moves without demand and this just proved that there is no buyers for ELTP .................................
"IF" Elite's distribution arm is a success, a share buyback should be implemented immediately !!!!!!!!!!!!!!!!!!!!!!
IB_
Nice Job !!!!!!!!!!!
Thanks A Lot King,
IB_
I 'm afraid that our only option is to replace the Board of Directors with the exception of NasRat, because he owns too many shares to be replaced, UNLESS the new board members would find malfeasance !!!!!!!!!!!!!!!!
At least if the new board members did their job, he would not be allowed to do as he pleases when it comes to our company, Elite,
Hey Thanks A Lot King,
IB_
Because all this "Elite is making monsters" is complete BS !!!!!!!!!!!!!!!!!!!!!
Elite prospered from SunGens ability to get Adderall past the FDA, all Elite ever gets on their own, are drugs that are puny income producers, and they seem to dump those at a deal to the buyer ......................................
I think we old timers have put up with this nonsense from Elite's management for way too long ?????????????????
Hey Thanks A Lot King,
IB_
I think the word "must" depends on NasRat's interpretation ?????????????
Cause we ain't seeing it,
IB_
It has been almost 3 "THREE" years since the share price was a DIME a Day'Um DIME "$0.10" and a DIME is a tenth of what we were led to believe the share price would be for many years !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Not ONE shareholder should be happy with Elite's management,
IB_