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How is selling an asset illegal? Might want to revisit accounting 101.
It’s the company our old CFO, Carter Ward, went to.
If you see a consistent pattern, take advantage of it. That is what stock trading is all about. It’s not just about buying a share and holding it forever. Everyone has a different risk profile and trading strategy.
I think it’s just a retail holder selling out. How is that manipulation?
3rd party works with shareholders of record and brokers. Brokers then reach out to their shareholders of record as of certain date.
Elite doesn’t have that, no public company does. Brokers are blind to other brokers. Elite is blind to how many/who own it at each broker.
Massive outstanding share count is one of the major drags on the company. Elite should not have a 500 million market cap yet until they start getting a better sales portfolio & pipeline. Probably 2-3 years away from there.
This was discussed several years ago and was clarified that Elite’s tech will not work as an ADT against fentanyl. I can’t recall offhand if Nasrat addressed this issue during a cc as well.
Except Elite’s tech doesn’t work with fentanyl. That was a concern many years ago.
No one is freaked out about this company’s potential. Would be nice, but it’s a fairy tale.
Huh? This wasn’t in reference to investing in Elite, but rather the non-arms length deals with Mikah, his privately held company that per the SEC filings was to have been winding down.
Minions and Thor came out after quarter ended. Top Gun will have positive impact in reported quarter, but will it be enough is the question. Traffic will determine their forecast and this is what will move the stock, one way or the other.
I think everyone knows this quarter will be bad and it will be more up to the forecast that will drive the price one way or another. A company with great results can have its shares tank if it provides a weak forecast as the stock market is forward looking.
Why are you also ignoring the first 3 years that diluted the company to smithereens?
Not another CEO that has as many self enriching side deals for sure.
Well, we’re still mid-year last time I checked. If nothing happens by Oct, then raise the question for a cc, but odds are he won’t respond.
Probably really close around the time that the FDA couldn’t stop Elite. :)
What has Elite done for the shareholder? How can one forget about all dilution?
There is no protecting LPC. So many people ignoring facts.
May want to read LPC agreement. P.11 3(i) expressly states LPC can’t short or enter any hedging transaction involving Elite stock. There is no manipulation of this stock.
You are correct, hats off to Nasrat 7 years ago. Solid attendance at investor conferences by mgmt since they have been on firm financial footing for the first time ever.
I shouldn’t say never have, I’d have to revisit early days with Sox if they attended anything.
Elite’s management is to optimize the share price. Zero communication outside of earnings calls isn’t exactly reaching out to the investor community. That’s the job of IR, which has been nonexistent for years at Elite.
Come out from under the rock. Sunshine does exist.
They have never gone to conferences under this management.
Doesn’t sound like FDA filing will be done by then let alone approval decision.
Where is CEO and IR getting the story out about the company to investors? What investor conferences have they attended over the last 10+ years? There is an absolute lack of communication from mgmt to the investor community.
Lol. 218M
They also have about 20% of the OS that Elite does - 21M vs 1B. Elite’s stock will stay out until outstanding shares get cleaned up.
I believe they are expressly forbidden from shorting the stock, per their agreement.
Note 19 - Subsequent Events in 10K
“On April 2, 2022, the Company entered into a loan and security agreement with East West Bank, pursuant to which the Company was granted by the Bank a term loan of $12,000,000 for a duration of five years and an asset-based Revolving Line of Credit up to $2,000,000. The Company has received the proceeds of $11,959,880 out of the term loan net of applicable professional changes, and it will be used for general working capital purpose. In return for the term loan, the Company is required to meet certain financial terms and conditions.”
Less than a week later, they entered into the asset purchase agreement to buy the building. The deal was closed after the 10K period, but could have been mentioned on the call. Instead, they spoke of the building acquisition, which funds from the loan were most likely used to seal the deal.
It’s a subsequent event. It hadn’t closed yet. Did not happen last fiscal year which was primary focus of call.
A video from one year ago? Lol
They declined being bought from Tesla a while back. Old news.
LPC put a ceiling on the price. That ceiling kept lowering with every renewal.
Looks like things are back to normal again.
Had CEO in my neck of the woods get busted for backdating options. Ouch.
“Material” seems to be a term loosely used by Elite. We simply don’t have enough facts around the situation.
That’s what my questions pertained to. If they PR every BE and approval, it’s possible they bought the rights after a 3rd party did the study so there would be nothing for Elite to PR on that front.
This is only half the answer. Didn’t they do a BE trial on this or did they buy the rights to it from a 3rd party after they did the BE?
Approval is apparently the only material event (but not all CRLs). Sometimes launches aren’t even PR’d.
We = Elite. Mgmt should always mention the company as plural to recognize the entire company’s efforts.