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CFO hasn’t received any shares. Per the 8K:
“Upon approval by the Board of Directors of Elite, Mr. Chen will be granted stock options to purchase 900,000 ELTP Shares. The options will vest over a three-year period, commencing one year from the date of issuance.”
I misinterpreted thinking they meant this Elite message board.
On the other hand, CEO reports to board that has little ownership and significant influence as the largest shareholder. Who don you think BOD will listen to?
Why do you think he hasn’t gained anything financially? Quite the contrary.
The Elite Board doesn’t dictate the largest shareholder’s tenure.
Sure, hit the ask and see what happens.
Was that the 2 shares in 2 separate transactions?
Volume just doubled in the blink of an eye.
As long as Elite can get the API. Few weeks back there was post that Lannett was out of stock for IR. That’s the moneymaker right now. Hopefully short term issue.
I think doxycycline hyclate approval caught everyone by surprise. Would be good to see portfolio grow to continue R&D investment.
The stock price is simply the end result of a billion shares outstanding with a small company. The company is finally CFP and slowly growing, but there is no manipulation.
Slightly less than the number of FDA approvals that were sold off for pennies on the dollar.
Maybe during power hour today we can catch up to yesterday’s traded volume.
Retail holders were selling last week. They were primarily odd lot sizes on the ask. Not the 10K from market makers.
Solid volume. Must have been all the excitement about the monsters breaking loose soon.
You really had me on the edge this time.
Well, a growing company has sales that move north sequentially, quarter over quarter or at least year over year. Without additional commentary on why the lower top line, a large decrease in year over year sales is certainly a big red flag.
Accounts receivable doesn’t exist if they use cash basis accounting.
No, that is incorrect. It is a liability if it is deferred revenue, not an asset. This is really basic accounting. Saying otherwise doesn’t make it accurate. Here is insight on the same accounting mistake:
“A common mistake
An error made by many entrepreneurs is to offset deferred revenue with accounts receivable. Some companies record the entire contract value in accounts receivable and deferred revenue to show the potential economic impact of future contracts on the present value of the business. This is not in accordance with GAAP. Deferred revenue should not be used as a double entry account along with accounts receivable to reveal contract values.”
https://www.indinero.com/blog/the-key-to-accrual-accounting-recording-deferred-revenue
It’s listed as a receivable since the sale was booked. It is an asset since the cash hasn’t traded hands yet but is expected to soon convert. Receivables are booked after the sale, not before.
Some companies record revenue upon shipment or receipt and if it was a pending sale it wouldn’t be listed as a receivable, but rather unearned revenue as a liability
since their end of the agreement hasn’t been fulfilled for it to be listed as rev. Not the case here.
If there is no sale, there is no receivable. This is basic accounting. Sale has already been booked and included in P&L.
No analyst covers this stock. That note is from many, many years ago.
That is the whole point of IR.
“Lots” as in more than 200K on the ask. Usually ask sits at 10K with same market makers on bid & ask.
Lots of retail holders bailing lately. Big amount on ask again.
Bigger buy was me. Saw price was low and decent amount on ask so I slapped it at 0.034.
As in another CRL to beat the PPS down further with the ugly stick?
CEO has absolutely failed in this regard and yet current comp incentivizes him to keep it down.
Plenty of shade thrown on Carter over the years. He was terrible.
How many times were SEC filings amended under Carter? One time at a public company is enough to diminish trust in leadership let alone several.
The part Where Carter wasn’t dependable was with the accounting and SEC filings. Kind of important if you are the CFO.
Remember when he lied about Mikah winding down upon becoming CEO as now they own how much of our Adderall line? Where is the CEO after this was clearly not even close to the truth? Oh yeah, he’s still the CEO and not in prison.
Lawsuits yes, but not prison. In a legally frivolous society one can sue for anything and everything.
“It hasn’t been discussed…”. This is past tense.
This in no way excludes a future scenario of such. The pursuit of going private is probably less work than to be acquired by another party, especially since the CEO continues to get paid in shares increasing ownership month after month.
Lol. Seriously, on what legal grounds? Because a share price was stated for the poison pill at one time many years ago based on the business performance and expectations at that time? Like before SequestOx failed miserably?
There would be no law broken whatsoever. What has been said in the past during a conference call is protected by Safe Harbor as forward looking language. Doesn’t mean it will happen, but it could, and there would be no risk for jail. Nice imagination though.
He could buy out the company for 4 cents tomorrow if the majority of shareholders approve. With his significant ownership it wouldn’t take much more than his ownership to approve the vote.
Don’t you love safe harbor language?
These are basic SEC filing standards. Take it up with the SEC.