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The company is in a quiet period until the MAA is accepted.
Very early litigation stage. Elite has stipulation to file an answer by January 22. Then a discovery schedule will be announced including depositions etc.
The Shorts.
Appreciate the moment.
Of course I meant record revenues to be revealed in February.
The only short trading on the OTC is done by the professional market makers whose job is allegedly to keep an orderly market in stocks. That being said, it is necessary to subscribe to level 2 activity in order to get a sense of what they are doing.
Up until November 2023, the market for Elite was basically controlled by three MMs: the notorious CDEL , ETRF and CSTI. The big move in the stock occurred when they were joined by 3 or 4 new MMs: GTSM, Puma and 2 others I cannot recall. One has since dropped out leaving a total of 11 MMs.
There is a pending lawsuit in federal court against Citadel and a few others by NWBO claiming illegal manipulation of the stock price. A motion to dismiss by the defendants was recently argued and a decision, which hopefully will be to deny the dismissal will hopefully by granted within the next few months. Thereafter I expect that the MMs will settle with NWBO since a verdict finding collusion would be a disaster for the MM community.
As opined by some here, the current block of stock at the .144 level is probably MMs repositioning their inventory for the next move up which should take this stock to new highs as record revenues are revealed in November.
The only way to avoid this manipulation would be to remove Elite from the OTC to another exchange which appears to be difficult without a reverse split to qualify for the minimum price requirement for the Amex , or Nasdaq listing. for small cap stocks.
My decision here is to sit back and enjoy the ride while taking advantage of any setbacks to add.
Good luck my friends and a belated Happy New Year to one and all.
Momentum is bullish indicating that future trend is positive. Look for major price breakout to the upside. Bollinger Band squeeze. Watch for nice volume to resume perhaps with some unexpected news.
Pyros had an copyright objection to its Vigpoder oral solution for Vigabatrin where the court set a time limit to file. Does anyone know the status?
After trading half a million shares in the first 7 minutes, only an additional 169k shares traded the rest of the day. Stock need to close at fifteen cents or so for a 5 bagger for the year. At the dawning of the Age of Aquarius or perhaps the age of acquire us.
I can not understand why the company refers to the accepted filing of an "undisclosed generic drug product for a CNS product with annual sales of $5.1 Billion instead of just naming the product as Vyvanse. Do they think competitors don't know how to Google?
The date of the acceptance was December 21. They waited five days to PR it and they still have not filed the SEC 8k as of the close today. Most investors who do not have elite on their screen are unaware of this easily accessible information.
Look for the float in the Rose Bowl parade.
If we get news of the filing acceptance this week, 14 centavos will prove to be a steal.
Hard to believe that Purdue was looking at Elite's anti drug abuse technology almost 20 years ago. Sadly hundreds of thousands of lives lost since then due to abuse of Oxycontin. Very ironic if Elite's generic is approved.
Stock has a nice buyer who has gobbled up over a half million shares on the bid. Someone is a big believer. The person who hit the bid may be buying another used car as a Christmas present. I'd rather wait and buy a Porsche or a Tesla.
Good find. Any update on the patent time to object for the Sabril/Vigabatrin filing?
Does the agreement to manufacture Adderall for Prasco include the IR version as well as the ER version which was just shipped?
I've been adding all week since 14 cents looks pretty cheap to me. Low volume lets MMs play with the price but I expect a breakout on the upside with any decent news. That being said, it does feel better when the stock closes with an uptick.
Please update revenue box to reflect the 14M for the second quarter. Thanks.
Patience is the buy (sic) word. Next news event liable to be very big
Feels like the calm before the storm. Hope its snowing soon. Could use a little holiday cheer.
Shareholders should not care how much money a CEO who put in so much time and money into a corporation, earns for his efforts. Just ask the holders of Tesla is they agree. Earlier investments here were dependent upon the efficacy of the company's anti drug technology, Sequestox, which failed or was dropped for being too costly to continue testing.
The company is a whole new creature from those yesteryear days. Thanks to a little luck that its major distributor failed due to onerous debt causing CEO to attempt self distribution, this is now a juggernaut which has now attained credibility with the FDA, the DEA, and new excited investors. Having a 10 % market share of Adderall before adding the need for more manufacturing with the Dexcel agreement commencing in 30 days, will propel this company to a well deserved market price making many here very rich. Congrats on finding this gem which should shine even brighter in the near future as new huge ANDAs are approved.
People who invested in gm 10 years ago are down 18.%. This stock has a reasonable potential
To be a multi bagger for the faithful.
Now that the.12-.15 spread has been pierced, I expect the stock to trade between .15-.20 absent the MM bear raid . The acceptance of the Vyvanse filing may cause next breakout.. Smart money still buying.
I sold it down to fill the gap for you.
Look for company to meet the filing deadline at MHRA of Nov. 27 to qualify for a CHM meeting on2/22-2/23/24. The $5m from a private investor may very well be used for that purpose.
Stock should pop on the filing of the Marketing Authorization Application. Multikline will lead to Multi- Gain. Deal closes tomorrow and short will be covered. Watch volume numbers.
Pick rklb
The MHRA submission deadline for Marketing Authorization Application is November 27, 2023, a week from this coming Monday.
Since time is of the essence, with lives at stake, hopefully NWBO will submit to qualify for a CHM meeting on 2/23-2/24/2024.
If they do not submit then, the next deadline is 12/25 with the scheduled CHM meeting set for 3/31/24.
Early paint job this weekend. Kelly green looks nice. Enjoy.
Aye. Tis Beauty who killed the beast. Kong
Expect a launch before year end will prove the crash was an aberration. Good time to load up before the event. Company expects 22 flights in 2024. Hidden gem.
Just love the M&Ms candy. Doesn't melt in your hands.
A merger or acquisition would be a way to get on Nasdaq since the $5 Minimum is not reachable without a reverse split which Nasrat has apparently ruled out.
Interesting conference call which warrants an audio replay on the website to get a feel for future growth prospects.
Solving the storage problem is huge and hopefully he can close on the letter of intent before the end of the year.
I'm looking for a new trading range between .15-20 until next big news event which may be a major filing acceptance by the FDA.
Just hit website
Cant get it on Elite website. Can you forward please.
I called a timeout just before the delay of filing penalty was called. Two left.
The real action should occur during and after the conference call. Important to read the 10Q when it is released.
If the 14 million revenue number represents sales of andas and manufacturing, income, and is not an accounting trick, this stock will warrant a new review as to future potential revenues and buyout possibilities.
The poison pill expires at midnight tonight. Maybe we should form a shareholder committee to see if we want to make a bid. :)
The MMs on Level 2 are revealing only small sizes on either the buy or sell side. Any large purchases or sales above 300,000 shares should cause violent price swings here in either direction.
Any number above 10M in revenue is apt to bring in big buyers who value an undervalued stock which apparently will be headed much higher. Stocks that show increased revenue streams and smart R&D tend to rise in value.
It appears the MMs are currently trying to suppress the price. It is not unlikely that a big buyer is waiting in the wings and may even step up today before the close.
I hope that Nasrat will again be prepared on the conference call to expand on the business plan.
Winner gets to a goat.
Purchases made today at .12 will look very good especially if revenues top $10M
How about drum sticks .