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It would be interesting to see what became of the ANDA's. It could be the owners are waiting for "favorable conditions". As the ANDA's were procured at "fire-sale" prices, it is hard to imagine them resulting in a loss for the owners.
All Nasrat's doing. . . The selling of the ANDA's was a moronic
side-stepping of the work required to bring them to fruition. Any risk to Elite from the "opiate lawsuits" was negligible, remote, far-fetched. . . a product of Nasrat's overactive imagination -about the only thing "overactive" with "that guy". Oh to have Nasrat in the rear-view mirror!
Long ago, Nasrat spoke on successive conference-calls of executing a reverse-split "from a position of strength". Currently, the share price is a fraction of what is was when he used such a description. What Nasrat has done in the interim has been ill-advised, self-serving, and utterly feeble. Shareholders might consider themselves lucky that Nasrat hasn't executed in an inspired or energetic manner as such could very well result in even greater losses. One would have to assume that there are lawyers who might think it worthwhile to prove that a consistent pattern of behavior amounting to gross negligence, i.e. "corporate malfeasance", i.e. incompetence and greed arguably so egregious as to merit the designation "criminal" exists.
Your query brings up too much money, too many shares, and the prospect of illegal activity. You are asking which of the "thousand cuts" proves lethal.
Wow! That's deep! -But not deep enough!
Who knows?. . . Maybe some day buying ELTPQ will be.
" Eltp is where it was weeks ago"
-Actually, a slight decline on an overall downward trajectory.
How can Nasrat be convinced that success with Elite is synonymous with bringing value to shareholders? How can he be convinced that such success is not only attainable, but actually LESS WORK than the foreseeable decline and dissolution? . . . C'mon Nasrat! You don't need one more regret!
Communication with shareholders is beneath Nasrat. After-all, it took a lot of work to get that CRL. No doubt Nasrat can say he did his best. Just because his plans didn't work out for shareholders doesn't mean they shouldn't work out for him.
A reverse-split will quickly result in your having a fraction of your current shares at about the same price.
From the Elite website- "Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company engaged in the development and manufacture of oral, controlled-release products, using proprietary know-how and technology for the manufacture of generic pharmaceuticals."
Elite Pharmaceuticals is a specialty pharmaceutical company that spent vast amounts of time and money on a failed technology. Even if "Sequestox" were to work as intended, there will not be any demand for it.
Nasrat needed to "move on" some time ago. The best way for the company to move forward is for it to return to what it was doing before Nasrat arrived with his exhaustive knowledge of the pharmaceutical industry that has allowed him to accumulate and dilute to a ruinous extent.
. . . and another day "Sherm" and "NASD22" are making those "Ninja-Trader" moves.
I am hoping Nasrat will loan me $500,000.00.
I promise to pay him back $6,250.00 in 8 years.
-This sounds about fair. . ."par-for-the-course" with Elite, No?
Not to start false-rumors, but has anybody seen or heard from Nasrat? Has he just gone "incommunicado", or could something have
happened to him? If so, it could be bad, which could be good. Or, conversely, it could be good, which could be bad. -Relatively safe to say it is doubtful Nasrat can fix what he's done.
The majority of technical studies on "accumulation" would appear to refute the idea that, "Accumulation just continues to climb."
Apparently, you don't know what you are talking about as "hypothecate" means to "pledge money by law to a specific purpose".
"Shizzizzle!"
You were just appointed CEO of Elite Pharmaceuticals! Congratulations!(?). . .
What are the first 3 things you would do?
1 Announce an "open-door policy" to both employees and "long-
neglected" shareholders whereby they should feel free to bring
their questions and concerns directly to my attention.
2 Solicit manufacturing business to make full use of currently idle
production capacity
3 Conduct a thorough inspection of the facilities to ensure no
violations of FDA standards
. . . Ahh!. . . Sarcasm!. . . You're not so dumb after-all!
"That's what she said!"
"For the sake of argument, let's say the p/s never get above 5.6 cents over the next three years...In that case he has nothing."
- No argument- totally possible!
"There are some other interesting aspects but I try to add clarity not confusion and since most will never see a stock option, I will stop here." Ah!. . . "add clarity". . . drop-wise perhaps?
CLEARLY, any options on ELTP shares exist solely as a means to compensate Nasrat, management, and board cronies.
Funny.. . . Like when someone asks, "How are you?" and you automatically reply, "Fine." when in fact you are very much "not fine" for any number of all-too-valid reasons.. . . Correspondence with IR. . . where everything is "Great!", all the employees are "hard-working", and the boss is an "overachiever". I heartily agree with the last assertion as the CEO should be cited for greatly exceeding the "stupid-limit".
Regarding a reverse-split. . . Consider that some weeks ago you saw that Elite posted significant news and dismissed it as "fake-news" because "Nothing is happening at Elite.". -That's understandable. Well. . . for illustrative purposes let's say ELTP did in fact undergo a 20 to 1 reverse-split. Well, here we are at $0.05. It
is as if a reverse-split occurred and the most likely thing subsequently happened. That's understandable. . . .Hey! At least today you don't have only 5% of your current ELTP shares.
Somehow someone should impress upon Nasrat Hakim that something is very wrong at Elite Pharmaceuticals, and that that something has been very wrong for a considerable time now. Early on in Nasrat's tenure, shareholders were presented with "valuations" -the accuracy of which was emphasized on conference-calls by management; Valuations which would make long-term shareholders realistically somewhat disappointed were the current price in the neighborhood of $0.80 . . . That's correct. I am stating that given what Nasrat and team said some years ago, were today's share price to be $0.80, it would be fair for shareholders to grumble about "the charted course", "energy and initiative", and such.
Presently, calling for Nasrat's removal and a shake-up at the top of Elite is no bold action wrought with controversy. Nasrat is a crooked, no-class, ass who will treat shareholders like hostages for as long as he can.. . . I wish I could've said, "My investment in Elite ended badly." some years ago. But, like many, I find myself with a good many shares I have to consider as evidence of my own poor decision-making.
Well. . . This is "pennyland" where many more fortunes are lost than made. Still, "Stranger things have happened." -Perhaps, rather than, "Nothing can stop us!", at the next conference-call, when considering the prospect of Elite planning and executing so as to bring shareholder value, Nasrat could do something totally foreign to him and with a truthful utterance state, "Stranger things have happened!" . . . Ha! A reason for optimism vis-a-vis ELTP!
PS Other CEO's have done it. . . Stated to shareholders (approximately) "Frankly I am embarrassed, ashamed, and disgusted with our performance and regrettably I can only apologize to all shareholders, supporters and detractors alike. . . . "
Hey Naz- Resigning would probably be a lot easier than fixing all that has gone wrong under your leadership here at Elite. . . at least for you. Why don't you step aside and let persons who could turn a decent profit at a small pharmaceutical company in New Jersey have a go?
Yes. Simply. . . At this point, any number of baseless theories and
any amount of cherry-picking of the facts can't adequately distort the reality of Elite Pharmaceuticals being a company with an aloof management who do not have the shareholder's best interests at heart so as to emulate a rise in share price such as could be achieved through skill and a modicum of w.o.r.k..
DSherman: ". . . I would guess. . . "
Float 829.65M
DSherman: ". . . Elite has a very tight and low float. . . "
!!!
As Nasrat rarely responds to emails, we should apparently consider his confused statement as very important and of the utmost truthfulness- at least in Nasrat's opinion. More at the point, As the CEO, so the management. As the management, so the production staff. i.e. ". . . they can run 3 shifts a day she told me they are not even running a full pm shift yet."
You should get "lambasted" for your continual "pie-in-the-sky" distortions and fallacious, heuristic reasoning.. . . Bottom-line. . . How much money would someone who invested according to your posts now have?. . . Hopefully, just ZERO. $0.00 - and not "less than zero" which is what such "cheer-leading" is worth. Especially given Nasrat and team. "Go ELTP! Go Nasrat!. . . Just go!"
"Nope.". . . This is a stock based upon Nasrat Hakim's "hobby".
If Elite is still around in a couple of years, the only thing that will have changed is that the posters who have been clamoring for Nasrat's removal will have moved on, having grown disgusted by more of the same inaction and just plain stupid, crooked action. And, the posters who currently sing his praises will have come over from the dark side to loudly protest against the grievous injustice done them. -
I would be inclined to think that Nasrat might be reluctant to
ascend a step-ladder, all the while carrying a breakable piece of glass that he would be required to insert into an electrical socket. So, to ask such a question is a rather meaningless exercise. And. . . There really is only ONE Nasrat!
Cant' wait for Nasrat to inform us that every conference call starts out with a disclaimer absolving him of any responsibility for whatever he may or may not have said. . . Thus, lies were just "forward-looking statements", etc., etc, etc.. That day is probably
a ways off as even "closing up shop" takes a good bit of EFFORT.
Nasrat shares the same glass-ceiling with every other comfortably, happily, small-minded CEO who is in business solely for themself. -And thus is the success of Elite severely limited. They might say, "It is our complacency that has made us the great achievers we are today."
Nothing new here. . .
. . . Crooks from New Jersey have been lammin' it to Florida
since Moses wore short pants.
Oh yeah. . . very insightful. . . ELTP= all undressed with nowhere to go.. . . But down.
Fitting You of all people have a point- although I am not
sure semantics is your "long-suit". Let's first consider a
total lack of action, then, a litany of totally classless actions
which have resulted in a rat having a lion's- share of shares.
The long, slow bleed has perhaps allowed our main man NAZ to escape the attention of the class-action lawyers, but that will probably change soon enough. Incredibly, in the case of this sad story, legal-action is probably justified -although it will only serve to line the lawyer's pockets. . . . Nasrat belongs on a stool in the corner where he will be out of the way.. . . Which is to ask, "Are we ruined yet?"
"Accountable for what??"
This could be your motto.
"Without him we would be gone." . . . Just think, with someone
else at the helm, "we" might have been able to move on having
broken-even. -Some might have even realized a small profit.
- "Profit". . . Imagine one day profiting from your investment
in ELTP. . . Oh wait! Many here do little else.
The ONE question we should ask:
Who says, "Shareholders ain't my thang!" ?
Ah!. . . It's a puzzle! Which question should we ask?
Some CEO's are workaholics.. . .
Nasrat is a "beach-a-holic"!
Does the Pompano property have 3 bedrooms, a kitchen, and
a pool?
ahn ver do you see theez "monsters" NAS?