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Once again we bow to the King !!
While His Majesty opined earlier this week that the 10Q would be filed on time, the extension can only be for 7 business days which is no big deal. Caveat venditor.
The Nov 8 audio conference call indicated that they resolved the issue of the launch failure on Sept. 19. Daddy Joke be warned: This stock is ready to take off.!!
22 Launches in 2014 and expect one before the end of this year. Go Team
Timing isn't everything ( couldn't resist). They have filed a 12b-25sec form in the past. The delay is usually only a few days. We will know tomorrow or Friday if today is Wednesday. :)
Since no news today on quarter report, it would not surprise if they filed a SEC delay form to report after Nov 15,2024. If they are changing to calendar year status, the CFO may need a little more time to report.
Perhaps are resident Pharmacist can weigh in on the cost of Vigabatrin at the pharmacies where he has worked. Since it has been newly launched by Pyros, the inventory from Elite, the manufacturer, was probably shipped this quarter and will be reflected in the year end quarter.
Some times you make me happy, some times I'm sad, but there are times dear, you make me feel so glad. I didn't wanna do it. I didn't want to do it.
As noted by His Majesty, the date of the next earnings report should be announced tomorrow or Wednesday.
Even if it comes up a little flat , eg $8m, the real event will be the conference call in the AM, when NH will be able to reflect on the manufacturing contracts that will supplement the growing quota for Adderall as Elite gathers increased market share.
I believe, just as a stated when stock was a dime, that purchasers of stock between 12-15 cents, will be well rewarded in the near future. A double from present prices would not surprise.
Vigabatrin is a very expensive medication and is only available at select pharmacies probably due to the education and follow-management up required for use under the REM protocol. I suspect many parents who unfortunately have infants who suffer from seizures have to seek other sources to pay for the dosages which run into thousands of dollars.
Elite, as manufacturer for Vigabatrin for Pyros ,and Adderall for Burel ,should have significant income in the forthcoming and quick approaching calendar year.
$$$$$. Cha Ching.
All I want is another brick in the wall.
MMs look like they are trying to shake loose some shares.
We don't need no thought control. Hey! MMs! Leave our stock alone.
The weekly volume has dwindled to under 1 million shares traded per day. Considering the drop in volume, the price has been rather stable. It will be interesting to see what happens as the volume rises before the 10Q is issued next week. As Groucho used to say: Last chance to beat the other couple. What is the mystery word George? Buy.
I believe the quota from the DEA is no longer done yearly as an astute poster recently noted.
I don't see any uplisted companies that did a reverse split to attain required price.
Reverse splits of stocks on nasdaq made to remain above a dollar to avoid delisting are almost always disasterous for shareholders.
My Google search does not show any companies on otcbb that reversed to qualify for nasdaq listing. Appreciate anyone who can find such companies.
This may be germane if stock gets to .25 a double from here. NH did say he would consider at a higher price.
Reverse splits of stocks on nasdaq made to remain above a dollar to avoid delisting are almost always disasterous for shareholders.
My Google search does not show any companies on otcbb that reversed to qualify for nasdaq listing. Appreciate anyone who can find such companies.
This may be germane if stock gets to .25 a double from here. NH did say he would consider at a higher price.
Revenue guestimates are very exuberant here with 19 of the 30 posters predicting $11M or more for the quarter ending June 30.
The previous quarter was approximately $9M and the September 30 quarter last year was $8.6M.
Although I am sanguine, there is a downside risk to over optimism which can lead to disappointment and a reversal of the strong three month trend in price appreciation.
That being said, if the number comes in at 10M or higher, this baby should take off and break out to new highs. New investors can look forward to steady growth with prospects for continued increases as revenue sources are buttressed by new ANDAs scheduled for FDA approval in 2024.
Fingers crossed.
Happy Angling. I hear its your specialty. Now go fish
Oh Great One, I was quoting directly from page F6 from the last 10Q as stated in my post.
Sorry I had to milk the GOAT.( Pun intended.)
Excessive punctuation makes the writer seem overexcited. Readers may find you annoyingly enthusiastic or wonder if you are simply annoyed. It undermines the professional tone that you may be trying to achieve.
One of the former market makers for this stock is off the board today. In the past month we added 3 new MMs. Now 11 MMS
The upcoming 10Q will replace revenues from license fees with the term "direct sales" to Pharmacies and Institutions to reflect the commencement of the selling by Elite under its own label which began on April 1. See Page F-6 of 10Q for quarter ending June 30.
The direct sales number will be of great interest to investors both old and new.
It will also be interesting to see if the CFO will now convert the 10Q now based on the regular calendar year rather than the fiscal year which ends on March 31. That would make this report the third quarter and I believe Carter would have to revise the previous quarters. If not this report, I expect the change would occur on the New Year.
NH appeared to be thinking near term for plant expansion, and investors do not know the amount of Adderall Burel will require.
Since a new factory will require certification by the FDA, perhaps Elite will be able to lease a part of the facility from a neighbor that does not make Adderall who has extra capacity.
On another note, Level 2 is useless at this time as a predictor of future movement as bids and offers are the lowest I have seen in years.
There has been a drop off in daily volume this week with only 750k average. Stock continues to hover between 12-15 cent level.
With positive expectations for a favorable revenue report only 6 trading days away ( but who is counting?) few long time believers here are apt to sell for fear of missing out on the next move up. I expect .12 cents to be a nice support level.
On the last conference call, NH indicated that the plant capacity may be reached in the near future which is especially relevant since the company will start manufacturing Adderall under the Burel contract commencing January 1. He should address this issue on the call.
Although now 12 MMs, there only a grand total of 69,000 shares for sale on the offer. Hmmm.
Couldn't have said it better myself except I did on yahoo under my first name Raymond. You did leave out that I began by saying that statements on these boards have little effect on the stock. Shame on you for plagiarizing but I guess imitation is the highest form of flattery. Go back to your TV job Hazel. Unless you are a maid (sic) man.
When they file, the internet should blow up with the hope that people who have to poison their body with chemotherapy may someday be able to utilize a vaccine to cure cancer.
While I am not old enough to remember when people took a shot that left a scar on their upper arm to prevent Smallpox, I do remember as a child that people feared going to public pools lest they might contract Polio. Pictures of children in iron lungs frightened the public. God bless Jonas Salk for eliminating this scourge.
Let's hope this vaccine will be a gamechanger for millions of sufferers.
The bullish revenue predictions can come home to bite holders if the numbers disappoint.
The last quarter ending June 31 was a nice surprise with 9 million in revenue dampening fears that the first quarter where Elite was its own distributor would be a downer.
The quarter ending September 30 in 2022 was 8.6M.
Any number above 9.5 million for the 2023 September will be acceptable and show revenue continues to improve.
Hopefully NH will again be prepared on the conference call to give investors an idea of future growth especially with the Adderall xr which has been a laggard.
Watching the tape it appears the new investors here are still looking for some size to buy but MMs are showing very low offers to sell.
11.125M
Let the countdown begin. Money makes the world go round.
You can use their Sink or Swim format which transferred with TDAmeritrade.
Years ago, when I had a heavy margin account, if a stock fell below $5 a share, it would lose its margin ability causing a heavy cash call. Tried painting the tape ,which worked for a time ,but eventually a stock will go where it wants to go.
That being said, it sure feels better when a stock closes on an uptick and sometimes the last trade is by someone who knows or feels a stock is going to open much higher the next trading day. For example, a person might be tempted yo buy here on Nov 14 close hoping for a nice after hours report of the quarter 10Q.
FFTC and ignore the hussy.
Big consolidation in the brokerage stocks as the commissions dried up due to competition. I had Scottrade, which became TDAmeritrade (Canadian Toronto Dominion Bank) which now Morphs( excuse the Pun to our new poster) into Charles Schwab.
If you feel that way you should sell. You do realize that selling your shares is the same as shorting if you hope to buy back at a cheaper price.
Thanks for the info. I am thinking of opening an acct with them since they have the best margin rates. Are you happy with them regarding execution etc.?
The problem with being on the OTCB is that it is difficult to buy or sell any decent amount of shares without causing a dramatic shift in the PPS in either direction. Yesterday and todays activity was unusual when a MM INTL, who is usually not vert active, offered to sell 822k shares yesterday at .12. Since these offers to sell are often fake and are withdrawn before it was "hit", I was interested to see if he posted again today. Sure enough someone took out the offer for 683,000 shares which represents a nice hunk of change. Once that big trade was completed the offers to sell have dramatically dropped.
Years ago, this market was dominated by a firm known as Herzog, Heine and Geduld, who made a market and agreed to cover for any order size, in effect being a stock bookie. They were highly successful and were bought out by Merrill Lynch in 2000. Now the market is dominated by a group of MMs who often manipulate the stock instead of serving to assure an orderly market.
The low bids and offers make this stock almost impossible to trade although some here claim they do.
People who want to ring the register or accumulate large amounts will often have to wait for an event such as an earnings surprise or a report of a successful filing or contract. The average 1 million a day volume is peanuts and does not represent the total holdings of many individuals here.
You didn't listen to call live. It may have been redacted from transcript. At the time, I was surprised he mentioned the exact date. Then again, I am old and a little deaf.
November 14 is the date for the motion to dismiss argument in Federal Court where the MMs will argue that they should be allowed to continue to manipulate the stock price. Look for a decision denying the motion as a recent Federal decision has gone against the Market Makers.
Once the motion is decided, a trail date can be set and a possible huge settlement looms.
That along with the probable filing in England should propel the stock above a buck before the new year.
Watching MM activity on Level 2 of the three new MMs who may represent new investors who have propelled the stock above the previous dime resistance level. At present, these MMs are quiet which indicates to me that they are allowing the stock to meander before their next purchases.
Offers at this time are low as the minimum bids and offers have dropped down to 5k shares as opposed to 10K when the stock was below a dime.
It will be interesting to see if there is a news event before November 15 which can cause a breakout above the new 15 cent resistance.
The eggs have still not hatched so I can' tell you how many chickens I will have.
NH specifically said see you on November 15 on the last call.
Hope you see what I meant. This is a long term hold if you believe that earnings will continue to increase and the company will add new big revenue ANDAs to sell. Until then paper gains are just that- Paper Gains. Today apparently more people decided to ring the register.