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I would call bullshit on that. There have been many examples of publicly traded companies who have completed R/S's and have gone on to be very successful. Take Jazz Pharma for example. Their split consisted of a
1-for-11.06701 shares in May/2007 and their share price took off after that.
Okay let's simplify this. The set conversion price of Nasrat's J series shares has been set at $0.1521 per share. It is being alleged the conversion price will be less than the quoted price and the shareholders will be shafted. Where does it explicitly say that the price at the time of conversion (whenever that happens) will be more or less than the quoted $0.1521?
This has nothing to do with the "convertible shares" for the amount of 158,017,321. I will go with the past statements of Elite on this matter.
LMAO
(ii) "sale" or "grant of shares" below the conversion price
Just more bullshit. Reminds me of the times I was advised in the past that Elite was going BK. . .or it was being traded on the German Frankfurt exchange. . .or Glenmark USA was not part of the global Glenmark
Pharma. . .or Elite would not receive a share of Adderall XR profits. On
and on it goes.
The agreement is a snapshot included in the last 10Q. So now it is suggested information cited in a 10Q is to be disregarded?
Yes. . .a snippet of clarity from the last 10Q. Now why didn't I do that instead of wasting bandwidth. LOL
Pure BS. There is no new deal. There is, however, a Strategic Marketing Alliance with Lannett Company. Inc. dated March 6, 2019 as specified in the February 10/2020 10Q. . .a document posted only seven weeks ago. An alliance which gives Elite/SunGen a share of the licensing fees and provides Elite with manufacturing fees. LMAO.
Laughable nonsense.
My DD shows that Elite and SunGen Pharma will share equally in the development costs and sales from Adderall XR and Elite will also manufacture and package the product on a cost-plus basis.
"Under the terms of the Agreement, the product will be owned jointly by Elite and SunGen. Elite shall have the exclusive right to market and sell the product using Elite's label. Elite will also manufacture and package the product on a cost-plus basis."
https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=87711&GoTopage=2&Category=2163&BzID=2258&t=2180&G=939
Bottom line. . .the comment quoted below that started this thread is false and misleading. All is good between Elite and Glenmark as indicated in the CC today.
Hey Gman. . .I have no idea what he was talking about with respect to Glenmark. It is possible the CC transcript had not been read at the time of posting and like I mentioned earlier uninformed comments were made. According to the CC nothing has changed between Elite and Glenmark. The partnership is alive and well. GLTY
Looks to me like more uninformed comments. Best listen to or read the CC transcript. This would provide a better picture as to what pharmas are up against in the real world today. There are a lot of outside forces at play involving the DEA, FDA, partners, etc. when it comes to getting approvals and launching products.
Nah. . .this is nothing but pure bullshit.
I have been a shareholder since 2012 and am familiar with all of the CC's since that time. No such thing was said or occurred in this manner. In fact, I am inclined to call BS on this.
I disagree.
JJ. . . I agree with your post 100%. It's maddening that the FDA had Elite spend all that money on SequestOx trials only to have them issue a CRL in the end. Elite followed the FDA's guidance to the letter and then, in the end, changed their mind. And of course Nasrat was blamed the FDA's fickle mindedness. Anyway, this is old news. Elite is now on the cusp of a history making event that will change Elite's financial landscape in a major positive way. GLTU
Yes, Nasrat knew about the Tmax issue but there is much more to tell about this. . .
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151359024
Nah. . .it was a huge exaggeration. No signing bonus was given. Okay, thanks
Yep. . .
Yes...well I will go with the source (Nasrat) who actually is employed with Elite, knows the events transpiring on a day to day basis, actually communicates with the FDA as opposed to unproven, nonsensical allegations.
No. . .I don't think so. Proof?
Absolute nonsense.
I don't recall Nasrat saying anything about private placements during the last CC.
More misinformation:
Nah. . .laughable nonsense. This contradicts what is actually cited in Certificate of Designation. LMAO
Okay. . .and your thoughts are?
NO. . .not true at all.
The conversion of Nasrat's commons to J series is a four year agreement. If the J's are not converted to commons by (April?) 2021 there will be a 20% annual dividend rate incurred by Elite. It would be in the shareholder's best interests to allow Nasrat to convert his J's.
How is this possible? For the past three years all I've read about was the shorting of ELTP. . no shares were purchased.
rocioyogi. . .that is the major reason I am voting yes. GLTY and all shareholders.
Well. . .I know of 2.4 mil shares that will be voting YES to all of the articles cited in the Proxy Statement.
Yes. . .on hold; not abandoned as previously alleged.
And more BS. That article is out of date and was posted well before the pilot study which was conducted several months later. The allegation SequestOx has been abandoned is ludicrous. Elite will continue development once funding becomes available.
More bullshit. The results of the pilot study stands. Feel free to provide proof SequestOx has been abandoned.
Bullshit.
No. . .not true at all. Elite did not abandon SequestOx. What they did was reformulate the opioid bead for a shorter Tmax time.
Only one was issued.
The point is CRL's can be issued for NDA's and ANDA's and Elite has several ANDA approvals with no CRL's. How about that?