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Looking at the numbers posted in the last 10Q, it would appear dilution has all but dried up:
O/S #'s on page F4:
June 30/2019 - 828,993,695
September 30/2019 - 832,942,060
December 31/2019 - 833,953,570
My calculator shows an increase of 4,959,875 shares from June to December 31/2019. Would you consider this an excessive number? Keep in mind several Elite employees have chosen payment in shares as part or all of their salaries.
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.
Which has never been a positive in the history of public markets.
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?
Just a couple paragraphs of an alleged agreement? lol
Everyone knows thats worthless. Not even signatures rofl
Thanks anyway
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.
First of all, whatever Sungen & Elite agreed to has ABSOLUTELY NOTHING to do with what the NEW DEAL is with Lanett
Always happy to contribute clarity to the forum
Laughable nonsense.
Ancient history.
Lanette wasnt party to those agreements.
Only way to uncover the truth is reviewing the agreement with Lanett
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
The manufacturing comment came from Elites PR. Theres no mention of any other economic benefit being realized by Elite
Hope this provides a better understanding. Glad I could help
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.
Glenmark just wanted out of any connection to the company
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
Do you have any idea what he is referencing about Glenmark?...I didn’t catch anything about them during the CC..
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.
yeah..maybe...but the Glenmark thing is troubling...even the slickster couldn't find some excuse and bring it up in the CC.?.....He ALWAYS can come up with something...Maybe just not this time..
Nah. . .this is nothing but pure bullshit.
Could be the SEC is looking into Elite and Glenmark just wanted out of any connection to the company
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.
Elite specifically stated in the conference call back then that the first 5 million dollar payment was kept in a separate account to be used for and only for the SequestOx trials. They weren't allowed to use this money for anything else, which is the reason for the separate account.
And then Epic paid Elite 2.5 million to pay for the SequesOx NDA filing fee.
I disagree.
Epic's money.
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
It isn't even about Tmax. That was just a convenient excuse for the FDA.
Tmax was never the problem as they would have liked people to believe it was. Total BS and the FDA knew it. The AdComm in many cases is a joke.
Am sure if Elite was a much larger pharma with deep pockets they could have gotten a pass. Wink wink....
Pay for play. Especially with this administration.
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. . .
Is that the same CEO that predicted ELTP would be on the Nasdaq by now ?
his 100+ Million share sign on bonus !!!!!!!!!!!!!!!!!!!!!!
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?
his 100+ Million share sign on bonus !!!!!!!!!!!!!!!!!!!!!!
Absolute nonsense.
Hakimus could have sought approval for the Elite ER instead of the IR ...and at the same time got validation of the 2 bead platform...which he knew was not going to pass muster...did buy himself some time..real slickster
I don't recall Nasrat saying anything about private placements during the last CC.
Didn’t Nasrat mention on last call that one of the purposes for an auth increase was for potential private placement(s)? I think he is willing to sell some of company now, but not whole enchilada.
More misinformation:
so he doesnt have 22 million shares, thanks
Nah. . .laughable nonsense. This contradicts what is actually cited in Certificate of Designation. LMAO
All of the CEOs Preferred shares, when converted to common, qualify under Rule 144 exemption, able to be dumped... although within limitations to the amounts because hes an affiliate
Okay. . .and your thoughts are?
NO. . .not true at all.
So he can sell shares on the open market, of course. He can’t sell his preferred shares.
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.
Why does Nasrat want to convert his Series J preferred shares to common shares?
Are preferred shares not better than common shares, hence the name PREFERRED?
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.
there’s no way anybody holding shares wouldn’t approve operating funding
Well. . .I know of 2.4 mil shares that will be voting YES to all of the articles cited in the Proxy Statement.
VOTE NO,
Yes. . .on hold; not abandoned as previously alleged.
hmmmm curious , I suggest reading: Secretox is on HOLD
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.
Nope that is totally wrong . Sorry
No. . .not true at all. Elite did not abandon SequestOx. What they did was reformulate the opioid bead for a shorter Tmax time.
Oh and by the was after fda said no elite abandoned that product and started over
Only one was issued.
so tell us , how many CRLs were issued for simple (non complex) generics from Jan 1 2017 to 30 May 2018?