Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
that million share bid keeps popping up for a minute or two and then gets pulled.
I have no doubt that he still supports Elite. Where I was going with that was, Do you think he had to resign to avoid a conflict of interest with his investment company if they are heavily invested in Elite?
Link to 8-k citing the resignation of Ram Potti. He was appointed to the board as a result of the Strategic Alliance with Epic. I wonder if he also resigned from Epic or if he just resigned from Elite. It looks like he also is managing an investment company that manages start up health care ventures. Could that have anything to do with his "personal reasons" for quitting the board?
Ram Potti
Director
Ram Potti has served as a Director since June 24,2009. Mr. Potti was elected as a member of Elite's Board in June 2009 as one of three directors designated by Epic pursuant to the terms of the Epic Strategic Alliance Agreement. Since July 2008, Mr. Potti has been the Vice President of Business Development of Epic Pharma LLC, a manufacturer of generic pharmaceuticals and Elite’s strategic partner pursuant to the Epic Strategic Alliance Agreement, in which capacity he handles the company’s new ventures and products. Mr. Potti is also the founder and current President of RSMB Investments LLC, an investment company that specializes in startup ventures in the healthcare and technology sectors. In addition, from 2002 to 2006, Mr. Potti was the President and Chief Operating Officer of Trigen Laboratories, a company which he founded that manufactures generic pharmaceutical products. Mr. Potti holds a B.S. in Chemistry from the University of Kerala, St. Albert’s College.
http://www.sec.gov/Archives/edgar/data/1053369/000114420413000451/v331358_8k.htm
Looks like we will hold at this inflection point until January. .084 seems to be where we will end the year. Exciting times ahead for ELTP.
I think longs will continue to get cheapies until after the first of the year. I am not expecting any of the PRs to hit until then. I could be wrong, but am looking forward to what January has to offer!
Looks more like consolidation to me. Six green days in a row. I hope we close above .09 today and then head up to .10-.12 by EOY.
ELTP is also in all the buzz clouds.
http://investorshub.advfn.com/boards/tcloud2.aspx?i=1
On the First Day of Christmas my Jerry gave to me,
a big boost for E L T P !!!
Apparently MAXM has unlimited shares. Nearly 2M shares sold by MAXM and the PPS is stuck at .085.
It is only 1.5M shares, but they will be worth a lot to someone! Today's close will tell us a very important story.
For my moving averages I use a combination of the 8 EMA and the 20 SMA. If we close today above .085, that will signify a close above the bullish crossover of the two. As of right now, the upper bolly is a .0905 with the bands pinching. I think that even without news this week, we start to ride the upper bolly back up to the next area of decision which is right around .11. We'll see what happens, but IMO we see double digits this week with or without news.
Dont be fooled by the no bid support showing up on Level II. No one is selling their shares at the bid, only at the ask. And apparently MAXM has shares they are parting with, but only at the ask.
That took nearly 250k to move the bid up to .087
that is over 200k bought at the bid in 30 minutes yet no move up in pps. someone is likely covering in anticipation of something.
125K shares bought at the bid in the last half hour. PPS hasn't budged.
One MM flashed a 120k bid at .083. When no one sold to them, we saw these 10k and 25k buys start at the ask. They are spacing them just far enough apart so as to not drive the price up while they are covering. Hopefully MAXM will get a clue and start to creep up the pps.
Apparently MAXM has unlimited shares at .085
Yeah, I am still waiting for these waves of PRs
I think this is just a technical move. Possibly there could be some anticipation of a cash flow positive quarter which includes milestone payments. Who knows.
UBSS has moved to .14. Any buying at all today and we get back to .10.
Couch,
I think, unfortunately some longs are exhausted and newbies are spooked. But this is all market psychology in play, nothing new or really remarkable about the way this is trading.
I for one do not subscribe to the manipulation theories. There are so many eyes on everything in the market world, even these pennies, that I think it highly unlikely that there really is any manipulation going on.
The fact is, even though this company has so much going for it as far as pipeline is concerned, investors and traders are saying, "Show me the money." Once the company is consistently profitable, the pps will rise accordingly. Most penny stocks in ELTPs situation would have done a reverse split by this point to get the pps into a range that would attract new investors. I for one am glad they have not done that because inevitably that leaves the current shareholders holding the bag for a while. I think it speaks to this company's commitment to its shareholders that they are soldiering on without taking any shortcuts or quick fixes. This will definitely be a value stock some day IMO, it will just take quite some time to get there. No one should ever put all their eggs in one basket hoping to strike it big, as that almost always leads to significant drawdown and disappointment.
With that said, many people "investing" in pennies do just that. Truth be told, even the most optimistic long on this board is by definition a speculator, myself included, because this company does not yet have the financials to back up an "investment." Do I hope this will go up soon? Of course! But, I also am realistic to believe that without news we could see levels that no one thought we would ever see under any circumstances.
Sorry for the rambling, but I think that those who are long need to believe the lip service that has been given that this stock will take time to appreciate in value, because guess what? It will take time. I got in March 2011 and am speculating that this will be a great turnaround story eventually. It will make you crazy to watch every tick up or down (believe me, I've done it from time to time). Make a realistic plan and stick to it. The most successful investors never go all in on anything. They scale in and scale out as the situations arise, and they take their predetermined actions accordingly.
Good luck to all. I really hope we are all able to meet our own goals with this stock.
Tomorrow will be key for the chart. With the wick bouncing off the lower bolly today and the pps closing away from the lower band as well, this could well be the start of a reversal pattern. A close in the mid 8s tomorrow would make me think we are heading back up, but we would need some more confirmation candles for that to be the case. Without news though, this really could go either way until investors have something to feel good about. I choose to pick up more shares at a discount. No way I am selling anything down here.
Looks like we have nearly come full circle on a trading cycle. If the earnings disappoint expectations, then I believe we will see a real capitulation sell off, which will be a fantastic time to pick up shares. As people sell off in disbelief, There is a really good chance we could see some 5s and possibly 4s. I would have never thought we would see anything below 10 again, but the trader and investor are both fickle creatures that are emotion driven no matter what they tell you. Between now and the end of the year will likely be a great opportunity to double down and then wait for a good rise in pps next year. Good luck all.
That is the best news I have heard all day!!!
Looks like the market will be open tomorrow.
Very true ryan. The folks on the street won't even give this a sniff until financials show a profit. In spite of all the great things in the pipeline for Elite, right now we are all really just speculators in the eyes of Wall Street.
Have you looked around lately? The "new normal" in the US is 20 pounds overweight for adults. Lots of need.
.12s are up!
ETRF will have some asks in the .13s, but I do think this will move really well on the next round of news. I do expect there will be a bit of selling into the news with a lot of buying back at higher prices because this thing will still be running.
Looks like unlimited shares available at .1189. Get em while they're hot.
Grabbed 23k more cheap seats just now. Got my seat belt fastened and my arms and legs inside in the ride! Ready for the next leg up. With a good news Friday PR last week, I would not be surprised to see something good mid week.
I must be pretty slow at flipping. Over half of my position is long term by now. I do keep adding on the dips.
I am already a couple hundred thousand shares over what I told myself I would buy. I can't believe the discipline it is taking to not buy any more. I am still averaged below the current pps so that is helping. If we ever see single digits again, though, I will buy the remaining float.
All right, I filled the gap at .111. Let's move this baby up.
Lets print some .111s to fill the gap then move this fun bus parked at .113
Any time the government is involved, you can plan on it taking forever. I was a federal employee (US Air Force) for four years and know first hand how slooooowwwww everything gets done. The individuals at the FDA are in no hurry as they have no skin in the game. They can't trade on the information and they really don't get anything out of it at all. The file is probably sitting on someone's desk and has been there for a while.
Slow start to the day, but now someone is nibbling away the ask.
And even more lurking....
I was thinking either today (which didnt happen) or Monday/Tuesday next week. Here is why. I of course reserve the right to be wrong.
-FDA inspections were completed over 5 weeks ago.
-Nothing in government or the financial sector ever gets done until after Labor Day
-They have had a couple weeks since the holiday to get their reports done and filed
-Elite take a couple days to get the PR prepared and filed with the SEC
-They release the news
My timetable is based only on conjecture and not fact, but it seems plausible to me. Either way I am in for the long haul, so it doesn't really matter to me WHEN it comes, just so long as it DOES come.
Where's the fun in that? :)