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.
Kind of strange, stock price went up over a penny in just about 30 seconds.
Traded down to .0901 then to .102.
I thought there must be news.
But nope just someone in a hurry to grab a few 100K shares.
GLTA
Your post
Their are many under valued and over valued stocks.
Because it is not recognized today does not it won't be recognized?
On what promises has eltp failed to deliver?
Please link something from a conference call that they said would happen and now will not happen.
Since they have failed to deliver.
This company under hypes and follows through with what they say.
There are people who pump this stock, I might get a little excited myself sometimes but the company delivers.
Waiting for your answer.
GLTA
Benn watching ctyx for a while and it looks like the over hang is gone.I think anything under a penny will yield 100% in the short term and much more in the long.
Should run through both 50 and 200 day ma this week.
Love the small float and business plan/products.
GLTA
Ya I really like ctyx.
Been dormant for a long time and get the feeling it about ready to fly.
Anything under a penny is a steal.
GLTA
When I spoke with the ceo I think he thought by updating the counter he was keeping the investment community informed of how well the company was doing.
lol
Good one!
It seems as though they are really getting their ducks in a row.
I agree the new hire Tom Petronio is pretty impressive for elite.
The only negative that I can see is the Fed Gov delays.
So what we/management thinks will take 3 months might take 6.
So timing is hard to predict.
Anyway I think it will be a fun year and with a little luck (coming from the Fed) I think we will see .30 to .60 in the next 9 months.
I bet Terren Peizer is looking for a much better return than that down the road.
GLTA
Thats what I thought.
So what was your exit and what will be your reentry?
Me to.
50 and 200 ma about to cross.
Lots of potential news.
Me thinks somethins up.
Could be a fun week.
GLTA
I am excited, but then again I own eltp.
Thanks for info on Lordane.
Hope it is sooner rather than later. ( never know with FDA they may already be on summer break)
Either way it will be a very nice revenue stream and will be a surprise whenever it happens.
The company was cash flow positive on this drug alone.
GLTA
He has some concern for stock holders.
If you can get a hold of Him he will take time to answer questions.
I just think he has the wrong philosophy.
He said many of his employees have stock, so I would assume they would occasionally but a bug in his ear,(Hope its a fire ant) lol
I would bet we will get another pop when pr's are released.
GLTA
I am pretty certain that material events have to be pr'd in 4 business days.
GLTA
Wow no sellers or buyers today.
6K volume.
Never remember seeing it this low.
Temporary blip.
GLTA
Is that the year 8000? lol
Very funny,
But true.
I am a landlord and many young couples without children treat their dogs better than than some treat their children.
Lets see if they can get some big chain stores to sign up.
GLTA
This product will help ctyx move toward being cash flow positive much quicker.
It is good to see more irons in the fire.
I have a feeling ctyx will turn and will turn quickly.
Last summer it was down around .005 for a extended period of time, and them moved up 100% in few days.
The time to buy is when GM is euphoric.
I have never seen him happier.
GLTA
Have you spoke with Diane, I know i need to give her a call and find what the hold up is with hydromorphone. I expected it weeks ago.
GLTA
Share price does not always equate to the value of a company.
Many companies share price do well for a long period of time with little validity, then collapse.
Was the company worth their inflated price?
According to your logic yes.
Others for no apparent reason will fly under the radar for a long period of time with little interest.
Then for some strange reason they will get noticed. You say the "real test is how the shares are valued".
Can't disagree that the street does not value elite very highly right now. But to say that because a companies stock is low now that it tells us the company has no value and the companies stock is worthless, well if that is your logic.....
Does the current share price equate to the value and potential of their pipeline?
I am betting in a big way no.
Many may be waiting for another 3 or 4 drug launches and a quarter or 2 of profit to invest.
I understand that strategy.
What is your investment strategy on eltp, I would think with the amount of time you have put into the board you have some kind of monetary motive.
Be interesting to see of the 750k bid shows up again.
I agree. I think we will be green this week .
I'm guessing we will see news.
GLTA
I think I might give Diane a call on Monday. She is very consevative so my guess is even if the s1 is out of the ordinary as many believe it is, she will most likely say it is standard procedure but. It is interesting that they filed 3 pieces of info for the funding. (8k,10k,S1)
Any way I suspect we will be out of the .09 range and in the teens somewhere by eom.
Feeling comfortable that eltp will be cash flow positive this quarter.
GLTA
I am trying to figure out who is correct on this one.
I don't know which side has the most valid argument on the s1.
I have had owned several companies that filed them with little impact on the share price.
I did pick up another 30k at .0945.
GLTA
.
20 k shares took out the 09s. Where would be if that 750k bid person deicides to grab it at the ask.
Again I may be making somtehing out of nothing but 750k bid is something I have not seen here in a while.
GLTA
No I think it might be Dr L attempting to pick up a few shares. lol
It is very good see and would think it might be an institution picking up an intial position. Just a guess.
GLTA
750 K bid .0942 WOW
Ya I see that, a huge bid at .094. I don't remember seeing that large of a bid in along time. Someone wants to drop 50k into eltp.
Nice!
Several positive changes in the Form 8-K/A
29-Feb-2012
Entry into a Material Definitive Agreement, Financial Statements
Item 1.01 Entry into a Material Definitive Agreement.
Securities Purchase Agreement
As previously reported, on December 30, 2011, Elite Pharmaceuticals, Inc. (the "Company") entered into a securities purchase agreement (the "Purchase Agreement") with Socius CG II, Ltd., a Bermuda exempted company ("Socius").
On February 28, 2012, the Company and Socius executed an amendment to the Purchase Agreement, certain exhibits thereto, and the Warrant (the "Amendment"). For more detailed information about the original terms of the Purchase Agreement please see the Company's Current Report on Form 8-K filed with the Commission on January 5, 2012 and the Purchase Agreement and other related documents filed as exhibits thereto. Capitalized terms used below that are not otherwise defined have the meanings set forth in the Purchase Agreement
The primary changes effected in the Amendment are summarized below:
1. The exercise price for the Additional Investment Right and the Warrant was increased from $0.07 per share to $0.10 per share and the initial number of shares of the Company's common stock issuable upon exercise of the Warrant was reduced from 25,000,000 to 17,500,000.
2. Pursuant to the Purchase Agreement, Socius had the option to pay for shares of the Company's common stock that it receives from the exercise of the Warrant and the Additional Investment Right with cash or a promissory note (the form of which is attached to the Purchase Agreement). Pursuant to the Amendment, Socius no longer has the option of paying in cash.
3. Pursuant to the Company's Articles of Incorporation, the Company has the option to redeem the shares of Series F Preferred Stock held by Socius by paying the redemption price either (i) in cash or (ii) by offset, exchange and cancellation of all outstanding promissory notes issued by Socius to the Company in connection with the automatic exercise of each of the Warrant and the Additional Investment Right such that following such offset, exchange and cancellation, no further amounts shall be due or payable with respect to such shares of Series F Preferred Stock or such promissory notes and all of such shares of Series FPreferred Stock and promissory notes shall no longer be outstanding. Pursuant to the Amendment, the Company has agreed that it will only elect to pay the redemption price by offset, exchange and cancellation of all outstanding promissory notes issued by Socius to the Company.
4. Pursuant to the Purchase Agreement, in the event the closing bid price of the Company's common stock during any one or more of the nine (9) trading days on or immediately following the delivery or deemed delivery of a tranche notice falls below 75% of the closing bid price of the Company's common stock on the trading day immediately prior to the delivery or deemed delivery of a tranche notice, the tranche will be cancelled, and upon such cancellation, Socius was required to redeem any outstanding promissory note tendered by Socius in lieu of cash payment for Additional Investment Shares or Warrant Shares issued in connection with the applicable tranche notice for the principal amount of the promissory note plus accrued interest in exchange for, at Socius' option, either (i) cash or (ii) (a) 92% of any gross proceeds received by the Socius upon the sale of such Additional Investment Shares or Warrant Shares issued to Socius in connection with such tranche notice and (b) the return to the Company of any unsold Additional Investment Shares or Warrant Shares issued to Socius in connection with such tranche notice. Pursuant to the Amendment, Socius no longer has the option to redeem its outstanding promissory notes using cash.
5. No provision of the Purchase Agreement or the Warrant can be amended or waived by the Company or Socius.
6. Neither the Company nor Socius can assign any of their respective rights or obligations under the Purchase Agreement. Additionally, Socius cannot transfer any of its obligations under the Warrant.
The description of certain terms of the Amendment set forth herein does not purport to be complete and is qualified in its entirety by the provisions of the Amendment, a copy of which is attached hereto as Exhibit 10.2 and is incorporated herein by reference.
I think there will be opportunities to trade skzw from time to time.
I agree with your answer to my question.
I do not agree with your personal assessment/insult of the ceo.
lol
The answer to that is no.
Basically Peter was very friendly but clear with me. It took Him 25 minutes to say,paraphrased (you'll get what you have gotten). Exact words "The share price will take care of itself".
In his defense, I have never heard someone more committed and passionate about a business.
Does a profitable growing business equate to share price if no ones knows about it??
glta
I got threw to Peter by calling.
Was polite and professional.
I would guess calling might be the only way to have communication.
The updating of the counter more frequently might be a good sign?
GLTA
Kinds of feel like we are sitting on a very active volcano that has been quite for a while.
You don't know when it will happen. But you can sure feel the ground shake from time to time.
You know at some point the whole top of the mountain going to blow.
GLTA
If eltp does a reverse merger into epic, is there anyway to estimate what the share price might look like on the other end?
So much going on here, makes my head spin.
If MM have been able to keep the price down for a group of people tp accumulate stock. I would guess that they are not going to be able to do so for much longer if at all.
GLTA