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ELTP has submitted many ANDA's which will be approved before Sequestox which will drive the SP upward. However, once Sequestox is approved this will bring about a buyout.
N2k-Nice post! Thanks.
.1239 is the magic number. Not only Dash but Nasrat also has bought shares at this price. A tremendous effort has been made to keep Eltp below .1239. There are probably many Form 4’s with this sp buyin. Once Eltp closes above .1239 this will begin an avalanche of buying that will be hard to stop.
IB- Interestingly, probably neither. In a buyout who wants to do all that paperwork and additional costs. The company buying him out will just essentially buy those shares as they are with acknowledgement on paper. There will not be a formal conversion on Nasrats part. Besides Nasrat being the majority stockholder can do what ever he wants. He may go the cheapest route which is to me just authorizing himself more shares if he needs to or not bother at all. But we will never know that anyway.The buying company will just figure all that into the buyout SP. They will submit paperwork to the Nasdaq. NASRAT wants to be a billionaire. He has authorized himself enough shares at a certain buyout price that he will come out to be a billionaire. Just take the number of shares he has and divide that into a billion dollars. That will be the lowest SP he is going to accept. Remember the covering of the beads can work for any drug not just narcotics but also for ER meds. There is deep resentment on his part somewhere in the past. I am sure he will be giving someone the one finger salute in the end. Also remember the value of ELTP is going up as well.[url][/url][tag]insert-text-here[/tag]
JT- Not a matter of "if" but "when".
n2k- Thanks. It is so sad we have to keep going over and over this. It is so obvious.
With the low volume earlier this week, manipulators learned that very few shares are being given up by us retail investors. Their efforts are returning very poor results in terms of getting retail investors to sell their shares. We have seen in a change in MM activity. Elite is now coming into its own after having successfully dealt with the FDA and now are just awaiting the FDA green light. MMs are just letting ELite go on its own now. This means we have reached the final stage of manipulation. Remember manipulators do not choose bad stocks to manipulate. First stage-run up the stock price quickly. Second stage-short the stock down for as long as you can. Third stage- let the stock go and sell out on a high note. Fourth stage- move to another stock. We are now in the beginning of the third stage. With FDA approvals slowly coming in we have a long upward movement ahead of us. Shorting for so long is just another way of accumulating shares. The manipulators have squeezed almost every share out they can practically get. It is now costing them more to get fewer shares. They made a lot of money shorting down now they are going to ride the wave up and sell out. Then goodbye Elite. I will miss them. Nas will sell out. CEOs who plan to sell the company in the long run simply collect shares. Nas has gained stock control now and he will get a nice sp for Elite. Nas simply increased the shares enough to get 51% control of ELITE and keep ELITE going until ELite gets through the FDA which Nas knows is a long process.
MMs learned yesterday they were doing a lot of manipulation for very little return. Very few shares were given up by longs and informed investors. At least no fake 500,000 bid today.
Sharky- You are correct. Being short is a clever way of accumulating shares as well.
Low volume suggests no body is selling. All informed investors are holding, not selling. All are accumulating! You may have to go above the bid/ask sp to get shares. MMs are learning that the "real investors" are holding.
At critical junctures the MM's need to see what the activity is like "a-naturale"- meaning no manipulation, no LPC, no dark money, no hedge fund activity, no naked shorting, etc, etc. no nothing. They want to see what "normal investors" are doing without all the background clutter of manipulation. This often suggests a change is coming for the positive. It also gives us a clue as to real shares that are bought/sold vrs. naked shorting. Just look at the volume the day before and today-subtract-you have a good idea about naked short, etcs which in the past ran about 50% or so. So interesting days ahead.
N2K- Thanks for your comment. I think this will be an exciting year which ever way Elite goes.
It is almost like Tuesday's FDA announcement was written exactly with ELTP in mind. I think that this was a subtle clue that the FDA is going to give ELTP the green light soon.
There is nothing wrong with this stock that the FDA can't fix. They now have all the good test results. Eltp has patiently answered all questions. So it becomes a game of "chicken". How long can you wait til the FDA makes a move and you lose out on buying ELTP. The time frame of this opening is closing fast do to the recent FDA activity with ELTP where before we were ignored for months and years. The politics is catching up with the FDA.
JD-A loss of 6/1000 of one penny is not a waterfall loss.
JJ- I totally agree. Two FDA directors ago Sequestox was ready for approval. I think that was the female director then. With the new director replacing her we had to go back and do more studies when at that time it was determined it was just a labeling problem. Nas has some choices here- he can take the political route with Congress. He can get approval in China, Europe, or Canada and then force the FDA to give approval for Sequestox. Nas can smile, grin, and bear it. This is what he has done to date. He has been in BigPharm for many years and knows all the BS that goes on. He knows all the tricks that Big pharm can do. He knows if he plays nice, smiles, and jumps through the hoops eventually we will get there. I think he came to ELTP because he saw the problems BigPharm was having developing a Sequestox like drug. He saw Elites approach as a real winner because it can be used with many drugs not just Sequestox. Remember Pfizers first attempt was a total failure. Pfizer has been dragging their heels in Europe and was recently fined for not introducing medications that would have helped because then the generics would follow and take their profits away. Unfortunately because of smile, grin and bear it approach takes a lot of time we have had to endure absolute total nonsense for years from the other side. It certainly has nothing to do with ELite or Nas but the FDA.
Dr. L. So low tech that Pfizer and Purdue together spent millions of dollars and have not got a better solution. 5 years is do to FDA. It took them 6 years to give thumbs up on an old product. I would blame the FDA not Nas.
Newguy- Your right. Why waste time and money doing a reverse split when your selling ELTP in the end.
Lets see the colossal list of failures.
Conix-Nice post. However look at it a little differently. Nasrat used 1 million of his own dollars to help ELTP. Nasrat gets paid in shares. He has these preferred shares which if converted now, there are not enough shares currently to make the conversion. All these shares allow Nasrat to control the fate of ELTP. He can vote himself these shares any day he wants. But ultimately, what CEO would go through all this effort if he did not believe in the ultimate success of ELTP. He is telling us success is guaranteed. Of course this company will be sold or made part of some other deal so he can convert these shares into cash. We all want this. Nasrat is no dummy for sure. He knows how to run a pharm company, he knows law. In the end we will all be grateful to him. I have always suggested buying these shares while they are cheap because when the final deal is made the true value of these shares will be determined then. They could go from 10 cents to five dollars a share instantly overnight in a deal and never end up being sold on the OTC. No one will ever get the opportunity to buy any more shares. Done deal instantly, ELTP gone from the OTC. This is what I worry about.
Two FDA directors ago we were all set to get approvals. But the next director had a problem with labeling and peak blood levels. That was BS. Pfizer just got fined for delaying introduction of a new drug in Europe which then delayed the introduction generics there. We will get approval as there has been nothing actually really wrong with Sequestox and others. Hopefully, the FDA will follow suit and fine Pfizer in the USA.
Every effort must be made to save lives. ELTPs effort is outstanding from several points of view. To mention one, remember that the coating process is revolutionary and can be applied to many medications not just narcotics. This process is important. The Chinese realize this. Bigpharm just tries to protect their territory. Stupid! It will more than likely end up that the Chinese will own this coating process and even more valuable technology will be transferred overseas because US Bigpharma is territorial, selfish, and narrow minded.
Newguy-The one sure clue there will be a buyout is that Nas gets paid in shares.
This means the FDA is getting ready to give us the green thumb on some of our apps or that they are actively working on our ANDAs. So something is coming from the FDA soon and they want to get our name correct.
Stockboy- You know better than that on naked shorting. The volume figures are never correct anyway because nobody is counting naked shares, dark money, and trades on dark exchanges. Just hit the easy button and flush, all gone.
n2k-Thanks. Sanity returns.
JJ,N2K- Thanks. Just as long as they do not get it from Purdue!
Let's not lose track of the fact that Elite needs to make their own Oxy. By making their own Oxy they have cut manufacturing costs for SequestOx in half. They don't have to rely on buying their Oxy to manufacture SOX. The FDA is also under pressure to reduce the cost of these new tamper resistant drugs. While it might seem that everybody is now making Oxy and that is the opposite of what you would want to "control access" to these drugs there is a reason the FDA wants other drug companies to be able to manufacture Oxy to use it in their own drug abuse formulations. Elite will absolutely get thumbs up to manufacture its own Oxy.
FDA Warning Letter - No big deal. There is always someone who is allergic to a particular drug. If penicillin was new on the market there would be lots of FDA warning letters and bad reactions to PCN. Every drug ever made has an insert that says do not use if allergic to this particular drug.
Where are the chart guys? I am not an expert on charts but if you simply draw a line from high of March 20 and high of May 15, the next breakout will take us over .90 cents.
Because ELITE can control the BE so precisely, ELTP will set the new standard for all BE studies in the future.
Bngo- I believe that from the number of subjects that have enrolled and completed that the results are "top-line" results. I think it is a matter of enrolling enough subjects. It may have taken a little longer to get the number of subjects they needed. Not unusual at all in clinical studies. What is very good is that Nasrat is saying is that those that have completed the results - the results are top-line. I have no problems with that having done clinical research. After all this time and all these tests one more month is fine with me to accumulate more shares.
Again, the upcoming PR about the BE results is not just about the BE results. It will further address new deals, partnerships, and possibly conditions for a buyout. FDA approval no longer in doubt. Buy now or kick yourself in the ass. We will see more manipulation to get more cheap shares through fear up to the last second before the PR announcement.
Shorts know the end is near. They could very well push this down further to cover or simply gain more cheap shares. Nasrat is being very careful with this last BE PR. I believe that this next PR will not be a simple BE PR and will include revealing several other deals made or information on whether we will partner or be bought out. FDA final conformation is not an issue anymore.
This close represents MMs trying to grab as many shares as they can before the big news. There is always a bear raid before a big run up and good news. This will be one of the last bear raids for this stock. MMs just got free money on the back of fear. They just padded their accounts. Just plain easy money for them. Maz is totally correct.
LDC is smart. With Nasrat so close to our goals why sell those shares now and give away millions of dollars. Saying LDC is selling those shares is just trying to use them as an excuse for all the naked shorting that goes on everyday here trying to slow down the rising SP of ELTP. Yesterday was a prime example of outright and blatant thievery.
N2k-AMEN! And it is good that Nasrat is so eager to get all those shares as it means sometching good is in the pipeline.
N2k- I agree . I think Nasrat is trying to tell us that Sequestox is in the bag. He cannot tell us directly but by getting these shares now is smart. There are other big deals on the horizon as well. Additionally I think these shares will never see the light of day. I am sure these shares are leverage and I think Nasrat is trying to gain 51% and what he is doing is one way of achieving this goal. Although we have the poison pill having 51% of the shares is a safer bet. Nasrat is telling us big things are ahead and how good it is we have aCEO buying Hugh numbers of shares in his own company especially at this critical point. Thanks for all your due diligence and excellent posts
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The timing of this announcement for Nasrat and the J series shares is perfect. It reflects he has really positive early info results for the BE study due to be released in mid-May. Again, Nasrat is telling us in no uncertain terms ELTP is going to do very very well.He has given us an advanced heads up and time for a buying opportunity.
This new agreement for Nasrat and J series shares reflects the literally slam dunk success of ELTP. He is telegraphing the best way he can a very optimistic future for ELTP. Everyone should be buying, holding, and accumulating to the best ability of their bank accounts.