Elite Pharmaceuticals Inc (ELTP): What is the Restricted Legend? Re...

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Re: lasers post# 151450

Friday, 04/17/2015 6:41:02 PM

Friday, April 17, 2015 6:41:02 PM

What is the Restricted Legend?

Restricted $ELTP Warrants can only be converted thru $ELTP for conversion to shares so that the Restricted Legend remains.

Sorry for my ignorance on this subject. I've learned a lot today about warrants from multiple posters, which I greatly appreciate. When these particular warrants are converted, it will mean monies (~$78,000) into ELTP treasury, but since they no longer belong to Ashok Negalaye, it would not be a reportable transaction and no SEC filing? And then how long before those shares can be sold on open market?

"There are three kinds of lies: lies, damned lies, and statistics."

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