Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

"Gifting" warrants = lack of transparency

(1) $ELTP wants the warrants cleared out.

(2) $ELTP wants the monies in their treasury now.

(3) $ELTP wants the warrant derivatives removed from the acounting for the 10-Q and 10-K

(4) $ELTP wants clarifed accounting scenario for their potential
Partnerships and/or sale of the company to Major Pharma

I don't see how any of those goals are served by gifting warrants, now a total of 3,125,000 warrants have been gifted by insiders.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112857977

At least Narine Jeenarine said to whom he was gifting. Just to be clear, these guys own these warrants and can do with them whatever they want. But if their intention is to clear warrants, put monies into treasury, or clear the books, then they picked the most opaque, least transparent way possible to do it. If Narine Jeenarine's son and whoever received Ashok Nigalaye's warrants immediately converted those warrants to common shares, then the company knows but shareholders do not. Likewise, if those individuals asked to remove the Restrictive Legend, then the company knows but shareholders do not.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=112858466

Maybe all 4 of the above-mentioned goals have been served, maybe not. And maybe company insiders have a duty to shareholders, maybe not. But gifting of warrants = lack of transparency.