Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Depends on what your definition of "is" is.

Dianne; also said the TA was not gagged when it is!!!

Did she? How do you know? Link?

What Dianne said to me is that there is no such thing as a "gagged TA." She says the TA will not release nonpublic info (period!). From her e-mail: "The transfer agent is not going to provide non-public information – nor have they been “gagged” by Elite. I believe this thinking is a myth grown out the message boards."

This all came about because last week I went to TA website and filled out their inquiry form with my full name, e-mail address, and one question: what are the outstanding shares as of today?

48 hours later I got a response requesting further verification information. At that time, per their request, I provided my name, address, birthdate, last 4 digits of SS#, and account numbers of the two accounts where I hold shares of ELTP.

4 business days later I received this via secure communication:

Dear Mr. ________,

Thank you for contacting our Shareholder Services Department.

We are unable to confirm your position as they are held in a brokerage account. Please contact your broker directly.

We are unable to verify the total outstanding shares for Elite Pharmaceuticals Inc. Many times this information can be found on the company website.

In the event you require additional assistance, please contact our Shareholder Services Department at [e-mail].

We trust the above information is helpful.

Sincerely,

Stephanie Slight
Correspondence Department

So there you have it. If you believe that you should be able to call a TA and get up to the minute o/s count, then that is not true of this stock. If you choose to call that a "gagged TA" then so be it. Dianne would not support your choice of vocabulary and would tell you that Elite has not instructed the TA to behave in this way.

I have subsequently done an informal poll of people with much more experience than me and whose opinions I respect. They were split right down the middle. Half said she was correct and the TA should not be releasing nonpublic info to anybody. The other half vehemently disagreed and said this is the precise definition of a "gagged TA."

I provide all of the above without commentary, but I would like to add one caveat: if they never intended to release any info to me, then why ask for me to verify my holdings? And why the 4 day delay before responding as they did?