Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Calling the valuation a fraud fails the test of reality. As per US Code, Title 18, Part 1, Chapter 47, Section 1001, an intentional statement meant to deceive, made by any person acting as an agent of a firm, would be a FELONY punishable by up to seven years in prison. Here is the link...
https://www.law.cornell.edu/uscode/text/18/1001

But, for anyone familiar with what this might suggest, since the valuation was referred to by multiple people within Elite, it is much more messy. I was saving this because it is the "nuclear option" for federal prosecutors - Federal Conspiracy Laws...Here is the link...http://fas.org/sgp/crs/misc/R41223.pdf And, to be sure, most people, including executives (think Enron, Tyco, Global Crossing, WorldCom), do not know this applies. But I do.

And, let's consider how simple it is to establish the fact of the verification of a valuation... In its accounts payable files, Elite would have evidence of payment to the valuation firm...PERIOD!

Again, facts are stubborn.