Elite Pharmaceuticals Inc (ELTP)

[Hike]

Maz:

As far as I know...no real way we can know what LPC has sold to date. We know from the last 10-Q that they had bought 60.3 million shares to date at market at an average of about .27/share.

"Through November 9, 2015, we have sold to Lincoln Park an aggregate of 60.3 million shares under the Purchase Agreement for aggregate gross proceeds of approximately $16.0 million. In addition, we have issued an additional 0.8 million Commitment Shares."

ELTP can "put" shares valued at up to $40,000,000 to LPC. (With certain caveats).

Now that being said they can be off our backs whenever Elite wants them to be. There is NO obligation on Elite's part to put more shares to LPC. Between the increased cash flow from generics and the $15,000,000 from Epic for milestones Elite does not need the LPC funding quite as much as they did before.

Still, Elite is likely to continue to tap LPC to some degree so that they can accelerate the development of 201, 202 etc.

Assuming another $24,000,000 to go at an average price of .60 between now and next year (wild ass guess) we are probably looking at another 40 million shares to be added to outstanding at the very most.

Of course we could get bought out next month and who cares?