Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Not the voting rights.

but I have no idea if the right would transfer to the converted common shares or to a new owner.

Both; nasRAT (Mikah Pharma LLC) now holds the voting rights and who ever buys Mikah Pharma will then hold control of them but a form 4 will be required to show the transfer.

The "rights" I was referring to are the "rights" granted to Preferred Shares under the Shareholder Rights Agreement. Upon conversion, did the common shares retain the "Shareholder Rights" that were given to the Preferred Shares? If so, will those common shares retain their "Shareholder Rights" if sold to a new owner? It seems if Mikah is the owner, and someone else buys Mikah, then technically the common shares were not sold and the attached "Shareholder Rights" remain in tact for the new owner of Mikah. If so, then Mikah is worth a substantial premium, since these 18% of ELTP shares would be included if the Shareholder Rights Agreement is triggered, while otherwise only shareholders of record as of November 2013 are included in a trigger. Again, would love to hear from anyone with expertise in these matters.

• the surrender for transfer of any certificates for Common Stock or convertible Preferred Stock outstanding will also constitute the surrender for transfer of the Rights associated with the Common Stock or convertible Preferred Stock represented by such certificates.