Wednesday, October 12, 2016 3:21:40 PM
1. Elite is in sensitive negotiations with the FDA on a plan for resolving the Tmax issue and in such a manner as to enable Elite to be granted a Type 1 meeting. Which is no small issue because it truncates the review and approval process. To that end, I have found no evidence of a company that had been in negotiations with the FDA on a CRL review having come out with a PR to mention it.
2. Elite has received an informal offer predicated upon approval of SequestOx. Informal offers are the norm because they are not subject to a material event PR and, thus, enable a potential acquirer to quietly pursue a target firm without triggering a bidding contest.
What my business experience suggests is that it is not Elite's silence that is costing shareholders money, it is the shareholders either selling because they are clueless and have not done effective DD or they are clueless in thinking that stop loss orders are effective on the OTC. Clueless either way. Or, perhaps I missed the memo from Elite telling shareholders to sell because it will be some time before they expect to address the CRL. Nah, that's not it...
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