Saturday, November 19, 2016 8:56:38 PM
N2K,
Nasrat has one way of selling shares- a buyout. If he ever sold a share prior to a buyout then it would surely trigger a huge sell-off. The fact that he never sold a share just means he understands this and nothing more. My point was that the generics were not worth anywhere close to $10 million at any time, and certainly not worth a full 1/3 of the company. Let's say he can find a buyer for $1 billion ($1/share), then he will receive $140 million for these lame generics. At $2/share he will receive $280 million for these generics. This is money that would otherwise go to shareholders at the buyout. I hope he gets $2, but it's pretty hard to justify this kind of exorbitant payout at the expense of the shareholders. He did not have to require $10 million payment for $3 million in ANDA's, and he did not have to convert the debt to shares at the time he did. One way he could make this right is for Mikah to give back 100 million shares to the ELTP treasury.
I frequently see references to the Fortune 40 on this board. I wonder if there is an over-reliance on this experience to justify theories about this OTC stock. I am not sure there is a good correlation. "I cannot more fully explain it if one does not possess that contextual understanding" is a fancy way of saying there is no empirical evidence to support the argument.
Historic note: Until his life's destiny was further clarified, Robin Hood spent several years robbing from the rich and giving to the porcupines. (G. Larson 7/26/82)
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