That is a comment from 2014. Super old news and has since been replaced at least 5 or 6 times with the following comments. Organic growth is plan A, but if not working, reverse split is plan B. With CEO's commentary on wondering why stock hasn't moved on SunGen or Oxycodone generic news, I think he is leaning more and more each day towards plan B to get off OTC.
Q1 2016 Transcript
Nasrat Hakim,“And uplisting to NASDAQ is on my mind and I’m planning for that for 2016. There is a lot to plan and to execute before we get to that point. I do not intend to do that unless we have the fundamentals and those fundamentals are followed and the timing is correct. A reverse split may be required, but as I said we are not ready to make that decision yet.”
Carter Ward, “As far as what you mentioned regarding the stock price, I’m with you there, I hate the reversal split and I do believe in the fundamental before you get on NASDAQ but anywhere else. But if we do not do it in a timely manner, I don’t want to hang around the bulletin boards for the next three, four years. We will do something to get us there.”
Q3 2016 Call
On RS, “And finally, forward update. NASDAQ keeps coming up and I have the same answer, the ultimate point for me is to get Elite to the NASDAQ. We’re not going to rush in to anything but we’re not going to sit around and take forever. I would like to get to NASDAQ by organic growth and if it does not happen, we will do it with a reverse split. My preference is the fundamentals, and we will not do it unless we have fundamentals. And that’s really the guiding principles right now. So our other generics and SequestOx hopefully will provide the fundamentals for us to make a smooth transition to NASDAQ. As I said before I do not prefer having a reverse split but if we have to, that will do. We are at least a year away from that decision and we will discuss it in future conference calls.”
Q4 2016 Call
“I am hoping for an organic growth and that will probably take three years, and don’t have to do a massive reverse split, but realistically on the rate we are going, my gut feeling and this is just an opinion, I would say two, three years.”
Q1 2017 Call
NH, “Our ultimate goal is to have a strong enough fundamental to go to NASDAQ with as much organic growth as possible.”
NH, “I was hoping to marry this with SequestOx once we get approval for SequestOx and launch or file all of those generics, that will take us to the next level where we will be ready for NASDAQ, a little delay that is not going to hurt us. The plan is simply to go to NASDAQ with as much organic growth in minimal stock split. This remains our plan.”
Q2 2017 Call
NH, I would love to get us to NASDAQ organically. If I can, I have no issue with supplementing that with another method such as stock split, but really the preferred method always is for us to try and get there organically.
I know where our stock price is, and I know where it should be.
