Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

What I learned today: ELTP isn't Penny Stock.




Interesting article, thanks for posting.



https://www.cnbc.com/2018/09/28/bank-of-america-cracks-down-on-penny-stocks-with-purchase-ban.html

After initially banning the sale of most penny stocks, the firm put the policy under review, allowing most of them to be sold for at least the time being, according to one of the sources. Only the riskiest penny stocks that already may be the target of fraudulent schemes — labeled with a skull-and-crossbones icon by the trading firm OTC Markets Group — can no longer be sold. Eventually, all penny stocks could fall under the restriction, the person said.

https://www.otcmarkets.com/stock/ELTP/overview







https://www.otcmarkets.com/glossary#penny-stock-exempt

This security is exempt from the definition of a Penny Stock under SEC under Rule 240.3a51-1 because it meets one of the following tests: 1) A price of over $5 per share, 2) the issuer has Average Revenue of at least $6 million for the last 3 years, or 3) the issuer has Net Tangible Assets in excess of $2 million if the issuer has been in continuous operations for at least 3 years or $5 million if less than 3 years.