Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Follow the shares.

BUT, what about shorting a stock as a business tactic????
Maybe there is a competitor trying to suppress ELTP stock to slow its grow and availability of funding or even to try to drive out of business.

All that is needed for a sustained negative influence is a steady supply of shares. They could be short shares from time to time, but that is unlikely over the long term. There are a multitude of strategies that could be employed, especially if you have a few shares to work with. Our friends at Epic are the only ones who I know of who hold substantial shares, but those guys are totally cool pharma bros with Nasrat. No way would they try to screw us. Sitting on a dozen generics and the milestone payments that would have gone with them is only an unfortunate coincidence, I'm sure.



https://www.irpass.com/profiles/investor/SecB2iView.asp?b=2258&ID=35576&c=0001053369

SCHED 13D -- December 31, 2015


Aggregate Amount Beneficially Owned By Each Reporting Person

Ashok G. Nigalaye---40,494,165

Jeenarine Narine----24,665,536

Ram Potti-----------11,594,073

I believe this was their last filing as a group. By this time in Dec 2015, Epic Investments was dissolved, and all ELTP shares and warrants from the Strategic Alliance had been distributed out to Epic's individual members (including Nasrat). By this time, Ashok Nigalaye was the only one still above 5% ELTP ownership, and Jeenarine Narine was the only one still on the Elite board. As the outstanding share count went up, Ashok fell under the 5% reporting threshold, and we haven't heard from him or his 40 miliion shares since this Dec 2015 Sched 13D. Same with Ram Potti and his 11 million. Gone like the wind. We got a few more filings from Jeenarine until he resigned from the board a few months later in April 2016, including Jan 2016 when he converted 6 million warrants at .0625 and gifted all 6M shares to someone. When he resigned, they said it was because Humanwell acquired Epic, but I never understood why that would require him to resign from Elite. (Unless he has ongoing involvement in Humanwell, and then it makes perfect sense.)



An interesting confluence of events in ELTP history. SequestOx NDA was filed by Nasrat in January and accepted by FDA with Priority Review in March (PR 3/17/16). I'm not sure which but one of those two events triggered the next $2.5 million milestone payment from Epic to Elite, for total $7.5 million. Humanwell acquisition of Epic was announced two weeks later on 3/31/16. Jeenarine resignation from the Elite's board was announced two weeks later on 4/12/16. Exactly one week later on 4/19/16, a prescient claim was made on this board for the first time. On that day, stock price was .33, SequestOx PDUFA date was still three months away, and nobody ever heard of a tmax delay. Again, just one of those funny coincidences, I guess.





https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=81371&GoTopage=2&Category=2163&BzID=2258&t=2054&G=939

Elite Pharmaceuticals Announces Changes To Their Board Of Directors
NORTHVALE, N.J., April 12, 2016

Mr. Narine tendered his resignation as part of the acquisition of Epic Pharma LLC by Humanwell Healthcare USA, LLC. Mr. Narine is one of the founding members of Epic Pharma.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=122037099

Tuesday, 04/19/16 07:43:45 PM

ELTP a total POS headed much lower.