Elite Pharmaceuticals Inc (ELTP)

[Sankarad1]

In that case, should it be fair enough to say that Adderal or not, 2020 February and after is the time frame for a potential BO, since the Nasrat gets his shares back.

Before that if a BO were to happen owing to Adderal ER approval and a big ANDA filing, conversion will trigger automatically. Thus, Nasrat will not still enjoy the judicious price of his loaned shares. Since he is still the major share holder even without the shares, he shall not technically suffer any disadvantage regarding the voting rights.

So, summing it up, Nasrat's loaned shares need not be a stumbling block against a BO, but the BO becomes a stronger possibility with much less constraints, come February 2020, when his loaned shares get converted.

Please comment if you think otherwise.