Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Naz Has too much of his own money here at risk to not have all contingencies covered. Will know soon but he’s got too much To lose or gain for him not to be prepared as he is a very intelligent person. Just feel this is knee-jerk and will more than work itself out in the days to come!

I will wait to see or hear that All Is Well before I will pronounce it for myself. Very clearly Nasrat was NOT prepared for this auditor's downgrade, and he said as much in the FEC filing. The auditor currently knows more about this company than I do, and he just downgraded the company. What's in the annual report that I don't already know? Is there a technical problem with our facility? Is there a regulatory problem with FDA or DEA? Is there a tax or bond problem? Are we being sued? There are a million possible reasons why the auditor is adding the going concern language. If this is just about our traditional cashflow mismatch, I am not concerned about it. I'll buy some of these cheap shares with my usual confidence in the current business strategy. I would believe Nasrat if he said there is no new negative information that has yet to come out, but he cancelled his easy opportunity to tell me so. There are plenty of words that come to mind this weekend to describe Nasrat, but prepared is NOT one of them. The longer he waits to put himself in front of shareholders with an explanation, the longer this perception will persist. Smart investors should take a pass on buying new shares until he does.