Elite Pharmaceuticals Inc (ELTP): WRONG. Elite specifically stated in t...

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Elite Pharmaceuticals Inc (ELTP)

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Re: rrr2003 post# 327164

Monday, 01/27/2020 12:37:51 AM

Monday, January 27, 2020 12:37:51 AM

WRONG.

Elite specifically stated in the conference call back then that the first 5 million dollar payment was kept in a separate account to be used for and only for the SequestOx trials. They weren't allowed to use this money for anything else, which is the reason for the separate account.

And then Epic paid Elite 2.5 million to pay for the SequesOx NDA filing fee.

Epic did NOT provide any funds to Elite for R&D or trials with respect to the SequestOx (ELI-200) NDA.

"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well." - Warren Buffett

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