Elite Pharmaceuticals Inc (ELTP)

[namtae]

Who needs silly little disclosures in SEC filings like this

Based on the current conversion price, the Series J Preferred is convertible into 158,017,321 shares of common stock. The conversion price is subject to the following adjustments: (i) stock dividends and splits, (ii) sale or grant of shares below the conversion price, (iii) pro rata distributions; or (iv) fundamental changes (merger, consolidation, or sale of all or substantially all assets).

when the CFO allegedly claims the conversion price cannot be adjusted??

ROFL