Elite Pharmaceuticals Inc (ELTP)

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Its actually impossible for most shareholders to calculate Elites fully diluted because its an unknown what the conversion price of the CEOs Series J Preferred will be

Initially prices at $0.1521, it has anti-dilution protection allowing for the conversion price to be adjusted DOWN

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).

Elite has granted or sold shares below the initial exercise price of $0.1521 and the Series J may now or could be convertible into shares at a much lower price. It could amount to several hundred million shares instead of 158m