Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Exactly what would you have had him do differently? put differently, given the identical circumstances with FDA,
if you had been head of the company all this time, what would your strategy have been? What would you have done differently?

What FDA circumstances are we referring to? What did the FDA do wrong? It was Nasrat who wasted millions of dollars and multiple years on Zombie SequestOx, despite knowing from the start it was not bioequivalent. (And despite what he told investors in a PR). FDA had nothing to do with the time & money wasted on the applesauce escapades. FDA did not screw up the reformulated bead, after another year and a few million dollars more. Nasrat did have a great idea of calling on an expert formulator to get the third attempt correct. Too bad he didn't have that idea 5 years and 500 million shares sooner. That bead now sits collecting dust, except for the lawyers fees going toward Nasrat's vanity patent application.

It was bad policy from the FDA that caused the demise of the 2-bead ADF versions of Norco and Percocet, but I gave Nasrat great credit for recovering those expenses by filing ANDA's for generic Norco and Percocet. We spent substantial sums getting those drugs approved, along with our own ANDA for methadone, and before we could recover any of our investment, they got sold off for pennies on the dollar, along with our generic Dilaudid. These bread & butter ANDA's would be adding very nice revenue right now. Not one responsible manufacturer of generic opioids has been sued by anyone. What bullshit.

Nasrat may yet lead this company to the promised land, but please spare me the infallible savior complex. Jeebus, Nasrat somehow even manages to turn our successes into failures. I bought shares last year for 6.5 cents, same price I paid 6 years ago, except back then there were only 340 million outstanding shares and now there are 840 million. Looks like I'll have the same opportunity this week. So "FDA circumstances" had nothing to do with Nasrat wasting 500 million shares from the treasury with ZERO shareholder value to show for it.