Elite Pharmaceuticals Inc (ELTP)

[RizZo]

Forward looking knowing the business.

CEO,

Nasrat Hakim

Okay. Thank you, Carter. Next question is on increased and authorized, was the increase in shares issued related to CEO holding and how can you guarantee investors that further dilution will not happen?

A part of it was due to the Series J. But the other parts were for us to have the ability to have to conclude business opportunities similar to the one I just explained to with SunGen. If these shares were available and they were presented and we could actually catch them out we would have had a very good deal with a company, which had a lot of product in that pipeline including some that are first to file and [paragraph] for filings. You always need the ability to maneuver otherwise we continue producing very little and taking that very little first getting to the point of breaking even and then maybe a little bit profitable and that little im-profitability will take us forever to get one product through the market. And maybe one of these days we should have a Board with the stockholders if that's the rate that we need to go on that's the rate we have to go on. But for us, to go after new products and get the companies next level and increase revenues and all the things that people ask me to do, and do it with nothing that's asking a little too much. So, yes, there is a potential that we may be using some of these shares but anything we use is for Elite benefit and for the stockholders benefit, okay. Nothing extravagant. It's all R&D related that we hope the return on the investment will be several folds once the R&D succeeds.

https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript?page=6