Elite Pharmaceuticals Inc (ELTP)

[dr_lowenstein]

it is probably true that nasrat never said explicitly to buy at .40, however, the record is clear that he and the rest of the management team were suggesting that this valuation was valid. We had then and have now doubts about that validation given that it was performed by some mysterious never disclosed "valuation" firm, and the methodology and basic assumptions were never disclosed. Given the pps record since that we now believe that analysis was flawed at best.