Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Were there 350 million shares authorized at the time of Nasrat being named CEO? Actually…NO!!! As per the Q for period ending December 31, 2012, Elite’s authorized shares were 690 million.
https://s3.amazonaws.com/sec.irpass.cc/2258/0001144204-13-009129.pdf

I didn't say authorized, I said outstanding. For the quarter ending 6/30/13, there were 395,787,000 shares outstanding. So I will correct my statement. When Nasrat took over in 2013, the share price was 7 cents and there were 396M shares outstanding. Now there are over a billion shares outstanding, and the share price is 6 cents.

https://sec.report/Document/0001144204-13-045859/

In aggregate, the prorated market share for an owner of the drugs at peak would be more than $50M, it would be = $84.310 M.

I agree that in time our generic opioids would have generated well over $50M every year. I think $84M would have been very achievable. Recurring. Yearly.

To even the untrained business eye, the math suggests that Elite’s pivot was financially correct, as it will have turned the pivot into profit.

This is the part I don't get. I don't think pivot is the correct term. A pivot suggests a minor change in direction. A pivot would be adding CNS stimulants to the pipeline while continuing to pursue the current development projects. A pivot would mean developing CNS stimulants with revenue from opioid sales instead of dumping the opioids and using sketchy Chinese government money. A pivot does not require us to abandon everything we have done up to that point. What Elite did from 2013-2020 was more like ping pong than a pivot. Back and forth and back and forth and ultimately going nowhere.

Complaints are about the past. Strategy is about the future. Time to look in that direction and pose questions based on a forward thinking view.

What's past is prologue. We would be fools not to learn from what we have seen with our own eyes. The previous deals for 13 ANDA’s and trimipramine allow us to formulate an expectation about the future deal for the Adderall ANDA's. We never had a chance to render an opinion on the 13 ANDA’s, trimipramine, or the opioid ANDA’s, but we do have an opportunity to have a say in the upcoming Adderall deals. By God, I’m going to have my say. I’m going to say it on this board, and I’m going to say it to the Elite board. I’m going to say it to the SEC. I recognize that when I’m done, chances are good nothing will have changed. I might not have all the answers, but I’m no chump. Shame on us if we choose to bury our heads in the sand instead of opening our eyes to what is unfolding right in front of us. The odds are against the common shareholders, but we are not powerless. We can affect the future of the company, if we choose to.