Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Some shareholders apparently feel it would be best for the company if there was an SEC investigation, a class action law suit, and a resignation by the CEO and largest shareholder. Really? Be careful what you wish for.

I can understand the disappointment with the decision to divest the opioid ANDAs and the Sequestox platform; however, moving forward, the company appears on track for increased revenues and new non opioid related filings.

Please don't confuse my message with others. I will continue to call attention to the repeated failures in development such as SequestOx and generic opioids, but I have not called for a law suit or resignation. I have called for the Elite board to perform their fiduciary duty to shareholders and hold the CEO accountable for his highly irregular private business activities. If they can't or won't do that, then an SEC investigation would be necessary and appropriate.



Previously posted, multiple times:

Here are my goals:

1. Ongoing oversight with an independent auditor for both Elite & Mikah who will guarantee that material events for Mikah are reported to Elite shareholders.

2. Establish the details of the Adderall Purchase Agreement between Mikah and SunGen, including and especially any partners or financing involved.

3. Establish a protocol for the transfer of the Adderall ANDA's from Mikah to Elite and immediately begin the protocol.

Elite shareholders who oppose any one of these goals should familiarize themselves with the Stockholm Syndrome. It is time to expect better from Elite management.