Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

facts do matter and you being off by 50
Percent is a pretty big miss. I thank N2K for his diligence

LOL please refer to which DRAFT numbers you are referring to, $39M or $62M?



This is not hard. Here's another way to slice the pie. Follow the shares. As previously proven, the outstanding shares as of 6/30/13 was 390M. The outstanding shares as of June 24, 2020 was 840,404,367. Add in the 237,000,000 shares for Nasrat's Series J Preferred and conversion shares, and you are left with 687M shares. This doesn't include any of the tens of millions shares that are owed to Nasrat for salary, bonus, interest, trimipramine, etc.


What value would you like to assign each of these 687M shares? On the low end, the cut off for LPC II was 10 cents. If you assume each of those shares has a value of 10 cents, then those shares represent a minimum burn of $68.7M. But then consider that many of those shares were sold when the share price was much higher, including 30+ cents per share. Add in 7.5M from Epic. Add in the few millions in income for our other drugs. It's very easy to see how Nasrat has blown through $100M during his tenure, and he has only managed to commercialize a half a handful of drugs. Extraordinary failure.


Facts do matter, and my rough estimate numbers once again prove more accurate than any of the attempts to correct them.