Tuesday, August 18, 2020 10:04:01 AM
https://ih.advfn.com/stock-market/USOTC/elite-pharmaceuticals-qb-ELTP/stock-news/83077754/quarterly-report-10-q
Elite shareholders are paying Nasrat $10,000 per month just in interest for the trimipramine deal. He is owed nearly $400k already, just in interest on the promissory note. I highly doubt trimipramine has had $10,000 in sales in any month that we have paid (owed) Nasrat $10,000 in interest. Likewise, I guarantee that Elite shareholders owe Nasrat more in interest than Mikah paid in cash for the ANDA. A lot more. Of course, if I am wrong, Nasrat could easily prove it, but he hid the details behind the Mikah shield. The secrecy serves only him. It is time to expect better from Elite management. A lot better.
Occam's razor: the simplest solution is most likely the right one.
Hanlon's razor: never attribute to malice that which is adequately explained by stupidity.
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