Elite Pharmaceuticals Inc (ELTP): LMAO. Authorized shares don't chang...

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Re: WeeZuhl post# 344650

Thursday, 09/24/2020 1:53:33 PM

Thursday, September 24, 2020 1:53:33 PM

LMAO. Authorized shares don't change in a reverse split.

If Nasrat wanted to do a reverse split to get to the Nasdaq he would have NEVER held a vote to increase the authorized shares because it would be completely pointless.

Why? Because he would just do a reverse split first and then Elite would have TONS of shares available for his conversion of the Series J, completely eliminating the need for an increase in authorized shares.

Therefore, a reverse split is never going to happen. It's LITERALLY impossible.

BTW, I'm ready for it. 15:1 reverse split, leaving ~75M outstanding and ~100M authorized. Stop pretending it might not happen and get it over with already.

"Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well." - Warren Buffett

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