Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

I don't think it makes sense for Elite to buy the Sungen drugs from Mikah at this point. The main reason is that the profit split is small and it would take some time to recoup the investment. Instead the money should be invested in a brand new drug or buying ANDA's that can inrease our manufacturing income.

Right. Let's leave the profitable Adderall's with Mikah so we can buy the other garbage ANDA's, like trimipramine for $1.2M on credit and 5 ANDA's for phentermine, which accounted for 5 of the 13 original ANDAs we bought for $10M, also on credit. It's funny to see the concern about recouping the investment. As I said before, I guarantee we pay more in interest to Nasrat every month for the trimipramine deal than we get from trimipramine in revenue. I would be happy to be proven wrong by Nasrat or Carter, but I won't be.

My posts have not advocated for the CEO's resignation but rather to put a stop to these bullshit non-arm's length deals with the CEO's private company. I also have pointed out the multiple, obvious conflicts of interest that give an APPEARANCE OF IMPROPRIETY to the CEO's ownership of a secretive private company. Again, I would be interested to hear of other examples where the CEO of a publicly-traded company does business with their own private company, but so far nobody has identified even one other example of this. If this is on the level, why doesn't every CEO do it?