Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Sorry, it's not that simple...

Yes, it really is that simple. In regards to shares for salary, when the share price drops, Nasrat gets paid more. No further explanation necessary. A 5000 word essay does not clarify one factual sentence.


The post has too many false claims to mention. Just for starters, it's his salary that is paid in shares, not bonus. He doesn't "elect" that option, it is company policy for all executives. And his starting salary was not $500K, he got a raise. The correct info was posted just a few days ago, with a link to the SEC filing.


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160329185

Pursuant to his August 2013 employment agreement, and as amended on January 12, 2016 (the “Hakim Employment Agreement”), Mr. Hakim receives an annual salary of $500,000 per year. The Salary is paid in shares of the Company’s Common Stock pursuant to the Company’s current procedures for paying Company executives in Stock. He also is entitled to an annual bonus equal to up to 100% of his annual salary, payable in accordance with the Company’s payroll practices.

Nobody thinks this.

Mikah is not some monster hiding under the bed waiting for the right time to emerge and takeover Elite. If that was Nasrat’s intention, the plan is long past a due date.

The concerns about Mikah have been clearly documented, including obvious conflicts of interest for the CEO, who has a fiduciary duty to Elite shareholders. Multiple posts have described how Mikah is used for non-arm's length lucrative self-dealing by the CEO, and how the CEO can use Mikah's privacy shield to hide information from Elite shareholders. It is well-established that Mikah recently outbid Elite, in direct competition for a vital asset, while interceding in a strategic partnership. The unparalleled Mikah shenanigans will complicate any potential merger or acquisition and could cause a significant detriment for Elite shareholders.