Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

He is fine accumulating shares on the cheap.

GOOD !!!!!!!! WHATS GREAT FOR US IS EVEN LARGER-GREAT FOR HIM.


We will share (one day ??) as he will...

This gets it partially correct. Nasrat is perfectly happy to sit back and accumulate his shares at this level. Why would he want the share price to increase? The lower the share price, the more shares he pockets. It is in his direct financial interest to keep the share price in single digits, whatever he needs to do to keep it there. (Hi Nostrum! How are our opioid ANDA's?) When it comes to promoting the interests of shareholders vs. promoting his own financial interests, Nasrat Hakim has a thorough history of choosing himself (Hi Mikah! How do like our Adderall? I bet you like our Adderall more than we like your trimipramine.)


I thought it was cute in the last conference call how Nasrat and Carter tried to play dumb about how many shares are currently owed to Nasrat. Maybe that's true, but I doubt it. What is definitely true is that they do not want the shareholders to know how many shares that he now owns and controls. I would say it is easily at least another 100 million shares and maybe closer to 200 million and above. For all the shenanigans we know about, consider how many we don't. And this is where the post gets it wrong. What's good for him is not necessarily good for us. 5 cents x 400 million shares is a very nice retirement for a mid-level QC guy from Actavis. But what jour trader said the other day is equally possible, probably more likely. Once he has enough shares, in conjunction with his cabal, he could move to take the company private. BOD votes to force all common shareholders to sell their shares to Nasrat for whatever price he says (please not 2 cents please not 2 cents please not 2 cents). Ultimately, the cabal controls the vote, and common shareholders like us would have no real say when our shares are taken away in exchange for a tiny payoff.


Meanwhile, watch for Nasrat to continue to upgrade his future private facility with current shareholder capital, while he continues to do absolutely nothing to make the share price increase. The Adderall ANDA's should be very, very careful. If they start bringing in too much revenue then they're going to be sold off to Nostrum**, where risky ANDA's go to make money. I mean you never know when some kid might fail a math test and sue the generic pharma that made his Adderall. Just too risky.


**Elite's half only.