Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Finally, the focus on the total shares held by Nasrat seems to be missing the reality that his loans and his use of shares helped Elite limp along until they began generating revenues.

Oh thank you so much, Nasrat. The way your business partners at Epic sat on all those generics for all those years was so unfair to you. The way the FDA refused to ignore their long-standing rules on bioequivalence and approve SequestOx was so unfair to you. After you spent millions and millions of dollars from 2014-2018 developing opioids, the opioid lawsuits that started in 2004 were very unfair to you. We are so thankful that you diluted our shares in 2017 to develop the methadone ANDA instead of contract manufacturing it, as we had been doing for years. Even though methadone is used to treat opioid addiction, it is also used to treat chronic pain, and so we are glad you sold it off, because your leadership has proven to us that patients with pain are second-class and do not deserve to be treated with safe, effective prescription medications.


It was very unfair the way the auditor reinstated the "going concern," just because there was no revenue and no access to capital. I shudder to think of your selflessness, Nasrat, after all this unfairness had befallen you, and the way you helped Elite "limp along" with a few high-interest loans. We are thankful for the shares you loaned the company so it could continue to run on dilution, instead of commercializing the evil opioids and being titillated by their dirty recurring revenues. And most of all, we are thankful for the blockbuster, trimipramine. Who needs opioids, when we have trimipramine? It is like manna from heaven, and Nasrat is our savior.

What Nostrum got from Elite for $1.2 million:

1. Norco
2. Percocet
3. Dilaudid
4. Methadone


What Elite got from Mikah for $1.2 million:

1. Trimipramine