Elite Pharmaceuticals Inc (ELTP)

[jgsnys]

Once upon a time there was a CEO who was hired to grow a small pharmaceutical company. The CEO had been credited with a number of accomplishments, and it seemed quite possible that he could indeed make the small company a success. Having assumed the helm of the company, the CEO rested. . . on his um laurels. He farmed out tasks that would require real exertion from himself and everyone else at the company. What innovation he did bring to the company was severely misguided, resulting in a major-setback. Years passed. A mix of complacent nonchalance and ineptitude resulted in prior valuations for the company - from $0.40 to $2.75- which once seemed perhaps attainable, having to be regarded as fairy-dust.