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Tuesday, July 06, 2021 10:24:18 AM
Add an extra ~$25M to get that last 50% ownership currently, and that’s assuming Nasrat and Epic group act as a unit and that none of them have sold any shares in 10+ years.
Like I said, I don't believe their number is $25M, and that number goes down by $5M with every 1 cent drop in share price. It won't be long before that number is down to $10M. Remember, Epic's shares are all based on a <$5M investment, and those guys sold some shares during the famous pump & dump, so they've already made most if not all of their money back. Hakim's initial investment has been mostly ANDA's. He has not followed typical disclosure protocols when making non-arm's length deals with insider companies, so we don't know how much he paid for them, but it was much, much less than he charged shareholders- definitely less than $2M for all of them, including trimipramine. He has also put some cash in to a credit line but not a huge amount. So now does it start to make sense? They could end up with the whole company for just a few million dollars, keep it private for a few years while actually giving a shit about things like Adderall market penetration and SequestOx approval. In a few years the company emerges with a new name and looking squeaky clean with multiple new ANDAS, NDA approval, and good cashflow from existing products. They could make a shit-ton with an IPO or by selling to a bigger company.
If the plan was to effectively kill off the public version of Elite the whole time, then why file any ANDAs at all? Why launch more drugs? Why work on various partnerships?
The goal is not to choke it dead but rather choke it from growing while diluting out all current shareholders. Typical penny stock wash-rinse-repeat cycle. I'd have to look back for the details, but Nasrat has actually stopped, discontinued, or sold more drugs than he has started. Likewise, what partnership has ever lasted more than a year or two? Why is it that every partnership with Elite fairly quickly fails? (Or I should say every partnership except Epic.)
#FreeSequestOx
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