Somehow someone should impress upon Nasrat Hakim that something is very wrong at Elite Pharmaceuticals, and that that something has been very wrong for a considerable time now. Early on in Nasrat's tenure, shareholders were presented with "valuations" -the accuracy of which was emphasized on conference-calls by management; Valuations which would make long-term shareholders realistically somewhat disappointed were the current price in the neighborhood of $0.80 . . . That's correct. I am stating that given what Nasrat and team said some years ago, were today's share price to be $0.80, it would be fair for shareholders to grumble about "the charted course", "energy and initiative", and such.
Presently, calling for Nasrat's removal and a shake-up at the top of Elite is no bold action wrought with controversy. Nasrat is a crooked, no-class, ass who will treat shareholders like hostages for as long as he can.. . . I wish I could've said, "My investment in Elite ended badly." some years ago. But, like many, I find myself with a good many shares I have to consider as evidence of my own poor decision-making.
Well. . . This is "pennyland" where many more fortunes are lost than made. Still, "Stranger things have happened." -Perhaps, rather than, "Nothing can stop us!", at the next conference-call, when considering the prospect of Elite planning and executing so as to bring shareholder value, Nasrat could do something totally foreign to him and with a truthful utterance state, "Stranger things have happened!" . . . Ha! A reason for optimism vis-a-vis ELTP!
PS Other CEO's have done it. . . Stated to shareholders (approximately) "Frankly I am embarrassed, ashamed, and disgusted with our performance and regrettably I can only apologize to all shareholders, supporters and detractors alike. . . . "
Hey Naz- Resigning would probably be a lot easier than fixing all that has gone wrong under your leadership here at Elite. . . at least for you. Why don't you step aside and let persons who could turn a decent profit at a small pharmaceutical company in New Jersey have a go?
