Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Knew you couldn't stay away lol

Great post. I appreciate how it precisely proves my point that the company is being highly-opaque about the CEO's actual ownership. As my post indicated, with links provided, I gave the last known numbers per SEC filings. If Mikah failed to file the proper papers with SEC after disposing of 140,000,000 shares, then that needs to be explained by Mikah not me.

So, it is not 522 million outstanding shares that are owned by the three Epic holders + Nasrat + Mikah. It is 379.1 M owned by the Epic triumvirate and Nasrat...Decidedly, not a majority!

LOL I feel so much better now! As I previously pointed out, 3 private individuals could hold up to 298,500,000 shares without any reporting requirement. I will also point out that the company currently owes Mikah $1.2M + 10% annual interest for trimipramine, and Mikah holds half ownership of Adderall IR & ER. If/when Hakim decides he wants shares for those properties, then that number would dwarf the previous 140M. Even if he doesn't, with the current trend in share price, Hakim's salary alone will tally up another 100M shares within a few years, just exactly as I have been saying.

The elemental fact remains: the only person who benefits from the continuous degradation of the share price is the CEO, Nasrat Hakim. The only person who has choked-off revenue from the company is the CEO, Nasrat Hakim. Most investors understand the connection.