Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Does anyone think the goal here is to drop to a penny and buy it out for 6 million dollars ?

I've written extensively about the concern that the CEO Hakim could be acquiring shares with the intention of majority ownership and the ability to privatize the company without the approval of any other shareholder. Along with his associates from Epic Investments, this group could be very close to acquiring a majority of available shares, if not already in control. There is no doubt in my mind that if Hakim ever does pull the rug out from under the shareholders and takes the company private, then his lawyers will point to the dozen daily messages on this forum calling for him to sell the company. "Your Honor and members of the jury, my client had no intention of privatizing the company, but there were 56,454 postings on the internet in 2022 alone demanding that he sell the company immediately." (Of course, the lawyer will never mention that every message came from the same account.)

I really don't get it. How is this supposed to work? Do we imagine that Hakim would arrange a deal to sell only his shares and the rest of us would keep our shares in tact? Obviously, that's not how it would go. All of our shares would be sold. Repeatedly demanding that he sell the company is in fact demanding that he privatize the company and screw the rest of us. It is the worst possible outcome, and all of these posts give him justification and encouragement. If an investor wants to sell all their shares right now, fine, I get it. Take the 3+ cents and peace of mind. But why would an investor repeatedly demand that everyone else must also sell their shares right now? What does that accomplish?

When I ask myself who benefits from these posts, the answer is clear...