Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Reading between the lines, that roughly translates into a share price of about 20 cents before Nasrat would pull the trigger. Why? Because the p/s has to be at a minimum of $3.00 upon the reverse. However, generally, institutions want the new price at $5.00 before jumping in. Then there is the concern that the short's and MMs would attack the price and try to bring it down and, burdened by so much "scar tissue", the retail investor would panic and sell, creating a fear enforced drop...and we are back to the OTC game. For Nasrat, there is no way he will chance such a misstep.

Just for grins, I ran a very conservative DCF analysis based on what we know from today's numbers and, of course, projections for growth. Without getting into the weeds, I have Elite's share price at 28-34 cents...NOW! As in - TODAY!

One more thing...

I will save the logic for when I have more time, but I am changing two of my previous positions based on my interpretation of today's call.

1. I no longer think 2023 is a buyout year. Nasrat just signaled a longer game - How much longer?" No idea.
2. My interpretation of the longer game also changes my position about the Nasdaq. I think it is now in play.

And I like Chen's background!