Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

2 of the 3 mentions have called repeatedly for Nasrat to either resign or be put under investigation so I'm gonna say that's a no go for Nasrat to put them on the board.

I can't speak for the other two, but I feel like my messaging has been clear and consistent. I don't recall ever advocating for resignation or investigation, but I definitely encourage you to read my entire post history and quote me if I'm wrong. And upon requests such as this, I'm always happy to reiterate what I actually have repeatedly called for, which is for Nasrat Hakim to stop doing non-arm's length self-deals and to start being more transparent about how many shares he owns. If either of those requests seems unreasonable, I'd like to hear why.

I've said that shareholders would be better off had we never heard of Nasrat Hakim, and I still believe that to be true. He diluted a lot of shares and wasted a lot of time spinning our wheels and getting us nowhere, and the end result is that he personally co-owns our most lucrative assets, along with nearly half the company. He has a fiduciary responsibility to Elite shareholders, and he has no business messing around with a private pharma company that he repeatedly said was either "merged" with Elite or "winding down operations." I still believe he vastly overcharged us for the original 13 generics and again for trimipramine. I would be shocked if he doesn't over-charge us again for the Adderall's. It doesn't have to be like that. He could just as easily do these deals through a neutral third party to establish a fair market price and make it more arm's length. He simply chooses not to do the right the thing because he wants to have 100% control and wants it to be 100% secret.

Over and over we have the seen the secretiveness of the company be more for the personal benefit of the CEO than for any other reason, including his total share count (Hakim + Mikah). Why is this such an impossible number to track down? It's a simple question that should be in every report, how many shares does the CEO own? Who benefits from keeping it a secret? Anxious to hear your thoughts on these questions, DR Ryan, and thanks for the opportunity to reiterate my opinions.


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