Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

As has been pointed out…

From 2014-2018 we saw the same thing announced on the 10K…"Mikah has accordingly ceased operating and is in the process of winding down and liquidating its assets."

But nothing since the 2018 date; something that seems to be lost in the discussion. Then in 2021, with Elite having insufficient capital to purchase the SunGen Adderall portfolio because they could not access funds through the LPC agreement (the share price was under the ten cent limit,) Mikah bought the Adderall IR/XR portfolio and it was a good thing. Now, whose money might that be that made the purchase possible? Right! Then two months later we have this agreement...

Master Development and License Agreement for Products Between Elite Pharmaceuticals, Inc. and Mikah Pharma LLC, effective as of June 10, 2021.(Portions of this Agreement have been redacted in compliance with Regulation S-K Item 601(b)(10))

Thankfully, all of this was possible because Mikah never completely wound down. OBTW: On the above agreement, Elite and Mikah agree on cost sharing and profit sharing. Which means Mikah (Nasrat) is picking up half the costs, thereby reducing Elite's operating costs.

What should be clear is that the Mikah financial backing has long benefited Elite as a business and helped make possible where it is today as a profitable business and, to be clear, being profitable is the purpose of any business.