Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

Wouldn't be surprised if Nasrat takes over as CFO permanently and gives himself a huge pay raise.

He has a history of doing this.

When Nasrat first became CEO he was the following:

1. President
2. CEO

He was given a 350,000 salary and 350,000 bonus (Total = $700,000)

Then he KICKED out Jerry Treppel and STOLE his Chairman of the Board of Directors title. Because of this, Nasrat gave himself a $300,000 pay raise.

Now his pay was 500,000 salary and 500,000 bonus (Total = $1,000,000)

So Nasrat now had the following titles:

1. President
2. CEO
3. Chairman of the Board of Directors.

NOW he's going to purposely NOT hire a CFO and will have the following:

1. President
2. CEO
3. Chairman of the Board of Directors
4. CFO

Only ONE question remains, how much of a raise will he give himself this time?



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