Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

The second quarter ending September 30, 2023, will reflect the Direct Sales since manufacturing and licensing fees will be transitioned for most of the products including the Adderalls. Page 6 of 10Q

The quarter ending September 30, 2022 had a total of $8.585M for manufacturing and licensing fees. It appears that the company will show a number that will be in the 8 figure range.

The company carries very little debt and the $4million loan from Caskey(1M) and Hakim (3M) at 9 % will be paid off by the end of June 2024 per the filing.

The stock market price of a stock should reflect the future growth of a company. The theory that the price cannot make a significant move without a Nasdaq listing will be tested. Both you and IB should try to keep an open mind. Nasrat is now on record that he will not try to take us private.

Nasrat has been fully prepared for the last two conference calls and appeared genuinely interested in getting the stock price to reflect the true value of the corporation based upon normal stochastics. He left open the door for buyback in the future and has recognized that the stock payment in lieu of salary looked bad and was dilutive.

I'm looking for a breakout once the 5 cent resistance level is breached.