Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

Excellent decision on the role of MMs in swindling investors on bulletin board securities. NWBO has a major case in federal court against Citadel and other broker dealers on this issue.

This is the prime reason it will be best when elite is able to get off the OTC and onto nasdaq where there is less manipulation. My guess is that NH will press for a reverse split when the stock is around .35 cents to qualify for the price required to list.

The response here will probably cite how reverse splits are usually bad for pre split shareholders. While that is often true, especially when a listed stock is delinquent and falls below the $1 to remain on Nasdaq, stocks that reverse split to qualify for Nasdaq are a different story.

The thing that distinguishes Elite from almost all other OTC crap is that it has a real PR ratio. Most otc stocks are losing money and often have to issue more shares to have the revenue to continue to survive. Many here will remember when elite had to resort to that type of predatory financing with Capital.

A dime price will look look a steal in the near future as smart new investors who do their actual due diligence conclude that this is a great company to own long term.