Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

The main obstacle to listing on Nasdaq is the stock price. While $1 is the minimum for a stock that is listed on Nasdaq to remain listed, new issues require a price of $5 or a minimum of $4 for small cap listing.

If Elite reaches a OTCBB price of .40, the company can do a 1 for 20 reverse split to attain after split price of $8 so to can qualify for listing and allow for possible price deterioration before approval which can take a month. This may or may not trigger some selling but long timers should do OK. Of great importance is that the stock giving holders leverage as well as the ability to buy stock in other companies or pull down some cash.

Market cap at 40 cents is around $400 which is not unrealistic is this market.