Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Open your eyes. He had closed Mikah. He reopened it just to help Elite.

He truly does not need those peanuts - he sits on 320 million shares. At today’s price it is about $49 million.

If he doesn't need those peanuts, then we certainly do. He should arrange to transfer the ANDA's to the company for a fair price and with fair terms. Why is this such a big ask?

If he risked to put the money to buy the aderal from sungen it means he had a lot more in his bank account.

Really? Do we know this for sure? Because if he bought these with his own cash, then see above. Thanks for the assist, happy for your great success, we'll take those back from you now. I think it's entirely possible it was easier for him to arrange financing for himself than for us. Great, many thanks, you've been made whole multiple times over for your risk, so we'll go ahead and take those back from you now.

De facto if he had not put the money, we would still be at 2 cents

What the hell are you even talking about? How is this even close to true? Think of the guy as a savior if you want, but let's keep it real. And the real fact of the matter is that we have to subtract millions of dollars from our bottom line every year, instead of adding it on. This has a DIRECT EFFECT on current market cap and share price. R&D spending is necessary and important, but it has a very INDIRECT EFFECT on current market cap and share price. Dollars spent now result in POSSIBLE revenue five years from now. And really, using R&D spending as an excuse to avoid transferring the Adderalls is just hiding behind bullshit. How many years have we been conjecturing that Vyvanse and Concerta are in the pipeline? We're still waiting on those applications. We used to call them "CNS drugs", but it seems like the clock has been reset since they were recently rebranded as "Needle Movers" during the latest fan-boy phone calls. Revenue still years away, while Adderall profits are growing hugely RIGHT NOW. Real money now vs. more words and no accountability. If we had received all of Adderall profit instead of splitting it with Mikah, how much R&D could have been done? How much could be done next year? Year after? Nope, instead every year we're going to subtract millions of dollars from our revenue and hand it over to the CEO.

I get it. I understand why he doesn't want to transfer the ANDA's. We want him to sell us the goose that is laying golden eggs, and he wants to keep the goose and continue collecting the golden eggs. It's a no brainer for him. Some of us feel like we own that goose, and he scammed us out of it. Some of us feel like he did us a favor by taking care of the goose while we went through hard times. But we all agree that goose belongs with us- even he says that. He has said he wants to send it back to us on multiple occasions, but there is always a reason why now is not the time. We all agree he did a fine job taking care of the goose, who is getting super fat and sassy and laying some serious freaking big-ass golden eggs. So how long? How long do we chillax about it? How long does he get to keep collecting the eggs while we collect promises for a fatter goose in five years? When we answer that question, we must consider his fiduciary duty to consider shareholders ahead of himself.

Let's look at trimipramine as a model. He transferred the ANDA from Mikah to Elite so that Elite would receive immediate income. This was an emergency. For those of you who keep typing that he saved the company, pay attention, this is how he kept the lights on. There was no cash exchanged. He negotiated both sides of the deal. He agreed with himself on a sale price and terms of the note and the deal was done. (lol the BOD must agree! the BOD must agree! lol). Cash came in, workers got paid, API was purchased, and R&D went on. Our hero, right? We can apply the exact same model to Adderall now, right? Remember the fiduciary duty thing, right? Name your price, set your terms, agree for both sides, transfer the asset. Easy peasy now WeeZuhl can STFU. Yeah, no. Here's where the model breaks down. He jacked up the price of the trimipramine ANDA by *A LOT*. In my opinion, he paid in the range of tens of thousands of dollars and then charged us multiple millions. As I've said before, I'd be very happy to be proven wrong about this, but those numbers still remain secret at Hakim's discretion. Likewise, in my opinion, the original 13 ANDA's were acquired by him for FAR LESS than the $10 million he sold them to shareholders. Happy to be proven wrong, show us the receipts. A huge percentage of his ownership is derived from the original "merged" ANDA's, which have never yielded much revenue for shareholders, certainly not worth the substantial dilution it cost us. Shareholders have never gotten a good deal for any ANDA's we've purchased from Mikah. In my opinion, we've never even gotten a fair deal, and I don't think he's looking to give us a fair deal now, despite that fiduciary duty I keep yammering about. I don't think he wants to sell them to us at all. It would be a public deal, and we can't afford to pay the kind of markup he requires for his Mikah assets.

Who could possibly afford the 100X markup for the Adderall ANDA's? There's only one answer: who will acquire Elite? Whoever that is, are they going to let him continue to own half of Adderall? lol of course not. They will acquire Mikah on the same day at the same time they acquire Elite, in a deal that will be private and unknown to Elite shareholders. The acquirer could name their price for the total package, and it would be up to Nasrat to decide what amount gets privately siphoned off to Mikah before the public deal with Elite shareholders. Once again, he would get to set the price we pay, except this way, it would be a private deal that is never revealed to Elite shareholders.

Open your eyes. He had closed Mikah. He reopened it just to help Elite.

In biology, we would call Mikah an obligate parasite. Without the host, it can do nothing. The original 13 were virtually worthless until the merger with Elite, then they were suddenly worth $10 million. Trimipramine had minimal value until Elite bought it for millions $$$. The Adderall golden goose doesn't exist without Elite. In nature, a parasite will continue to drain the host of resources endlessly, but in civilized society, we root that shit out. We treat it with a proper disinfectant until it goes away. Maybe there was a time when Mikah was helpful to Elite- I vehemently disagree, but I will temporarily concede for practicality. That time is long since over. At this point, we don't need Mikah to do anything other than go away. If Mikah still exists and is still intertwined with Elite at the time of the acquisition, then we are all screwed, and the parasite gets to divvy up the cash.

How long do we chillax and let the parasite grow bigger and bigger?