Elite Pharmaceuticals Inc (ELTP)

[kayak_wench]

You appear to be suggesting we would have had no problem buying Adderall and having our current pipeline. Have you no clue that we had to take out millions of dollars in loans just this year? No you don't as you admitting you aren't following the company very closely these days. FYI, taking a loan is the definition of not having extra cash!! Then you double down and suggest that the three needle movers haven't consumed a big portion of our R&D budget since 2018 is moronic. R&D costs have totaled $38 million since 2018 ($9.6 $7.6 , $5.5, $5.1, $4, $6.2 each year). The OxyContin big cost was not the BE but the insufflation study that was just recently completed. The other two products definitely didn't have BEs done in 2018.

But oh wait, you don't think our pipeline has value or anything to do with the current price increases.

The only things the company has now that it didn't back then is 3x outstanding shares and generic Adderall, which Hakim finagled half ownership. If you want to thank someone for saving the company, thank Jim Huang from SunGen, who got us into Adderall. If he hadn't done that, who knows where we would be.

You choose to ignore Elite's multi-billion dollar pipeline that is a direct results of the tens of millions of dollars invested in R&D. Whatever, but the market sure isn't ignoring that pipeline. No company would ever buy Elite just because it had a generic Adderall ANDA. And it was Nasrat who pulled the SunGen deal out of thin air after the SequestOx failure. It is unlikely that Jim Huang just happened to came knocking at that moment Elite needed it. We all eventually learned that Nasrat had a good hint that the SequestOx submission would probably fail (even if he didn't tell us) before the ANDA was submitted, you posted about this extensively when that became evident and even commented he likely only submitted to get the company its $2 million dollar cash payout for doing so. Elite has also made between at least 2 million of dollars in upgrades to equipment since 2018 that you are conveniently ignoring.

He should have done what CEO's do and gotten off his ass and told this story to people with money to invest and then bought the rights on behalf of the company. Whatever the cost, it would have been less than giving him half of our profits year after year.

SunGen was looking to sell their half fast because they needed the money and would have probably quickly found another buyer if Nasrat hadn't bought it on the spot. You think they would sit around and wait while Nasrat started to make calls (they wouldn't have). We would be much worse off if that money was going to another company. Besides Nasrat only has two things to offer to people who provide money to Elite, interest on a loan, or a pile of shares. If Nasrat had gotten a loan by giving someone a giant pile of shares shares we would also be worse off.

In fact I bought almost all my shares in that range, before I ever heard of Nasrat Hakim and back when there were less than 400 million shares outstanding.

I can't find any price below 0.04 before Nasrat joined but I am only looking at weekly views so a there could have been a few dips under 0.04. Before Nasrat was hired prices of 0.04 only occurred here and there between fall 2010 and spring 2011. So you bought most of your shares 13 years ago when the stock was insanely low and then rode it all the way up to the nearly a dollar and back down without selling most of that investment? Well, ok, but I don't think you should brag about that...