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Re: JamesF1 post# 397174

Tuesday, 02/27/2024 8:36:14 AM

Tuesday, February 27, 2024 8:36:14 AM

Post# of 400769

I don’t agree with you, but I do admit you present your point of view well. In summary your position is: Since Elite is doing well it pays for the tort shops to wait. The longer they wait, the bigger the pile of money to go after.

Sort of. It's not how much money Elite makes- it's about how much money Mikah makes. As the Mikah pig gets fatter and fatter from Adderall profits, the tort shops are sharpening their knives. Adderall ownership is a wildcard. If the ANDA's ever went to a third party, the cash involved would trigger multiple class actions but the tort claims would go beyond just Adderall to include ALL Mikah profit that has any relationship with Elite. Every bit of it is illegal, no matter how you feel about it. As we have all recently witnessed, a business can lie on official forms for years and nobody does anything about it, until they do. And you can wrap illegal acts in hyperbolic rhetoric ("He saved us!") that will satisfy many shareholders, but that shit doesn't fly in court. Some shareholders seem to have a short memory. They post here that Hakim resurrected Mikah from the dead in order to swoop in and save us by taking Adderall for himself. That is simply untrue. Mikah never ceased operating, even after we were told it "merged" with us and were told in SEC filings that it ceased operations four years in a row. It was active the whole time. While Hakim was CEO of Elite in 2016, Mikah purchased trimipramine ANDA from TEVA divestiture. In 2017, Mikah made supply & distribution agreements with Epic & Dr. Reddy- all of it while telling Elite shareholders that Mikah was dead. Two weeks after signing the distribution agreement with Dr. Reddy, Mikah sold it to Elite for $1.2M plus interest, which IMO, is at least 50X markup, maybe 100X. He could show us the receipts and prove me wrong, but he won't. He could have used a neutral 3rd party to ensure a fair deal for both sides, but of course, he didn't. It doesn't matter how much you love Nasrat and how much you believe his nonsense, these things matter. He is way out of his lane as CEO of Elite, and in the past, multiple times, when Hakim gets out of his lane, Elite shareholders take the hit.


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