Elite Pharmaceuticals Inc (ELTP): This is definitely house cleaning for so...

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Elite Pharmaceuticals Inc (ELTP)

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Re: Pharma Sleuth post# 398470

Friday, 03/29/2024 11:50:22 AM

Friday, March 29, 2024 11:50:22 AM

This is definitely house cleaning for some sort of buy out or M/A. Seen this before. Early stages.
All these shares were already known to anyone reading the quarterly filing. It is absolutely not new dilution.
I don't love that they chose to file this after hours going into a long weekend though. Reminds me of Sequestox CRL being filed after hours Friday. Makes it seem like they expect a bad market reaction from this.

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