Elite Pharmaceuticals Inc (ELTP)

[Dogfish Head]

Paul, that is the best summation and probability I've seen yet on the situation ELTP is in. It makes sense that the preferreds would be shorting due to the fact that they have 10 million shares coming to them each quarter. Sucks in the short term for us as it puts an artificial cap on the stock. Wonder if Treppel and company have plans in the works to deal with this. So if I have this right from your post, in effect ELTP is being diluted apporximately 3.3 million shares per month?

I'm a value, long term investor and can see through the short term problems here. In fact, in a way I'm grateful for the opportunity to continue to accumulate a rather large position at these levels. What will trump everything is the oxy approval. Do we have any expectations on when we may hear a yea or nay on that this year?

Again, thanks for laying out such a detailed message. I appreciate the effort!

DF