Elite Pharmaceuticals Inc (ELTP)

[mrwrn2010]

Cargo,

Very interesting to see your take on the latest SEC filing from Elite. Are you familiar with the company symboled HAIR that you previously mentioned? Are you able to give any type of comparison as to potential between ELTP and HAIR in relation to a private offering that may raise the stock price? Just wondering if this other company had anything comparable to the type of technology that Elite has come up with, and if that company can get X for a stock price offering, what can Elite get? Of course its all complete and utter speculation and I realize this may be an outlandish question but I'm just curious to see what your opinion is on the matter. Thanks in advance.

*I am also in the school of thought that JT would not refuse a deal with Socius unless he had a better backup plan in place. Logically, it just doesn't make any sense otherwise. Not to mention footing a $500,000 loan of his own money to Elite for continuing operations and expansions. As the CEO, he obviously has a clear picture of Elite's condition as a company and must think that injecting his own capital into the company will produce positive results.