Elite Pharmaceuticals Inc (ELTP)

[packerfanbud]

Nope, I read that. Here is why I disagree.

quote]The Registration Statement has not been declared effective by the Commission, and no securities have been sold pursuant to the Registration Statement or the prospectus contained therein. The Company believes that the withdrawal of the Registration Statement is consistent with the public interest and protection of investors, as contemplated by Rule 477.
[/quote]

The Socius agreement was no longer in the best interest of Elite and their shareholders. The patent was the catalyst for the change. 6 months ago without the patent the Socius deal was the best available. Now with the patent the deal is not that great for stakeholders. Elite and the SEC recognized this, and the filings support it.