Elite Pharmaceuticals Inc (ELTP)

[Hike]

Jerry Treppel - Elite Pharmaceuticals, Inc. - Chairman and CEO

Well, as you know -- you read the deal. It's a complex deal. There were just aspects of it -- their issue revolved around issuing a note versus stock for certain aspects of it. I mean, frankly, if you were able to look at the new structure that they are okay with, it's not a heck of a lot different. Okay?
It's more semantics than anything else.
But that's the way they are. So fine. And in terms of economics of the deal, they haven't changed at all. So someone there felt like they had to do something that day.

Carter Ward - Elite Pharmaceuticals, Inc. - CFO
I mean, really, (technical difficulty) is that the problem with the deal was really some very technical SEC legal issues, which made it clear to us that the S-1 wouldn't -- was not going to be approved. And so it was just in the best interest of everybody involved for us to request that that S-1 be withdrawn.
There are alternate deal structures which are essentially the same from an economic standpoint, but that address these very technical legal issues in a different way which are acceptable. So that's where we are at right now.