Elite Pharmaceuticals Inc (ELTP)

[soccadoc]

This is off the top of my head, but I am pretty sure the remaining shares outstanding are set aside for two directors who are authorized, but not obligated, to receive 120M shares each upon the company reaching certain milestones. These were promised years ago by previous management, and last year we had to vote to authorize an increase in shares to enable enough shares to be available. The new BOD stated that these shares would not likely be issued, but rather were to be held in reserve as leverage to defend against a hostile takeover attempt. Does anyone else remember this, or am I just trippin?