Elite Pharmaceuticals Inc (ELTP)

[Couch]

People do indeed retire off penny stocks like ELTP. To have said otherwise is mistaken.

10 penny stocks that didn't stay that way
Once considered either fraudulent or bankrupt, these stocks show how the unlikely became a reality.

http://money.msn.com/top-stocks/post.aspx?post=f31d0125-0818-47f7-87d7-cad7848d0a7f

The other type of penny stock that investors may be familiar with is the formerly successful company that has come on hard times. This is not uncommon. Often, the market expects that these companies are heading for bankruptcy (and sometimes they are) and prices the stock accordingly. Most of the time these aren't great investments either, but every once in awhile they can produce staggering gains.