Replies to post #221297 on Elite Pharmaceuticals Inc (ELTP)

[captainsjg]

So the 160 million shares he owns isn't a safety net?

[captainsjg]

Sure I'll answer. They have 12 mil on hand. When the ship sinks who gets paid first? The answer is him. The stock buyer is last. That's common sense

[jour_trader]

That loan doesn't exist anymore as it was paid back a few months ago with LPC funding.

[jour_trader]

A simple internet search will reveal other companies whose CEO's made similar loans.

FITX is one such OTC stock example. Not only did their current CEO loan money, but also their prior CEO. Get this - UNSECURED with interest rates of 8-10%. Sound familiar. It should, but keep reading.

Their prior CEO FORGAVE $2M in loans made to the company. Now why wouldn't Nasrat do the same if he's so genuine & concerned about Elite? Oh yeah, he ensured he got his money back right before the CRL was issued. LOL.