Okay, how about a primer on solvency?
Based on its most recent financials, Elite’s current ratio is about 2.3. What that means is they have the ability to pay off their current liabilities by a factor of 2.3X. Any company above 1.00 is doing well, but to be MORE than double is outstanding. If you are unaware, Elite's current ratio is BETTER than Apple, AstraZeneca, Allegan, & Teva pharma.
What other ratios can we offer to show the financial strength of the company? What about the cash ratio? That is the ability to pay off current liabilities with ONLY CASH. Again, anything better than one point zero (1.0) is good (it means the company has one dollar in cash for every dollar in liabilities) and Elite is at 1.51...ONE POINT FIVE ONE DOLLARS FOR EVERY DOLLAR IT OWES!
What point could there be about Elite being solvent? It is about short term liquidity and, as the above clearly shows, Elite has no solvency issues.
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