Replies to post #230160 on Elite Pharmaceuticals Inc (ELTP)

[namtae]

You're kidding, right?

You realize the ONLY way Nasrat gets paid is through a buyout.............right?

Please explain how he sells the amount of shares he has AND the amount of shares the other insiders hold any other possible way.

What you need to research is the loooooooong list of insiders that dumped millions and millions of dollars of shares without filing Form 4 that WERE CAUGHT by the SEC!! I dont think you'll find more than a handful fined in excess of $150,000!! Most much less...

This is habitual in the markets because the civil penalties sought are minor in comparison to the proceeds of sale. and remember, this is only those that have been caught!! As everyone understands, little POS penny stock companies get away with lots more corruption because the SEC generally focuses much more resources on larger crimes.

Further, there is ABSOLUTELY NO REASON for nasrat to convert his Preferred to common unless he planned to dump. Im still waiting for anyone to provide an alternative reason.. Its surely not in preparation of a buyout. Converting would be the last thing he'd do until a buyout was agreed to, made public and then the shares would auto convert upon the closing...

NOBODY would convert their preferred ahead of time and lose the privileges of the preferred if a deal didnt consumate.

The conversion theory of a buyout is simply wrong and a weak attempt to find a silver lining to nasrats conversion where none exists.

Its total BS!!

[John_Langston]

Please explain how he sells the amount of shares he has AND the amount of shares the other insiders hold any other possible way.

He sells Mikah Pharma.