Replies to post #249857 on Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

Nasrat Hakim on reverse split and $1 minimum threshold.

Feb. 18, 2014

"Let me add on Carter’s behalf, because I feel very strongly about this point. Someday, we may have a reverse split. Today, I’m absolutely certain, if we have a reverse split because again everybody is looking at us, as if we are already a fully functional, commercial manufacturing company, they are going to start looking at the fundamentals and the stock will start to gravitate back to a penny stock."

"I will not do that to the stockholders. We will have some kind of a reverse split once the stock gets to a dollar, once we have a partner, once we finish, once we file and I do believe on the rate we’re going, we’re going to be filing an application this year. And we’re going to be launching by the end of next year. So that’s when we start to have fundamentals, then I feel more comfortable then yes, we’re going to protect the stockholders. And if I have a reverse split then the institutions will take over and will take it further. But at this time, it doesn’t make any sense to me."

LINK: https://seekingalpha.com/article/2029611-elite-pharmaceuticals-ceo-discusses-f3q2014-results-earnings-call-transcript?part=single

I don't ever recall a $1 threshold.