Replies to post #20229 on Elite Group Inc. (fka ELTZ)

[Diligence Due]

Pink Current trip zero, there's a reason you dont see pink current trips very often and that because they ones that are dont stay in the trips for very long.

[Amoboy123]

Where is a PR if it’s finalized ?

[Monte_Cristo]

No Minced words; Pretty Clear the deal is FINALIZED! * Not in the Final Stages,! FINALIZED $$$$$$$$

Did ELTZ acquire Red Diamond Resources then? If so, why didn't Tecco check off "Item 2.01 Completion of Acquisition or Disposition of Assets?" in the 8-k? The only other option is that the acquisition was not deemed "significant." An acquisition or disposition is deemed significant if (1) the company's and its other subsidiaries' equity in the net book value of the assets or the amount paid or received for the assets exceeded 10% of the total assets of the company and its consolidated subsidiaries, or (2) the transaction involved a business that is significant under Regulation S-X.

Those are your only two options. The acquisition didn't formally close, which is my guess. Or, worse, if there was an acquisition, it wasn't significant as per the SEC's definition of significant (i.e. ELTZ's equity in the net book value of the assets or the amount paid for the assets exceeded 10% of its total assets ($225,474 assets as of last 10-Q, $125k of which was attributed to a deposit)). That means that they acquired Red Diamond Resources or shares in Red Diamond Resources for less than $22,547. Great deal to pay less than $22,547 to receive $4.5M annually, but who possibly believes that? Trade away, though. Nothing wrong with flipping this junk a bit.

[screen shot]

Will share structure remain same?

[brightguy]

Nothing ELITE about this company,appears to be under water!