Replies to post #331905 on Elite Pharmaceuticals Inc (ELTP)

[jbdiver]

First of all no one knows if they are even applying. Secondly, you have no idea what the ratio is from approved to not. I’m here to tell you that the banks were not ready for this flux of transactions delegated by the government. Basically volintold. They are doing the best they can, but the vast amounts of businesses not getting the funding far exceeds the ones that are. Clients are extremely upset and the bank may lose them because of this.
All im saying is don't be surprised if we apply and dont get aid and this thing goes bellyup.
The government cant save everyone. Business’ rise and fall and sometimes there is nothing we can do about it.

But Im a shareholder and hope we do. My nature is to look at these things objectively, take emotion out of the equation and make the best decision I can with the information at hand.

[jour_trader]

Public companies are strongly encouraged to return funds if they did receive any. Elite will not benefit at all. Anything else is a fabrication.

[The ELTP King]

Great post.

Looking forward to how much money Elite gets from the CARES Act and/or the additional stimulus package passed yesterday.

Also, I sent an email to Dianne on Tuesday encouraging Elite to take FULL ADVANTAGE of the CARES Act.

In fact, I will be voting NO on the increase in authorized shares if Elite fails to take FULL ADVANTAGE of the CARES Act and/or the additional stimulus package passed yesterday.

As a reminder, the annual conference call will be taking place one week PRIOR to the special shareholder meeting.

We'll know if Elite took FULL ADVANTAGE of these stimulus packages during the conference call.

NO EXCUSES not to take advantage of this opportunity.

Like I said, all my shares will be voting NO if they didn't.

Wow.... you should tell that to the millions of small businesses that are hurting and applied for the PPP and many have already received it. How can this be bad for them. Now I know that with the lack of oversight that some businesses will receive the PPP that really don’t need it. Maybe Elite falls in this category..they will be cash flow positive next quarter.

But I would think less of Nasrat if he didn’t apply for the PPP...it’s a Grant....non repayable....even if you don’t use the money for payroll and/ or utilities... then it’s considered a loan to be paid back at 1%.... that’s a heck of a lot cheaper than LPC financing...

This just make smart business sense...let me know what bank you can get cheaper than 1%....working for a top 5 company... I would expect more.

[The ELTP King]

Correct. Elite is the POSTER CHILD for these stimulus funds.

1. Going concern on the books.
2. No access to additional funding (shareholder vote on December 4, 2019 not valid).
3. Pharmaceutical products are a necessity. (Elite employees are "essential" workers).

Here's some reading for everyone:

https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf

Wow.... you should tell that to the millions of small businesses that are hurting and applied for the PPP and many have already received it. How can this be bad for them. Now I know that with the lack of oversight that some businesses will receive the PPP that really don’t need it. Maybe Elite falls in this category..they will be cash flow positive next quarter.

But I would think less of Nasrat if he didn’t apply for the PPP...it’s a Grant....non repayable....even if you don’t use the money for payroll and/ or utilities... then it’s considered a loan to be paid back at 1%.... that’s a heck of a lot cheaper than LPC financing...

This just make smart business sense...let me know what bank you can get cheaper than 1%....working for a top 5 company... I would expect more.