Replies to post #339307 on Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

Nostrum paid Elite $1.2M for #4 IR opioids with annual sales worth hundreds of millions of dollars.

I still can't believe they're gone. Poof. After years of development and millions of dollars-- sold for pennies without any discussion. I make business and personal decisions the same way I make medical decisions. Step One is to analyze the risks & benefits. What was a bigger risk for our company? Our auditor called us a going concern because of lack of income and lack of access to capital. Our low, low share price makes our current capital access through LPC extremely dilutive. Elite shareholders have already seen their positions diluted by 2X. This company was and is desperate for any source of income, and Nasrat refuses to commercialise these highly-lucrative assets. And then he dumps them out the back door so his NJ pharma bro can come by and load them up.


After everything Elite has gone through at his direction, Nasrat decided the bigger risk for our company was being sued for perfectly legal behavior in a highly-regulated business. Who can help me understand this? For me, I can only see the APPEARANCE OF IMPROPRIETY.