"We had good reasons to expect more revenue, but we got less. That is a problem for the current quarter and upcoming quarters. Fewer manufacturing fees now mean fewer licensing fees in the future, and that is the true bottom line."
That explains why Elite is trading in the $0.05's !!!!!!!!!!!!!
I read and re-read this missive about Elite and could not reconcile it with what I posted about the P&L (income statement) nor what was stated on Elite’s Q2 CC. Finally, I realized the reason was because the inference does not follow the evidence, which makes it a classic non sequitur.
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