Replies to post #348719 on Elite Pharmaceuticals Inc (ELTP)

[DSherman]

Good and accurate post!!
Eltp $$$$$$$

[namtae]

More nonsense.

What the above makes clear is that there was no competition between Elite and Mikah to purchase SunGen’s solid dose portfolio because there could be no competition, as it would be in violation of SEC rules and put Nasrat in the legal jeopardy.

There is no SEC rule that prohibits Mikah from competing with Elite. Utter BS!!

Please site the rule. Link please

Maybe google some more research about arms length transactions and fairness opinions

PERIOD

[wetscent]

Imagine our surprise when one was under 5000

[jgsnys]

"What the above makes clear is that there was no competition between Elite and Mikah to purchase SunGen’s solid dose portfolio because there could be no competition, as it would be in violation of SEC rules and put Nasrat in the legal jeopardy. It is only by NOT competing with Elite that Nasrat can avoid SEC sanctions as owner of Mikah while CEO of Elite. As the discussion from the Annual CC makes clear, there was no conflict.

Always glad to clear up the confusion."

Call it "idle speculation" if you must but, Here's where Nasrat might say, "Darn if the prof didn't cast further suspicion on my already highly questionable business practices. At least as always it came with a large side of condescension and self-aggrandizement such as one might be regularly forced to endure at Hillbilly University or to a somewhat lesser degree during an Elite Pharmaceuticals conference-call for that matter.

[WeeZuhl]

What the above makes clear is that there was no competition between Elite and Mikah to purchase SunGen’s solid dose portfolio because there could be no competition, as it would be in violation of SEC rules and put Nasrat in the legal jeopardy. It is only by NOT competing with Elite that Nasrat can avoid SEC sanctions as owner of Mikah while CEO of Elite.

Interesting. I thought these Mikah conflicts were ethical lapses, but this post asserts that Nasrat Hakim is actually violating SEC regulations. Please elaborate (succinctly), with links...