Replies to post #370837 on Elite Pharmaceuticals Inc (ELTP)

[Trend-Setter]

I will not and have resisted for years going to NASDAQ on the fundamentals we have. Because if we do have a reversal split whether it’s 10 or 20, whatever it is to get us to NASDAQ and then when we get there, we don’t have the right fundamentals and we gravitate back to the OTC Board, everybody at the sound of my voice would lose 10 to 20-fold their investment, okay. And that could happen very easily. This is why even though it’s lucrative and you would be in NASDAQ for a short period of time and it’s not the right thing for any of us unless we get to the right fundamentals. And if it happens, it happens, it happens tomorrow fine. It happens in 100 years fine. I am not going to do it and risk the company going through what a lot of companies going through and that is gravitating back to the bulletin board. - Nasrat

[no2koolaid]

Reading between the lines, that roughly translates into a share price of about 20 cents before Nasrat would pull the trigger. Why? Because the p/s has to be at a minimum of $3.00 upon the reverse. However, generally, institutions want the new price at $5.00 before jumping in. Then there is the concern that the short's and MMs would attack the price and try to bring it down and, burdened by so much "scar tissue", the retail investor would panic and sell, creating a fear enforced drop...and we are back to the OTC game. For Nasrat, there is no way he will chance such a misstep.

Just for grins, I ran a very conservative DCF analysis based on what we know from today's numbers and, of course, projections for growth. Without getting into the weeds, I have Elite's share price at 28-34 cents...NOW! As in - TODAY!

One more thing...

I will save the logic for when I have more time, but I am changing two of my previous positions based on my interpretation of today's call.

1. I no longer think 2023 is a buyout year. Nasrat just signaled a longer game - How much longer?" No idea.
2. My interpretation of the longer game also changes my position about the Nasdaq. I think it is now in play.

And I like Chen's background!

[DSherman]

Not a bad split at all!!
Eltp $$$$$$