Replies to post #373618 on Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

To begin with, it is less about being right than getting it right. Just to be clear, the written transcript does not have the part you mentioned. It ends with...

Are you still on track for a NASDAQ move in 2022? Let me say this, moving to NASDAQ continues to be an objective as discussed in past calls.

This is why many - unable to listen in live - review the transcript and did not see any such discussion. Just to be clear, the above is the prelude to the statement that is on the audio version and it does have the 15-25 cent quote. But context matters. Presented as a fait accompli, something that will happen at 15 cents, is vastly different than what was said. So, let's take a look at that...

Nasrat said, "I do not want to do a split at 5 cents. It needs to be a minimum 15-25 cents"...and he says it again..."at a minimum" and continues to add, then there's the matter of "getting from the reverse split to the Nasdaq when the price can be manipulated down." He goes on to mentioned that there are things they would have to do, but he cannot talk about them. Do anyone think that companies uplisting from the OTC magically find the shorting effort will cease? No, in fact, they should expect it to be exacerbated.

So, let's get to the bottom line...Nasrat is NOT looking for the share price to hit 15 cents so he can do a reverse. There is no such target. Nasrat spoke to a bottom basement range 15-25 cents, but here is where my "business speak" comes into play...

He was obligingly answering a frequently asked question with the same focus on getting to a point in the future where it makes sense to reverse and uplist. Exactly what he needs to say to satisfy the "uplisters". However, there is no absolute share price target that, if hit, will trigger an effort to uplist. That is what I want to be clear about. In fact, let me be clearer, there is nothing in his response that changes my position on uplisting. The whole uplisting discussion reminds me of the sign I would see hanging from a bar near where I used to ski..."Free Beer Tomorrow"...