Replies to post #381764 on Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

EXACTLY.

The Rat even stated last summer he was considering using the bank loan to buy back the Adderalls.

The Board even came to an Agreement with him on the dollar amount.

I just don't understand how Elite was all happy and bragging about getting a good sized loan at reasonable interest rates just to turn around and use that SAME loan money to pay off the SAME loan.

Why pay the bank loan back early instead of buying the Adderall ANDAs from Mikah?

[jour_trader]

Absolutely everything about this CEO reeks more and more each year. Just when you think he has hit a new low he keeps on surprising.

[The ELTP King]

The most recent CFO didn't even sign off on the 10-K. THAT is how corrupt The Rat is.

The most likely explanation for the revolving door of CFOs is that the CEO is trying to make them sign off on things that are either unethical or illegal or both.

The previous two CFO's bit their tongue and held out for exactly one year. (They couldn't wait to leave)

The most recent CFO lasted just a few months.

Shareholders are stuck with the outrageous behavior of this rogue CEO, but CFO’s can give him the middle finger and leave. The fact that this has happened multiple times in such a short period is indicative that the CEO is as big of an obstinate ass as he appears to be, probably bigger.