Replies to post #382209 on Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

Perhaps you can unpack the idea that when Sungen desperately needed funds and decided to sell its share of the profit margin in the Adderall products, which I believe is 25%, it sold to Mikah rather than a foreign corporation who might own that share forever. Are shareholders better off and a better position now.

[dest_golf]

this post is right on target, and the primary reason why this stock price is down.. the ceo continues to treat shareholders like idiots. the below excerpt from recent CC is a prime example... he says " I've addressed this issue to death"

"it does not impact Elite in any way shape or form"

Doesnt' impact elite... Bullsxxx..

"We are a serious company"

Yea, serious public company that has a CEO running a parallel private company which cherry picks beneficial deals for his own benefit.

NO frankly you haven't addressed it at all.. all you've done is displayed an exasperation with having to address it. The question about alternative financing or arrangement for Elite to take on the Sungen percent is valid...

We will never know how much the percent ownership cost. You can bet the CEO will never be transparent about those details. Why?

He is a coward when it comes to addressing questions. So, easy to have a one side conversation isn't it... all you have to do is say that's ridiculous and move on. There is zero accountability.

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I'll start first with the partnerships and sales. The first set of questions, but five, six of them, five of them are about Mikah and Adderall, okay? I've addressed this issue to death and there will be no more at a single decision. If and when, the Board of Directors decided this time to make an offer. And if it is accepted then there will be an announcement, till then, we are in the same norm we were in the port, where SunGen on this product and if SunGen sold it to a Chinese or Indian company, would have been in the same boat or even worse, it does not impact Elite in any way shape or form. The board will decide if and when they are going to make an offer and you're asking the question doesn't mean I'm going to tell you, oh yeah, thanks for asking, I talked to the board and they said let's do this.

These questions are meant to create negative impact on the Board and create gossip and we're done with that. We are a serious company. We're starting sales and marketing. We need to start in sustaining serious questions. Questions like why didn't you give us the money in 2020 in order to buy this are really ridiculous.