Replies to post #396734 on Elite Pharmaceuticals Inc (ELTP)

[HGilS]

Kayak - another true 👑

[IB_]

This is nothing but fictitious, made up, garbage !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You make this up like if you were there, so just STFU ...........

IB_

[WeeZuhl]

Thanks for your opinion Kayak.

Quite the contrary, he went to his CFO and the board and say Elite needs to buy SunGen's half, its a great opportunity!!
His CFO said "Nope, Elite can't affort to buy this now!". The board said "We agree with the CFO, no!"

Nasrat said, "Fine you guys are not going to buy it I am!!!". The CFO and board said "Great, knock yourself out because we ARE NOT buying it."

There is a factual record of what he did at that time, and it will be revealed. There will be depositions of principles. I feel very confident that the events as described by you above will not pass legal muster. The record will show he only put any serious effort into buying the assets for himself. There was a never a serious effort to arrange financing for Elite, and the Mikah-SunGen transaction will be considered a breach of his fiduciary duty to Elite's shareholders. Maybe I'm wrong. I promise you we will find out.

You guys bitching about Nasrat owning the Adderall are like babies who passed up an opportunity and want a free do-over. Your mamma may have given you free do-overs but the world does not. Elite had the opportunity to buy it and didn't, they have lost all rights or say over the product. Nasrat doesn't won them anything. None of you would sell it at a loss to your company, so why do you expect Nasrat too?

This is your usual straw man argument, which as usual is completely wrong. I've always said he should name the price and make it happen. I would appreciate a fair deal through a neutral third party arbiter, but I know better than to expect it from Nasrat Hakim. I have never once suggested he should sell it at a loss, and you know that by now. Your continued use of an easily disprovable straw man argument indicates you've got nothing better to say.

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[NASDAQ2020]

Does MIKAH pay for half of raw materials ?