Replies to post #8505 on Elite Pharmaceuticals Inc (ELTP)

[Redeyes]

Hence the pps. No surprise. I am waiting on the proxy.

[Hike]

This is no different a stance from the previous annual statement.

Basically they are keeping what the got from the bonds and they won't pay back until either they are threatened with foreclosure or the debt payment is postponed. If they are threatened with foreclosure they go to Epic/Actavis/Hi-Tech/TPN for help. If the debt is postponed to 2013 the loan essentially becomes a longer term loan.

No reason not to take it to the brink.

[dr_lowenstein]

Agree, Ouch