mrwrn2010
At the last CC it was stated in careful wording that can only be interpreted that Elite finally has FDA/DEA "unofficial" verbal approvals. It can only be "official" when FDA/DEA hard copy signed documents are in Elite's legal possession.
Word is circulating, unofficially of course, that the PR(s) are already written as Elite's knows exactly what will be FDA/DEA officially approved. Products, tech transfers, manufacturing suites, packaging, etc!
Big conservative Pharmaceutical investors, Institutional, Funds, etc. only buy in on "official" FDA/DEA documentation.
Meanwhile speculative investors, like we retailers, do whatever fits our risk tolerance.
So how long before Elite receives legal official signed FDA/DEA documentation stating the exact approvals awarded to Elite?
Word is circulating, unofficially of course, that FDA/DEA official legal documentation to be in the recipient's legal possession from verbal approval, takes 1 to 3 months.
CC was Aug 15 when FDA/DEA verbal approval announcement was mentioned by Elite. There was no mention at the Jul 3 CC. It is assumed then that on approx July 15 that the ongoing FDA/DEA inspections were concluded with verbal approvals. That should mean Oct 15 will be 3 months.
So any time now to Oct 15, or within the next 4 weeks, Elite will have received official legal FDA/DEA documentations stating the exact details for Products, tech transfers, manufacturing suites, and packaging. To be real conservative add another two weeks to Nov 1. Elite will then be issuing legal PR(s) detailing the exact FDA/DEA approvals.
The next official scheduled documentations and CC, based on 2011 schedules, will be approx Nov 14, 2012 for the Sept 30 2012 Qtr results.
All of this is JMHO.
As a reminder to all.
“Meanwhile speculative investors, like we retailers, do whatever fits our risk tolerance.”
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