Imminent PR(s) for Elite's FDA/DEA new approvals will be well received by the "Street" that a very important new Pharmaceutical has just received major new product/manufacturing growth factors to add to existing growth factors. The importance will be emergence of spectacular profitability in the late 3rd and full 4th Qtrs fiscal 2013.
Speculator retail investors that want to but do not buy ELTP now are risking higher PPS entry each day. There are considerable sideline monies waiting for a pull back that may not happen as word spreads. CMF(14) is now at a spectacular +0.55. Elite’s PRs could be published any day up to Oct 15 so that leaves at the most a mere 4 weeks.
In addition there remains the MMs requirements to buy to cover the massive 10 mil Naked Shorting that they had accumulated earlier in the Spring 2012. This was the result of Elite’s ELI-216 Patent Grant on May 22. How much of that remains is not known. What is known is that Knight has 2 major lawsuits against it for "flash trading" software malfunctions leading to massive debt. The SEC is now keeping a close surveillance on the OTC BB MMs so that Naked Shorting at 21% is less than half of the OTC BB MMs normal +40% to 75%.
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