So comparing revenues from a quarter one year ago, manufacturing revenues have increased over 200% and royalty revenues have increased more than 700%. Clearly, Elite is growing substantially as we continue to add products. Elite is preparing to launch three new products for its portfolio, two strengths of the Phentermine capsules and an Naltrexone tablet product.
re"how I proved this statement to be wrong" It wasn't wrong, but it doesn't matter, because the NEWS is going to be NOVEL asset sale and Drug Launches, and how the insiders acquired their shares doesn't matter. What matters is they are accumulating a huge position, and will work hard to make it pay off for them, and the rest of us longs that believe in the business plan.
The 10% stake could be used to get rid of the bond debt which would be huge. On top of that Elite will soon be making anough revenue to be cash flow positive.
IF and I do say IF Elite is able to get $20-$25 million for its sale of the Novel stake what are the chances Jerry would buy back some shares at some point in time to help expedite a shareprice high enough to get Elite onto another exchange?
Not saying he would do this right away. They could hold the cash in reserve for a while and use what they must for other projects while slowly accumulating more cash from their positive cash revenues.
Something like may not happen at all or it may not happen for a very long time. Just something to consider further down the road. Lots of options here.
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