Replies to post #60721 on Elite Pharmaceuticals Inc (ELTP)

[richme]

Thanks, appreciate the response. Yes it would appear that LPC could not sell shares acquired from Elite without the filing.

[dr_lowenstein]

That is not correct. The Notice of Effectiveness is issued in response to a registration statement filed by the company so that a new pile of shares may be sold for public trading. This notice was in response to an amendment to the reg statement simply updating the financials in the original reg statement. The original notice of effectiveness was issued on 5-9-13. It was at that point that the company was permitted to sell shares to LPC and LPC was free to sell those shares into the open market.
It is a serious misunderstanding to think no dilution is associated with this event, in fact it is approximately 81 millions shares of dilution.
It proves absolutely nothing re LPC holding shares. They are selling.