LOL. And another post concerned about fake paper losses due to the derivatives because the stock price went up. Nice....Wonder if the PPS had gone down and they showed a paper profit....well nevermind
You realize the derivatives loss has nothing to do with the ongoing business of the company right and changes when the PPS goes up and down? Here's a hint...as the stock heads higher in the coming months, the derivatives loss will increase.
Best to read the 10-Q and understand GAAP derivative losses comparison due to Elite's PPS rise from $0.07 at the beginning of the quarter to $0.12 at the end of the quarter.
Change in 3 months fair value of warrant derivatives -$6,129,579
Change in 3 months fair value of preferred share derivatives -$2,565,495
Please note that the Company’s other income/(expenses) are significantly influenced by the fluctuations in the fair value of outstanding preferred share and warrant derivatives, and that such fair values strongly correlate to and vary inversely with the market share price of the Company’s Common Stock.
During the quarter ended September 30, 2013, the closing price of the Company’s Common Stock rose from $0.07 at the beginning of the quarter to $0.12 at the end of the quarter, as compared to a decrease in the closing price of the Company Common’s from $0.13 to $0.12 occurring in the comparable period of the prior year.