Replies to post #85755 on Elite Pharmaceuticals Inc (ELTP)

[tangerine]

Why would any long term investor call about something we all have known for years. And was explained to you in detail yesterday. Just go back to yesterday and read the posts. The CEO told you Epic would be doing this too. That is the funny part. What till you see what comes next....Inquiring minds want to know...lol

[packerfanbud]

Conix,
The selling was one transaction not 4. The shares are owned by Epic Investments, LLC, which is not the same as Epic Pharma. If you notice the form 4 for Epic Investments shows that the ownership was direct and the other 3 the ownership is indirect for the line of the sale. For the two individuals involved it shows how many shares each own directly, and there is not a sale related to those shares.

[Hike]

I have.

This is my explanation. I'll type as slowly as I can.

There was just one sale by Epic Investments on 1/17 of 805,538 shares. These are reported as "directly held".

The shares reported as sold by Epic Pharma, Narine and Nigalaye are the same shares.

These shares are indirectly owned through Epic Investments.
The amounts they are reporting are the pro-rata number of shares they own through Epic Investments.

It's so simple....even a seasoned trader can understand it.

Oh, and here is the exact reply I received from Diane...

You are correct.
The forms explain that – especially if one reads the footnotes.

Epic Investments (EI”) is the direct holder.
Epic Pharma (“EP”), Ashok and Jai are indirect owners of EI.
Anytime EI has a filing event, EP, Ashok and Jai all must file as an indirect owner of EI.

Therefore, for each triggering event of EI, there are three additional filings for the indirect owners for the same event.

As for the total ownership in Box 5 of the form 4’s, the total ownership being reported for Jai and Ashok is only the percentage of ownership each has personally of EI and EP.

[3454]

"But I am really interested in the 4 Insider Selling filings and the number of shares outstanding." LMAO are you serious??? Why do you not understand this? The 4 filings were not representative of four sales.

[mrwrn2010]

Why did the Chairman of the Board recently purchase $600,000 worth of ELTP stock?


"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise." - Peter Lynch

[rdragon]

Conix,

What is your take on the chart at this point?