Elite Pharmaceuticals Inc (QB) (ELTP) Share Price

Well I am me. I am this Picture. I am Yodster on IG. Zonayodster on Yahoo I think. Redraft5k on Reddit.....Sportsbook14 on Stocktwits. Why would I make up an imposter person?

I have never been a Mod of a board ever. lol. I am a gen X person living in AZ and La Jolla.
My goal is to get as much as I can. I have said it before and I will say it now. I have held since '14. Accumulated the most of my shares at .04 and Have cost avg. up. I own over 1.6 million shares. What reason would I have to want this to go anything but up?

Very insightful WhenMoon !
I think what Hgils is saying is that the value to a foreign acquirer goes up by however much local manufacturing will save them on the 25% (soon to be higher) tariffs. If they sell 5 billion a year in the USA currently, and it would take them 2 years to set up local manufacturing, acquiring a local company immediately could save a theoretical 2.5 billion in tariffs over the two year period.
These tariffs, which everyone knew were on the way, and the general Trump administration economic climate could very well be the reason Nasrat appears to have moved up his timeline to sell the company. He probably sees all this as a perfect storm opportunity to combine Elite's undeniable revenue growth with macroeconomic headwinds.
While some here say to wait for more revenue growth to formally show on the financial statements to maximize multiples, there is good reason to think that foreign companies are looking for opportunities for quick access to USA pharma production immediately. Throw in a bidding war and there is possibility of Elite selling for far more than its intrinsic value, based on its value added to a foreign acquirer bypassing tariffs and not having to lose that revenue. I think the reason Nasrat said "now is the time" is becoming more clear.

Because it's Old news. Rolling Stones just made another article out of it. Next!

Surprised no one has mentioned this
https://www.yahoo.com/news/rfk-jr-really-away-adhd-152947023.html

I used to hold hut 8 when they were on the otc.

They did the r/s when they upgraded to Nasdaq and a day or two before quarterly results. And it went up nicely.

Correct! Not on the table. Was just thinking, people toss the term around like it’s a hot grenade. I think it could be something that could benefit us. But maybe it’s cause I haven’t been hit by the shrapnel before 😂

Hey drsleep, I believe the r/s could be positive for us if done at the right time.

But it is not on the table now.

Can someone elucidate me on concerns of an RS?
Sure it might dip, but all I see is a company that is proven to do a great job for months. Wouldn’t it settle into its intrinsic value eventually? Never been through an RS before if one were to happen.

There are things hard to explain.

WhatsApp a simple chat app that a good programmer could develop in his garage was sold for $19 billion. That is hard to explain.

Just saw a reel that novo Nordisk the largest European company has a potential of sales of $3 trillion per year for ozenpic.

The 25% tax seems to be a little burden for them.

"You really do not know everything" !!!!!!!!!!!!

If that is true, how do you explain this: 👇️

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175829468

IB_🤴

Invested for so many years now..I guess a long way

“Foreseeable future”. lol. I don’t know if tomorrow is the day that Elite releases material news. How far into the future can you see?

Enough fun for today...looking for green week ahead

Uh Oh..you'll likely now be hit with a swarm of PM's......."don't respond to wetscent!!!"

haha maybe, though we have all seen the share price move 4% on 100 shares over and over. Literally 50$ can bring the market cap up or down 40 million in a moment lol.

Our profitability and our revenues will go up for Q4. The question is how much higher. This could help closing some debts.

You sure you sent that to the right guy?

Yeah, ironically, I've been hoping they would take on debt to acquire Mikah's half of Adderall and pay it off with the additional proceeds. To at least clean things up and improve optics even if it wouldn't be profitable for many years.
Now I don't know what the right move is, aka what would be more desirable for a suitor. More debt or half a product.

You can always exit slowly..there's plenty of time as we'll likely sit here around .50 for the foreseeable future

They're already in the works with that. Prasco deal being terminated next month, and Tagi/Precision Dose in September. I'm thinking we'll see the remaining Adderall rights be purchased from Mikah somewhere within that timeline (probably towards the latter end, as the raw materials needed for Lisdex will require mas moolah). Turns any acquisition, or merger into a one and done deal. Would also look better for an uplisting. All good things.

I know its a controversial topic here, but I trust Nasrat and BOD to get the right price. So whatever they come up with, I am likely to vote yes to. Like many here, the stock currently doesn't have enough liquidity to allow me to exit with my share count anyways.
Nasrat said we would need a RS to get to Nasdaq, which requires a 4$ minimum price. So if CEO is on record saying we can't do 4$ organically I would accept that. I am aware buyout price changes what can be achieved organically so its still possible to go higher than that. I'd say $1.5 to $2 is intrinsic value right now, but it could go much higher in buyout considering tariffs, potential multiple bidders, and speed to market for an acquirer. It is not a coincidence Nasrat says with certainty that now is time for M & A.
I'll tell you one thing though, the day we hear about elite having paid off all its (minimal) debts or buying Mikah's half of Adderalls, we will know with certainty a buyout is around the corner. I saw this with Blue Apron and multiple other companies that got acquired. They pay off their debt and remove third party complications beforehand.

I don’t post to be popular sorry.

I know I am not popular on this board but I post because very often my analysis is different than others and I help others thinking out of the box


I posted what when moon posted with almost zero reactions so what. What is important to me is that my analysis has been accepted by many on this board.
I stand with my feeling about sports. We are in a democracy. If you are not happy drink water.
FYI WhatsApp a simple chat app was bought for 19billion. Why? Because the buyer needed the users.

Sometimes you do not buy what is obvious. I.e a company with drugs and a pipeline.

You really do not know everything and I think you frequently peg people wrong. Plus you I do not think you are not the universally well respected poster you think you are here. Get a grip man.

Totally agree with pretty much everything you said but especially
At this point I think 6-8 is hilarious

Hey sports I called you for it in the past but you sound very much like our previous senior mod.

Same goals same words.

Maybe he was blonde too lol.

The narrative is keep hopes low not higher than $2 whatever happens. Soon we will hear about 2027.

Seems the board has gone from Dollarland to Dreamland!!!! Hey, at the end of the day our CEO has million of reasons to land a great deal. Exciting times in Eliteland!!! Nothing to do but sit back and wait on the news, maybe add a few more shares of lil ole ELTP to the portfolio!!!

As my grandma used to say: From your mouth (post) to G-d's ears.

I am not tripping on JFK ever taking away adhd or anti d's anytime soon. I DO see these tariffs as something that can only be a positive right? Like you say here, the implementation, so soon in this administration will be a positive if we are on the market to be sold. At this point I think 6-8 is hilarious. I am hating how excited I was last Summer bc I was excitedly day dreaming about a buy out. I will be happy with 2. What valuation are you guys willing to take? I mean hopefully we wake up on day next week and it's merged, or bought out, ( please please please ) but either way, I think this manufacturing facility is gonna come in real handy when looking for suitors.

It's a materiality threshold. Has almost nothing to do with your prior list pulled from chatGPT. 

Last one was not from ChatGPT. It is actually a law.

You can pull all you want from ChatGPT, but I'm speaking from my own experience woth several acquisitions from publicly held companies. There aren't many public material events that are disclosed. Nasrat may choose to be more public about certain activities to dry and draw more interest, but first, that would be extremely unlikely and second, against what he has done in the past. 

Here you go

Public Company’s Financial Reporting Requirement Relating To Acquisitions
September 8, 2020

The U.S. Securities and Exchange Commission (the “SEC”) believes that it is in the public interest for companies (“U.S. Public Companies”) with reporting obligations under the Securities Exchange Act of 1934, as amended (the “1934 Act”), that undertake material acquisitions to disclose those acquisitions to the public. The information to be disclosed would include, among other matters, a description of the business being acquired and the terms of the acquisition. Such requirements could be triggered by a significant acquisition of a company or part of business of a company. Depending on how “significant” the material acquisition is, the SEC may require that certain additional financial information, including audited financial statements, for the company or business being acquired be provided to the public so that it can make an informed investment decision. Rule 3- 05 of Regulation S-X sets out which acquisitions trigger disclosure on the financial information for the company or business being acquired and, if triggered, when that financial information is required to be filed. This requirement applies to significant acquisitions accomplished by both domestic issuers and foreign private issuers.

Part I of this summary covers specific requirements for financial statements required for registration statements and current event report filings. Part II covers types of acquisitions that trigger target company financials requirement. Part III covers when financial information of an acquired business financials must be included in public company filings. Part IV covers certain exceptions where regular rules do not apply in special situations.

I. Specific Requirements regarding Financials Furnished by the Acquiring Company.

In every case where target financial statements are required in the company’s prospectus, the company will need to include pro forma financial information. If the acquiror has provided target company’s financial information in previously filed 8-K amendment, previously filed financial statements may need to be updated for another fiscal quarter, or even for a full audited fiscal year. Age requirements are tested as of the effective date of the registration statement, rather than as of the filing date of the closing 8-K. Where historical financial statements of the target are required, pro forma financial information complying with S-X Article 11 must also be included. Article 11 requires:

A condensed pro forma balance sheet: As of the end of the most recent period for which a consolidated balance sheet of the acquiror is required, unless the transaction is already reflected in that balance sheet.
A condensed pro forma income statement: For the acquiror’s most recently completed fiscal year and the most recent stub period of the acquiror, unless the historical income statement reflects the transaction for the entire period.
II. Types of Acquisitions that Trigger Target Company Financial Information

If an acquisition or a series of aggregated acquisitions is deemed as “significant”, it will trigger the requirement for audited financial statements for the target company.

(1) Significance Test.

An individual acquisition (or multiple acquisitions of related businesses) is “significant” if the acquiror trips any of the following three tests above the 20% level:

Investment test: The amount of the acquiror’s investment in the target compared to the acquiror’s total assets;
Total asset test: The total assets of the target compared to the acquiror’s total assets; or
Pre-tax income test: The target’s income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principles (“pre-tax income”) compared to the pretax income of the acquiror for its most recent full fiscal year. If either the acquiror or the target had a net loss, then the absolute value of the negative amount is used for this test.
(2) Requirements if “significant”

If individual acquisition (or multiple acquisitions of related businesses) is not significant based on the tests set forth above, then no audited financial statements are required for the target.

If individual acquisition (or multiple acquisitions of related businesses) exceeds 20% significance but not 40% significance, the acquiror must include audited financial statements for the most recent fiscal year of the target. Unaudited interim financial statements for any stub period may also be needed, subject to staleness rules.

If individual acquisition (or multiple acquisitions of related businesses) exceeds 40% but not 50% significance, the acquiror will need to include audited financial statements for the two most recent fiscal years of the target. Unaudited interim financial statements for any stub period may also be needed, subject to staleness rules.

(3) “Probable” Acquisition with Greater than 50% Significance

For acquisitions above the 50% significance level, financial statements for the three most recent fiscal years of the target will be required even if the transaction has not closed yet so long as the transaction is “probable”. If individual acquisition (or multiple acquisitions of related businesses) has greater than 50% significance and is probable, the acquiror will generally need to include audited financial statements for the three most recent fiscal years of the target. Among other exemptions, U.S. Public Companies that are foreign private issuers undertaking acquisitions of 50% or greater will only need to provide two years of financial statements if they are filing a registration statement in connection with a public offering.

Rule 3-05 does not define “probable” acquisition, as it is a fact-specific inquiry taking account of issuer- specific considerations SEC has provided guidance in multiple occasions regarding what “probable” means. For example, SEC Financial Reporting Manual states that “Assessment of ‘probability’ requires consideration of all available facts. Acquisition is probable where registrant’s financial statements alone would not provide adequate financial information to make an investment decision.” From practice view, the following factors should be considered in assessing whether an acquisition is “probable” for purpose of the registrant’s reporting duty:

Whether there is signed definitive agreement or letter of intent;
Whether the approval from the board of directors of shareholders of the companies exists;
Whether there is submission of the terms of the proposed transaction to the regulatory agency for
approval;
Overall status of negotiations;
Whether any financial penalty is in place if the acquisition is not consummated;
Whether the acquiror or the target company have made public announcement regarding the business
acquisition.
Note that the above list is non-exhaustive, and an acquisition may still be considered “probable” when none of the above factors exist, as long as the acquiror’s financial statements alone would not provide investors with adequate information for investment decision making. The registration bears the responsibility to assess probability. Such assessment is fact intensive and industry specific, and advice from SEC legal counsel should be considered.

Lastly, in the case where multiple acquisitions of unrelated businesses that are less than 20% significant individually, are more than 50% significant on a combined basis, the acquiror will need to include the required financial information for the most recent fiscal year for a majority of the acquisitions even if they are individually insignificant (i.e. below the 20% significance level). Unaudited interim financial statements for any stub period may also be needed, subject to staleness rules. For this purpose, an acquisition is aggregated with any acquisitions that do not exceed 20% significance but closed after the date of the most recent audited balance sheet and any acquisitions that are only probable or which only closed during the past 74 days. If financial statements are required due to this aggregation, they need to cover at least one fiscal year (and latest interim period) for a majority of the targets, calculated based on significance.

III. When Audited Financial Statements of a Target Must Be Included the Filings

A U.S. Public Company may have to include audited financial statements in connection with a significant acquisition in a current report on Form 8-K or in a registration statement. If a company is not yet a U.S. Public Company but it has filed a registration statement with the SEC, it may have to include audited financial statements in connection with a significant acquisition in that registration statement before the SEC will declare it effective.

Required Financial Information on Form 8-KA significant acquisition by a U.S. public company triggers an 8-K at three different points: (1) when the acquisition agreement is signed, (2) when the acquisition closes and (3) within approximately 75 days of closing to file required target and pro forma financial statements, unless they were previously filed in a registration or proxy statement. When filing the 8-K/A, the permitted age of the financial statements is determined by reference to the filing date of the closing 8-K.
“Signing” 8K: When a U.S. Public Company signs a definitive agreement to enter into a significant acquisition, it must file an 8-K within four business days disclosing entry into that material agreement and provide certain related information. The U.S. Public Company does not need to include the audited financial information regarding the business to be acquired in this 8-K, but may include such financial information on voluntary basis2.
Closing 8K: U.S. Public Companies must disclose that a significant acquisition has closed within four business days of such a closing. The U.S. Public Company does not need to include the audited
financial information regarding the business that was acquired in this 8-K, but may include such financial information on voluntary basis.
8K/A: Unless previously filed with the SEC, U.S. Public Companies must file audited financial information regarding the business that was acquired in an amendment to the 8-K that was filed at closing within 71 days of the due date of such initial 8-K, or 75 days of the execution date of the transaction.
Required Financial Information in a Registration StatementU.S. Public Companies must include the Required Financial Information in a registration statement:
for an acquisition that has occurred and the significance of which is between 20% and 50%, if such acquisition occurred 75 days before the effectiveness of such registration statement;
for an acquisition that has occurred and the significance of which is 50% or greater, in such registration statement regardless of how much time has passed since the acquisition occurred;
for an acquisition that has not yet occurred but which is “probable” and the significance of which is 50% or greater, in such registration statement;
for an acquisition that has not yet occurred but which is “probable” and the significance of which is between 20% and 50%, in certain situations where the acquiring company’s financial statements alone would not provide investors with adequate financial information (this is a fact-specific inquiry taking account of issuer-specific considerations).
IV. Certain Exceptions

Special situations exist where financial information requirement differs from what is set out above. For examples:

Emerging growth company IPOs: EGCs are not required to present more than two years of target’s audited financial statements in an IPO filing, even if presenting three years of acquiror audited financials.
Using pro forma financials of the acquiror: A serial acquirer3 may be able to use pro forma financials that are more recent than its most recent audited financials for purposes of calculating significance in certain circumstances. This can be useful where the pro forma information produces a larger “denominator” for testing significance.
Shelf takedowns: The rules for shelf takedowns are generally the same as those for new registration
statements. However, in certain circumstances, such as a purely secondary offering, it is possible to conduct an offering using an existing shelf without providing historical financial statements for probable acquisitions that exceed the 50% significance level.
Acquisitions of related businesses: Related businesses are treated as a single business when measuring significance. If significance under S-X Rule 3-05 is met, separate financial statements for each of the related businesses (or combined financial statements, if appropriate under GAAP) will be required.
Acquisitions of Oil and Gas Properties: Producing oil and natural gas properties are considered to be a business under Rule S-X 11-01(d). If the acquired property represents less than substantially all of the selling entity’s key operating assets, abbreviated audited financial statements may be provided in the form of a statement of revenues and direct operating expenses
Understanding the SEC rules and market practice for financial statements triggered by significant acquisitions is crucial for planning and executing capital markets transactions. It is also important for negotiating acquisitions and related financing commitments. If the acquiring company wants to access the capital markets, or draw on a bridge financing, to finance the acquisition it may need target and pro forma financial statements much sooner than would be required by the SEC. As this memorandum is a summary of a complex subject matter, and the SEC’s interpretation of it could still be evolving, you are encouraged seek further guidance from your advisors to plan for your next acquisition.

© Ortoli Rosenstadt LLP 2020

1 US-based public companies are required to include target company’s financials in the issuer’s current event report (Form 8-K)
regarding the acquisition. A foreign private issuer is required to provide such financial statements in current event report, or form 6-K.

2If the acquisition does not involve a business or if it is not considered significant because it does not exceed 20% on any of the three tests it may still trigger a closing 8-K if the acquiring company’s equity in the net book value of the assets acquired or the amount paid exceed 10% of the acquiring company’s total assets.

3 Serial acquirers are firms which engage in streams of acquisitions to execute their strategies for enhanced value or performance. (See Customer retention: A source of value for serial acquirers, William Y. Degbey, Industrial Marketing Management Volume 46, April 2015, Page 11-23.

I completely agree with you. Elite doesn’t put out many PRs. Nasrat just doesn’t roll that way. Anyone who has been here for any amount of time knows that. Saying otherwise is wishful thinking that will lead to disappointment .

Several of these aren't material events to qualify for an 8-K. We will know the bookends, the initial partner and an offer with plenty of activity that takes place behind the scenes that we aren't privy to as shareholders. 

Hi jour, I posted a list of material events related to the M&A.
Certainly! Here are some material events related to an M&A transaction of a biopharmaceutical company:

### **1. Announcement of Intent**
- **Description**: The company publicly announces its intention to explore strategic alternatives, including potential mergers or acquisitions.
- **Impact**: This can lead to an initial surge in stock prices as investors anticipate potential value creation.

### **2. Signing of a Non-Disclosure Agreement (NDA)**
- **Description**: The company signs an NDA with potential buyers or partners to facilitate confidential discussions.
- **Impact**: Indicates serious interest and progress in the M&A process.

### **3. Due Diligence**
- **Description**: Both parties conduct thorough due diligence to assess the financial, legal, and operational aspects of the target company.
- **Impact**: Critical for identifying potential risks and validating the value of the transaction.

### **4. Signing of a Definitive Agreement**
- **Description**: The companies sign a definitive agreement outlining the terms and conditions of the transaction.
- **Impact**: This is a significant milestone that often leads to a more substantial impact on stock prices.

### **5. Regulatory Approvals**
- **Description**: The transaction requires approval from regulatory authorities, such as the Federal Trade Commission (FTC) or the European Commission.
- **Impact**: Regulatory approvals are crucial for the completion of the transaction and can affect stock prices based on the likelihood of approval.

### **6. Shareholder Approval**
- **Description**: Shareholders of the involved companies vote to approve the transaction.
- **Impact**: Shareholder approval is necessary for the transaction to proceed and can influence stock prices based on investor sentiment.

### **7. Closing of the Transaction**
- **Description**: The transaction is officially completed, and the companies integrate their operations.
- **Impact**: The finalization of the transaction can lead to significant changes in stock prices, depending on the perceived success of the integration.

### **8. Post-Merger Integration**
- **Description**: The companies work on integrating their operations, systems, and cultures.
- **Impact**: Successful integration is critical for realizing the anticipated synergies and value creation from the transaction.

These material events are closely monitored by investors and analysts, as they provide insights into the progress and potential outcomes of the M&A transaction.

Would you like more details on any specific event or assistance with anything else?

Regarding M&A, I think we should expect an initial investment advisory/banking partner communication, but then nothing for a while as due diligence plays out and an official offer is made. There is no need for an update as exploratory phase is underway.

all your signs were wrong. Vyvanse was launched and the new facility was approved. there is no way you are not special needs.

Told ya

if you were real nobility, you would admit you were 100% wrong. but you are not a king. here's another 10 cents for your bashing efforts.

Without a doubt, but they're looking at the entire system we have built, and I still believe big farm, with deep pockets would have a great interest (value) and understanding for our abuse deterrent technology.

It's unlikely I'll be invited..I mean what's there to do in Vegas anyway?..guess I could pick up some part time painting hotel rooms..as I've said, I do love the odor of a fresh coat of oil-base.

This person gets it and doesn't drink the kool aide. Time is running out. Stop the silly buyout rumors. Do now or this is Busto! Already not passing the smell test, I have bridges to sell and they are clean!

So if Nasrat starts the M&a thing soon, we should have a bunch of PR’s related to the buyout and some n launches plus some news on Purdue.

It should not be a no man’s land like I feared it would be.

Why do you. You have no idea what I did or did not do. Just focus on your own business please. Mine is to make money which I did. Now I want to make more money I’m not here to worship Nasrat.

He has a golden opportunity. Simply announce that elite will be hiring xyz company to help identify alternative strategies to maximize the value for the shareholders. What’s the delay. Why not just do this. I think it’s MIKAH and he doesn’t want to be subject to questions.

Just sell the MIKAH portion back to elite for what he paid, and then sell the company. He’s made enough money off us.

All we need is that idiot TRUMP or RFK tweeting something that sinks us and it’s game over. Get out now and sell now nasrat. Just my opinion

BOOM! -- "All signs point to the following:"

Told ya!

Where's your evidence?

are these not your words? you wanna squirm out with semantics?

All signs point to the following:

1. Vyvanse never launched. Elite lied.

Evidence #1: FDA website.
Evidence #2: First hand experience by posters on this board.

2. Elite's new facility was never approved.


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175788652

Hey IB or King...sometime would one or both of you post a list of the incidences of our CEO's lying over time?..my memory isn't what it used to be..just have a sense of overwhelming skepticism..I know this is asking a lot because of the number of times this occurred..likely to be a long, time consuming post...but if you can find the time please make the effort...TIA

The latest press release.....really, 2018, nothing
newer ??

All profit when you do not pay back your obligation to the credit card company.....
ie; student loans / ama.....ooops

SequestOx has ALREADY succeeded. HERE is the latest press release fixing the issue:

https://elite.irpass.com/profiles/investor/ResLibraryView.asp?ResLibraryID=86991&GoTopage=3&Category=2163&BzID=2258&t=2180&G=939
Time is running out to prove the tech succeeds and has application.
Correct. It's going to cost millions if not TENS of millions to continue SequestOx.

But guess what, Nasrat stated in a previous CC (can't find the exact quote) that the company who buys us out will take SequestOx and our ART tech to the next level with their DEEP pockets.
We've been told recently multiple times it isn't being pursued due to other priorities.

Time is running out to prove the tech succeeds and has application. We've been told recently multiple times it isn't being pursued due to other priorities. We do now have incremental cash flow being reinvested in worrking capital for the next several months. Can Nasrat pull a 180 on SequestOx and have it add value for the shareholders that it initially attracted many years ago?  That would be a sweet ending. 

Everyone keeps forgetting about adding this to the buyout price...

https://elitepharma.com/technology-overview/

- "Our technology is definitely usable in a lot of things, including something like Pfizer's technology. We have the same technology as they do. So if there was a way for us to make a generic out of their OxyER, then that will be an ANDA Okay. Will we do it in the future when we have money? Of course."

This is a generic company with generic multiples.

Lol...

I'm up 190.15% (and counting) in just 8 months on my $5,000 credit card cash advance.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174584480

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174587429

If a person uses credit card debt to purchase a stock, he or she will need the stock to go up between 18-24% a year to be even on the investment. You don't have to be Warren Buffet to know that is not intelligent investing.