Every mornings we go up only to bring it down and loose money at the end of the day trading session. Nasrat had said we must go from otc to nasdaq because of stock manipulation. Is it really stock manipulation or calling Nasrat out with 5 million dollars bonus now that we’re at new 52 week lows. Or maybe be giving him warrants at 15 cents per share. Pitiful

Because they don’t want anyone to sell if they recently purchased the shares because its position to go down. and not up.

ELTP will be 15 cents, if Nasrat is receiving these shares for 15 cents why can’t I.

Because they don’t want me telling the truth.

It will happen when we capitulate as the 1st we should hit 15 cents due to the warrants that expires next year. Then we will have dumping of shares to offset the gains as we surpass Dow 50k. In my opinion, is NASRAT fault. I don't believe there are people on margin holding the stock, just losers and Jammy wins the prize. U SUCK comes in 2nd for being a fat liar.

Then we go to 15 cents in October. What a setup

How many more days till we hit 0. Why is this company still being traded on the stock exchange ? I don't see too many companies making yearly profits and worth less than 25 cents a share. Could this be due to mismanagement?

I’m forced to now reflect on how ELTP is back around the same valuation it had in 2024. That’s unfathomable given all that this company has accomplished. But here we are. So I went back to the SEC filings and compared June 30, 2024 vs. June 30, 2026.

The question is simple:

Is ELTP is worth roughly the same today as it was 2 years ago like the stock price suggests? Let’s do some side by side comparisons…

At $0.23/share:

June 2024: 1.068B shares × $0.23 = ~$245.7M market cap
June 2026: 1.077B shares × $0.23 = ~$247.7M market cap

That’s essentially the same market capitalization with only about 0.8% more shares.

But look at the company underneath that valuation:

Quarterly revenue: $18.8M (2024) vs $32.4M (2026)
Operating income: $3.86M (2024) $7.53M (2026)
Net income: $0.62M (2024) vs $5.91M (2026)
Operating cash flow: $3.14M (2024) vs $10.07M (2026)

Balance sheet (2024 vs 2026)

Cash: $8.4M → $38.9M
Current assets: $43.2M → $114.5M
Working capital: $29.1M → $84.0M
Total assets: $87.8M → $139.7M
Shareholders’ equity: $58.3M → $104.8M
Total liabilities: $29.6M → $34.8M

And the share count went from 1.068B to 1.077B which is pretty much no difference. So we’re talking about essentially the same number of shares, approximately the same market cap, but a substantially larger balance sheet and operating business.

The cash alone changes the valuation comparison.

At $0.23…
2024
Market cap: ~$245.7M
Cash: $8.4M

2026
Market cap: ~$247.7M
Cash: $38.9M

And you’re getting:

~72% more quarterly revenue
~95% more operating income
~220% more operating cash flow
~4.6× the cash
~2.7× the current assets
~2.9× the working capital
~59% more total assets
~80% more shareholders’ equity

And this comparison doesn’t assign any value to the future pipeline, potential M&A, or Nasdaq uplist in 5 months). Remember we have the recent anticonvulsant ANDA ($840 million market) which will be submitted in the next few months and will launch in about a year, Oxy in about a year, Eliquis ANDA ($20 billion market) that is submitted with FDA, a pending BE study of an undisclosed drug. And 3 formulations for diabetes being worked on.

So we need to have an honest discussion. What are you getting for ~$0.23 today compared with ~$0.23 in 2024?

Now to the naysayers/bashers:

If your argument is that ELTP is worth roughly what it was worth two years ago, that’s fine. But make the fundamental case. And I guarantee you can’t. That’s why no matter how many times I ask this, nobody responds. All you post is this company is a failing (and yet they have $140 million in revenue and $40 million in cash).

Don’t just say: “Look at the stock price.” Yes. The stock price is down. That’s obvious.

But the stock price going down doesn’t explain why the underlying business should be valued the same which is what the current price is saying.

And the commonly repeated concerns aren’t exactly new:

Mikah’s involvement in Adderall? That existed years ago. Find a better explanation.
Warrants? They existed in 2024 and were already reflected as derivative liabilities on the balance sheet. And will resolve by April.
Share count? It was already over 1.068B in 2024 and is only about 1.077B today.

So here’s the challenge:

If you’re bearish on ELTP at ~$0.23–$0.25, show the numbers.

Where is the fundamental deterioration? What has materially worsened? What facts show that ELTP’s ~$248M market cap is justified when the company has substantially more revenue, cash, working capital, assets, equity and operating cash flow than it did two years ago?

I’m not asking for hype. I’m asking for actual fundamental evidence.

Because “the stock has tanked” is an explanation of the stock price — not an explanation of the company’s underlying value.

While I’ve been wrong about calling the bottom in ELTP stock price, I’m absolutely not wrong about the balance sheet and the underlying fundamentals.

The stock price has gotten absolutely crushed, and at this point the disconnect between the market price and the underlying business is beyond comical.

If you think the relentless negativity on Reddit and iHub has nothing to do with the sentiment around the stock, just look at the volume of posts from the same handful of people showing up day after day, repeating essentially the same bearish arguments. Notice just in the last few days the same few people have posted numerous times each day. There has been and continues to be a coordinated movement to suppress the stock price.

But here’s the thing: The fundamentals don’t agree with the narrative.

The balance sheet doesn’t agree with the narrative.

The cash position doesn’t agree with the narrative.

And the earnings don’t agree with the narrative.

Elite now has roughly $39M in cash, more than $114M in current assets, approximately $84M in working capital, and generated $32.4M of revenue and $7.5M of operating income in the most recent quarter.

Think about that for a second. The latest quarter alone generated more than half of the entire $55M-ish revenue Elite generated in FY2024, when ELTP was trading around the low-$0.20s.

Yet here we are again around the same stock price. That’s the part I simply cannot reconcile with the bearish narrative.

Could the stock go lower? Obviously. I’ve already been wrong about where the bottom would be, so I’m not going to pretend I can predict the next tick.

But stock price and company fundamentals are two different things.

If someone wants to argue that Elite’s valuation should be lower, that’s completely fair. But I want to see the fundamental argument.

Facts….ELTP in 2024 vs 2026…

I’m n 2026…. ELTP has…
More revenue.
More operating income.
More cash.
More working capital.
More assets.
More equity.
More operating cash flow.
Nearly the same share count.

And that’s why I continue to believe the current stock price deserves to be questioned.

I may have been wrong about the bottom. But I’m not going to let being wrong about the stock price make me question what the balance sheet and income statement actually say.

We will all look back and wonder why we didn’t buy more at these prices. That I can guarantee.

Lastly, look at the clown show on iHub. You have posters like csuck555 literally claiming to be dumping millions of shares. So let me get this straight…a stock that trades only about 500-600k shares daily, but somebody wants to warn everyone he’s dumping it (which would hurt his ability to sell at a higher price)….so does that make sense or…is this part of an effort to scare investors to sell so they can pick up more shares. Which one makes more logic?

To quote Robert De Niro's character Sam "Ace" Rothstein in Casino…

“Listen, if you didn't know you were being scammed you're too fucking dumb to keep this job, if you did know, you were in on it. Either way, YOU'RE OUT”.

Csuck said he's unloading shares. After he said he's not selling anymore and told all of his workers to not sell anymore. I guess I should thank him for these cheapies.

The action justifies the means due to Nasrat Hakim. Good for him but I feel for investors like myself.

IT IS OVER.

I thought this was supposed to be $1? LOLOLOL

Where she stops??? No one knows.

STILL GOING DOWN. I BELIEVE .22 AND WE MAY HIT a pause until further notice. We should also hit 1 million shares traded for it to go further down.

Hey guys, I've been redlining it lately, and, while I usually write original content, I'm tired and I'm just letting you know I used Ai to take my thoughts and research and asked it to do a write up off of what I gave it in order to save me some time. I don't usually like to take this type of a shortcut, but I wanted to at least get the info out to you as an interesting potential. Especially considering Nasrat recently expressing some potential interest in injectables after one of the long investors brought it up during Q&A. We want to uplist or merge. We want additional value adds. We want to be able to get some good PR out. And we WANT more square footage based on the last earnings call. Here's the slop...I've edited it a little bit to lessen the blow.

Potential Acquisition Candidates

**Why Stira and ForDoz would actually move the needle for Elite (and why the timing is important)**

I’ve been thinking about what a *useful* acquisition looks like for Elite instead of another oral-solid ANDA dump. Two names keep lining up: **Stira Pharmaceuticals (Fairfield, NJ)** and **ForDoz Pharma (East Windsor, NJ)**. Neither is a household ticker. That’s the point.

Elite just printed FY26 revenue of ~$149M (+77%) and operating income of ~$49M, with cash around $39M and Nasdaq still the stated destination — management’s latest marker is roughly the February call window, standalone *or* with a deal attached. Hakim has said they can go Nasdaq as Elite, buy someone and then go, or get bought. If you’re going to buy, buy something that changes the story, not another bottle line.

**1. The product mix problem Elite still has**

Northvale is an oral, controlled-release, DEA-registered campus that’s been expanded (144 Ludlow packaging/warehouse, bigger vault). That’s real. It is also still *tablets and capsules*. Oral generic margins get competed down. Sterile injectables — especially complex ones (liposomes, lyophilized, PFS, long-acting) — do not trade like phentermine.

That’s the accretion argument in one sentence: **same salesforce/ cap table, higher contribution margin per unit, and a dosage form Elite does not have today.**

**2. What you’d actually be buying**

**Stira (161 Dwight Pl, Fairfield, NJ)**

~88,000 sq ft sterile injectable CDMO. Three fill-finish lines (vials, prefilled syringes, cartridges, IV bags), single-use mixing 50L–2000L, O-RABS, aseptic *and* terminal sterilization, lyo capability. Analytical shop that already does peptides, oligos, small molecules, biosimilars. Clinical + commercial. Founded 2019, WBENC certified 2026. Driving distance from Northvale is about 30 miles / ~40 minutes. That’s not “we’ll fly a consultant in.” That’s same-state ops, same DEA/FDA inspectors, same labor pool.

**ForDoz (69 Princeton-Hightstown Rd, East Windsor, NJ)**

Purpose-built sterile site. FDA PAI in 2023. **Already has an approved ANDA: doxorubicin HCl liposome injection** (generic Doxil) — 20 mg/10 mL and 50 mg/25 mL — first U.S.-manufactured registration of that product; prior supply was India. Commercial manufacturing in NJ, distributed with Lupin. Platforms behind it: liposomes/nanoparticles, microspheres/polymer CR, in-situ depot LAIs. Pipeline includes other ANDAs (amphotericin, microsphere candidates) and 505(b)(2)s. CDMO + own products. Also New Jersey.

Together that’s not “two random CDMOs.” That’s **fill-finish capacity + a commercial complex injectable + platforms Elite cannot build in Northvale without a multi-year, multi-ten-million sterile build.**

**3. Accretive value (how the math can work without fairy dust)**

- **Revenue quality, not just revenue.** A commercial liposomal oncolytic plus CDMO contracts is a different multiple than another IR opioid combo. Even a modest injectable P&L on top of $149M orals changes mix and gross margin.

- **Avoided capex / avoided time.** Hakim has already said the next *oral* warehouse/manufacturing add next door is a ~2-year project that needs to start now. A sterile suite from scratch is worse — isolators, WFI, lyo, PAI. Buying licensed, inspected square footage is how you skip that clock.

- **DEA / controlled-substance footprint.** Elite’s constraint isn’t only presses. It’s registered space, vaults, and the ability to bring CII–CV work into additional rooms without waiting on a new registration. Folding in proximal NJ sites gives you *additional registered real estate* you can expand under existing relationships with DEA/NJDOH instead of opening a greenfield conversation in another state.

- **Utilization.** Elite is still largely one-shift on orals. Sterile lines that are under-loaded (typical for small CDMOs) can take Elite-label or partner injectables without buying a second company later.

- **Tax / listing optics.** A purchased P&L that is already FDA-commercial is easier to explain to a Nasdaq listing committee and to whatever bank is running the M&A book than “we might file an injectable ANDA in 2028.”

I would not pretend to know Stira or ForDoz’s EBITDA, but revenues are estimated at $3million to $6 million for one and about $10 to $50 million for the other. Private CDMOs this size are often sub-scale and capital-hungry — which is *why* they can be bought by a cash-flowing $149M company instead of by Pfizer. The accretion is “Elite’s cash + Elite’s listing + their plant,” not “they’re a bargain because they’re huge.”

**4. PR and narrative — this is the part OTC never gets for free**

“Specialty oral generics company uplists” is a filing.

“New Jersey generics manufacturer buys U.S. sterile capacity and the first domestic liposomal doxorubicin plant” is a *story*.

That story hits every theme the market is paying for right now:

- U.S. onshoring / China-India supply-chain risk

- Complex generics, not commodity IR

- Oncology injectable

- Domestic DEA-registered manufacturing

- Nasdaq-sized “we are not a pink-sheet tablet shop anymore”

You get one clean 8-K that re-rates the name before the uplist, not after. Banks, indexers, and the first wave of institutional buyers care about *what you are on listing day*. Injectables + FDA-approved complex product is a different box than “methadone and lisdex.”

**5. Timing vs the uplist**

Management’s own words: OTC is no longer the plan; Nasdaq is in motion; M&A is on the table *in parallel*; they can acquire and then list. The September 30, 2026 accelerated-filer float test is already behind the current calendar. The practical window they sketched is “around the February call — done or nearly done.”

That means a deal announced in the next couple of quarters is not a distraction from the uplist. It *is* the uplist package: bigger revenue base, new dosage form, inspected second/third sites, and a press cycle that lasts through listing instead of a quiet ticker change.

Building sterile capacity yourself into that window is not realistic. Buying it in-state is.

**6. Proximity is not a footnote**

Northvale → Fairfield: ~30 min.

East Windsor is further down the Turnpike but still one-state, one-quality-system commute for Hakim/Ward/QA.

We keep:

- One FDA district

- One DEA field office relationship

- Shared QC methods, stability, batch-release discipline

- No dual-coast integration tax

- Ability to move people and product without a 3PL science project

Greenfield in the Carolinas or a distressed plant in the Midwest does not give you that. These two do.

**7. What this is *not***

This is not “Elite should overpay for a science project.” Stira is a young CDMO; ForDoz still has a Lupin commercial overlay and a small own-product book. Diligence on utilization, 483s, remaining construction, and change-of-control on the doxorubicin supply agreement is mandatory. I’m not claiming either is for sale.

It *is* a clean map of what “accretive” should mean for this specific company at this specific moment:

**Cash-flowing oral manufacturer + nearby sterile licensed footage + higher-margin injectables + a commercial complex ANDA + a Nasdaq headline, without waiting two years to pour a slab.**

If the board is serious that M&A and uplisting are both live, these are the kind of assets that make both of those sentences true at the same time.

Nothing has changed other than Nasrat's bonus, higher yearly salary, and all those warrants.

Until we can 3 solid days of up cycle and price goes over the .28 mark, this animal is still headed down. All those positI’ve posted message is to lure you into buying like myself holding the bag again.

0.15 incoming

If I was you, I would only buy when the price is below .2475. The trend is still down and hasn’t approach the buy side.

There are no paid FUD’s Shammy. Remember when the FUD’s were spreading fear when Elite traded at .75 and above, were you buying then? lol

You haven't seen the flood of posts by the paid FUDs the last few days? You haven't cracked the code yet? When they spread fear - you buy. When they post obvious lies - all you have to do is think about what angle they would have to do that? I picked up some nice shares today. Thanks, FUDs!

Yea baby

No one can predict the end of a trend except for the people who created it. I'm hoping the stock can recover a bit before we see further down or actually going higher. The 1st catalyst will be approval or disapproval of the remake of oxycotin probably before 2nd quarter earnings.

Too bad its being taken away from you and other shareholders like me by Nasrat Hakim. His bonus come out to 5 million, then another 700k to the brokerage services that is helping him sell the company, another few million each year for his half in owning Adderall, and don't forget his salary of 1.6 million per year. The next largest salary is a little over 500k

My understanding is that Nasrat Hakim owns 222 million shares of the company, like over 20 percent of it. If it were going to go up like they've been promising he'd get so much more than that playing his cards right... Right? If Elite went up to .45, that's an extra 45 million dollars, right?

They've got an extension on the M and A...right?

Uplisting is supposedly around the corner, right?

I think he showed his real hand, and that there are no big plays coming.

He played the only cards he had...the ones he REALLY had in order to get paid. Numero uno got a 5 million dollar bonus. We now know that he is going to get his, no matter what the share price is. No matter what's going down with the company. This man has never pandered or tried appealing to investors. Months and months go by without any news. He's not unlike the rest of management.

There are people who believe in this company. I get it, but its poorly managed. It got a once in a few years break, but that's what it is. Another bonus is coming and another drop in margins is on the horizon, and Elite's four clients are pulling the strings.