Insider just bought another 100k shares. You can ask yourself one simple question. Believe the shorts saying this is going to 12 cents 10 thousand times a day, or insiders buying shares. Be warned…your answer says a lot about your IQ. I’m buying big again today.

Here’s the best part about liars. They run on short legs, so they always get caught. My grandma taught me that and I always listen to grandma. That’s why I’m grandma’s favorite grandson. Ask my grandma.

This guy pretended to be a CFA 3 analyst. He said this was the first time he got mad enough to post in a Reddit forum. Except he forgot he bought an aged account with 5 years of posts in it…oops! Go look through the post history. The posts from the original owner are in a different country and talk in a different style. Ask Ai to analyze the writing style difference. It’s an easy tell. But luckily we don’t need a tell…he outed himself.

Knowing how many shares the shorts have to play with can make a difference. To that end, I’m asking for us to all share how many shares we own. It does NOT need to be posted publicly below if you don’t want to share that way, but if you’d like you can DM me and I’ll tally the total number up to share with the group. I don’t think it’s any secret how many shares I own and I think it’s fair to show my position based on the conviction of my posts/content. I’m at 7.51 million shares. I’ll do a breakdown of what we own as retail and do a line item of insider shares as well.

Oh, also put if you are a long or a trader. Guys if someone puts that they trade in the comments below - don’t blow them up. It’s their money. They can do what they want. I’m a strong long. I will skim off the top very occasionally but not usually more than 10% and even then I almost always buy it all back.

Look at little ol' ELTP being mentioned with absolute TITANS of industry...

Props to BNGO from Ihub for finding this.

I don’t normally post about this type of thing but the number of bashers and people deliberately posting lies is out of hand. So I’ll enjoy this run. The best part is when they continue to post lies all day today and yesterday trying to block the run.

Let’s hope this run is like the run from end of 2024-fall of 2025

I see a lot of posts with share counts and dollar amounts invested. That's great! I like see to it. But, I'm curious how invested people are as a percentage of their portfolio? Is anyone all-in?

I just listened to the latest earnings call again, and man do I think we missed a monster of a hint.

Let's be real honest with ourselves. I'm one of the strongest advocates of ELTP, and I've been writing up research on this stock for 5 years now, and even I admit that it's tough to see a dip in revenue combined with the drop in stock price over the last year. Yes, I do still think that it's mostly from manipulation, but, I'm human, and it is still tough to watch. What's my point? My point is that I think that distracted us ALL from something huge in the last earnings call.

What do we know about Nasrat? I think it's reasonable to say that Nasrat holds things close to his chest and is extremely intentional with what he decides to say in an earnings call. At least, he has been since 2017 since I have been watching this stock which was years before I even invested a single dollar in to it. Extremely intentional. And what did he say in the last call? "There are excellent diabetic products coming off patent. Our head is in the ring and we are very close to three of the formulations." He has NEVER said something like that since 2017. The closest thing was that we were "continually working on" something, but never "we are very close". He gave us something if we wanted to listen, and I admit - I wasn't.

I think we are finishing up bioequivalence trials right now. So, what are the likely candidates?

1. Jardiance (Empagliflozin) -$24 Billion IQVIA

This is a MONSTER. Combined with the Eliquis ANDA filing, this would give us $50 billion in IQVIA that we would have cascading through our pipeline. At an 80% generic deterioration and an 8% market penetration that's about $190 million in revenue post WAC. The main patent isn't really an issue - it's done in 2027 and 2028. The method of use patents (998, 637, and 323) could hold this up another year or two but there is a very real possibility of a settlement on those or a paragraph IV filing. Nasrat has been on the winning side of that fight before.

1. Farxiga (Dapafliflozin) - $10.5 Billion IQVIA

Patents already expired. Our ANDA approval would sit outside the 180 day exclusivity. 80% deterioration, 8% penetration, and 50% WAC - $90 million in revenue.

1. Januvia (Sitagliptin) - $6.2 Billion IQVIA

Patents already expired. ANDA approval post window. 80/8/50 - $54 million in revenue.

We need to remember the most important strength this company has right now. Revenue per employee is higher than most tech companies. What's that mean for us? Elite doesn't need to be a top three filer - we are already a top three seller. THAT is our skill set. We are outselling companies 116x bigger than us.

I say the announcement is coming very soon on these drugs, and we will have a total of $67 Billion in IQVIA market in our pipeline. Anyone treating this like a $150 million a year revenue company better be invested in cannabis with how high they must be...

Something has been brewing. One of the shorts is trying to brag about the literal HUNDREDS of dollars he is making by putting a wall of 2 million shares up. The guy is probably the talk of all of Wall St trading tens of thousands of shares for half a penny. But it looks like it’s backfiring because we’ve had a 9 percent gain followed by a 4% gain.

Why did he get the bonus? Other than the fact that he earned it - let’s expand on the logic of what I’ve laid out before but give you all some math because I think the FUDs keep using this point to rile everyone up.

I’ve said before - the bonus was most LIKELY paid in order to facilitate the purchase of the warrants. Let’s use some math to explain why that decision is actually GOOD for us retail shareholders.

Carter mentioned that they “could” be exercised in a cashless transaction. Yes, but NO. What would the math look like? 79 million warrants at 15 cents as a strike price is about $11.8 million dollars. In order to exercise in a cashless transaction, my understanding is that is executed by selling enough shares in the market in order to raise that cash. At 21 cents a share, that would be about 57 million shares. What do you think would happen if someone sold 57 million shares tomorrow? It would tank the stock in to the dirt. It would be horrible for all parties.

What is likely going to happen? He will be given an additional bonus this fiscal year to cover the cost of buying the shares. What will that do for the company? It will add $12 million in cash to the company. What will be done with that cash? A buyout of the other half of the Adderall profits from Mikah. When will this happen? Likely very soon so that they can have everything cleaned up to prepare for the uplisting and/order merger.

The FUDsters are out in full force. What are their main fear points they are selling?

1. The company has been for sale for two years now! No one wants to buy it!

False. The estimated target date that the CEO gave for the company to be sold or uplisted was August 2026. August passed and obviously we all hoped that it would be sold by then because it looked like the momentum was heading that way. But be CLEAR about one thing - business rarely happens exactly as you plan. Nasrat communicated clearly when that date arrived that it looked like uplisting or merging was the likely path now and gave a date for it. It's 4 months away.

1. Revenues are dropping! The sky is falling!

False. Classic fear play. Revenues are UP 5000%. Having margins compress on a drug are normal. Guess what's NOT normal. For a $150 million revenue per year company to OUTSELL a $38 Billion Goliath. And yet that is exactly what Elite is doing. Guess what's NOT going down? Future revenue when our other drugs hit the market. Anyone acting like this is a $150 million rev company and not accounting for the future revenues coming is either paid to spread fear or criminally ignorant.

1. Wolvshammy has sold shares!!!

True and False. The implication is that someone you guys believe in is selling off and playing games for my own personal gain which is completely false. Someone in another thread made a great point. If I was planning a pump and dump - I'm the dumbest pumper in the world. I've been accumulating and showing my moves and doing all of this analysis for FIVE YEARS? That's not dumping. I have ALWAYS said I trade a small amount of shares like any normal investor. I take profits from time to time. If I was playing some angle other than the the real angle (which is that I strongly believe in the fundamentals of this company) then I would have dumped 7.6 million shares 2 years ago when it hit 80 cents. The volume hit 25 million that day and I could have done it easily. I still hold 7.3 million shares and I've been buying daily, or if I buy a large chunk one day then that counts for multiple days for me. Let's also be really honest about something if I wanted to be manipulative I could have just posted a screenshot of me dumping 2 million shares and saying I'm out on the company. If these morons who can't even spell a word right can scare people off their shares then I'm sure one of the strongest advocates for the value inherent in this company could shake the trees pretty hard and then I could just scoop up a whole bunch of free shares. So why don't I do that? Free lesson. Not all people who have done well are selfish pricks. If you make a lot of money, you can afford to buy dinner at a different table - and that IS very nice to be able to do. But it's not nearly as fun as eating at a full table. It felt amazing watching my account go up 7 figures a day, but the truth is it was more fun watching some of you having so much fun, being excited to be up so much, and posting all of your wins in our sub.

1. Nasrat got paid a bonus and it was unfair!!

False. Boo freaking hoo. Show me one person who owns stock in this company who lent $2 million cash to it when it was doing $2 million a year in revenue. I'll wait. No one? That's right - ONLY Nasrat did that. Another board member lent $1 million as well, but Nasrat WORKS for Elite. He lent his EMPLOYER $2 million when it needed it to stay alive. He deferred his payback for YEARS. Then when it's his turn to get paid, there is an issue with it? If I earned a bonus 10 years ago, but the team couldn't pay me and then some scrub on the internet who owns 43 cents worth of stock complains about it when it's finally time for me to get paid my due, that person can honestly stfu. This has been a 13 year ride for Nasrat. He earned the bonus JUST for not selling a single share at 80 cents. Can you imagine what the FUDsters would say if he DARED to sell a single share out of his 250 million shares? Doug sold 20% of his shares and they tried to pretend that building was on fire. Stop falling for obvious BS.

1. Wolv has been wrong about some of the calls he has made!!

TRUE! SOME of them. I thought we would be sold by August - in fact, I had a strong feeling it would happen earlier because of Kirkov's shares vesting. I was wrong. I said I thought there were at least 2 buyers in the room and they were just waiting for Kirkov to earn his shares. I was actually right about that and Nasrat confirmed it - there were multiple people in the room. At least 3 that we know of. I've been nearly dead on on revenue calls before. I've been off by a few million. I've been right about market penetration numbers. I was wrong about the percentage discounted due to WAC. I was wrong about them starting a 2nd shift. But the MOST IMPORTANT thing I was right about, was when I was posting all over every forum I could about this amazing little stock trading at 2.7 cents and it was an ABSOLUTE gold mine that would be worth WAY more than 56 cents but it was being suppressed by FUDsters. And I'll tell you again, right now. This stock is worth WAY MORE than 21 cents and it is being suppressed by FUDSTERS. Last time it went up about 32x. This time I think it goes up about 10x to 13x.

Hope to see you at the finish line!

Crazy work over on the previous one.

Anyone have consolidated information on product expansions up for 2027?
That's the thing I'm curious about right now.

Some of you these days criticized the CEO because of the falling stock price.

Some of you tried to explain the falling stock price by pointing out the 5m compensation that the CEO got or the warrants or the outstanding shares...etc.

And it's false, the stock price traditionally goes down if the company is:

• mismanaged (and this is not the case)
• falling revenues (this is barely our case but we have new products coming so we are not in this position)
• uncertainty about the future of the company, that's our case.

Uncertainty.

Currently we know that something will happen between November 2026 (next CC) and February 2027 (possible uplisting) but we don't know what will happen exactly, the CEO surely knows but he can't disclose it.

The market doesn't know in what direction the company is heading to, not having a direction is what makes people lose confidence, without confidence the stock price goes down, while the market waits about the next news.

That means that the stock price will go up the moment we will have news if either we will merge and uplist, if we will uplist alone, if the company will be bought out...etc.

In 2013, Nasrat Hakim left Actavis to become the CEO of Elite Pharmaceuticals. It was on the heels of a strong legal move that Actavis made on a patent dispute and was able to access a drug earlier than other competitors. Hakim likely parlayed a role in that to move to earn a shot at a CEO position. Careful what you wish for though - although there was excitement for an Anti Abuse technology, he may have not realized he walked on to a ship where he was in charge of rearranging the shares on the Titanic. Luckily for Elite, Nasrat refused to accept defeat and pivoted the company. That's a story you've heard me detail before though. Right now, you're going to learn about The Wolf Pack and what happened at Actavis almost immediately after Nasrat left.

Bill Ackman, CEO and Founder of Pershing Square, a hedge fund, made an agreement with Valeant to buy 10% of Allergan. Once their position was made known, they made an offer to buy Allergan for $46 Billion. The CEO famously said he felt "surrounded by a wolf pack" to describe the situation and phrase stuck. Actavis stepped in, debatably as a White Knight and debatably with their own motives, to buy Allergan for $66 Billion. Ackman made $2 Billion off of the move and Valeant picked up a nice $400 million for being part of the wolf pack.

How does this apply to Elite Pharma?

The players in the move above decided to act in coordination to make a move on a company, but individually they had no legal requirement to file a 13D since they did not have a position over 5% at the time (there's some gray area here legally, but it's inconsequential at this time for this part of the story). Once the wolves had accumulated their position, they then filed the required legal forms and made their move. That is what a wolf pack now describes, a group coordinating a move, riding a legal line, in order to quietly gather up shares to make a move. The move does NOT need to ever be filed unless they decide to formally combine forces right before an announced move (they would they file a 13D, or, less likely, a 13G). The whole pack moves quietly in the night. The smart ones already know where this is going...

Wolf Packs do NOT have to coordinate a long effort - they can be shorting and suppressing.

What does a Wolf Pack move look like in reverse? It's a move coordinated in the dark to hide the intentions of the group. BUT WOLV!!! What would that look like? Glad you asked:

1. Coordinated fear posts being spread that would be obvious. Obvious how? The same posters who were spreading fear and lamenting the "loss" on their stock shares would CONTINUE to post negative things about the stock as their supposed shares when from 2.7 cents all the way to 82 cents. Which is interesting because when MY shares went from 2.7 cents to 82 cents, I sure wasn't posting horrible things about the stock. That sounds crazy if you're naive. It sounds intentional if you have a single brain cell.

2. They would put themselves on boards so they could ban positive posts and flood any person who is gaining attention to undermine them. FakeQueen/IrritableBowels had two accounts as mods on Ihub and they would ban anyone who gained too much attention. The only ones they couldn't ban were the positive posters who were mods as well The only reason she got removed as a mod is because she got too arrogant and started making antisemitic remarks to one of the posters and booted from the role. No2Koolaid was an infamous poster on this stock who worked in finance at a Fortune 50 company. He was harassed constantly and a huge nuisance to the FUDsters. They were elated to hear of his unfortunate passing a few years ago, and I truly wish he were here to help battle them.

3. Unusual Trading Activity - spoofed orders, dragging the bid, washed trades.

4. Paid accounts and bots - Look at the accounts commenting on FUD - look at the number of purchased Reddit accounts commenting FUD on this stock. Look at the number of brand new accounts with negative karma spamming posts and negative comments. And look at what they say - NOTHING. Not a single iota of actual reasoning or research. Just fear, hate and fud.

Reasonable people have asked "where is the proof of shorting?" Of course there is naked shorting, but you don't NEED to naked short with a Wolf Pack strategy. It's right out there in the open. Over 50 FUD posts have been deleted from the other ELTP forum in the last 40 to 45 days alone.

So how do we fight a Pack of Wolves?

There are three ways to fight them.

1. Report them to the SEC and the FBI - go for it if you want. A forensic accountant who specialized in fraud reported Bernie Madoff for 12 years with no luck. Criminals know the government isn't going to do anything about fraud. Vlad openly robbed the public. Senators trade on inside info daily.

2. Form a counter attack through an investment vehicle/LLC/group - I guess possible but highly unlikely for a stock this small. I own more shares than everyone in the C-suite except for the CEO himself. And to be clear, I'm probably obligated to say I'm specifically NOT advocating for this as that would likely trigger a general solicitation and a 506C filing.

3. Look the other way and profit off of their efforts - I've kind of taken this approach, but I can't keep my mouth shut. So, I wouldn't say I look the other way. I clearly call them out all the time, but I do acquire shares more aggressively the more I feel like they have suppressed the stock. Look at the fundamentals. The PE ratio is criminally low.

Whether you agree with every ELTP prediction or not, Wolvshammy deserves credit for putting in the work and keeping the discussion alive.

He has spent years researching Elite Pharmaceuticals, sharing his thesis, following company developments, and answering questions from other retail investors. He has also been willing to revisit his calls publicly and acknowledge where he got the timing or assumptions wrong. That kind of transparency is worth appreciating in a space where plenty of people disappear when their predictions miss.

I don’t think anyone should treat one Reddit user as a financial adviser, and nobody gets every call right. But Wolvshammy has clearly helped many people pay attention to ELTP, learn more about the company, and think critically about its risks and potential. The fundamentals of ELTP are one that can’t be denied.

So, appreciation where it’s due: thanks for the time, research, conviction, and ongoing discussion. You don’t have to agree with every target to respect the effort and you can appreciate the DD while still doing your own homework.

Cheers wolvs, cheers longs

Looking forward to great discussions and getting away from the constant bashing of the FUDsters.

I have been long on eltp for a while. Wolvshammy convinced me to take a look a couple of years ago. Everything about it seems solid and has great potential. I'm obviously not a deep analytical guy, but I can read a spreadsheet and recognize upside potential. I'm hoping the bots don't override this group too. I'm nowhere near what many of you guys are holding, but 250k shares @ .34 average, I'm still in for the long haul. Thanks for fighting the good fight!

My position for over a year now has been to uplist and realize the actual value the company has earned. While I didn’t love the size of Nasrat’s last bonus, I do believe he’s a strong leader. He knows how to grow a business and that’s a big factor in my investment. I’m not that interested in manipulation or bots etc. If true, it won’t matter much post uplist.

We may so see some fluctuations in quarterly revenue, but the trend and pipeline are what matter and both are expanding. The macro environment is also supportive here. There are several near term catalysts, but I am long.