the original agreement is most curious. you see, it all started six years ago when novel gave elite $2 million in exchange for over 900k shares -- which elite promptly/immediately returned to novel in the form of an investment under the terms of the agreement.
hmm-mm. sounds rather circular doesn't it? i mean, novel gives elite $2 million, and elite gives it back. so, no money really changed hands, and everybody is back at square one, right? well not exactly, because novel got over 900k shares out of the deal, which represented a 5% increase in the outstanding shares at the time -- one of elite's first examples of 'dilution without solution' since it did nothing to raise money for them.
oh well, just some actual factual history to chew on while trying to figure out what elite's novel investment might be worth. and keep in mind, what is on the books is an accounting entry that would have no bearing whatsoever on what an informed buyer might be willing to pay.
consider that the original value of those shares was $2 million and is now less than $100k might give some indication of current value.
anybody have any basis? want to talk about deals between these close partners, and all the support they've been giving each other over the years? i mean, where's the synergy? are these boys really on the same team and, if so, are elite's shareholders on the other team?
What's the matter Meifuk......you've been so good at cutting and pasting from SEC filings....and yet you "forget" to cut and paste verification of the #$%$ you are continually spewing in this post. Notice the lack of question mark. Big Surprise........yawn
No worries, Mei. Obamacare (Affordable Healthcare Act) to the rescue, and an aging "Baby Boom" generation will see a surge in generic drugs in terms of extended-release pain medication in the abuse resistant form. Imagine with Elites new, FDA-approved manufacturing facilities what this will do to earnings and revenues, which translates to higher price per share. Cheers!