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Elite Pharmaceuticals, Inc. Message Board

  • meifud meifud Nov 28, 2012 10:51 AM Flag

    what might the novel investment be worth

    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.

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