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Elite Pharmaceuticals, Inc. Message Board

  • meifud meifud Apr 23, 2013 11:31 AM Flag

    ceo says one thing to the SEC, and another in the pr that pumpers rely upon

    "will be used for general corporate purposes and working capital requirements."

    which includes paying off the seo's short term bridge loans to himself at 10% interest -- but why doesn't the ceo highlight how the Linclun money is going to be used to advance their opioids? could it be because hardly a penny will be available for that because elite is having enough difficulty just paying its bills, and that to imply to the SEC that the money was going for drug development would constitute a misleading and deceptive statement?

 
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