Form SC 13D ELITE PHARMACEUTICALS Filed by: MORRIS I WISTAR III 05/11 02:26 PM
Filed on: May 11, 2011
He has created huge trust fund accounts with Elite stock. If that does not tell you where his thinking is then you are just a blind paid basher. He is on the BOD of another pharma company but chose to invest heavily in Elite. I am guessing big news coming out very soon now and the start of the real climb to the top for Elite.
Hey Dummas, we all know you sold are probably have a hold on your funds or something but read this:
Although convertible preferred shares can be exchanged for common stock, your new common shares cannot be converted back into preferred stock. For that reason, you should be reasonably certain that the company will continue to grow profits and stay in business as a going concern. If not, you should not convert your preferred shares into common stock, and may even consider liquidating the initial principal investment....