No, .15 triggers Epic to convert their preferred shares.
Obviously Elite management is opposed to losing majority ownership to Epic, thus the vote to increase shares on Oct. 18th.
If the price increases to .15 or above prior to the vote, Epic could be in control of Elite prior to the meetings by converting Preferred shares to common shares.
Thus the importance of .15 whether above or below depending on what you hope will occur
On the CC Jerry stated he did not expect the series E's to be converted.
If what you say is true, and Elite does NOT want the share price to get to .15 then why would they announce Lodrane D now? Why not wait? Can you provide link about automatic conversion of preferred to common based on .15/share price?
That is a speculative number, just FYI.
We are looking into the alliance agreement with ELTP and EPIC and speculating that if a reverse merger would take place then at .15 is the ringer number.
I think that a reverse merger could take place, but am not holding my breath at .15
Just understand that Lodrane makes ELTP profitable, and with less competition, Lodrane will make them even more profitable than before, just mow many stocks with this low of a share price are profitable.
Combine this with what the Insiders know about the recent private filings, and other happenings with the company, and Elite will do just fine on its own, and if someone wants to make a move on Elite on their way up, before the share price gets higher and higher, I am sure they will pay accordingly.
These are very good times for ELTP investors and supporters......