{"id":4586,"date":"2014-05-16T14:12:27","date_gmt":"2014-05-16T14:12:27","guid":{"rendered":"\/?p=4586"},"modified":"2014-05-16T14:12:37","modified_gmt":"2014-05-16T14:12:37","slug":"elite-pharmaceuticals-inc-otcbbeltp-fails-to-submit-report","status":"publish","type":"post","link":"\/articles\/elite-pharmaceuticals-inc-otcbbeltp-fails-to-submit-report\/","title":{"rendered":"Elite Pharmaceuticals Inc. (OTCBB:ELTP) Fails To Submit Report"},"content":{"rendered":"\n<p style=\"margin-bottom: 0in;\"><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/ETLP.png\" border=\"0\" width=\"400\" height=\"178\" \/>Elite Pharmaceuticals Inc. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a>) stumbled 7.53% yesterday, when it became clear that the 10-Q that was due on May 15 was nowhere to be seen.<\/p>\n<p style=\"margin-bottom: 0in;\">For a few sessions it looked like things were going well &#8211; the company had almost recovered from its most recent red run. This was just one of the reasons why the said 10-Q was so highly anticipated &ndash; a solid balance sheet could have launched the company up the charts. The company&#8217;s latest report, for the quarter ended Dec 31, showed investors some disconcerting figures, but gave some hope that the situation may change for the better: <\/p>\n<ul>\n<li>Cash &#8211; $1 million<\/li>\n<li>Total Current Liabilities &ndash; $12.5 million<\/li>\n<li>Total Revenues &#8211; $1.6 million<\/li>\n<li>Net loss &#8211; $1 million<\/li>\n<\/ul>\n<p>True, the company was deeply indebted, but the fact that it is making significant revenues and has over a million dollars in cash at its disposal did add to its credibility. A good report on recent activities would have helped to convince investors that the company is moving in the right direction and may indeed be worth considering. Unfortunately for <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> enthusiasts, the lack of such a filing convinced many that the very opposite is true right now.<\/p>\n<p style=\"margin-bottom: 0in;\"><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/741ELTP_LOGO.png\" border=\"0\" width=\"130\" height=\"83\" \/>Moreover, if the company doesn&#8217;t make a filing on the quarter ended March 31 it will be demoted from its current OTCQB status to PINK. Such a demotion is likely to affect more than just prestige &ndash; it could deal a serious blow to the company&#8217;s market standing. Investors should definitely keep this in mind when they decide whether or not to commit to <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> stock.<\/p>\n<p style=\"margin-bottom: 0in;\">Another company that took a beating yesterday is Solanbridge Group Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=SLNX\">SLNX<\/a>), who lost about 7% of its market value over the span of one session.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elite Pharmaceuticals Inc. (OTCBB:ELTP) stumbled 7.53% yesterday, when it became clear that the 10-Q that was due on May 15 was nowhere to be seen. For a few sessions it looked like things were&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[797,39],"class_list":["post-4586","post","type-post","status-publish","format-standard","hentry","category-news","tag-eltp","tag-slnx"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4586"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4586\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}