I had a nice conversation with Dianne today, a

I had a nice conversation with Dianne today, a conversation which re-affirmed my mindset to keep taking the singles and be surprised by the triples/homeruns and not expect them. Obviously she didn't say anything more than we already know, but I'll offer some things I found interesting. Phentermine will launch shortly, again she isn't telling me anything she hasn't told others that have inquired. She reiterated that is was scheduling issue and stated that they had to get another product out first. Naltroxene is also on schedule. I asked about an awareness campaign and I liked her reply. Stated that there's two types of conferences, one put on by a bank/funder that you go to in order to raise funds, or the conferences that you pay to speak at. Neither is really an option at this time, the first would mean heavy dilution and the second is an expense that isn't needed/budgeted at this time. I asked about the old fashioned awareness; send out some pr's to get some major publication interested to do a story. Her response is that as of ELTP is an otcBB stock, and being such, not something the major news sources would consider. She did say that once cash flow positive, as they announced back in 2011, there was a lot of calls from Wall-Street, and she would expect the same this time around. They will PR the patent once official, so the latest we will hear from them is months end. We talked for some length concerning funding options, She explained how the Socius option would be similar to an equity line of credit, take what you need when needed, minimizing dilution. Also, that if they went with somebody other than Socius, it very well could be a dilutive event, but that scenario would only be done to accomplish something major and to ensure funding for the entire project. I asked about Novel, nothing to report there other than I asked for clarification on the funding we provided. We gave them 7 million, then a few years later, they gave us back two, so total net 5 million. She stated there's no way to know if that's still worth 10%, if Novel offered stock for funding or employee's we wouldn't know. I did not get the feeling that it was gonna happen real soon, but the dialogue is there. Again, I would consider this a homerun, and not something that I am betting on or expecting. If/when it happens; it will be a surprise and a bonus. An interesting OPINION of Dianne was that Trellus is out and done. She offered no support for her opinion.

All in all, I would encourage anyone to give her a call. My opinions have not changed, in fact, the conversation has strengthened my resolve to hold and add when possible. I have stated a few times now my mindset is for the company to put out the singles and grow the fundamentals of the business, get cfp, and the options will open up. In my mind Novel sale, bio-studies, partners and phase III aren't expected within a specific timeframe. When/if they happen, it will obviously be a huge. I think some have over-hyped some of these events and set expectations that should not be. That being said, we all expected Phentermine in March because an officer of the company stated that was the expectation, and I think it's safe to say we're all disappointed it didn't. The positive is that they had another product that needed to get out the door, meaning there is a demand for the products we're putting out. Phentermine will launch soon, patent pr by months end, and Naltroxen on schedule. Packaging facility not used for everything we're putting out now, but that is a goal for the future. Second API supplier is in the works, and once FDA approved, will increase our margins with lower costs.

I think that pretty much sums it up.

B_MT says go ELTP