Elite Pharmaceuticals Inc (ELTP)

[Couch]

Then why did the CEO of ELTP say “To date, we have not been profitable and we may never be profitable”?

That's standard boilerplate SEC Quarterly filing for every small biotech/pharma company on the planet. Let's cut the BS and listen to what Elite's CFO actually said shall we.

Our revenues this quarter were almost $1.7 million as compared to less than $700,000 for the prior year. Now no matter how you look at it, revenues are up significantly. They are up by more than 150% as compared to last year, they are up by 90% if you look at the total of the first three quarters of our fiscal year, revenues are even up almost 50% compared to the September quarter and that September quarter was also really strong with regards to revenues. So it’s clear the revenues are heading in the right direction.

I want to say it another way, we spend nothing on R&D we would have had an operating profit. This is the second consecutive quarter, where this holds true. But modest short-term profits aside, product development and specifically the development of a full line of abuse-resistant opioid products is our future.