Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

REPOST RE: YESTERDAY'S S-1

[The] S1 is a new prospectus for the old LPC II $40 million deal. It is required in order to continue to sell the shares to LPC as per the 2014 agreement. The original prospectus registered 108,000,000 shares for this purpose, and they have only placed about 80,000,000 of those shares since the start of the agreement. They need a new prospectus now because shares issued for warrants caused them to reach the total share count that would be outstanding if all the shares in the 2014 prospectus had been issued (668,000,000). They cannot place any more shares to LPC without this new prospectus.

The 63,000,000 shares in the today's prospectus includes ~26,000,000 that are already registered from 2014 and approximately 36,000,000 additional shares, for a new outstanding share count, if all shares are sold, of 793,000,000. This is all pursuant to the LPC II deal from 2014 for $40 million. There is nothing new here, except registration of more shares to cover the old deal. No new deals or placements of stock. None of these shares have yet exchanged hands, nor has any money. Posts that say otherwise are pure hooey.