Elite Pharmaceuticals Inc (ELTP)

[Doctor Detroit]

What's a reasonable market cap in your estimation? Even with conservative numbers, a market cap in excess of a billion seems justified.

$12 billion market.

Capture 2.5% of market

$300 million in sales

50% royalty = $150 million

$50 million to pay ongoing R&D

$100 million profit divided by 1 billion fully diluted

$.10 EPS

PE ratio of 20

$2.00 a share

30% discount for time value of money

$1.40 a share

$1.4 billion market cap fully diluted.