Elite Pharmaceuticals Inc (ELTP)

[lasers]

$ELTP SequestOx development costs total +$15 mil cost. These costs have been entirely paid for by $ELTP. The milestones paid are simply recovering those R&D costs.

Indeed Revenues are increasing:

I will start with the highlights, or by highlighting our progress for the last three years and our strategy for this quarter and the next three years. We are now exceeding $10 million in revenue. We are exceeding 50% per year growth in the last three years. We developed and filed SequestOx. We developed and filed oxy/APAP. We developed and will file several products in 2017.

So now on to the P&L statement, gross revenues were $2.7 million for the quarter, and they are $5.9 million for the six months