Elite Pharmaceuticals Inc (ELTP)

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$ELTP Cash on hand and working capital up significantly 2016 EOY so that Cash on hand in Jan/Feb 2017 would now be in the $16 mil range, the highest in $ELTP history.

As of December 31, 2016 we had cash on hand of $13.3 million and working capital of $15.9 million. Both of these are up since the beginning of our fiscal year cash is up by $1.8 million, working capital is up by $3.8 million.

The inventory increased Dec 31 by +$3 mil because of quota limit has now shipped in Jan 2017 so that Cash on hand in Jan/Feb would now be in the $16 mil range.

This is significant cash increase YOY and fully finances ALL of $ELTP ANDAs R&D, eight more expected in 2017, as well as the ongoing FDA official InVivo SequestOx testing.

Four more ANDAs from $ELTP forward business model one per Qtr, plus four more ANDAs with Partner SunGen that have +$3Bil market.