Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Just in case...

thanks for this...

by golly appears to be the elite/epic contract LOL LOL

By golly, it pays to read the agreement through to its entirety...please observe the revelation of the milestone payments...

SCHEDULE B

Compensation for Licensing Rights

Milestone Payments

EPIC shall pay to ELITE Milestone Payments equal to fifteen million dollars ($15,000,000) in compensation for Elite’s R&D costs.

· Five million ($5,000,000) shall be paid to Elite upon signing the agreement to be used for clinical studies including a bunionectomy.
· Ten million ($10,000,000), covering ELI-200 R&D expenses which expenses shall be documented and provided to Epic prior to the following payments: 2.5 Million Dollars upon filing of the NDA;
· 7.5 Million Dollars upon receipt of the approval letter for the NDA from the Food and Drug Administration.
· All milestone payments shall be non-refundable and shall be credited towards research and development costs for ELI-200. Elite shall document the ELI-200 research and development costs paid for by these milestones including but not limited to manufacturing of clinical lots and registration batches, Bio-Equivalence studies, Methods Development, Analytical and Stability testing, Process Development costs, Human Abuse Liability Clinical Trials, Withdrawal Studies and Regulatory Costs etc.

LOLOLOLOLOLOL...