Elite Pharmaceuticals Inc (ELTP)

[meshcan]

FACT CHECKING…Annual R&D expenses for Elite over time…
2020 = 5,532,462
2019 = 7,599,820
2018 = 9,621,365
2017 = 8,301,693
2016 = 2,903,178
2015 = 2,904,114
2014 = 2,105,725

2013 *

*Nasrat was named CEO August 2013, so his tenure actually began in Fiscal Year 2014. Thus, the FY 2013 R&D of $3,959,316 was NOT during his tenure as CEO.

By adding all the R&D expenses during Nasrat’s tenure as CEO, the totals are $38,968,357. That is 39% of the claimed $100M

As Bob Uecker would say - "Juuuuuust a little bit outside!"

Trying to keep it real.