Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

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

The 2016 annual report is just one source that proves these numbers are way off. Frankly, 2014-2016 doesn't even pass the common sense test, unless one believes SequestOx cost $5M total. The great thing about facts is that they're provable. Here's a real, live link to real, actual facts. Scroll down to page 12:



https://sec.report/Document/0001144204-16-108327/

Research and development costs were $12.4 million, $14.7 million and $4.0 million for the years ended March 31, 2016, 2015 and 2014, respectively, with such costs relating almost entirely to the development of SequestOx™, the first product developed by Elite that incorporates the technology.