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Tuesday, 06/15/2021 2:56:14 PM

Tuesday, June 15, 2021 2:56:14 PM

Post# of 402162
Does this mean more money next Q?
From SEC 10-K
NOTE 19. SUBSEQUENT EVENTS

Sale of New Jersey Net Operating Loss and Research and Development Tax Credit

In April 2021, Elite Laboratories Inc., a wholly owned subsidiary of Elite Pharmaceuticals Inc. received final approval from the New Jersey Economic Development Authority for the sale of net tax benefits of $798,889 relating to New Jersey net operating losses and net tax benefits of $58,490, relating to research and development tax credits. The Company sold the net tax benefits approved for sale at a transfer price equal to ninety three and one half cents for every benefit dollar and incurred transaction fees of $12,861, resulting in net proceeds to the Company of $788,789.
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