Elite Pharmaceuticals Inc (ELTP)

[The ELTP King]

COMPLETELY WRONG.

Elite can go to the Nasdaq TODAY if they wanted to.

I've already reported on this several months ago.

Elite has to meet the requirements on either page 10 or page 11...............WHICH THEY ALREADY DO...............except for the PPS which will be achieved through a reverse split.

https://listingcenter.nasdaq.com/assets/initialguide.pdf

NASDAQ in 2023?

There are a few ways Elite can uplist to the NASDAQ and only one option is even remotely realistic.

1. Market Cap of $550M with cash flow of $27.5M in aggregate. (Not even close w/ market cap)

2. Assets of $80M & Shareholder equity of $55M. (Not a chance here either)

3. Market cap of $850M and revenues exceeding $90M. (Goose egg on market cap & rev threshold)

4. $11M in pre-earnings over prior 3 years without a net loss. (Getting close)

Earnings are Elite’s only viable path to NASDAQ near term. We had a net loss in FY20, but made the cut last year and I expect that Elite will profitable again this year. This means that we are on track to meet NASDAQ’s min requirements with the filing of our 10K next year (one year from next month).

If stars align, we expect more filings this year and next, which will start driving some attention and stock price up with a potential uplisting to NASDAQ riding on the filing momentum, stability and future growth.

One year and counting (+/- few months) to get off the OTC. And that is good news.