Elite Pharmaceuticals Inc (ELTP)

[no2koolaid]

Interesting point. First, "materiality" appears a fluid concept the SEC does not focus on. I commend Elite for the PR, as it should have. As for LCI, they likely did not want to PR that they were ending an agreement that brought in revenues, when their revenue decline has been precipitous. Further interesting is that they decided to let Elite know AFTER their annual report and analyst conference that reported the following...

LCI after-hours on Wednesday posted Q4 non-GAAP EPS of -$0.44 compared to -$0.19 a year ago, and net sales of $74.19M versus $106M last year.

Reporting shrinking financials for the year is not when you want to make it known that management has intentionally decided to further shrink the revenue pool. Even with approvals for IR & XR, those are prospective revenue producers, not current!