Elite Pharmaceuticals Inc (ELTP)

[Winechemist]

They have quota for this entire 2023 calendar year as approved from filing last year based on usage from 2022 plus any extra they may have requested. This form is to ask for material for 2024 calendar year. I am guessing the dip Nasrat is referring too is that for the first quarter of 2024, we will no longer be getting manufacturing fees coming in, which is 70% of our revenue currently, product ships to pharmacies and they usually have net 30 or net 60 days to pay our contract term price, ie the gap in revenue the first couple month of our new fiscal calendar year. We will still be getting royalties/licensing fees from Lannett for I would guess at least 6-9 months as they sell the current product we deliver to them up until April 1st. My guess is starting next month we will be manufacturing our own labelled product and bright stocking, need to be careful as we cannot distribute until April 1st and do not want to lose too much expiration dating on the product. Hope this helps clarify everything a little better.