Elite Pharmaceuticals Inc (ELTP)

[HGilS]

Wow - What a short sighted viewpoint...
From the Q4 2022 results Teleconference..

Why did SunGen sell its 50% interest of Adderall or why didn’t Praxgen want to keep it? Again, it’s the same company. They sold it because they really did not have the money. They would have loved to have kept it. On a side note, this is from the Co-CEO, the best and most successful relationship they had was with us that’s produced Amphetamine IR and ER.

And they would have loved to have kept that and made money, except they lost their Chinese financer. And when they had no more money and a ton of things that they are working on and employees, they needed a cash infusion and that’s why they came to us. Elite did have the money and then end up selling it to Mikah. They were desperate for money and they wish even until today, they had the money to keep it, okay.

Research and development, product pipeline. We were co-developing a fairly big CNS drug with SunGen, and then it got put on hold. Is it back on again with SunGen or Praxgen? We acquired the right to proceed with the -- that product, the SunGen levered system product. So we will be proceeding with it ourselves. Actually, we are working on it.