It will have to be inspected anyway.
from the last CC:
Elite has other products in the formulation development stage that has not reached a reportable milestone yet. We will update you on them upon reaching these milestones. Regarding the facility and infrastructure, with our success in moving to direct sales, Elite is expanding our inventory and packaging space to meet the growing demands.
We have taken an additional 34,000 square feet to support expanded packaging inventory and warehouse. We closed the deal and took possession of the facility, literally right across from our manufacturing facility in January.
Now the hard work begins. You first need permits for construction, to modify the inside of the facility and separate it into two parts and what have you. We are working with IT and servers and installing cameras and ADV security.
We're working on setting up the Vault and working with the DEA of what else do they need, the form of securities Vault in order for them to come in and approve the facility. We purchased the packaging line. Now we need to deliver it and install it, qualify it, make batches on it, put these patches on stability and file or ask FDA for approval.
Have the FDA come in and inspect the facility. At the end of the day, we'll have duplicate equipment for manufacturing and packaging. We already have validated and qualified our Niro. So now we can make pellets. We have three times the capacity of making what we used to. We have bought a new encapsulators and a new packaging line.
On the packaging line alone, once this packaging line is qualified and operational, we will have two packaging lines and the capacity actually will increase by three to four times because the new packaging line is a lot faster and more modern than the old one, which was really a very good packaging line.
In summary, Elite has shown strong growth this quarter and is executing its strategy of commercial, sales and distribution and research and development growth. We look forward to talking to you again about more success in June when we filed the 10-K. Let's go through Q&A.
As I said before, Carter handled all the financial questions and there were a lot of them and many of them came in late last night or early this morning. I will be addressing the nonfinancial parts with a couple of comments in generalities about financials.
