Elite Pharmaceuticals Inc (ELTP)

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Regarding the NJEDA Bonds. From Q1 CC transcript:

David Altshuler - Meketa Investment Group - Analyst
David Altshuler, shareholder. I'm curious about something in terms of the default on the municipal bonds that are financing
the facility. Is this, in any way, an impediment to other people who are considering doing business with you, to see that you're
not up-to-date on this obligation? And, what is being done to remedy this?

Carter Ward - Elite Pharmaceuticals Inc - CFO
Well, with regards to an impediment of people doing business, no, we haven't experienced any problems related to the bonds.
What we are doing with this is, and this is in our reports, we have submitted a request, which we're allowed to do to defer the
principal payments. We're allowed to request up to a five year deferral of principal payments.
We have requested three years and we made the request through our trustee and we are awaiting for a response from the
bondholders. The bondholders have to approve that request, so that's where it stands right now. The three years requested
would be -- on the fourth year we would have to repay the entire three years principal payment plus the principal payment that
is due that year. So that's the proposal that's currently out there.