Elite Pharmaceuticals Inc (ELTP)

[Hike]

Accumulated deficit and current debt are not the same thing.
Check the level of ELTP's current debt (currently outstanding debt obligations). You will be surprised.

An accumulated deficit is the accumulated difference between revenue and expenditures. When ELTP issued stock in the past, it acquired money. It spent the money. And, because it had no revenue (because it was in the initial stage of its life and dedicated exclusively to R&D), its accumulated deficit rises, but there is no added debt.

A company, unlike the US government, can fund its deficit by issuing stock instead of debt.

Accumulated deficit is a fairly meaningless data point when one is trying to value a company.