Elite Pharmaceuticals Inc (ELTP)

[DR Ryan]

You ready for that 200k milestone payment due tomorrow? I am. Should give us close to $2 million in revenue for next quarter.

Inventory an amazing $ 1,719,673

NOTE 4 - INVENTORIES

Inventories consist of raw materials, work in process and finished goods and are stated at the lower of cost (first-in, first-out basis) or market (net realizable value), and summarized as follows:

September 30, 2013
Raw Materials $ 910,187
Work-in-Process 809,486
Finished Goods —
Less: Inventory Reserve —
Total Inventory $ 1,719,673