Yes sir, Elite was briefly profitable when they had Lodrane-24. If it were not for that event, Elite would be profitable today; however, the company has made the right strategic moves to return to profitability, which I believe we will see again.
And, it is R&D that offers Elite and its investors the greatest potential return. R&D costs for the most successful pharma firms are high and understandably so. Not to bust some people's confirmation bias, but that is where the pipeline is developed and where revenues are born.
Still was not profitable. I think I'll go with the official S-3 filing that says Elite has not be profitable since 1999 (or its inception). I can only interpret that for what it says.
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