I am less worried about licensing fees as they are icing on a pretty small cake. I am more worried about the manufacturing revenues as that is the core revenue base. No talk of Walgreen’s or other partners makes me think they fell through the cracks. Elite is still in early stages during a pandemic that has affected everyone, but they are barely penetrating this market. I just can’t get a read on whether it is the quality of the product and/or the quality of the partnerships they continue to pursue. The company is growing, but more like a staircase at a haunted house with a few missing stairs than a smooth positive slope. I think there is bad news to come next Q. After this Q’s bleh top line results, I’m not expecting Elite to break 10M/qtr until later next year. Not expecting movement on CNS drug and company has to rebuild pipeline and produce something bigger than Loxitane to be viable on a bigger exchange. They clearly aren’t ready to move off the OTC.
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