Somebody ask for perspective LOL??? Here it is....ask and ye shall receive....
From the CC: Touching upon the most recent Quarterly SEC filing...Out of BOD's mouths to our ears :-)
Almost $2.4 million in completely new revenues were created during this year. That's something that Elite has never achieved before. In fact, it took almost 20 years from its founding in 1990 all the way into 2009 for Elite to post annual revenues which first broke the $2 million barrier. It's really quite an accomplishment in 2012 in this regard.
These investments are required and they are being made as a result of Elite's creating the new and the growing financial streams which we are experiencing currently. If you read the K and the full financials, there's a few disclosures which I think deserve a special mention. Specifically, the patent approval, the bridge loan from our CEO, and the raising of additional capital.
I also want to just expound a little bit on two areas that have been previously mentioned. The first is on our excitement over the patent and why we view it at as such. The patent, just to be clear, is a generalized approach to how to develop an abuse resistant product. It's important to remember that it's not specific to any one product. It can be used basically for any opioid.
My vision is to create a line of abuse resistant opioid products using our patented technology. Push comes to shove, that's where the value -- the true large value of the Company is, is in the creation of that line of abuse resistant products. Nobody in management is working to see this Company grow by million-dollar increments.
We are going for the doubles, the triples, and the home runs. And we think we can do that.
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