2017 Q2 Form 10-Q Financial Statement
#000114420417041706 Filed on August 09, 2017
Income Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| Revenue | $1.703M | $3.271M |
| YoY Change | -47.94% | 51.23% |
| Cost Of Revenue | $1.015M | $2.148M |
| YoY Change | -52.74% | 79.45% |
| Gross Profit | $687.7K | $1.123M |
| YoY Change | -38.76% | 16.25% |
| Gross Profit Margin | 40.39% | 34.33% |
| Selling, General & Admin | ||
| YoY Change | ||
| % of Gross Profit | ||
| Research & Development | $1.966M | $1.550M |
| YoY Change | 26.8% | -34.48% |
| % of Gross Profit | 285.86% | 138.06% |
| Depreciation & Amortization | $188.1K | $176.1K |
| YoY Change | 6.86% | 9.04% |
| % of Gross Profit | 27.36% | 15.68% |
| Operating Expenses | $2.926M | $2.361M |
| YoY Change | 23.93% | -30.0% |
| Operating Profit | -$2.238M | -$1.238M |
| YoY Change | 80.8% | -48.57% |
| Interest Expense | $70.73K | $68.94K |
| YoY Change | 2.59% | -9.56% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $73.00K | $2.334M |
| YoY Change | -96.87% | -67.31% |
| Pretax Income | -$2.166M | $1.097M |
| YoY Change | -297.51% | -76.84% |
| Income Tax | $3.000K | -$3.000K |
| % Of Pretax Income | -0.27% | |
| Net Earnings | -$2.169M | $1.099M |
| YoY Change | -297.34% | -76.78% |
| Net Earnings / Revenue | -127.37% | 33.6% |
| Basic Earnings Per Share | $0.00 | $0.00 |
| Diluted Earnings Per Share | $0.00 | $0.00 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 819.3M shares | 722.8M shares |
| Diluted Shares Outstanding | 819.3M shares | 722.8M shares |
Balance Sheet
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $9.570M | $12.81M |
| YoY Change | -25.29% | 10.24% |
| Cash & Equivalents | $9.962M | $12.81M |
| Short-Term Investments | ||
| Other Short-Term Assets | $250.0K | $220.0K |
| YoY Change | 13.64% | -15.38% |
| Inventory | $5.890M | $3.740M |
| Prepaid Expenses | ||
| Receivables | $720.0K | $1.220M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $16.44M | $17.99M |
| YoY Change | -8.62% | 14.01% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $9.320M | $8.223M |
| YoY Change | 13.35% | 18.31% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | $6.412M | |
| YoY Change | ||
| Long-Term Investments | $60.00K | $50.00K |
| YoY Change | 20.0% | -72.22% |
| Other Assets | $390.0K | $437.7K |
| YoY Change | -10.89% | -27.05% |
| Total Long-Term Assets | $17.45M | $15.07M |
| YoY Change | 15.8% | 6.65% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $16.44M | $17.99M |
| Total Long-Term Assets | $17.45M | $15.07M |
| Total Assets | $33.89M | $33.06M |
| YoY Change | 2.51% | 10.53% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $880.0K | $1.458M |
| YoY Change | -39.63% | -41.46% |
| Accrued Expenses | $1.200M | $1.400M |
| YoY Change | -14.29% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | -100.0% | |
| Long-Term Debt Due | $420.0K | $510.0K |
| YoY Change | -17.65% | 13.33% |
| Total Short-Term Liabilities | $3.510M | $4.379M |
| YoY Change | -19.85% | 0.44% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $3.460M | $2.110M |
| YoY Change | 63.98% | 1.93% |
| Other Long-Term Liabilities | $9.230M | $41.33K |
| YoY Change | 22231.91% | -99.73% |
| Total Long-Term Liabilities | $12.69M | $13.14M |
| YoY Change | -3.45% | -68.61% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $3.510M | $4.379M |
| Total Long-Term Liabilities | $12.69M | $13.14M |
| Total Liabilities | $16.20M | $17.52M |
| YoY Change | -7.55% | -18.8% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$141.6M | |
| YoY Change | ||
| Common Stock | $111.0M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $306.8K | |
| YoY Change | ||
| Treasury Stock Shares | 100.0K shares | 100.0K shares |
| Shareholders Equity | $17.68M | -$30.89M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $33.89M | $33.06M |
| YoY Change | 2.51% | 10.53% |
Cashflow Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$2.169M | $1.099M |
| YoY Change | -297.34% | -76.78% |
| Depreciation, Depletion And Amortization | $188.1K | $176.1K |
| YoY Change | 6.86% | 9.04% |
| Cash From Operating Activities | -$1.091M | -$760.0K |
| YoY Change | 43.56% | -140.21% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$340.0K | -$280.0K |
| YoY Change | 21.43% | -61.11% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$335.8K | -$280.0K |
| YoY Change | 19.94% | -61.11% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $423.8K | $2.470M |
| YoY Change | -82.85% | 21.06% |
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | $405.4K | 2.350M |
| YoY Change | -82.75% | -21.14% |
| NET CHANGE | ||
| Cash From Operating Activities | -$1.091M | -760.0K |
| Cash From Investing Activities | -$335.8K | -280.0K |
| Cash From Financing Activities | $405.4K | 2.350M |
| Net Change In Cash | -$1.021M | 1.310M |
| YoY Change | -177.98% | -68.43% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$1.091M | -$760.0K |
| Capital Expenditures | -$340.0K | -$280.0K |
| Free Cash Flow | -$751.1K | -$480.0K |
| YoY Change | 56.47% | -118.39% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2016Q2 | us-gaap |
Revenue Other Manufactured Products
RevenueOtherManufacturedProducts
|
2551858 | USD |
| CY2017Q2 | us-gaap |
Revenue Other Manufactured Products
RevenueOtherManufacturedProducts
|
1010896 | USD |
| CY2016Q2 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
719288 | USD |
| CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
819321321 | shares |
| CY2017 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P10Y | |
| CY2016Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
699011 | USD |
| CY2016Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
22392 | USD |
| CY2016Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
2361157 | USD |
| CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1237563 | USD |
| CY2017Q2 | eltp |
Change In Fair Value Of Warrant Derivatives
ChangeInFairValueOfWarrantDerivatives
|
139260 | USD |
| CY2017Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
423769 | USD |
| CY2016Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1550370 | USD |
| CY2017Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1965883 | USD |
| CY2017Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
855961 | USD |
| CY2016Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
89384 | USD |
| CY2017Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
97361 | USD |
| CY2017Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
6776 | USD |
| CY2017Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
2925981 | USD |
| CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
72511 | USD |
| CY2016Q2 | eltp |
Change In Fair Value Of Warrant Derivatives
ChangeInFairValueOfWarrantDerivatives
|
2399921 | USD |
| CY2016Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2334087 | USD |
| CY2017Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.00 | |
| CY2017Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.00 | |
| CY2017Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
97361 | USD |
| CY2017Q2 | eltp |
Stock Issued During Period Value Execution Of Warrants
StockIssuedDuringPeriodValueExecutionOfWarrants
|
181908 | USD |
| CY2017Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
188130 | USD |
| CY2017Q2 | us-gaap |
License And Services Revenue
LicenseAndServicesRevenue
|
691874 | USD |
| CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2238271 | USD |
| CY2016Q2 | us-gaap |
Interest Expense
InterestExpense
|
68943 | USD |
| CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2168760 | USD |
| CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1094024 | USD |
| CY2017Q2 | eltp |
Change In Value Of Convertible Preferred Share Mezzanine Equity
ChangeInValueOfConvertiblePreferredShareMezzanineEquity
|
0 | USD |
| CY2016Q2 | eltp |
Change In Value Of Convertible Preferred Share Mezzanine Equity
ChangeInValueOfConvertiblePreferredShareMezzanineEquity
|
-2142857 | USD |
| CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2165760 | USD |
| CY2016Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1096524 | USD |
| CY2017Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3982 | USD |
| CY2016Q2 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3109 | USD |
| CY2017Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2168760 | USD |
| CY2016Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1048833 | USD |
| CY2016Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.00 | |
| CY2016Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.00 | |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
722783442 | shares |
| CY2017Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
819321321 | shares |
| CY2016Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
722783442 | shares |
| CY2017Q2 | us-gaap |
Interest Expense
InterestExpense
|
70731 | USD |
| CY2017Q2 | us-gaap |
Gross Profit
GrossProfit
|
687710 | USD |
| CY2016Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
176060 | USD |
| CY2017Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-139260 | USD |
| CY2016Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-2399921 | USD |
| CY2017Q2 | eltp |
Accrued Compensation Non Cash
AccruedCompensationNonCash
|
923500 | USD |
| CY2016Q2 | eltp |
Accrued Compensation Non Cash
AccruedCompensationNonCash
|
457450 | USD |
| CY2017Q2 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
97361 | USD |
| CY2017Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-212907 | USD |
| CY2016Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-310051 | USD |
| CY2017Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-525698 | USD |
| CY2016Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
441565 | USD |
| CY2017Q2 | eltp |
Increase Decrease In Prepaid And Other Current Assets
IncreaseDecreaseInPrepaidAndOtherCurrentAssets
|
-205106 | USD |
| CY2016Q2 | eltp |
Increase Decrease In Prepaid And Other Current Assets
IncreaseDecreaseInPrepaidAndOtherCurrentAssets
|
-161345 | USD |
| CY2016Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
48417 | USD |
| CY2017Q2 | eltp |
Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
|
-253334 | USD |
| CY2016Q2 | eltp |
Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
|
-253330 | USD |
| CY2017Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-1091059 | USD |
| CY2016Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-764172 | USD |
| CY2017Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-336139 | USD |
| CY2016Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-284498 | USD |
| CY2017Q2 | us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
275344 | USD |
| CY2016Q2 | us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
284323 | USD |
| CY2017Q2 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
60483 | USD |
| CY2016Q2 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
175 | USD |
| CY2017Q2 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
181909 | USD |
| CY2016Q2 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
708431 | USD |
| CY2017Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
405410 | USD |
| CY2016Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
2351442 | USD |
| CY2017Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1021788 | USD |
| CY2016Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1302772 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
11512179 | USD |
| CY2016Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12814951 | USD |
| CY2017Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-685002 | USD |
| CY2017Q2 | eltp |
Commitment Shares Issued
CommitmentSharesIssued
|
931182 | USD |
| CY2016Q2 | eltp |
Commitment Shares Issued
CommitmentSharesIssued
|
38441 | USD |
| CY2017Q2 | eltp |
Noncash Rent Expense And Lease Accretion
NoncashRentExpenseAndLeaseAccretion
|
2595 | USD |
| CY2016Q2 | eltp |
Noncash Rent Expense And Lease Accretion
NoncashRentExpenseAndLeaseAccretion
|
-6087 | USD |
| CY2017Q2 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
160528 | USD |
| CY2016Q2 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
109018 | USD |
| CY2017Q2 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
39741 | USD |
| CY2016Q2 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
0 | USD |
| CY2017Q2 | us-gaap |
Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
|
190434 | USD |
| CY2016Q2 | us-gaap |
Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
|
0 | USD |
| CY2017Q2 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
0 | USD |
| CY2016Q2 | us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-718309 | USD |
| CY2016Q2 | eltp |
Effect Of Dilutive Instruments On Net Income
EffectOfDilutiveInstrumentsOnNetIncome
|
0 | USD |
| CY2017Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-2168760 | USD |
| CY2016Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-1048833 | USD |
| CY2016Q2 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2017Q2 | eltp |
Effect Of Dilutive Instruments On Net Income
EffectOfDilutiveInstrumentsOnNetIncome
|
0 | USD |
| CY2017Q2 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2017Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
5619235 | USD |
| CY2017Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
5911223 | USD |
| CY2017Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
96227 | USD |
| CY2017Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
283086 | USD |
| CY2017Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
174806 | USD |
| CY2017Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
221657 | USD |
| CY2017Q2 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
0 | USD |
| CY2017Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
0 | USD |
| CY2017Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
7611338 | USD |
| CY2017Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
7426752 | USD |
| CY2017Q2 | us-gaap |
Depreciation
Depreciation
|
184586 | USD |
| CY2016Q2 | us-gaap |
Depreciation
Depreciation
|
172515 | USD |
| CY2017Q2 | eltp |
Bond Issue Costs
BondIssueCosts
|
354453 | USD |
| CY2017Q1 | eltp |
Bond Issue Costs
BondIssueCosts
|
354453 | USD |
| CY2017Q2 | eltp |
Accumulated Amortization Of Bond
AccumulatedAmortizationOfBond
|
167775 | USD |
| CY2017Q1 | eltp |
Accumulated Amortization Of Bond
AccumulatedAmortizationOfBond
|
164231 | USD |
| CY2017Q2 | eltp |
Unamortization Of Bond
UnamortizationOfBond
|
186678 | USD |
| CY2017Q1 | eltp |
Unamortization Of Bond
UnamortizationOfBond
|
190222 | USD |
| CY2017Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
21759 | USD |
| CY2016Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
21151 | USD |
| CY2017Q2 | us-gaap |
Deferred Revenue
DeferredRevenue
|
3025556 | USD |
| CY2017Q1 | us-gaap |
Deferred Revenue
DeferredRevenue
|
3278890 | USD |
| CY2016Q1 | eltp |
Warrants Outstanding
WarrantsOutstanding
|
41586066 | shares |
| CY2017Q1 | eltp |
Warrants Outstanding
WarrantsOutstanding
|
9379219 | shares |
| CY2017Q1 | eltp |
Warrants Outstanding Weighted Average Exercise Price
WarrantsOutstandingWeightedAverageExercisePrice
|
0.0625 | |
| CY2017Q2 | eltp |
Warrants Outstanding Weighted Average Exercise Price
WarrantsOutstandingWeightedAverageExercisePrice
|
0.1426 | |
| CY2017Q2 | eltp |
Warrants Outstanding
WarrantsOutstanding
|
85477348 | shares |
| CY2016Q1 | eltp |
Warrants Outstanding Weighted Average Exercise Price
WarrantsOutstandingWeightedAverageExercisePrice
|
0.0625 | |
| CY2017 | eltp |
Warrant Exercised Forfeitures And Expirations During Period
WarrantExercisedForfeituresAndExpirationsDuringPeriod
|
32206847 | shares |
| CY2017Q2 | eltp |
Warrant Exercised Forfeitures And Expirations During Period
WarrantExercisedForfeituresAndExpirationsDuringPeriod
|
2910532 | shares |
| CY2017Q2 | us-gaap |
Noninterest Expense Directors Fees
NoninterestExpenseDirectorsFees
|
414500 | USD |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6737667 | shares |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
300000 | shares |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6977667 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.2 | |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.21 | |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
60000 | shares |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
5017667 | shares |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0.46 | |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.21 | |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
0.19 | |
| CY2017 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y8M12D | |
| CY2017Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y9M18D | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
258747 | USD |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
426350 | USD |
| CY2017Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
401393 | USD |
| CY2017Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
389393 | USD |
| CY2017Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
389081 | USD |
| CY2017Q2 | us-gaap |
Revenue Recognition Milestone Method Milestone
RevenueRecognitionMilestoneMethodMilestone
|
The milestones, totaling $500k (with $405k already received), consist of amounts due upon the first shipment of each identified product, as follows: Phentermine 37.5mg tablets ($145k), Phentermine 15 & 30mg capsules ($45k), Hydromorphone 8mg ($125k), Naltrexone 50mg ($95k) and the balance of $95k due in relation to the first shipment of generic products which still require marketing authorizations from the FDA, and to which there can be no assurances of such marketing authorizations being granted and accordingly there can be no assurances that the Company will earn and receive these milestone amounts. | |
| CY2017Q2 | us-gaap |
Inventory Gross
InventoryGross
|
5890268 | USD |
| CY2017Q1 | us-gaap |
Inventory Gross
InventoryGross
|
6415966 | USD |
| CY2017Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
16931932 | USD |
| CY2017Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
16466156 | USD |
| CY2017Q2 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
6419091 | USD |
| CY2017Q2 | eltp |
Intangible Assets Excluding Goodwill Acquired
IntangibleAssetsExcludingGoodwillAcquired
|
1260483 | USD |
| CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
0 | USD |
| CY2017Q1 | us-gaap |
Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
|
6411799 | USD |
| CY2017 | eltp |
Intangible Assets Excluding Goodwill Acquired
IntangibleAssetsExcludingGoodwillAcquired
|
7292 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
0 | USD |
| CY2017Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y8M12D | |
| CY2017Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P10Y | |
| CY2017Q2 | eltp |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
|
59462 | USD |
| CY2017 | eltp |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
|
373055 | USD |
| CY2017 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
357955 | USD |
| CY2017Q2 | eltp |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsForfeitureRate
|
0.047 | pure |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
1.214 | pure |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.216 | pure |
| CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
1.2 | pure |
| CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.21 | pure |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.022 | pure |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.024 | pure |
| CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.015 | pure |
| CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.025 | pure |
| CY2017Q2 | eltp |
Price Difference Between Exercise Price And Quoted Price
PriceDifferenceBetweenExercisePriceAndQuotedPrice
|
0.19 | |
| CY2017Q1 | eltp |
Price Difference Between Exercise Price And Quoted Price
PriceDifferenceBetweenExercisePriceAndQuotedPrice
|
0.15 | |
| CY2017Q2 | eltp |
Retirement Of Common Shares Pursuant To Issuance Of Series J Convertible Preferred Shares
RetirementOfCommonSharesPursuantToIssuanceOfSeriesJConvertiblePreferredShares
|
20378631 | USD |
| CY2016Q2 | eltp |
Retirement Of Common Shares Pursuant To Issuance Of Series J Convertible Preferred Shares
RetirementOfCommonSharesPursuantToIssuanceOfSeriesJConvertiblePreferredShares
|
0 | USD |
| CY2017Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3000 | USD |
| CY2016Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2500 | USD |
| CY2017Q2 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
20378631 | USD |
| CY2017Q2 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
312 | USD |
| CY2016Q2 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
0 | USD |
| CY2017Q2 | us-gaap |
Notes Issued1
NotesIssued1
|
1200000 | USD |
| CY2016Q2 | us-gaap |
Notes Issued1
NotesIssued1
|
0 | USD |
| CY2017Q2 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
1200000 | USD |
| CY2017Q1 | us-gaap |
Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
|
0 | USD |
| CY2017Q2 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
13903957 | USD |
| CY2017Q1 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
0 | USD |
| CY2017Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | USD |
| CY2017Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
0 | USD |
| CY2017Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
423770 | USD |
| CY2016Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2470338 | USD |
| CY2017Q2 | us-gaap |
Interest Paid
InterestPaid
|
19688 | USD |
| CY2016Q2 | us-gaap |
Interest Paid
InterestPaid
|
31422 | USD |
| CY2017Q2 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.01 | |
| CY2017Q1 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.01 | |
| CY2017Q2 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
50 | shares |
| CY2017Q1 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
0 | shares |
| CY2017Q2 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
24.0344 | shares |
| CY2017Q2 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
24.0344 | shares |
| CY2017Q1 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
0 | shares |
| CY2017Q1 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
0 | shares |
| CY2017Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2017Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
995000000 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
995000000 | shares |
| CY2017Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
780799895 | shares |
| CY2017Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
780699895 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
928031448 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
927931448 | shares |
| CY2017 | eltp |
Warrants Granted During Period
WarrantsGrantedDuringPeriod
|
0 | shares |
| CY2017Q2 | eltp |
Warrants Granted During Period Weighted Average Exercise Price
WarrantsGrantedDuringPeriodWeightedAverageExercisePrice
|
0.1521 | |
| CY2017 | eltp |
Warrants Granted During Period Weighted Average Exercise Price
WarrantsGrantedDuringPeriodWeightedAverageExercisePrice
|
0 | |
| CY2017Q2 | eltp |
Derivative Liabilities Warrant Issued During Period
DerivativeLiabilitiesWarrantIssuedDuringPeriod
|
6474674 | USD |
| CY2017Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
100000 | shares |
| CY2017Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
100000 | shares |
| CY2017Q2 | eltp |
Warrants Granted During Period
WarrantsGrantedDuringPeriod
|
79008661 | shares |
| CY2017Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3627090 | shares |
| CY2016Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
149825462 | shares |
| CY2017Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P9Y9M29D | |
| CY2017Q2 | eltp |
Derivative Liability Warrants Change In Fair Value Of Warrant Liability
DerivativeLiabilityWarrantsChangeInFairValueOfWarrantLiability
|
139260 | USD |
| CY2017Q2 | eltp |
Warrant Expiration Period
WarrantExpirationPeriod
|
P10Y | |
| CY2017Q2 | us-gaap |
Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
|
970923 | USD |
| CY2017Q2 | eltp |
Stock Issued During Period Value Additional Issues
StockIssuedDuringPeriodValueAdditionalIssues
|
11450 | USD |
| CY2017Q2 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">NOTE 10. COMMITMENTS AND CONTINGENCIES</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company’s condensed consolidated financial statements. Contingencies are inherently unpredictable and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions.</font><b><i><font style="FONT-SIZE: 10pt"> </font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent"> <font style="FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent"> <b><i><font style="FONT-SIZE: 10pt">Operating Leases – 135 Ludlow Ave.</font></i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt">The Company entered into an operating lease for a portion of a one-story warehouse, located at 135 Ludlow Avenue, Northvale, New Jersey (the “135 Ludlow Ave. lease”). The 135 Ludlow Ave. lease is for approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 15,000</font> square feet of floor space and began on July 1, 2010. During July 2014, the Company modified the 135 Ludlow Ave. lease in which the Company was permitted to occupy the entire <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 35,000</font> square feet of floor space in the building (“135 Ludlow Ave. modified lease”).</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt">The 135 Ludlow Ave. modified lease, includes an initial term, which expired on December 31, 2016 with two tenant renewal options of five years each, at the sole discretion of the Company. On June 22, 2016, the Company exercised the first of these renewal options, with such option including a term that begins on January 1, 2017 and expires on December 31, 2021.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt">The 135 Ludlow Ave. property required significant leasehold improvements and qualifications, as a prerequisite, for its intended future use. Manufacturing, packaging, warehousing and regulatory activities are currently conducted at this location. Additional renovations and construction to further expand the Company’s manufacturing resources are in progress.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt">Rent expense is recorded on the straight-line basis. Rents paid in excess is recognized as deferred rent. Rent expense under the 135 Ludlow Ave. modified lease for the three-month ended June 30, 2017 and 2016 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">54,909</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">45,213</font>, respectively. Rent expense is recorded in general and administrative expense in the unaudited condensed consolidated statements of operations. Deferred rent as of June 30, 2017 and March 31, 2017 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4,302</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,152</font>, respectively and recorded as a component of other long-term liabilities.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent" align="justify"><font style="FONT-SIZE: 10pt">The Company has an obligation for the restoration of its leased facility and the removal or dismantlement of certain property and equipment as a result of its business operation in accordance with ASC 410, <i> Asset Retirement and Environmental Obligations – Asset Retirement Obligations</i>. The Company records the fair value of the asset retirement obligation in the period in which it is incurred. The Company increases, annually, the liability related to this obligation. The liability is accreted to its present value each period and the capitalized cost is depreciated over the useful life of the related asset. Upon settlement of the liability, the Company records either a gain or loss. As of June 30, 2017, and March 31, 2017, the Company had a liability of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">30,063</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">29,616</font>, respectively and recorded as a component of other long-term liabilities.</font></div> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2017Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P10Y | |
| CY2017Q2 | eltp |
Stock Issued During Period Value Initial Issues
StockIssuedDuringPeriodValueInitialIssues
|
919732 | USD |
