$ELTP
ELITE PHARMACEUTICALS INC /NV/ Stock $eltp

$eltp Overview Financials Valuation SEC Filings Company Website

2017 Q4 Form 10-Q Financial Statement

#000114420418006977 Filed on February 09, 2018

Income Statement

Concept	2017 Q4	2017 Q1	2016 Q4
Revenue	$2.535M	$1.350M	$2.331M
YoY Change	8.75%	-74.01%	6.24%
Cost Of Revenue	$1.420M	$172.0K	$1.727M
YoY Change	-17.78%	-83.4%	106.58%
Gross Profit	$1.115M	$1.178M	$604.0K
YoY Change	84.6%	-71.68%	-55.52%
Gross Profit Margin	43.98%	87.26%	25.91%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development	$2.514M		$1.526M
YoY Change	64.75%		-51.92%
% of Gross Profit	225.51%		252.68%
Depreciation & Amortization	$285.5K	$210.0K	$166.6K
YoY Change	71.36%	16.67%	4.13%
% of Gross Profit	25.61%	17.83%	27.58%
Operating Expenses	$3.175M	$4.368M	$2.326M
YoY Change	36.5%	21.74%	-42.86%
Operating Profit	-$2.060M	-$3.190M	-$1.722M
YoY Change	19.63%	-658.67%	-36.53%
Interest Expense	$92.46K		$55.56K
YoY Change	66.4%		-18.43%
% of Operating Profit
Other Income/Expense, Net	$517.0K	$4.000K	$1.519M
YoY Change	-65.96%	-99.95%	-115.96%
Pretax Income	-$1.542M		-$203.4K
YoY Change	658.01%
Income Tax	$0.00	$0.00	$1.870M
% Of Pretax Income
Net Earnings	-$490.0K	-$3.186M	$1.667M
YoY Change	-129.39%	-137.49%	-113.63%
Net Earnings / Revenue	-19.33%	-236.0%	71.51%
Basic Earnings Per Share	$0.00	$0.03	$0.00
Diluted Earnings Per Share	$0.00	-$0.01	$0.00
COMMON SHARES
Basic Shares Outstanding	788.4M shares		904.8M shares
Diluted Shares Outstanding	795.1M shares		910.5M shares

Balance Sheet

Concept	2017 Q4	2017 Q1	2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$7.240M	$10.59M	$13.28M
YoY Change	-45.48%	-7.99%	63.95%
Cash & Equivalents		$10.98M	$13.28M
Short-Term Investments
Other Short-Term Assets	$1.060M	$470.0K	$760.0K
YoY Change	39.47%	23.68%	94.87%
Inventory	$5.300M	$6.420M	$6.030M
Prepaid Expenses
Receivables	$1.160M	$930.0K	$540.0K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$14.76M	$18.41M	$20.62M
YoY Change	-28.42%	10.15%	66.02%
LONG-TERM ASSETS
Property, Plant & Equipment	$9.133M	$9.039M	$8.720M
YoY Change	4.74%	11.45%	13.84%
Goodwill
YoY Change
Intangibles	$7.705M	$6.419M
YoY Change		0.11%
Long-Term Investments	$80.00K	$50.00K	$50.00K
YoY Change	60.0%	0.0%	0.0%
Other Assets	$390.0K	$390.0K	$390.0K
YoY Change	0.0%	-10.89%	-39.59%
Total Long-Term Assets	$17.31M	$15.90M	$15.58M
YoY Change	11.13%	6.29%	5.91%
TOTAL ASSETS
Total Short-Term Assets	$14.76M	$18.41M	$20.62M
Total Long-Term Assets	$17.31M	$15.90M	$15.58M
Total Assets	$32.07M	$34.31M	$36.20M
YoY Change	-11.4%	8.33%	33.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.444M	$1.050M	$1.360M
YoY Change	6.19%	-41.82%	-55.26%
Accrued Expenses	$1.786M	$794.6K	$1.802M
YoY Change	-0.94%	43.09%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change		-100.0%	-100.0%
Long-Term Debt Due	$500.0K	$490.0K	$510.0K
YoY Change	-1.96%	58.96%	-13.56%
Total Short-Term Liabilities	$4.740M	$3.345M	$4.680M
YoY Change	1.28%	-27.92%	-12.69%
LONG-TERM LIABILITIES
Long-Term Debt	$3.340M	$2.160M	$2.020M
YoY Change	65.35%	-0.92%	9.19%
Other Long-Term Liabilities	$39.59K	$31.77K	$29.18K
YoY Change	35.69%	-33.01%	-99.87%
Total Long-Term Liabilities	$39.59K	$31.77K	$29.18K
YoY Change	35.69%	-99.8%	-99.88%
TOTAL LIABILITIES
Total Short-Term Liabilities	$4.740M	$3.345M	$4.680M
Total Long-Term Liabilities	$39.59K	$31.77K	$29.18K
Total Liabilities	$12.18M	$3.377M	$10.15M
YoY Change	20.0%	-83.54%	-65.24%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares	100.0K shares	100.0K shares	100.0K shares
Shareholders Equity	$19.89M	$25.66M	$26.05M
YoY Change
Total Liabilities & Shareholders Equity	$32.07M	$34.31M	$36.20M
YoY Change	-11.41%	8.32%	33.43%

Cashflow Statement

Concept	2017 Q4	2017 Q1	2016 Q4
OPERATING ACTIVITIES
Net Income	-$490.0K	-$3.186M	$1.667M
YoY Change	-129.39%	-137.49%	-113.63%
Depreciation, Depletion And Amortization	$285.5K	$210.0K	$166.6K
YoY Change	71.36%	16.67%	4.13%
Cash From Operating Activities	-$480.0K	-$4.070M	-$730.0K
YoY Change	-34.25%	-778.33%	-58.99%
INVESTING ACTIVITIES
Capital Expenditures	$80.00K	-$290.0K	-$290.0K
YoY Change	-127.59%	-49.12%	-825.0%
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change
Cash From Investing Activities	$80.00K	-$290.0K	-$290.0K
YoY Change	-127.59%	-49.12%	-825.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	80.00K	1.680M	1.720M
YoY Change	-95.35%	-50.15%	112.35%
NET CHANGE
Cash From Operating Activities	-480.0K	-4.070M	-730.0K
Cash From Investing Activities	80.00K	-290.0K	-290.0K
Cash From Financing Activities	80.00K	1.680M	1.720M
Net Change In Cash	-320.0K	-2.680M	700.0K
YoY Change	-145.71%	-178.82%	-175.27%
FREE CASH FLOW
Cash From Operating Activities	-$480.0K	-$4.070M	-$730.0K
Capital Expenditures	$80.00K	-$290.0K	-$290.0K
Free Cash Flow	-$560.0K	-$3.780M	-$440.0K
YoY Change	27.27%	-423.08%	-75.82%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2017Q4	eltp	Derivative Liability Warrants DerivativeLiabilityWarrants	2550254	USD
CY2017Q4	us-gaap	Revenue Other Manufactured Products RevenueOtherManufacturedProducts	2083826	USD
CY2016Q4	us-gaap	License And Services Revenue LicenseAndServicesRevenue	444884	USD
CY2017Q4	us-gaap	License And Services Revenue LicenseAndServicesRevenue	451628	USD
CY2016Q4	us-gaap	Sales Revenue Net SalesRevenueNet	2330649	USD
CY2017Q4	us-gaap	Sales Revenue Net SalesRevenueNet	2535454	USD
CY2016Q4	us-gaap	Cost Of Revenue CostOfRevenue	1726751	USD
CY2016Q4	us-gaap	Interest Expense InterestExpense	55563	USD
CY2017Q4	us-gaap	Net Income Loss NetIncomeLoss	-490181	USD
CY2016Q4	us-gaap	Net Income Loss NetIncomeLoss	1666750	USD
CY2017Q4	eltp	Change In Value Of Convertible Preferred Share Mezzanine Equity ChangeInValueOfConvertiblePreferredShareMezzanineEquity	0	USD
CY2017Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1541510	USD
CY2016Q4	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-203364	USD
CY2017Q4	us-gaap	Investment Income Interest InvestmentIncomeInterest	4461	USD
CY2016Q4	us-gaap	Investment Income Interest InvestmentIncomeInterest	3151	USD
CY2017Q4	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-490181	USD
CY2016Q4	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1666750	USD
CY2017Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
	us-gaap	Revenue Other Manufactured Products RevenueOtherManufacturedProducts	4160949	USD
CY2017Q1	us-gaap	Loans Payable Current LoansPayableCurrent	416148	USD
CY2017Q1	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	1013333	USD
CY2017Q1	us-gaap	Liabilities Current LiabilitiesCurrent	3344746	USD
CY2017Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	7704609	USD
CY2017Q1	us-gaap	Secured Long Term Debt SecuredLongTermDebt	1583956	USD
CY2017Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	794628	USD
CY2017Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	1049815	USD
CY2017Q4	us-gaap	Assets Assets	32074160	USD
CY2017Q4	us-gaap	Secured Long Term Debt SecuredLongTermDebt	1504589	USD
CY2017Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9132998	USD
CY2017Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	1013333	USD
CY2017Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1785603	USD
CY2017Q1	us-gaap	Secured Debt Current SecuredDebtCurrent	70822	USD
CY2017Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	39587	USD
CY2017Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1444178	USD
CY2017Q4	us-gaap	Loans Payable Current LoansPayableCurrent	424160	USD
CY2017Q4	us-gaap	Long Term Loans Payable LongTermLoansPayable	636701	USD
CY2017Q1	us-gaap	Long Term Loans Payable LongTermLoansPayable	577612	USD
CY2017Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	1505557	USD
CY2017Q1	eltp	Derivative Liability Warrants DerivativeLiabilityWarrants	843464	USD
CY2016Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	910505291	shares
CY2017Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-2058961	USD
CY2016Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	904763177	shares
CY2017Q4	us-gaap	Interest Expense InterestExpense	92458	USD
CY2017Q4	us-gaap	Depreciation And Amortization DepreciationAndAmortization	7196	USD
CY2017Q4	us-gaap	Gross Profit GrossProfit	1115625	USD
CY2016Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1526183	USD
CY2017Q4	us-gaap	Notes Payable Related Parties Noncurrent NotesPayableRelatedPartiesNoncurrent	1200000	USD
CY2017Q1	us-gaap	Notes Payable Related Parties Noncurrent NotesPayableRelatedPartiesNoncurrent	0	USD
CY2017Q4	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2514435	USD
CY2017Q4	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	788442363	shares
CY2016Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	694321	USD
CY2017Q4	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	614994	USD
CY2016Q4	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	84785	USD
CY2017Q4	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	37961	USD
CY2016Q4	us-gaap	Depreciation And Amortization DepreciationAndAmortization	21032	USD
CY2017Q4	us-gaap	Cost Of Revenue CostOfRevenue	1419829	USD
CY2016Q4	us-gaap	Gross Profit GrossProfit	603898	USD
CY2017Q4	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	795122364	shares
	eltp	Noncash Rent Expense And Lease Accretion NoncashRentExpenseAndLeaseAccretion	7820	USD
	eltp	Noncash Rent Expense And Lease Accretion NoncashRentExpenseAndLeaseAccretion	-18250	USD
CY2017Q4	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-1095629	USD
CY2016Q4	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	95279	USD
CY2016Q4	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	5742114	shares
CY2017Q4	eltp	Effect Of Dilutive Instruments On Net Income EffectOfDilutiveInstrumentsOnNetIncome	605448	USD
CY2017Q4	eltp	Change In Fair Value Of Warrant Derivatives ChangeInFairValueOfWarrantDerivatives	605448	USD
CY2016Q4	us-gaap	Operating Expenses OperatingExpenses	2326321	USD
CY2016Q4	us-gaap	Operating Income Loss OperatingIncomeLoss	-1722423	USD
CY2017Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	517451	USD
CY2016Q4	eltp	Change In Fair Value Of Warrant Derivatives ChangeInFairValueOfWarrantDerivatives	1571471	USD
CY2016Q4	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	1519059	USD
CY2017Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
	eltp	Change In Value Of Convertible Preferred Share Mezzanine Equity ChangeInValueOfConvertiblePreferredShareMezzanineEquity	0	USD
	eltp	Change In Value Of Convertible Preferred Share Mezzanine Equity ChangeInValueOfConvertiblePreferredShareMezzanineEquity	20714286	USD
CY2016Q4	us-gaap	Revenue Other Manufactured Products RevenueOtherManufacturedProducts	1885765	USD
CY2016Q4	eltp	Change In Value Of Convertible Preferred Share Mezzanine Equity ChangeInValueOfConvertiblePreferredShareMezzanineEquity	0	USD
	eltp	Change In Fair Value Of Warrant Derivatives ChangeInFairValueOfWarrantDerivatives	4767884	USD
	eltp	Change In Fair Value Of Warrant Derivatives ChangeInFairValueOfWarrantDerivatives	9468320	USD
CY2017Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	31770	USD
CY2017Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	221657	USD
CY2017Q4	us-gaap	Depreciation Depreciation	285496	USD
CY2017Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	283086	USD
CY2016Q4	us-gaap	Depreciation Depreciation	166602	USD
	us-gaap	Depreciation Depreciation	696126	USD
CY2017Q4	us-gaap	Operating Expenses OperatingExpenses	3174586	USD
	us-gaap	Revenue Other Manufactured Products RevenueOtherManufacturedProducts	6470697	USD
	us-gaap	License And Services Revenue LicenseAndServicesRevenue	1700856	USD
	us-gaap	License And Services Revenue LicenseAndServicesRevenue	1816796	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	5861805	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	8287493	USD
	us-gaap	Cost Of Revenue CostOfRevenue	3049830	USD
	us-gaap	Cost Of Revenue CostOfRevenue	5755997	USD
	us-gaap	Gross Profit GrossProfit	2811975	USD
	us-gaap	Gross Profit GrossProfit	2531496	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	6944182	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	4312337	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2068028	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2060380	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	208719	USD
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	258954	USD
	us-gaap	Operating Expenses OperatingExpenses	9242078	USD
	us-gaap	Operating Expenses OperatingExpenses	6696079	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-6430103	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-4164583	USD
	us-gaap	Interest Expense InterestExpense	245730	USD
	us-gaap	Interest Expense InterestExpense	181883	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	12862	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	9407	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	4535016	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	9295844	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-1895087	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	5131261	USD
	us-gaap	Net Income Loss NetIncomeLoss	-843758	USD
	us-gaap	Net Income Loss NetIncomeLoss	7001375	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-843758	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	27715661	USD
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.00
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.03
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.01
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.00
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	796647284	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	811794206	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	803327285	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	817536320	shares
	eltp	Stock Issued During Period Value Execution Of Warrants StockIssuedDuringPeriodValueExecutionOfWarrants	181908	USD
	eltp	Stock Issued During Period Value Initial Issues StockIssuedDuringPeriodValueInitialIssues	919732	USD
	eltp	Stock Issued During Period Value Additional Issues StockIssuedDuringPeriodValueAdditionalIssues	22922	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	1208100	USD
	us-gaap	Adjustments To Additional Paid In Capital Stock Issued Issuance Costs AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	992610	USD
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	208719	USD
	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	20378631	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	706759	USD
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	504932	USD
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-4767884	USD
	us-gaap	Fair Value Adjustment Of Warrants FairValueAdjustmentOfWarrants	-9468320	USD
	eltp	Accrued Compensation Non Cash AccruedCompensationNonCash	925000	USD
	eltp	Accrued Compensation Non Cash AccruedCompensationNonCash	1232950	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-985619	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	227181	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-1117023	USD
	eltp	Increase Decrease In Prepaid And Other Current Assets IncreaseDecreaseInPrepaidAndOtherCurrentAssets	622480	USD
	eltp	Increase Decrease In Deferred Revenue And Customer Deposits IncreaseDecreaseInDeferredRevenueAndCustomerDeposits	-760000	USD
	us-gaap	Conversion Of Stock Amount Issued1 ConversionOfStockAmountIssued1	0	USD
	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	208719	USD
	us-gaap	Stock Option Plan Expense StockOptionPlanExpense	272705	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	2735085	USD
	eltp	Increase Decrease In Prepaid And Other Current Assets IncreaseDecreaseInPrepaidAndOtherCurrentAssets	388915	USD
CY2017Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	5911223	USD
CY2017Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	6946	USD
CY2017Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	126663	USD
CY2017Q1	eltp	Accumulated Amortization Of Bond AccumulatedAmortizationOfBond	164231	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-434885	USD
	eltp	Increase Decrease In Deferred Revenue And Customer Deposits IncreaseDecreaseInDeferredRevenueAndCustomerDeposits	-759997	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3795644	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-3807871	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-378206	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-812054	USD
	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	291115	USD
	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	804762	USD
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	85518	USD
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	7292	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	181908	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	1856480	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	823545	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	6391108	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-3350305	USD
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	1771183	USD
CY2016Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	11512179	USD
CY2016Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13283362	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	460338	USD
	eltp	Commitment Shares Issued CommitmentSharesIssued	942654	USD
	eltp	Commitment Shares Issued CommitmentSharesIssued	69425	USD
	us-gaap	Noncash Or Part Noncash Acquisition Debt Assumed1 NoncashOrPartNoncashAcquisitionDebtAssumed1	498604	USD
	us-gaap	Noncash Or Part Noncash Acquisition Debt Assumed1 NoncashOrPartNoncashAcquisitionDebtAssumed1	308834	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	0	USD
	us-gaap	Proceeds From Repayments Of Lines Of Credit ProceedsFromRepaymentsOfLinesOfCredit	-718309	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	1573	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	0	USD
	us-gaap	Notes Issued1 NotesIssued1	1200000	USD
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CY2017Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	100000	shares
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	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-1051329	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-1870114	USD
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CY2017Q1	us-gaap	Inventory Gross InventoryGross	6415966	USD
CY2017Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	17255876	USD
CY2017Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	16466156	USD
CY2017Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	6419091	USD
	eltp	Intangible Assets Excluding Goodwill Acquired IntangibleAssetsExcludingGoodwillAcquired	1285518	USD
CY2017Q1	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	6411799	USD
CY2017	eltp	Intangible Assets Excluding Goodwill Acquired IntangibleAssetsExcludingGoodwillAcquired	7292	USD
CY2017Q4	us-gaap	Deferred Revenue DeferredRevenue	2518890	USD
CY2017Q1	us-gaap	Deferred Revenue DeferredRevenue	3278890	USD
	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;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>NOTE 10. COMMITMENTS AND CONTINGENCIES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><i>Operating Leases 135 Ludlow Ave.</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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”).</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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 December 31, 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 and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">164,727</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">135,639</font> for the nine months ended December 31, 2017 and 2016, respectively. Rent expense is recorded in general and administrative expense in the unaudited condensed consolidated statements of operations. Deferred rent as of December 31, 2017 and March 31, 2017 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,604</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.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;BACKGROUND-COLOR: transparent; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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 December 31, 2017, and March 31, 2017, the Company had a liability of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">30,976</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.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	290189	USD
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	17671	USD
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	49956	USD
CY2017Q4	eltp	Bond Issue Costs BondIssueCosts	354453	USD
CY2017Q1	eltp	Bond Issue Costs BondIssueCosts	354453	USD
CY2017Q4	eltp	Unamortization Of Bond UnamortizationOfBond	179589	USD
CY2017Q1	eltp	Unamortization Of Bond UnamortizationOfBond	190222	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	1.21	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	1.23	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
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.022	pure
	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	Fair Value Inputs Preferred Stock Trials FairValueInputsPreferredStockTrials	200000	shares
CY2016Q4	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.00
CY2016Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.00
	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	431507	USD
	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.

Files In Submission

Name	View Source	Status
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$ELTP
ELITE PHARMACEUTICALS INC /NV/ Stock $eltp

2017 Q4 Form 10-Q Financial Statement

#000114420418006977 Filed on February 09, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ELTP ELITE PHARMACEUTICALS INC /NV/ Stock $eltp

2017 Q4 Form 10-Q Financial Statement

#000114420418006977 Filed on February 09, 2018

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ELTP
ELITE PHARMACEUTICALS INC /NV/ Stock $eltp