{"id":4852,"date":"2014-07-01T15:14:12","date_gmt":"2014-07-01T15:14:12","guid":{"rendered":"\/?p=4852"},"modified":"2014-07-01T15:14:18","modified_gmt":"2014-07-01T15:14:18","slug":"elite-pharmaceuticals-inc-otcbbeltp-stumbles-after-annual-report","status":"publish","type":"post","link":"\/articles\/elite-pharmaceuticals-inc-otcbbeltp-stumbles-after-annual-report\/","title":{"rendered":"Elite Pharmaceuticals, Inc. (OTCBB:ELTP) Stumbles After Annual Report"},"content":{"rendered":"\n<div><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/83ELTP.png\" border=\"0\" width=\"450\" height=\"201\" \/>Elite Pharmaceuticals, Inc. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a>) looked like it had more or less stabilized in the last two sessions, but once the company filed its latest financial report, it turned red once more.<\/div>\n<div><\/div>\n<div>Truth be told, the 10-K that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a><\/strong> filed for the period ended March 31, 2014 doesn&#8217;t appear all that bad. A quick glance at the financial columns reveals the following numbers: <\/div>\n<div>\n<ul>\n<li>Cash &#8211; $6.9 million<\/li>\n<li>Total Current Assets &#8211; $9.9 million<span style=\"white-space: pre;\"> <\/span>&nbsp;&nbsp;<\/li>\n<li>Total Current Liabilities &#8211; $6.1 million &nbsp;<\/li>\n<li>Total Liabilities &#8211; $105.5 million<\/li>\n<li>Total Revenues &ndash; $4.6 million<\/li>\n<li>Cost of revenues &#8211; $3.2 million &nbsp;<\/li>\n<li>Total Operating Expenses &#8211; $6.6 million<\/li>\n<li><strong>Net loss &ndash; $91 MILLION<\/strong><\/li>\n<\/ul><\/div>\n<div>It was most likely the net loss figure of $91 million that shocked investors away from the company&#8217;s stock, and that&#8217;s understandable &ndash; the sum is outrageously high, to be sure. However, once it becomes clear that $56.5 million of that total can be attributed to &ldquo;<em>Change in fair value of preferred share derivatives<\/em>&rdquo; and $32.9 million is due to &ldquo;<em>Change in fair value of warrant derivatives<\/em>&rdquo;, the picture becomes much more reasonable. That is not to say it is necessarily pretty, but it seems bearable.<\/div>\n<div><\/div>\n<div>As it is, $6.1 million in current liabilities does not seem too much for a company with $9.9 million in assets, especially by the standards of the OTC Markets.&nbsp;<\/div>\n<div><\/div>\n<div>True, when you draw the final line, it turns out that <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> <\/strong>has spent the the last year turning $6.6 million into $4.6 million worth of revenues, which resulted in a Gross Profit of $1.3 million. However, <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> <\/strong>is actually making serious revenues AND it finished the year with nearly $7 million in CASH ON HAND. That&#8217;s certainly more than most other OTC Markets pharmaceutical companies can boast &ndash; so <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> <\/strong>certainly has that much going for it.<\/div>\n<div><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/03ELTP_LOGO.png\" border=\"0\" width=\"120\" height=\"77\" \/>As it stood, yesterday investors were obviously unimpressed with this state of developments. It seems that today will be different &ndash; <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a> <\/strong>is already 4% up in the current trading session.<\/div>\n<div><\/div>\n<div>Another pharmaceutical company that turned red yesterday and appears to be struggling to recover some ground today is Brainstorm Cell Therapeutics Inc (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=BCLI\">BCLI<\/a>).<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Elite Pharmaceuticals, Inc. (OTCBB:ELTP) looked like it had more or less stabilized in the last two sessions, but once the company filed its latest financial report, it turned red once more. Truth be told,&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[290,797],"class_list":["post-4852","post","type-post","status-publish","format-standard","hentry","category-news","tag-bcli","tag-eltp"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4852"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4852\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}