Filed Pursuant to Rule 424(b)(3)
Registration No. 333-188139
PROSPECTUS SUPPLEMENT
Number 4
to
Prospectus dated June 27, 2013
of
ELITE PHARMACEUTICALS, INC.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
This Prospectus Supplement No. 4 supplements the information provided in our Prospectus dated June 27, 2013 as previously supplemented by Supplement No. 3 dated November 15, 2013, Supplement No. 2 dated August 14, 2013 and Supplement No. 1 dated August 5, 2013. This Prospectus Supplement should be read in conjunction with that Prospectus, which is to be delivered with this Prospectus Supplement.
This Prospectus Supplement includes our Quarterly Report on Form 10-Q for the period ended December 31, 2013, filed with the Securities and Exchange Commission on February 14, 2014.
The date of this Prospectus Supplement is February 14, 2014.
x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended | December 31, 2013 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period ended | to |
Commission File Number: 001-15697 |
ELITE PHARMACEUTICALS, INC. |
(Exact name of registrant as specified in its charter) |
Nevada | 22-3542636 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
165 Ludlow Avenue, Northvale, New Jersey | 07647 | |
(Address of principal executive offices) | (Zip Code) |
(201) 750-2646 |
(Registrant's telephone number, including area code) |
Large Accelerated filer ¨ | Accelerated Filer ¨ | Non-Accelerated Filer ¨ | Smaller Reporting Company x |
Page No. | ||
PART I – FINANCIAL INFORMATION | ||
Item 1. | Financial Statements | |
Condensed Consolidated Balance Sheets as of December 31, 2013 (unaudited) and March 31, 2013 (audited) | F-1 | |
Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2013 (unaudited) and December 31, 2012 (unaudited) | F-3 | |
Condensed Consolidated Statement of Changes in Stockholders’ Deficit for the nine months ended December 31, 2013 (unaudited) | F-4 | |
Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2013 (unaudited) and December 31, 2012 (unaudited) | F-5 | |
Notes to Condensed Consolidated Financial Statements | F-6 | |
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 1 |
Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 18 |
Item 4. | Controls and Procedures | 18 |
PART II – OTHER INFORMATION | ||
Item 1. | Legal Proceedings | 19 |
Item 1A. | Risk Factors | 19 |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 19 |
Item 3. | Defaults upon Senior Securities | 19 |
Item 4. | Mine Safety Disclosures | 19 |
Item 5. | Other Information | 20 |
Item 6. | Exhibits | 20 |
SIGNATURES | 27 |
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
(Unaudited) | (Audited) | ||||||
ASSETS | |||||||
CURRENT ASSETS | |||||||
Cash | $ | 1,080,792 | $ | 369,023 | |||
Accounts receivable (net of allowance for doubtful accounts of -0-) | 1,024,284 | 665,154 | |||||
Inventories (net of reserve of -0- and $93,338, respectively) | 1,531,645 | 1,358,146 | |||||
Prepaid expenses and other current assets | 281,065 | 151,051 | |||||
Total Current Assets | 3,917,786 | 2,543,374 | |||||
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $5,391,686 and $5,068,522, respectively | 4,116,597 | 4,028,943 | |||||
INTANGIBLE ASSETS – net of accumulated amortization of $-0- | 6,314,621 | 694,426 | |||||
OTHER ASSETS | |||||||
Investment in Novel Laboratories, Inc. | 3,329,322 | 3,329,322 | |||||
Security deposits | 35,083 | 14,314 | |||||
Restricted cash – debt service for EDA bonds | 327,014 | 267,820 | |||||
EDA bond offering costs, net of accumulated amortization of $118,153 and $107,519, respectively | 236,300 | 246,934 | |||||
Total Other Assets | 3,927,719 | 3,858,390 | |||||
TOTAL ASSETS | $ | 18,276,723 | $ | 11,125,133 |
F-1 | ||
December 31, | March 31, | ||||||
2013 | 2013 | ||||||
(Unaudited) | (Audited) | ||||||
LIABILITIES AND STOCKHOLDERS’ DEFICIT | |||||||
CURRENT LIABILITIES | |||||||
EDA bonds payable | $ | 3,385,000 | $ | 3,385,000 | |||
Short term loans and current portion of long-term debt | 1,177 | 6,296 | |||||
Convertible Note Payable (net of debt discount of $3,932,879 and -0-, respectively | 6,067,121 | -0- | |||||
Derivative Liability – convertible note payable | 727,273 | -0- | |||||
Related Party Line of Credit | 320,148 | 600,000 | |||||
Accounts payable and accrued expenses | 1,990,728 | 1,325,126 | |||||
Deferred revenues | 13,333 | 13,333 | |||||
Preferred share derivative interest payable | 480 | 27,500 | |||||
Total Current Liabilities | 12,505,260 | 5,357,255 | |||||
LONG TERM LIABILITIES | |||||||
Deferred revenues | 142,223 | 152,223 | |||||
Other long term liabilities | 98,340 | 91,571 | |||||
Derivative liability – preferred shares | 19,200 | 6,334,621 | |||||
Derivative liability – warrants | 10,439,126 | 7,862,848 | |||||
Total Long Term Liabilities | 10,698,889 | 14,441,263 | |||||
TOTAL LIABILITIES | 23,204,149 | 19,798,518 | |||||
STOCKHOLDERS’ DEFICIT | |||||||
Common stock – par value $0.001, Authorized 690,000,000 shares. Issued 513,217,800 shares and 374,493,959 shares, respectively. Outstanding 513,117,800 shares and 374,393,959 shares, respectively | 513,219 | 374,495 | |||||
Additional paid-in-capital | 133,075,266 | 119,690,336 | |||||
Accumulated deficit | (138,209,070) | (128,431,375) | |||||
Treasury stock at cost (100,000 common shares) | (306,841) | (306,841) | |||||
TOTAL STOCKHOLDERS’ DEFICIT | (4,927,426) | (8,673,385) | |||||
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ | 18,276,723 | $ | 11,125,133 |
F-2 | ||
THREE MONTHS ENDED | NINE MONTHS ENDED | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
REVENUES | |||||||||||||
Manufacturing Fees | $ | 891,838 | $ | 400,494 | $ | 2,356,619 | $ | 1,246,210 | |||||
Royalties & Profit Splits | 743,125 | 156,454 | 1,147,958 | 439,117 | |||||||||
Lab Fee Revenues | 58,283 | 110,734 | 69,255 | 195,427 | |||||||||
Total Revenues | 1,693,246 | 667,682 | 3,573,832 | 1,880,754 | |||||||||
COSTS OF REVENUES | 994,582 | 266,792 | 2,190,229 | 1,200,787 | |||||||||
Gross Profit | 698,664 | 400,890 | 1,383,603 | 679,967 | |||||||||
OPERATING EXPENSES | |||||||||||||
Research and Development | 1,290,858 | 238,268 | 2,715,126 | 663,625 | |||||||||
General and Administrative | 494,469 | 380,976 | 1,143,487 | 1,147,112 | |||||||||
Non-cash compensation through issuance of stock options | 23,662 | 15,133 | 52,085 | 36,379 | |||||||||
Depreciation and Amortization | 126,827 | 40,723 | 372,227 | 108,094 | |||||||||
Total Operating Expenses | 1,935,816 | 675,100 | 4,282,925 | 1,955,210 | |||||||||
(LOSS) FROM OPERATIONS | (1,237,152) | (274,210) | (2,899,322) | (1,275,243) | |||||||||
OTHER INCOME / (EXPENSES) | |||||||||||||
Interest expense, net | (359,130) | (63,924) | (689,852) | (183,709) | |||||||||
Change in fair value of warrant derivatives | 656,844 | 5,765,992 | (2,576,278) | 2,770,912 | |||||||||
Change in fair value of preferred share derivatives | 4,228 | 3,963,126 | (3,462,104) | (867,741) | |||||||||
Change in fair value of convertible note derivative | (127,273) | — | (127,273) | — | |||||||||
Interest expense attributable to preferred share derivatives | 632 | (27,818) | (40,428) | (111,719) | |||||||||
Discount in Series E issuance attributable to beneficial conversion features | — | — | — | (437,500) | |||||||||
Other Income | — | — | 19,831 | — | |||||||||
Total Other Income / (Expense) | 175,301 | 9,637,376 | (6,876,104) | 1,170,243 | |||||||||
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES | (1,061,851) | 9,363,166 | (9,775,426) | (105,000) | |||||||||
PROVISION FOR INCOME TAXES | — | — | (2,269) | (4,023) | |||||||||
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ | (1,061,851) | $ | 9,363,166 | $ | (9,777,695) | $ | (109,023) | |||||
NET INCOME (LOSS) PER SHARE | |||||||||||||
Basic | $ | (0.00) | $ | 0.03 | $ | (0.02) | $ | (0.00) | |||||
Diluted | $ | (0.00) | $ | (0.00) | $ | (0.02) | $ | (0.00) | |||||
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING | |||||||||||||
Basic | 508,638,816 | 350,220,224 | 439,720,987 | 345,384,514 | |||||||||
Diluted | 508,638,816 | 486,207,413 | 439,720,987 | 345,384,514 |
F-3 | ||
Additional | ||||||||||||||||||||||
Common Stock | Paid-In | Treasury Stock | Accumulated | Stockholders’ | ||||||||||||||||||
Shares | Amount | Capital | Shares | Amount | Deficit | Deficit | ||||||||||||||||
Balance at March 31, 2013 | 374,493,959 | $ | 374,495 | $ | 119,690,336 | 100,000 | $ | (306,841) | $ | (128,431,375) | $ | (8,673,385) | ||||||||||
Net Loss | (9,777,695) | (9,777,695) | ||||||||||||||||||||
Common shares sold pursuant to the Lincoln Park Capital purchase agreement | 39,630,813 | 39,631 | 3,470,369 | 3,510,000 | ||||||||||||||||||
Common shares issued in lieu of cash in payment of preferred share derivative interest expense | 873,518 | 874 | 66,575 | 67,449 | ||||||||||||||||||
Conversion of Series C, Series E and Series G Preferred Shares into Common Shares | 91,628,937 | 91,629 | 9,685,895 | 9,777,524 | ||||||||||||||||||
Non-cash compensation through the issuance of stock options | 52,085 | 52,085 | ||||||||||||||||||||
Costs associated with raising capital | (47,987) | (47,987) | ||||||||||||||||||||
Common shares issued as commitment shares pursuant to the Lincoln Park Capital purchase agreement | 3,957,239 | 3,957 | (3,957) | — | ||||||||||||||||||
Common shares issued pursuant to the exercise of cash warrants | 2,633,334 | 2,633 | 161,950 | 164,583 | ||||||||||||||||||
Balance at December 31, 2013 | 513,217,800 | $ | 513,219 | $ | 133,075,266 | 100,000 | $ | (306,841) | $ | (138,209,070) | $ | (4,927,426) |
F-4 | ||
NINE MONTHS ENDED DECEMBER 31 | |||||||
2013 | 2012 | ||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
Net Loss | $ | (9,777,695) | $ | (109,023) | |||
Adjustments to reconcile net loss to cash used in operating activities: | |||||||
Depreciation and amortization | 334,277 | 330,543 | |||||
Change in fair value of warrant derivative liability | 2,576,278 | (2,770,912) | |||||
Change in fair value of preferred share derivative liability | 3,462,104 | 867,741 | |||||
Change in fair value of convertible note derivative | 127,273 | — | |||||
Discount in Series E issuance attributable to embedded beneficial conversion feature | — | 437,500 | |||||
Preferred share derivative interest satisfied by the issuance of common stock | 67,449 | 155,184 | |||||
Non-cash compensation accrued | 344,500 | 190,000 | |||||
Non-Cash Interest Expense | 469,805 | — | |||||
Non-cash compensation from the issuance of options | 52,085 | 36,379 | |||||
Non-cash rent expense | 5,698 | 7,215 | |||||
Non-cash lease accretion | 1,070 | 1,008 | |||||
Changes in Assets and Liabilities | |||||||
Accounts receivable | (359,130) | (129,539) | |||||
Inventories | (173,499) | (679,549) | |||||
Prepaid and other current assets | (150,783) | 62,425 | |||||
Accounts payable, accrued expenses and other current liabilities | 315,980 | 137,640 | |||||
Deferred revenues and Customer deposits | (10,000) | 40,130 | |||||
Derivative interest payable | (27,020) | (43,466) | |||||
NET CASH USED IN OPERATING ACTIVITIES | (2,741,608) | (1,466,724) | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
Purchases of property and equipment | (379,615) | (110,787) | |||||
Cost of leasehold improvements | (31,682) | (32,801) | |||||
Costs incurred for intellectual property assets | (22,878) | (40,001) | |||||
Deposits to / (withdrawals from) restricted cash, net | (59,194) | (62,466) | |||||
NET CASH USED IN INVESTING ACTIVITIES | (493,369) | (246,055) | |||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
Proceeds from issuance of Series E Convertible Preferred Stock | — | 437,500 | |||||
Proceeds from sale of common shares to Lincoln Park Capital | 3,510,000 | — | |||||
Proceeds from exercise of cash warrants | 164,583 | 187,500 | |||||
Proceeds from draws against credit lines from related parties | 320,150 | 500,000 | |||||
Other loan payments | — | (5,117) | |||||
Costs associated with raising capital | (47,987) | (9,856) | |||||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 3,946,746 | 1,110,027 | |||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 711,769 | (602,752) | |||||
CASH AND CASH EQUIVALENTS – beginning of period | 369,023 | 668,407 | |||||
CASH AND CASH EQUIVALENTS – end of period | $ | 1,080,792 | $ | 65,655 | |||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||||||
Cash paid for interest | $ | 160,680 | $ | 115,623 | |||
Cash paid for taxes | 2,269 | 4,023 | |||||
Non-Cash Financing Transactions | |||||||
Commitment shares issued to Lincoln Park Capital | 320,522 | — | |||||
Conversion of Preferred Shares to Common Shares | 9,777,524 | — | |||||
Acquisition of intellectual property | 5,597,317 | — | |||||
Convertible note payable | 5,597,317 | — | |||||
Issuance of note payable to related party in payment of balance due on line of credit owed to the same related party | 600,000 |
F-5 | ||
NOTE 1 - | DEFINITIONS |
Common Shares Issued |
4,295 |
Payment Date | Amount | ||
September 1, 2010 | 225,000 | ||
September 1, 2011 | 470,000 | ||
September 1, 2012 | 730,000 | ||
September 1, 2013 | 915,000 |
F-6 | ||
Payment Date | Amount | |||
March 1, 2009 | $ | 120,775 | ||
September 1, 2009 | 120,775 | |||
March 1, 2010 | 113,075 | |||
September 1, 2010 | 113,075 | |||
March 1, 2011 | 113,075 | |||
September 1, 2011 | 113,075 | |||
March 1, 2012 | 113,075 | |||
September 1, 2012 | 113,075 | |||
March 1, 2013 | 113,075 | |||
September 1, 2013 | 113,075 |
Payment Date | Amount | ||
September 1, 2009 | 210,000 |
NOTE 2 - | BASIS OF PRESENTATION AND LIQUIDITY |
F-7 | ||
Cash reserves (“Cash Reserves”) | $ | 1.1 | million | |
Working capital deficit (“Working Capital Deficit”) | $ | 8.6 | million | |
Losses from operations for the Current Quarter | $ | 1.2 | million | |
Other income for the Current Quarter | $ | 0.2 | million | |
Net loss for the Current Quarter | $ | 1.1 | million | |
NJEDA Bonds Payable (“Current Bond Liability”) | $ | 3.4 | million |
F-8 | ||
F-9 | ||
Three Months Ended | Nine Months Ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Initial commitment shares issued | — | — | 2,929,115 | — | |||||||||
Additional commitment shares issued | 471,590 | — | 1,028,124 | — | |||||||||
Purchased shares issued | 13,774,792 | — | 39,630,813 | — | |||||||||
Proceeds from purchased shares | $ | 1,610,000 | — | $ | 3,510,000 | $ | — |
F-10 | ||
NOTE 3 - | CASH |
NOTE 4 - | INVENTORIES |
December 31, 2013 | March 31, 2013 | ||||||
Raw Materials | $ | 978,192 | $ | 774,758 | |||
Work-in-Process | 553,453 | 676,726 | |||||
Finished Goods | — | — | |||||
Less: Inventory Reserve | — | (93,338) | |||||
Total Inventory | $ | 1,531,645 | $ | 1,358,146 |
NOTE 5 - | INTANGIBLE ASSETS |
Patent | Total | |||||||||
Application | ANDA | Intangible | ||||||||
Costs | Acquisitions | Assets | ||||||||
Intangible Assets as of March 31, 2013 | $ | 244,424 | $ | 450,000 | $ | 694,424 | ||||
Costs Capitalized During Current Fiscal Year | ||||||||||
Three months ended June 30, 2013 | 18,498 | — | 18,498 | |||||||
Three months ended September 30, 2013 | 3,765 | 5,597,317 | 5,601,082 | |||||||
Three months ended December 31, 2013 | 617 | — | 617 | |||||||
Total Costs Capitalized-nine months ended December 31, 2013 | 22,880 | 5,597,317 | 5,620,197 | |||||||
Amortization of Intangible Assets During Current Fiscal Year | ||||||||||
Three months ended June 30, 2013 | — | — | — | |||||||
Three months ended September 30, 2013 | — | — | — | |||||||
Three months ended December 31, 2013 | — | — | — | |||||||
Total Amortization – nine months ended December 31, 2013 | — | — | — | |||||||
Intangible Assets as of December 31, 2013 | $ | 267,304 | $ | 6,047,317 | $ | 6,314,621 |
F-11 | ||
NOTE 6 - | NJEDA BONDS |
Principal | ||||||||||
Amount | ||||||||||
On | Interest | |||||||||
Description | Issue Date | Rate | Maturity | |||||||
Series A Note | 3,660,000 | 6.50 | % | September 1, 2030 | ||||||
Series B Note | 495,000 | 9.0 | % | September 1, 2012 |
Description | Amount | |||
Series A Note Proceeds | $ | 366,000 | ||
Series B Note Proceeds | 49,500 | |||
Total | $ | 415,500 |
F-12 | ||
Balances | |||||||||
As of | |||||||||
Balances As of | Amortization Expense | Current Balance Sheet | |||||||
Description | March 31, 2013 | Current YTD | Date | ||||||
Bond Issue Costs | $ | 354,453 | $ | 354,453 | |||||
Accumulated Amortization | (107,519) | (10,634) | (118,153) | ||||||
Unamortized Balance | $ | 246,934 | $ | 236,300 |
Payment Date | Amount | |||
March 1, 2009 | $ | 120,775 | ||
September 1, 2009 | 120,775 | |||
March 1, 2010 | 113,075 | |||
September 1, 2010 | 113,075 | |||
March 1, 2011 | 113,075 | |||
September 1, 2011 | 113,075 | |||
March 1, 2012 | 113,075 | |||
September 1, 2012 | 113,075 | |||
March 1, 2013 | 113,075 | |||
September 1, 2013 | 113,075 |
Payment Date | Amount | |||
September 1, 2009 | $ | 210,000 |
F-13 | ||
Payment Date | Amount | ||||
September 1, 2010 | $ | 225,000 | (1) | ||
September 1, 2011 | 470,000 | (2) | |||
September 1, 2012 | 730,000 | (3) | |||
September 1, 2013 | 915,000 | (4) |
(1) | The Company request to withdraw funds from the debt service reserve to pay the amount due on September 1, 2010 was denied by the Trustee and accordingly, the principal payment due on such date was not made. | |
(2) | The principal payment due on September 1, 2011, included the amount due and September 1, 2010 and not paid. There were not sufficient funds available in the debt service reserve and the principal payment due on September 1, 2011 was not made. | |
(3) | The principal payment due on September 1, 2012, included the amount due and September 1, 2011 and not paid. There were not sufficient funds available in the debt service reserve and the principal payment due on September 1, 2012 was not made. | |
(4) | The principal payment due on September 1, 2013, included the amount due and September 1, 2012 and not paid. There were not sufficient funds available in the debt service reserve and the principal payment due on September 1, 2013 was not made. |
NOTE 7 - | DERIVATIVE LIABILITIES |
Preferred Stock Derivative Liability as of Current Balance Sheet Date | |||||||||||||
Series C | Series E | Series G | Total | ||||||||||
Preferred Shares Authorized | 3,200 | 4,000 | 1,375 | 8,575 | |||||||||
Preferred shares Outstanding | 24 | — | — | 24 | |||||||||
Underlying common shares into which Preferred may convert | 160,000 | — | — | 160,000 | |||||||||
Closing price on valuation date | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.12 | |||||
Preferred stock derivative liability at Current Balance Sheet Date | $ | 19,824 | — | — | $ | 19,824 | |||||||
Preferred stock derivative liability at March 31, 2013 | $ | 697,584 | $ | 5,637,037 | — | $ | 6,334,621 |
F-14 | ||
CHANGE IN VALUE OF PREFERRED STOCK DERIVATIVE LIABILITY | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Change in Preferred Stock Derivative Liability | $ | 4,228 | $ | 3,963,126 | $ | (3,462,104) | $ | (867,741) |
FAIR VALUE OF WARRANT DERIVATIVE LIABILITY | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||
Risk-Free interest rate | 0.04% - 0.77 | % | 0.02% - 1.41 | % | 0.03% - 1.39 | % | ..01% - 1.26 | % | |||||||||
Expected volatility | 106% - 168 | % | 35% - 97 | % | 62% - 117 | % | 70% - 124 | % | |||||||||
Expected life (in years) | 0.5 – 5.1 | 0.2 – 4.8 | 0.8 – 4.6 | 0.5 – 4.3 | |||||||||||||
Expected dividend yield | — | — | — | — | |||||||||||||
Number of warrants | 139,344,939 | 139,344,939 | 120,491,539 | 117,958,205 | |||||||||||||
Fair Value of Warrant Derivative Liability | $ | 7,862,848 | $ | 4,966,391 | $ | 11,095,970 | $ | 10,439,126 |
CHANGE IN VALUE OF WARRANT DERIVATIVE LIABILITY | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31 | December 31 | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Change in Warrant Derivative Liability | $ | 656,844 | $ | 5,765,992 | $ | (2,576,278) | $ | 2,770,912 |
NOTE 8 - | PREFERRED SHARE DERIVATIVE INTEREST PAYABLE |
F-15 | ||
NOTE 9 - | OPERATING LEASES |
Fiscal year ended March 31, 2014 | 83,259 | |||
Fiscal year ended March 31, 2015 | 85,344 | |||
Fiscal year ended March 31, 2016 | 87,363 | |||
Fiscal year ended March 31, 2017 | 89,112 | |||
Fiscal year ended March 31, 2018 | 90,894 | |||
Total Minimum 5 year lease payments | $ | 435,972 |
RENT EXPENSE | |||||||||||||
Three months ended | Nine months ended | ||||||||||||
December 31, | December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Rent Expense | $ | 22,584 | $ | 22,584 | $ | 67,753 | $ | 67,753 | |||||
Change in deferred rent liability | $ | 1,899 | $ | 2,403 | $ | 5,698 | $ | 7,215 |
DEFERRED RENT LIABILITY (LONG-TERM LIABILITY) | |||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||
Balance of Deferred Rent Liability | $ | 68,260 | $ | 70,160 | $ | 72,062 | $ | 73,961 |
NOTE 10 - | DEFERRED REVENUES |
Advance payment received | $ | 200,000 | ||
Total revenue recognized as of March 31, 2013 | (34,444) | |||
Revenue recognized nine months ended December 31, 2013 | (10,000) | |||
Total Deferred Revenues as of Current Balance Sheet Date | $ | 155,556 | ||
Current Portion of Deferred Revenues as of Current Balance Sheet Date | $ | 13,333 | ||
Non-Current Portion of Deferred Revenues as of Current Balance Sheet Date | $ | 142,223 |
F-16 | ||
NOTE 11 - | STOCKHOLDERS’ EQUITY |
Shares | ||||
Of | ||||
Description | Common Stock | |||
Common Shares issued in lieu of cash in payment of Preferred Share Derivative Interest | 873,518 | |||
Common Shares issued pursuant to the conversion of Series C, Series E and Series G Preferred Share derivatives | 91,628,937 | |||
Common shares sold pursuant to the LPC Purchase Agreement | 39,630,813 | |||
Common shares issued as commitment shares pursuant to the LPC Purchase Agreement | 3,957,239 | |||
Common shares issued pursuant to the exercise of cash warrants | 2,633,334 | |||
Total Common Shares issued during the Current YTD | 138,723,841 |
Number of Options | Range of Exercise Prices | ||||||
Vested Options | 2,203,999 | $0.06 to $2.75 | |||||
Non-Vested Options | 3,540,001 | $0.07 to $0.12 |
F-17 | ||
NOTE 12 - | PER SHARE INFORMATION |
For the Three Months | For the Nine Months | ||||||||||||
Ended December 31, | Ended December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Numerator | |||||||||||||
Net Income (loss) attributable to common shareholders - Basic | $ | (1,061,851) | $ | 9,363,166 | $ | (9,777,695) | $ | (109,023) | |||||
Net Income attributable to common shareholders - Diluted | n/a | (365,952) | n/a | n/a | |||||||||
Denominator | |||||||||||||
Weighted-average shares of common stock outstanding | 508,638,816 | 350,220,224 | 439,720,987 | 345,384,514 | |||||||||
Dilutive effect of stock options, warrants and convertible securities | n/a | 135,987,189 | n/a | n/a | |||||||||
Net (loss) income per share | |||||||||||||
Basic | $ | (0.00) | $ | 0.03 | $ | (0.02) | $ | (0.00) | |||||
Diluted | $ | (0.00) | $ | (0.00) | $ | (0.02) | $ | (0.00) |
NOTE 13 - | RELATED PARTY TRANSACTION -BORROWING AGAINST THE TREPPEL AND HAKIM CREDIT LINES |
NOTE 14- | RELATED PARTY TRANSACTION – MIKAH PURCHASE AGREEMENT AND NOTE PAYABLE; HAKIM EMPLOYMENT AGREEMENT |
F-18 | ||
Face value of Note | $ | 10,000,000 | ||
Net present value of Note at date of issuance | 5,597,317 | |||
Aggregate cost of ANDA’s acquired | 5,597,317 | |||
Debt discount at date of Note issuance | 4,140,018 |
F-19 | ||
For the Three Months Ended December 31, | For the Nine Months Ended December 31, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Interest expense on note payable to Mikah Pharma LLC | $ | 286,414 | — | $ | 469,805 | — |
F-20 | ||
F-21 | ||
Issuance Date | Balance | ||||||
Nov 21, 2013 | Sheet Date | ||||||
Principal amount of Treppel Note | $ | 600,000 | $ | 600,000 | |||
Conversion Rate | $ | 0.099 | $ | 0.099 | |||
Underlying common shares into which the Treppel Note may convert | 6,060,606 | 6,060,606 | |||||
Closing price of Common Stock at valuation date | $ | 0.099 | $ | 0.12 | |||
Treppel Note derivative liability at valuation date | $ | 600,000 | $ | 727,273 | |||
Derivative expense from the change in fair value of the Treppel Note | $ | -0- | $ | 127,273 |
F-22 | ||
F-23 | ||
· | Phentermine 37.5mg tablets (“Phentermine 37.5mg”) |
⋅ | Lodrane D® Immediate Release capsules (“Lodrane D”) |
· | Methadone 10mg tablets (“Methadone 10mg”) |
⋅ | Hydromorphone Hydrochloride 8mg tablets (“Hydromorphone 8mg”) |
· | Phendimetrazine tartrate 35mg tablets (“Phendimetrazine 35mg”) |
⋅ | Phentermine 15mg capsules (“Phentermine 15mg”) |
· | Phentermine 30mg capsules (“Phentermine 30mg”) |
1 | ||
· | Naltrexone HCl 50mg tablets (“Naltrexone 50mg”) |
2 | ||
3 | ||
4 | ||
· | Phentermine HCl 37.5mg tablets (“Phentermine 37.5mg”) |
⋅ | Hydromorphone HCl 8mg tablets (“Hydromorphone 8mg”) |
· | Naltrexone HCl 50mg tablets (“Naltrexone 50mg”) |
⋅ | Phentermine HCl 15mg capsules (“Phentermine 15mg”) |
· | Phentermine HCl 30mg capsules (“Phentermine 30mg”) |
⋅ | Phendimetrazine Tartrate 35mg tablets (“Phendimetrazine 35mg”) |
5 | ||
6 | ||
7 | ||
8 | ||
· | Hi-Tech Pharmacal Co. (the “Hi-Tech Development Agreement”) |
⋅ | A Private Hong Kong based company (the “Hong Kong D&L Agreement”) |
9 | ||
10 | ||
11 | ||
12 | ||
13 | ||
14 | ||
15 | ||
16 | ||
17 | ||
18 | ||
19 | ||
20 | ||
Exhibit Number | Description | |
2.1 | Agreement and Plan of Merger between Elite Pharmaceuticals, Inc., a Delaware corporation (“Elite-Delaware”) and Elite Pharmaceuticals, Inc., a Nevada corporation (“Elite-Nevada”), incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed with the SEC on January 9, 2012. | |
3.1(a) | Articles of Incorporation of Elite-Nevada, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K filed with the SEC on January 9, 2012. | |
3.1(b) | Certificate of Incorporation of Elite-Delaware, together with all other amendments thereto, as filed with the Secretary of State of the State of Delaware, incorporated by reference to (a) Exhibit 4.1 to the Registration Statement on Form S-4 (Reg. No. 333-101686), filed with the SEC on December 6, 2002 (the “Form S-4”), (b) Exhibit 3.1 to the Company’s Current Report on Form 8-K dated July 28, 2004 and filed with the SEC on July 29, 2004, (c) Exhibit 3.1 to the Company’s Current Report on Form 8-K dated June 26, 2008 and filed with the SEC on July 2, 2008, and (d) Exhibit 3.1 to the Company’s Current Report on Form 8-K dated December 19, 2008 and filed with the SEC on December 23, 2008.* | |
3.1(c) | Certificate of Designations, Preferences and Rights of Series A Preferred Stock, as filed with the Secretary of the State of Delaware, incorporated by reference to Exhibit 4.5 to the Current Report on Form 8-K dated October 6, 2004, and filed with the SEC on October 12, 2004.* | |
3.1(d) | Certificate of Retirement with the Secretary of the State of the Delaware to retire 516,558 shares of the Series A Preferred Stock, as filed with the Secretary of State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated March 10, 2006, and filed with the SEC on March 14, 2006.* | |
3.1(e) | Certificate of Designations, Preferences and Rights of Series B 8% Convertible Preferred Stock, as filed with the Secretary of the State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated March 15, 2006, and filed with the SEC on March 16, 2006.* | |
3.1(f) | Amended Certificate of Designations of Preferences, Rights and Limitations of Series B 8% Convertible Preferred Stock, as filed with the Secretary of State of the State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated April 24, 2007, and filed with the SEC on April 25, 2007.* | |
3.1(g) | Certificate of Designations, Preferences and Rights of Series C 8% Convertible Preferred Stock, as filed with the Secretary of the State of Delaware, incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K dated April 24, 2007, and filed with the SEC on April 25, 2007.* | |
3.1(h) | Amended Certificate of Designations, Preferences and Rights of Series C 8% Convertible Preferred Stock, as filed with the Secretary of the State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated April 24, 2007, and filed with the SEC on April 25, 2007.* | |
3.1(i) | Amended Certificate of Designations of Preferences, Rights and Limitations of Series B 8% Convertible Preferred Stock, as filed with the Secretary of State of the State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated September 15, 2008, and filed with the SEC on September 16, 2008.* | |
3.1(j) | Amended Certificate of Designations, Preferences and Rights of Series C 8% Convertible Preferred Stock, as filed with the Secretary of the State of Delaware, incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K dated September 15, 2008, and filed with the SEC on September 16, 2008.* |
21 | ||
3.1(k) | Amended Certificate of Designations of Preferences, Rights and Limitations of Series D 8% Convertible Preferred Stock, as filed with the Secretary of State of the State of Delaware, incorporated by reference to Exhibit 3.3 to the Current Report on Form 8-K dated September 15, 2008, and filed with the SEC on September 16, 2008.* | |
3.1(l) | Certificate of Designation of Preferences, Rights and Limitations of Series E Convertible Preferred Stock, as filed with the Secretary of State of the State of Delaware, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K dated June 1, 2009, and filed with the SEC on June 5, 2009.* | |
3.1(m) | Amended Certificate of Designations of the Series D 8% Convertible Preferred Stock as filed with the Secretary of State of the State of Delaware on June 29, 2010, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K, dated July 1, 2010 and filed with the SEC on July 1, 2010* | |
3.1(n) | Amended Certificate of Designations of the Series E Convertible Preferred Stock as filed with the Secretary of State of the State of Delaware on June 29, 2010, incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K, dated July 1, 2010 and filed with the SEC on July 1, 2010.* | |
3.1 (o) | Certificate of Designations of the Series G Convertible Preferred Stock as filed with the Secretary of State of the State of Nevada on April 18, 2013, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated April 18, 2013 and filed with the SEC on April 22, 2013.* | |
3.1(p) | Certificate of Designations of the Series I Convertible Preferred Stock as filed with the Secretary of State of the State of Nevada on February 6, 2014, incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K, dated February 6, 2014 and filed with the SEC on February 7, 2014. | |
3.1 (q) | Certificate of Designation of the Series H Junior Participating Preferred Stock, incorporated by reference to Exhibit 2 (contained in Exhibit 1) to the Registration Statement on Form 8-A filed with the SEC on November 15, 2013. | |
3.2(a) | By-Laws of Elite-Nevada, incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K filed with the SEC on January 9, 2012. | |
3.2(b) | By-Laws of Elite-Delaware, as amended, incorporated by reference to Exhibit 3.2 to the Company’s Registration Statement on Form SB-2 (Reg. No. 333-90633) made effective on February 28, 2000 (the “Form SB-2”).* | |
4.1 | Socius Warrant to Purchase Common Stock, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed with the SEC on January 5, 2012. | |
4.2 | Form of specimen certificate for Common Stock of the Company, incorporated by reference to Exhibit 4.1 to the Form SB-2. | |
4.3 | Form of specimen certificate for Series B 8% Convertible Preferred Stock of the Company, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated March 15, 2006 and filed with the SEC on March 16, 2006.* | |
4.4 | Form of specimen certificate for Series C 8% Convertible Preferred Stock of the Company, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated April 24, 2007 and filed with the SEC on April 25, 2007.* | |
4.5 | Form of specimen certificate for Series G 8% Convertible Preferred Stock of the Company, incorporated by reference toExhibit 4.2 to the Current Report on Form 8-K, dated April 18, 2013 and filed with the SEC on April 22, 2013. | |
4.4 | Warrant to purchase 100,000 shares of Common Stock issued to DH Blair Investment Banking Corp., incorporated by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q for the period ended September 30, 2004.* |
22 | ||
4.7 | Warrant to purchase 50,000 shares of Common Stock issued to Jason Lyons incorporated by reference to Exhibit 10.3 to the Quarterly Report on Form 10-Q for the period ended June 30, 2004.* | |
4.8 | Form of Warrant to purchase shares of Common Stock issued to designees of lender with respect to financing of an equipment loan incorporated by reference to Exhibit 10.2 to the Quarterly Report on Form 10-Q for the period ended June 30, 2004.* | |
4.9 | Form of Short Term Warrant to purchase shares of Common Stock issued to purchasers in the private placement which initially closed on October 6, 2004 (the “Series A Financing”), incorporated by reference to Exhibit 4.6 to the Current Report on Form 8-K, dated October 6, 2004, and filed with the SEC on October 12, 2004.* | |
4.10 | Form of Long Term Warrant to purchase shares of Common Stock issued to purchasers in the Series A Financing, incorporated by reference to Exhibit 4.7 to the Current Report on Form 8-K, dated October 6, 2004, and filed with the SEC on October 12, 2004.* | |
4.11 | Form of Warrant to purchase shares of Common Stock issued to the Placement Agent, in connection with the Series A Financing, incorporated by reference to Exhibit 4.8 to the Current Report on Form 8-K, dated October 6, 2004, and filed with the SEC on October 12, 2004.* | |
4.12 | Form of Replacement Warrant to purchase shares of Common Stock in connection with the offer to holders of Warrants in the Series A Financing (the “Warrant Exchange”), incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated December 14, 2005, and filed with the SEC on December 20, 2005.* | |
4.13 | Form of Warrant to purchase shares of Common Stock to the Placement Agent, in connection with the Warrant Exchange, incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, dated December 14, 2005, and filed with the SEC on December 20, 2005.* | |
4.14 | Form of Warrant to purchase shares of Common Stock issued to purchasers in the private placement which closed on March 15, 2006 (the “Series B Financing”), incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, dated March 15, 2006 and filed with the SEC on March 16, 2006.* | |
4.15 | Form of Warrant to purchase shares of Common Stock issued to purchasers in the Series B Financing, incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K, dated March 15, 2006 and filed with the SEC on March 16, 2006.* | |
4.16 | Form of Warrant to purchase shares of Common Stock issued to the Placement Agent, in connection with the Series B Financing, incorporated by reference to Exhibit 4.4 to the Current Report on Form 8-K, dated March 15, 2006 and filed with the SEC on March 16, 2006.* | |
4.17 | Form of Warrant to purchase 600,000 shares of Common Stock issued to Indigo Ventures, LLC, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated July 12, 2006 and filed with the SEC on July 18, 2006.* | |
4.18 | Form of Warrant to purchase up to 478,698 shares of Common Stock issued to VGS PHARMA, LLC, incorporated by reference to Exhibit 3(a) to the Current Report on Form 8-K, dated December 6, 2006 and filed with the SEC on December 12, 2006.* | |
4.19 | Form of Non-Qualified Stock Option Agreement for 1,750,000 shares of Common Stock granted to Veerappan Subramanian, incorporated by reference to Exhibit 3(b) to the Current Report on Form 8-K, dated December 6, 2006 and filed with the SEC on December 12, 2006.* |
23 | ||
4.20 | Form of Warrant to purchase shares of Common Stock issued to purchasers in the private placement which closed on April 24, 2007 (the “Series C Financing”), incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, dated April 24, 2007 and filed with the SEC on April 25, 2007.* | |
4.21 | Form of Warrant to purchase shares of Common Stock issued to the placement agent in the Series C Financing, incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K, dated April 24, 2007 and filed with the SEC on April 25, 2007.* | |
4.22 | Form of specimen certificate for Series D 8% Convertible Preferred Stock of the Company, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated September 15, 2008 and filed with the SEC on September 16, 2008.* | |
4.23 | Form of Warrant to purchase shares of Common Stock issued to purchasers in the private placement which closed on September 15, 2008 (the “Series D Financing”), incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, dated September 15, 2008 and filed with the SEC on September 16, 2008.* | |
4.24 | Form of Warrant to purchase shares of Common Stock issued to the placement agent in the Series D Financing, incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K, dated September 15, 2008 and filed with the SEC on September 16, 2008.* | |
4.25 | Form of specimen certificate for Series E Convertible Preferred Stock of the Company, incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K, dated June 1, 2009, and filed with the SEC on June 5, 2009.* | |
4.26 | Warrant to purchase shares of Common Stock issued to Epic Investments, LLC in the initial closing of the Strategic Alliance Agreement, dated as of March 18, 2009, by and among the Company, Epic Pharma, LLC and Epic Investments, LLC, incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K, dated June 1, 2009, and filed with the SEC on June 5, 2009.* | |
4.27 | Rights Agreement, dated as of November 15, 2013, between the Company and American Stock Transfer & Trust Company, LLC., incorporated by reference to Exhibit 1 to the Registration Statement on Form 8-A filed with the SEC on November 15, 2013. | |
10.1 | Amendment, dated as of November 1, 2011, to the Master Development and License Agreement, dated as of August 27, 2010, by and amount Mikah Pharma LLC and the Company. (Confidential Treatment granted with respect to portions of the Agreement). | |
10.2 | Securities Purchase Agreement with Socius dated December 30, 2011, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the SEC on January 5, 2012. | |
10.3 | Form of Lock-Up Agreement (included as Exhibit D to the Securities Purchase Agreement with Socius mentioned in 10.2 above), incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed with the SEC on January 5, 2012. | |
10.4 | Treppel Bridge Loan Agreement dated June 12, 2012, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the SEC on June 13, 2012. | |
10.5 | December 5, 2012 amendment to the Treppel Bridge Loan Agreement incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed with the SEC on December 10, 2012. |
24 | ||
10.6 | Development And License Agreement between the Company and a Hong Kong-based client dated March 16, 2012 incorporated by reference to Exhibit 10.77 to the Annual Report on Form 10-K filed with the SEC on June 29, 2012. (Confidential Treatment granted with respect to portions of the Agreement). | |
10.7 | Letter Agreement between the Company and ThePharmaNetwork LLC, dated September 21, 2012, incorporated by reference to Exhibit 10.6 to the Quarterly Report on Form 10-Q filed with the SEC on November 14, 2012. (Confidential Treatment granted with respect to portions of the Agreement) | |
10.8 | Purchase Agreement between the Company and Lincoln Park Capital LLC dated April 19, 2013 , incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, dated April 18, 2013 and filed with the SEC on April 22, 2013. | |
10.9 | Registration Rights Agreement between the Company and Lincoln Park Capital LLC dated April 19, 2013 , incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K, dated April 18, 2013 and filed with the SEC on April 22, 2013. | |
10.10 | August 1, 2013 Employment Agreement with Nasrat Hakim, incorporated by reference to Exhibit 10.4 to the Current Report on Form 8-K, dated August 1, 2013 and filed with the SEC on August 5, 2013. | |
10.11 | August 1, 2013 Mikah LLC Asset Purchase Agreement, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, dated August 1, 2013 and filed with the SEC on August 5, 2013. (Confidential Treatment granted with respect to portions of the Agreement). | |
10.12 | Revised Schedule 1 to the August 1, 2013 Mikah LLC Asset Purchase Agreement (revised to remove confidential treatment with regard to one item set forth thereon) | |
10.13 | August 1, 2013 Secured Convertible Note from the Company to Mikah Pharma LLC., incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K, dated August 1, 2013 and filed with the SEC on August 5, 2013. | |
10.14 | August 1, 2013 Security Agreement from the Company to Mikah Pharma LLC., incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K, dated August 1, 2013 and filed with the SEC on August 5, 2013. | |
10.15 | Termination of June 2011, Manufacturing and Supply Agreement between Mikah Pharma LLC and the Company. | |
10.16 | October 15, 2013 Hakim Credit Line Agreement, incorporated by reference to Exhibit 10.16 to the Quarterly Report on Form 10-Q for the period ended September 30, 2013. | |
10.17 | October 2, 2013 Manufacturing and Licensing Agreement with Epic Pharma LLC, incorporated by reference to Exhibit 10.17 to the Quarterly Report on Form 10-Q for the period ended September 30, 2013. Confidential portions of this exhibit have been redacted and filed separately with the Commission pursuant to a confidential treatment request in accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. | |
10.18 | August 19, 2013, Master Services Agreement with Camargo Pharmaceutical Services, LLC, incorporated by reference to Exhibit 10.18 to the Quarterly Report on Form 10-Q for the period ended September 30, 2013. |
25 | ||
10.19 | November 21, 2013 Unsecured Convertible Note from the Company to Jerry Treppel, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, dated November 26, 2013 and filed with the SEC on November 26, 2013. | |
10.20 | February 7,2014 Amendment to Secured Convertible Note from the Company to Mikah, incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K, dated February 7, 2014 and filed with the SEC on February 7, 2014. | |
10.21 | February 7 2014 Amendment to Secured Convertible Note from the Company to Jerry Treppel, incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K, dated February 7, 2014 and filed with the SEC on February 7, 2014. | |
31.1 | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
31.2 | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
32.1 | Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
32.2 | Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 | |
101 | The following materials from Elite Pharmaceuticals’ Quarterly Report on Form 10-Q for the period ended September 30, 2013, formatted in eXtensible Business Reporting Language (“XBRL”): (i) the Condensed Consolidated Statements of Income; (ii) the Condensed Consolidated Balance Sheets; (iii) the Condensed Consolidated Statements of Cash Flows; and (iv) Notes to Condensed Consolidated Financial Statements. |
26 | ||
SIGNATURES
ELITE PHARMACEUTICALS, INC. | |||
Date: | February 14, 2014 | /s/ Nasrat Hakim | |
Nasrat Hakim | |||
Chief Executive Officer | |||
(Principal Executive Officer) | |||
Date: | February 14, 2014 | /s/ Carter J. Ward | |
Carter J. Ward | |||
Chief Financial Officer | |||
(Principal Financial and Accounting Officer) |
27 | ||