ELI Elite Pharmaceuticals,

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CUSIP No. 28659T200 13G/A Page 2 of 8 Pages
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1.
 NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 MARK FAIN

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2.
 CHECK THE APPROPRIATE BOX IF A GROUP* (a)
 (b) |X|
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3. SEC USE ONLY



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4.
 CITIZENSHIP OR PLACE OF ORGANIZATION

 UNITED STATES OF AMERICA

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 NUMBER OF 5.
 SHARES SOLE VOTING POWER 201,333
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 BENEFICIALLY 6.
 OWNED BY SHARED VOTING POWER 892,831
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 EACH 7.
 REPORTING SOLE DISPOSITIVE POWER 201,333
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 PERSON WITH: 8.
 SHARED DISPOSTIVE POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
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9.
 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,094,164
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10.
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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11.
 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.9%
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12.
 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
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CUSIP No. 28659T200 13G/A Page 3 of 8 Pages
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13.
 NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 CHAD COMITEAU

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14.
 CHECK THE APPROPRIATE BOX IF A GROUP* (a)
 (b) |X|
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15. SEC USE ONLY



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16.
 CITIZENSHIP OR PLACE OF ORGANIZATION

 UNITED STATES OF AMERICA

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------------------- ----- --------------------------------------------- ----------------------------------------------
 NUMBER OF 17.
 SHARES SOLE VOTING POWER 221,265
------------------- ----- --------------------------------------------- ----------------------------------------------
------------------- ----- --------------------------------------------- ----------------------------------------------
 BENEFICIALLY 18.
 OWNED BY SHARED VOTING POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
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 EACH 19.
 REPORTING SOLE DISPOSITIVE POWER 221,265
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 PERSON WITH: 20.
 SHARED DISPOSTIVE POWER 892,831
------------------- ----- --------------------------------------------- ----------------------------------------------
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21.
 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,114,096
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22.
 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (21) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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23.
 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (21) 5.0%
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24.
 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN
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CUSIP No. 28659T200 13G/A Page 4 of 8 Pages
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ITEM 1.
 (a) Name of Issuer: ELITE PHARMACEUTICALS, INC.

 (b) Address of Issuer's Principal Executive Offices: 165 LUDLOW AVENUE, NORTHVALE, NJ 07647


ITEM 2.
 (a) Name of Person Filing: THIS STATEMENT IS FILED BY MARK FAIN AND
 CHAD COMITEAU.

 (b) Address of Principal Business Office or, if none, Residence:

 THE ADDRESS OF THE PRINCIPAL BUSINESS OFFICE OF EACH OF THE
 REPORTING PERSONS IS
 237 PARK AVENUE, SUITE 900, NEW YORK, NY 10017

 (c) Citizenship: US

 (d) Title of Class of Securities: COMMON STOCK, PAR VALUE $0.01 PER
SHARE

 (e) CUSIP Number: 28659T200



ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
 (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
 (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
 (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
 (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940
 (15 U.S.C 80a-8).
 (e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
 (f) [ ] An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F);
 (g) [ ] A parent holding company or control person in accordance with ss. 240.13d-1(b)(1)(ii)(G);
 (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance
 Act (12 U.S.C. 1813);
 (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14)
 of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 (j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).

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CUSIP No. 28659T200 13G/A Page 5 of 8 Pages
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ITEM 4. OWNERSHIP.


 A. Mark Fain

 As of December 31, 2007, Mark Fain
 beneficially owned 1,094,164 shares of Common
 Stock of Elite Pharmaceuticals, Inc., which
 amount includes (i) 168,000 shares
 beneficially owned by Mr. Fain over which he
 has sole voting power and sole dispositive
 power; (ii) 33,333 convertible shares
 beneficially owned by Mr. Fain over which he
 has sole voting power and sole dispositive
 power; (iii) 33,000 shares beneficially owned
 by Stratford Management Money Purchase
(a) Amount beneficially owned: Pension Plan over which Mr. Fain has shared
 voting power and shared dispositive power;
 (iv) 709,831 shares beneficially owed by
 Stratford Partners, L.P. of which Mr. Fain is
 a Managing Member, and over which Mr. Fain
 has shared voting power and shared
 dispositive power; and (v) 150,000
 convertible shares beneficially owed by
 Stratford Partners, L.P. over which Mr. Fain
 has shared voting power and shared
 dispositive power.

 Approximately 4.9% beneficially owned by Mr.
 Fain. Calculation of percentage of beneficial
(b) Percent of class: ownership is based on 22,228,000 shares of
 Issuer's Common Stock outstanding as of
 November 14, 2007 as reported by the Issuer
 in its Form 10-K filed on November 14, 2007.

(c) Number of shares as to which the person has:
 (i) Sole power to vote or to direct the vote: 219,712
 (ii) Shared power to vote or to direct the vote: 892,831
 (iii) Sole power to dispose or to direct the disposition 219,712
 of:
 (iv) Shared power to dispose or to direct the disposition 892,831
 of:

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CUSIP No. 28659T200 13G/A Page 6 of 8 Pages
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 B. Chad Comiteau


 As of December 31, 2007, Chad Comiteau
 beneficially owned 1,114,096 shares of Common
 Stock of Elite Pharmaceuticals, Inc., which
 amount includes (i) 188,600 shares
 beneficially owned by Mr. Comiteau over which
 he has sole voting power and sole dispositive
 power; (ii) 32,665 convertible shares
 beneficially owned by Mr. Comiteau over which
 he has sole voting power and sole dispositive
 power; (iii) 33,000 shares beneficially owned
 by Stratford Management Money Purchase
(a) Amount beneficially owned: Pension Plan over which he has shared voting
 power and shared dispositive power; (iv)
 709,831 shares beneficially owed by Stratford
 Partners, L.P. of which Mr. Comiteau is a
 Managing Member, and over which Mr. Comiteau
 has shared voting power and shared
 dispositive power; and (v) 150,000
 convertible shares beneficially owed by
 Stratford Partners, L.P. over which Mr.
 Comiteau has shared voting power and shared
 dispositive power.

 Approximately 5.0% beneficially owned by Mr.
 Comiteau. Calculation of percentage of
 beneficial ownership is based on 22,228,000
(b) Percent of class: shares of Issuer's Common Stock outstanding
 as of November 14, 2007 as reported by the
 Issuer in its Form 10-Q filed November 14,
 2007.

(c) Number of shares as to which the person has:
 (i) Sole power to vote or to direct the vote: 221,265
 (ii) Shared power to vote or to direct the vote: 892,831
 (iii) Sole power to dispose or to direct the disposition 221,265
 of:
 (iv) Shared power to dispose or to direct the disposition 892,831
 of:


ITEM 5 Ownership of 5 Percent or Less of a Class. If this statement is
 being filed to report the fact that as of the date hereof the
 reporting person has ceased to be the beneficial owner of more than 5
 percent of the class of securities, check the following [X]. This is
 applicable for both reporting persons.

ITEM 6-9 Not Applicable

Filing of this statement by Mssrs. Fain and Comiteau shall not be deemed an
admission that they beneficially own the securities reported herein as held in
customer accounts at Stratford Partners, L.P. Mssrs. Fain and Comiteau expressly
disclaim beneficial ownership of all securities held in such customer accounts.
No single client's interest as reported in the customer accounts at Stratford
Partners, L.P. exceeds 5% of the outstanding Common Stock of the Issuer.

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CUSIP No. 28659T200 13G/A Page 7 of 8 Pages
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ITEM 10. CERTIFICATION

 The following certification shall be included if the statement
is filed pursuant to ss.240.13d-1(b):

 By signing below I certify that, to the best of my
 knowledge and belief, the securities referred to above
 were acquired and are held in the ordinary course of
 business and were
(a) not acquired and are not held for the purpose of or with
 the effect of changing or influencing the control of the
 issuer of the securities and were not acquired and are not
 held in connection with or as a participant in any
 transaction having that purpose or effect. [X]

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CUSIP No. 28659T200 13G/A Page 8 of 8 Pages
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 SIGNATURE

 After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


February 5, 2008
Date
/s/ Mark Fain
-------------
Signature

Mark Fain
Name/Title

February 5, 2008
Date
/s/ Chad Comiteau
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Signature

Chad Comiteau
Name/Title



The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. SEE ss.240.13d-7 for other
parties for whom copies are to be sent.

ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)