Elite Pharmaceuticals Inc (QB) (ELTP) News

True.

Two different processes.

The democrats talked about eliminating it and probably will next time they get elected. Heck, republicans may be pushed to eliminate it at some point if our national debt gets too out of hand. It is an obvious loop hole that only became legal in 2010 and benefits pretty much only more wealthy people. If its legal do it, but don't count on it being around forever.

lots of talk about IRAs...my first damn RMD this year...don't get old boys

Wow, didn't know that was being sunset. Thx for heads up. 

That is true! At least as long as the backdoor conversion option is available, which should be for 4 more years!

I would think capital gains from a buy out would affect MAGI just like capital gains from a stock increase does. Its stock that is being liquidated at a higher price. If we have a buyout in 2025 you will not likely be able to contribute new money to a roth unless you only hold a few tens of thousands of shares.

Er, that is wrong. If your talking about making new contributions to a roth its all based on MAGI as NASDAQ 2020 is posting. Age has nothing to do with it. I think most of what you are doing is converting existing IRAs into Roths and that is a different set of rules that I don't know anything about. Its money already in retirement versus money your putting into retirement account for first time.

Know what you own.

ELTP Catalysts:

Next week to 6 months:


X 1. Cash Flow Positive - 5 years
X 2. Purchase building housing their cGMP registered facility for research, development, manufacturing and packaging of pharmaceutical products.
X 3. Adderall IR $335 Million IMS market Approved and Launched
X 4. Adderall XR $1.56 Billion IMS market Approved and Launched
X 5. Double digit quarterly revenues in millions
X 6. Create in house marketing and distribution: Kirko Kirkov, Doug Plassche and their teams
X 7. Prasco/Burel Adderall agreement - January 1st 2024
X 8. First shipment Adderall XR to Prasco/Burel Dec 2023
X 9. DEA increases manufacturing quotas for Adderall & Vyvance
X 10. Generic OxyContin - FIRST TO FILE FDA Aug 17, 2023 $720 Million
X 11. Generic Vyvanse - $4.7 BILLION - FDA submission Dec 2023
X 12. FDA Acceptance of Generic OxyContin Sept 2023
X 13. Lease additional manufacturing space and storage vault for new Needle Mover ANDAs - Jan 2024
__14. Dopamine Agonist Approval (probably Requip XL or Mirapex ER). $12 Million
__15. Obtain Full ownership of Adderall IR $ 335 Million from MIKAH
__16. Obtain Full ownership of Adderall XR $ 1.56 Billion from MIKAH
X 17. Vigabatrin Approval $233 Million
X 18. Pyros Vigabatrin -settle VigPoder trade mark challenge and LAUNCH
X 19. Generic Methotrexate Antimetabolite- Approval
X 20. Launch generic Methotrexate $63.4 Million
X 21. $50+ million in yearly revenues
X 22. Lowest PE ratio for OTC Healthcare sector
X 23. Become the ONLY company showing rapid growth on the OTC while being profitable
X 24. Put Opioids back on the Table- due to reduced risk of opioid litigation
X 25. Receive Analyst Coverage - Upgrade to Market Outperform - Zacks Investment Research
X 26. International Distribution - partnership Approval by Israeli Ministry of Health for European distribution License and Distribution Agreement by and between Elite Pharmaceuticals, Inc. and Dexcel Ltd.
X 27. Generic IR Adderall® Receives Marketing Approval From The Israeli Ministry Of Health Oct 2024
__28. Generate revenues over $20 million/quarter
__29. Final Approval of New Manufacturing Facility/Expansion
__30. Double output of manufacturing and packaging facilities
X 31. Launch approved generic Tylenol with Codeine $47 Million
X 32. Launch approved generic Norco - hydrocodone acetaminophen IMS $300 Million
__33. Launch approved generic Percocet - oxycodone acetaminophen IMS $500 Million
__34. Launch approved generic Dolophine - methadone HCL tablets IMS $30 Million
X 35. Godzilla -Generic Vyvanse Approval $4.3 Billion
__36. Positive BE Study for Concerta CNS Stimulant $1.2 Billion
__37. Godzilla - Generic Vyvance LAUNCH $4.3 Billion Imminent
__38.Generic Concerta- FDA submission $1.2 Billion
__39. Launch Adderall IR in Israel
__40. 100 million in yearly revenues
__41. Generic OxyContin Tentative Approval $720 Million
__42. Elite prevail over Purdue in Generic OxyContin infringement suit - second 6 month stay - active Accord/Purdue suit causing delay
__43. Launch generic OxyContin $720 Million
__44. Positive BE on NDA Unique ADF opioid - 90% cheaper than ADF without Naltrexone - Game Over Drug
__45. Resume R&D on SequestOx Abuse Deterrent Oxycodone
__46. $200 million in yearly revenue
__47. Patented NDA Unique ADF (w/o naltrexone) drug C in SequestOx reformulation trial
__48. Undisclosed Mikah ANDA(s)
__49. Undisclosed ANDAs/NDAs
__50. Generic Concerta Launch $1.2 Billion
__51. DollarLand PPS - Billion $ Market Cap
__52. Big Pharma bidding
__53. UpList to the NASDAQ Exchange
__54. ELTP Elite Pharmaceutical Buyout - 2 1/2 years or less from Feb 2024
__55. Vegas BABY !!!!!

In August when I heard the teleconference and we were at 15-17 cents I got the potential of elite. In 4 days I converted 2.6 mil shares. Worth all the tax savings.

During high income years you can put money in a traditional IRA and do a backdoor conversion to a Roth IRA. 

All of my Ira conversions to Roth IRAs were done a very long time ago, over 5 years.
I don’t think I’m doing any more conversions at this point.
I was worried about and maybe still am if I can contribute to 2025 Roth with the potential of a buyout in 2025
Would gains in a buy out be treated as earned income or not if it counted as earned income I can not contribute to a Roth if a buyout was to occur in 2025.

I’m thinking I can do my 2025 IRA in Jan using earned income and not worry about making millions in a non iRA trading acct. if buy out occurs in 2025 . That will be treated as Passive income. .?

https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2024

Earned income is w2 I believe.

After you retire you can not continue to contribute to your Roth IRA.
It has to be funded with earned income.

If we are bought out and I make $millions in a non IRA trading account is that considered earned income ?

What Is Earned Income?
Earned income is money received as payment for work, including wages, salaries, bonuses, commissions, tips, and net earnings from self-employment. For tax purposes, it can also include long-term disability payments, union strike benefits, and, in some cases, payments from certain deferred retirement compensation arrangements.

Income such as investment profits and Social Security payments is considered unearned income, also known as passive income.

Converting a traditional IRA to a Roth IRA after age 59.5 can be a strategic move, especially considering the tax benefits and flexibility it offers. Here are some key points to keep in mind:

1. **Tax Implications**: When you convert a traditional IRA to a Roth IRA, you'll need to pay taxes on the converted amount. This is because traditional IRA contributions are typically made with pre-tax dollars, while Roth IRA contributions are made with after-tax dollars¹.

2. **5-Year Rule**: The 5-year rule still applies to Roth IRA conversions. This rule states that you must wait five years from the beginning of the tax year in which you made the conversion before you can withdraw the converted amount tax- and penalty-free. However, since you are over 59.5, you won't face the 10% early withdrawal penalty².

3. **Qualified Distributions**: Once you meet the 5-year rule and are over 59.5, any withdrawals from your Roth IRA, including earnings, are considered qualified distributions and are tax- and penalty-free².

4. **Multiple Conversions**: If you've made multiple conversions, each conversion has its own 5-year period. This means you need to track each conversion separately to ensure you meet the 5-year rule for each one¹.

5. **No Required Minimum Distributions (RMDs)**: Unlike traditional IRAs, Roth IRAs do not require you to take RMDs during your lifetime. This allows your investments to grow tax-free for a longer period².

Converting to a Roth IRA can be a great way to manage your retirement income and taxes. If you have specific questions about your situation, it might be helpful to consult with a financial advisor.

Is there anything else you'd like to know about Roth IRAs or other investment strategies? 📈

¹: [Intuit](https://ttlc.intuit.com/community/retirement/discussion/how-to-take-roth-earnings-out-after-age-59-5-if-you-have-multiple-conversions-some-more-than-5-yrs/00/1759086)
²: [Fidelity](https://www.fidelity.com/learning-center/personal-finance/retirement/roth-ira-5-year-rule)

Source: Conversation with Copilot, 12/12/2024
(1) Solved: How to take ROTH earnings out , after age 59.5, if you ... - Intuit. https://ttlc.intuit.com/community/retirement/discussion/how-to-take-roth-earnings-out-after-age-59-5-if-you-have-multiple-conversions-some-more-than-5-yrs/00/1759086.
(2) What to know about the Roth IRA 5-year aging rule - Fidelity Investments. https://www.fidelity.com/learning-center/personal-finance/retirement/roth-ira-5-year-rule.
(3) Watch Out for the Five-Year Rule on Converted Roth Funds. https://irahelp.com/slottreport/watch-out-five-year-rule-converted-roth-funds/.

KEY TAKEAWAYS
Only earned income can be contributed to a Roth individual retirement account.
There is a cap on how much individuals can contribute to their IRAs every year.
People 50 and older can invest an additional catch-up contribution each year.
There are also contribution limits based on your household income and filing status. If your earned income is too high, you can't contribute at all.
You can withdraw contributions (not earnings) tax-free at any time from a Roth IRA.

These limits do not apply for 59.5 and older.

Income Limits Based on Filing Status
The income limits for contributing to a Roth IRA in 2024 vary based on your filing status and modified adjusted gross income (MAGI). Here are the details:
Married Filing Jointly or Qualifying Widow(er):
MAGI less than $230,000: Full contribution up to the limit.
MAGI between $230,000 and $240,000: Reduced contribution.
MAGI more than $240,000: Not eligible to contribute.

Married Filing Separately (lived with spouse at any time during the year):
MAGI less than $10,000: Reduced contribution.
MAGI more than $10,000: Not eligible to contribute.

Single, Head of Household, or Married Filing Separately (did not live with spouse at any time during the year):
MAGI less than $146,000: Full contribution up to the limit.
MAGI between $146,000 and $161,000: Reduced contribution.
MAGI more than $161,000: Not eligible to contribute

Hahaha good one HG, ELTP$$$$$$$ 7.00 Teflon can have mine!!!!!!

His line is busy.

Buy more teflon

Let me see, so you are complaining that a message board poster's wish didn't come true and you've come to complain about it?  Awesome.

We were promised Dollarland after Vyvanse approval. Now it's heading back to .50.

I heard that at 2¢

When this went down to .43 I was upset I didn't have cash in my account. Added some shares in the high 50s. (My previous 525k shares were $0.09 cents average). When Vyvanse was approved I though there was no way I'd be able to buy shares under $1. I am shocked where we are trading but happily  transferred $25k into my Schwab account today. Hopefully in 5 days the stock is in still this cheap. 599,000 shares. Happy to get to maybe 650k. 

Crazy bargain price. 

Wrong guy AH

Well that is gonna add about as much value to the discussion as when you posted about loving nasrat !!!!!!!!

IB_🤴

He sold at 15¢, I would be disappointed too.

V had better come through..only a few months more to see some revs..That'll seem like a week after holding for years

Love this assessment. Thank you!! Fingers crossed. That would be a dream

Wow. It is being shorted every day for the last month. Thats as far back as it shows

SAD, I thought it short people

Let it build, bigger run up when ELTP breaks out.

It seems to be working for them.
Dropping hard with no end any time soon.
Shorting is legal, right ??

Check out the short info on ELITE-
https://fintel.io/ss/us/eltp

Darn, we had those dam drones over Bergan county, home of Elite

https://www.france24.com/en/live-news/20241212-alarming-us-mystery-drones-confound-officials-scare-locals

"We're just consolidating at lower levels" as some on Wall Street like to say...always have a good laugh when I hear that one.

Wow so clever Did you make that up all by yourself You really should wait till you get out of school after 3 to be texting

gotta laugh

Will do some more conversions when I come back from vaca.

Which cheese do prefer with your whine?

Wow.  These are holiday gifts given.  Whoever buys here, congratulations on these low prices.   

Never said pps was disappointing I said the predictions are disappointing Some are saying 4 dollars some 7 dollars How bout 1 dollar first

ELTP has been doing fantastic. I don’t understand how anyone can call the significant appreciation in share price over the past few years “disappointing”.

Yep Typical Elite position Just wait till this happens Then this happens and pps doesn’t move Now it’s wait till June What’s anther 6 months when we have been waiting years Please stop with the predictions They are always disappointing

The most important date to hold for is the next CC. We will get revs with some opioids and possibly some Vyvanse. But the giant fireworks will not be until June when we get our 10-K and we see the impact of our first full quarter of Vyvanse sales. Getting in now is smart, but you also have to have the patience to not pull any off until the 10-K.

In two years best case we will have
1. Adderall ER and IR
2. of opioids (which together almost make a needle mover)
3. Vyvanse
4. Oxy
5. 1 new needle mover that is getting BE now
6. 3 new needle movers undergoing studies
7. and more teed up on the horizon.

Our current price represents known sales from item 1 and market enthusiasm from items 2, 3, and 7.
Lets assume the enthusiasm component stays the same which right now has about doubled our price (a generic only drug company has a much lower PE than most other companies, 15 is a good value).
Vyvanse market is bigger than anything we have now, we will double its impact.

So I will start from 60/2 or 30 cents for where we would be without any forward looking impact that is with 1 needle mover. Enthusiasm seems to equal 1 needle mover impact so I assume in 2 years we will have 8 needle movers. Eight times 30 = $2.40. Double that for enthusiasm for new drugs known to be on the horizon at that time and that is $4.80. Then add on 15% for improved efficiency and that is $5.52.

Dang, so I guess in two years (when we have 8 needle movers on the market) we could actually be close to $7!

I think the stretch is whether we can maintain a PE of 30 something when we move past sharp growth stage. Its harder to double revenue as it gets bigger. I think we will setting into a PE in the 20s so that would put us more in the $4 dollar range in 2 years.

Welcome.

Nasrat said we are growing our revenues for at least until 2026. All good.

Avg cost $0.60. Just got in the game