Mathematically, that's what our financials show. B
Post# of 2146
Posted On: 12/21/2012 6:46:16 AM
Mathematically, that's what our financials show. But if you dig further into our 10-K you'll note that we lost 97% of our revenues right at the end of 2011 as a result of the removal of the extended-release Lodrane product lines.
So when 2012 began for us, we were essentially starting from zero. The $4 million plus of revenues in the prior year did not exist when 2012 began. As Chris mentioned, most of this year's $2.4 million in revenues were from products and revenue streams that were launched during this year itself.
Almost $2.4 million in completely new revenues were created during this year. That's something that Elite has never achieved before. In fact, it took almost 20 years from its founding in 1990 all the way into 2009 for Elite to post annual revenues which first broke the $2 million barrier. It's really quite an accomplishment in 2012 in this regard.
These investments are required and they are being made as a result of Elite's creating the new and the growing financial streams which we are experiencing currently. If you read the K and the full financials, there's a few disclosures which I think deserve a special mention. Specifically, the patent approval, the bridge loan from our CEO , and the raising of additional capital.
All three of these things are related to each other. As Chris did, and I'm sure Jerry will mention, the approval of the patent related to our abuse resistant technology is one of the keystones of our future plans.
So when 2012 began for us, we were essentially starting from zero. The $4 million plus of revenues in the prior year did not exist when 2012 began. As Chris mentioned, most of this year's $2.4 million in revenues were from products and revenue streams that were launched during this year itself.
Almost $2.4 million in completely new revenues were created during this year. That's something that Elite has never achieved before. In fact, it took almost 20 years from its founding in 1990 all the way into 2009 for Elite to post annual revenues which first broke the $2 million barrier. It's really quite an accomplishment in 2012 in this regard.
These investments are required and they are being made as a result of Elite's creating the new and the growing financial streams which we are experiencing currently. If you read the K and the full financials, there's a few disclosures which I think deserve a special mention. Specifically, the patent approval, the bridge loan from our CEO , and the raising of additional capital.
All three of these things are related to each other. As Chris did, and I'm sure Jerry will mention, the approval of the patent related to our abuse resistant technology is one of the keystones of our future plans.
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