This is a Carter project, I definitely want us to go to a calendar year and he is resisting. So we’ll figure it out. He seems to think we’ll go to NASDAQ faster, but I’m working on him. It’s the first thing I asked Carter to do when he joined the company and he is previously working on a lot of things that he hasn’t done before, the charge backs and [indiscernible]. There are a lot of things for them to work on. So I’m not pushing on this, but I really would like to do that. And we’ll see what happens over time. Does Mr. Nasrat have an idea of what price point would start looking at — to do a reverse split? We are not going to have a reverse split unless we’re going to NASDAQ. Otherwise, it would be meaningless to stay on the bulletin board and do any kind of reverse split.
If we stay on the bulletin board, which we’re not, then we’ll grow organically. But if we’re going to go to NASDAQ, we have to comply with certain rules. And the only thing really that we don’t comply with to the best of my knowledge now is the share price. It needs to be above $5, I think, to enter. My primary focus right now is to continue to strengthen the fundamentals and everything else will take care of itself. A few questions on manufacturing. And then one more on financials. A few questions on manufacturing. First, please provide an update on additional manufacturing and/or storage space utilization and anticipated needs? I already did that. So as I said, we’re going to start a new facility and do the packaging there, and a huge vault in it and the warehousing.
So with expanding in-house sales and marketing, can investors get an update on manufacturing capacity? Yes, that’s exactly what I gave you. Does Elite have a time line for when will it max out on our current manufacturing facility? Really, the manufacturing facility can manufacture a lot more than it is and we can package more. It’s a matter of capacity for storage, and that’s why we came up with a solution of starting a new warehouse that we will house the finished product at. Will we be able to get more manufacturing space before that happened? Yes. How long will it take to expand our manufacturing capability? I would imagine when we finish negotiating the contract and we need them to build a few things for us and we will be moving in — between April 1, will take charge and all in probably by June.
Okay. Can you provide a Q4 and 2024 sales and profitability outlook? Okay. We usually don’t do that, and profits side we don’t do that, and I agree with it. But I’m going to be brave today and tell you this. Let’s look at 2023. In the last three quarters from January till September, we’ve made more than $30 million. By the end of this quarter, this — by December, we would be north of $40 million. Next year is going to be a bigger year, because we will have Presco in the mix. And later on in the year, we will have some of the needle movers as well. So next year, calendar year 2024 will be even bigger than that. And for 2025, will it be even bigger than that, too, because most of the needle movers will get approval for will be toward the end of the year.
So what I’m looking at is an extremely positive outlook for Elite. The increase we have seen from $7.5 million to $23 million is only the beginning. I think the next three, four years are going to be fantastic for us and for the stockholders. With that, thank you all for coming. I really appreciate it. And thank you, Matthew, and we will talk to you soon.
Operator: Thank you, everyone. This concludes today’s event. You may disconnect at this time, and have a wonderful day. Thank you for your participation.
End of Q&A:
