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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1053369	Elite Pharmaceuticals Inc	ELTP	Pharmaceutical Preparations (2834)	223542636

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1465825	G Ashok Nigalaye	C/O Epic Pharma, Llc 227-15 North Conduit Avenue Laurelton NY 11413	Chief Scientific Officer	Yes	Yes	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-03-14	7,621,951	$0.00	63,851,618	No	4	C	Indirect	see footnote
Common Stock	Disposition	2012-03-16	85,000	$0.10	63,766,618	No	4	S	Indirect	see footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	see footnote
No	4	S	Indirect	see footnote

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series E Convertible Preferred Stock	Disposition	2012-03-14	188	$1,000.00	7,621,951	$0.02
Common Stock	Series E Convertible Preferred Stock	Acquisiton	2012-03-15	125	$1,000.00	5,081,301	$0.02

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,625	2012-03-14		No	4	C	Indirect
1,750	2012-03-15		No	4	P	Indirect

Footnotes

Conversion of Series E Preferred Stock of issuer at the rate of approximately 40,650.41 shares of common for each share of such preferred stock.
Ashok G. Nigalaye is an equity owner and executive officer of each of Epic Pharma, LLC ("EP"), and Epic Investments, LLC ("EI") (which is controlled by EP), which owns securities convertible into or exercisable for in excess of 10% of the outstanding shares of common stock of the issuer, and also serves as a director of the issuer.
Of the 63,851,618 shares of common stock, 63,443,669 shares of common stock are owned indirectly through EI and 407,949 shares are owned directly by the reporting person.
Of the 63,766,618 shares of common stock, 63,358,669 shares of common stock are owned indirectly through EI and 407,949 shares are owned directly by the reporting person.
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