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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
1442002	Epic Pharma Llc	227-15 North Conduit Ave Laurelton NY 11413-3134		No	No	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	63,443,669	No	4	C	Indirect	see footnote
Common Stock	Disposition	2012-03-16	85,000	$0.10	63,358,669	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.
The reporting person, Epic Pharma, LLC ("EP"), is an equity owner of Epic Investments, LLC ("EI"), which owns securities convertible into or exercisable for in excess of 10% of the outstanding shares of common stock of the issuer. EP and EI are both owned, wholly or in part, and are operated by Ram Potti, Ashok G. Nigalaye and Jeenarine Narine, each of whom is a director of the issuer. The interest of EP in the securities of the issuer owned by EI is limited, and EP disclaims beneficial ownership of such securities except, to the extent of its pecuniary interest in EI.
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