v3.26.1
INTANGIBLE ASSETS
 3 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
INTANGIBLE ASSETS

NOTE 4. INTANGIBLE ASSETS

 

The following table summarizes the Company’s intangible assets as of and for the periods ended June 30, 2026 and March 31, 2026:

 

   June 30, 2026
   Estimated Useful Life  Gross Carrying Amount   Additions   Impairment losses   Accumulated Amortization   Net Book Value 
ANDA acquisition costs  Indefinite  $4,790,790   $—   $—   $—   $4,790,790 
      $4,790,790   $—   $—   $—   $4,790,790 

 

 

ELITE PHARMACEUTICALS, INC. AND SUBSIDIARY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

 

   March 31, 2026
   Estimated Useful Life  Gross Carrying Amount   Additions   Impairment losses   Accumulated Amortization   Net Book Value 
Patent application costs  -*  $289,039   $—   $(289,039)  $—   $— 
ANDA acquisition costs  Indefinite   5,348,763    —    (557,973)   —    4,790,790 
      $5,637,802   $—   $(847,012)  $—   $4,790,790 

 

*Patent application costs were incurred in relation to the Company’s abuse deterrent opioid technology. Amortization of the patent costs would have begun upon the issuance of marketing authorization by the FDA. During the year ended March 31, 2026, these costs were impaired in full.

 

The Company tests its intangible assets for impairment at least annually (as of March 31st) and whenever events or circumstances indicate that impairment may have occurred. Indicators of impairment may include, among others: a significant decline in expected future cash flows; a sustained, significant decline in stock price and market capitalization; a significant adverse change in legal factors or business climate; unanticipated competition; and slower growth rates. No such impairment was recorded during the three months ended June 30, 2026 and 2025.

 

* Patent application costs were incurred in relation to the Company’s abuse deterrent opioid technology. Amortization of the patent costs would have begun upon the issuance of marketing authorization by the FDA. During the year ended March 31, 2026, these costs were impaired in full.