ELITE PHARMACEUTICALS INC /NV/ | 2013 | FY | 3


Conversions of Preferred Derivatives during Fiscal 2013 and Fiscal 2012, are summarized as follows:

 

    Fiscal 2013     Fiscal 2012  
Series B Derivatives                
Number of Derivative Shares Converted     797       99  
Number of Common Shares issued pursuant to conversion     5,310,387       660,001  
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)     690,350     $ 72,600  
Change in value of preferred share derivative liability recorded at time of conversion     212,415     $ (39,600 )
Par value of Common Shares issued     5,310     $ 660  
Additional paid in capital recorded as a result of the conversions     685,040     $ 71,940  
                 
Series C Preferred Derivatives                
Number of Derivative Shares Converted     1,291       2,752  
Number of Common Shares issued pursuant to conversion     8,606,667       18,346,673  
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)     1,204,600     $ 1,712,667  
Change in value of preferred share derivative liability recorded at time of conversion     414,280     $ (518,387 )
Par value of Common Shares issued     8,607     $ 18,347  
Additional paid in capital recorded as a result of the conversions     1,195,993     $ 1,694,321  
                 
Series D Preferred Derivatives                
Number of Derivative Shares Converted           4,063  
Number of Common Shares issued pursuant to conversion           58,042,862  
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)         $ 9,473,715  
Change in value of preferred share derivative liability recorded at time of conversion         $ 4,946,372  
Par value of Common Shares issued         $ 58,043  
Additional paid in capital recorded as a result of the conversions         $ 9,415,672  
                 
Series E Preferred Derivatives                
Number of Derivative Shares Converted     388       1,563  
Number of Common Shares issued pursuant to conversion     15,946,502       63,443,670  
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)     1,275,720     $ 5,905,197  
Change in value of preferred share derivative liability recorded at time of conversion         $ 1,166,521  
Par value of Common Shares issued     15,947     $ 63,444  
Additional paid in capital recorded as a result of the conversions     1,259,774     $ 5,841,754  
                 
Total Preferred Derivatives                
Number of Derivative Shares Converted     2,475       8,477  
Number of Common Shares issued pursuant to conversion     29,863,556       140,493,206  
Value of Preferred Derivative shares at time of conversion (represents decrease in derivative liability resulting from conversions)     3,170,671     $ 17,164,180  
Change in value of preferred share derivative liability recorded at time of conversion     626,696     $ 5,554,906  
Par value of Common Shares issued     29,864     $ 140,493  
Additional paid in capital recorded as a result of the conversions     3,140,807     $ 17,023,687

us-gaap:ScheduleOfConversionsOfStockTextBlock