Elite Pharmaceuticals (ELTP) 10-K 29 Jun 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 24, 2020	Sep. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	ELITE PHARMACEUTICALS INC /NV/
Entity Central Index Key	0001053369
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Type	10-K
Document Period End Date	Mar. 31, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 65,061,607
Entity Common Stock, Shares Outstanding		840,404,367
Entity Incorporation State Country Code	NV
Entity File Number	001-15697
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Current assets:
Cash	$ 1,131,728	$ 2,277,643
Accounts receivable, net of allowance for doubtful accounts of $-0-, respectively	4,106,846	1,321,805
Inventory	4,142,472	4,515,723
Prepaid expenses and other current assets	870,233	741,371
Total current assets	10,251,279	8,856,542
Property and equipment, net of accumulated depreciation of $10,957,334 and $9,651,718, respectively	7,227,648	8,443,849
Intangible assets, net of accumulated amortization of $-0-, respectively	6,634,035	6,634,035
Operating lease – right-of-use asset	363,282
Other assets:
Restricted cash - debt service for NJEDA bonds	404,802	398,125
Security deposits	75,534	69,383
Total other assets	480,336	467,508
Total assets	24,956,580	24,401,934
Current liabilities:
Accounts payable	1,577,860	1,375,347
Accrued expenses	4,821,132	3,713,601
Deferred revenue, current portion	180,000	1,013,333
Bonds payable, current portion, net of bond issuance costs	90,822	80,822
Loans payable, current portion	561,550	573,029
Lease obligation - operating lease, current portion	208,184
Customer deposits		150,000
Senior secured promissory note - related party, current portion	1,200,000
Total current liabilities	8,639,548	6,906,132
Long-term liabilities:
Deferred revenue, net of current portion	58,891	238,890
Bonds payable, net of current portion and bond issuance costs	1,336,489	1,427,315
Senior secured promissory note - related party, net of current portion		1,200,000
Loans payable, net of current portion	463,902	699,269
Lease obligation - operating lease, net of current portion	167,109
Derivative financial instruments - warrants	3,599,378	2,487,830
Other long-term liabilities	35,442	46,402
Total long-term liabilities	5,661,211	6,099,706
Total liabilities	14,300,759	13,005,838
Mezzanine equity
Series J convertible preferred stock; par value $0.01; 50 shares authorized, 24.0344 issued and outstanding as of March 31, 2019		13,903,960
Shareholders' equity (deficit):
Series J convertible preferred stock; par value of $0.01 50 shares authorized; 24.0344 issued and outstanding as of March 31, 2020	13,903,960
Common stock; par value $0.001; 1,445,000,000 shares authorized, 840,504,367 shares issued and 840,404,367 outstanding as of March 31, 2020; 995,000,000 shares authorized; 824,946,559 shares issued and 824,846,559 outstanding as of March 31, 2019	840,507	824,949
Additional paid-in capital	150,264,605	148,780,087
Treasury stock; 100,000 shares as of March 31, 2020 and March 31, 2019; at cost	(306,841)	(306,841)
Accumulated deficit	(154,046,410)	(151,806,059)
Total shareholders' equity (deficit)	10,655,821	(2,507,864)
Total liabilities, mezzanine equity and shareholders' equity (deficit)	$ 24,956,580	$ 24,401,934

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable, current	$ 0	$ 0
Accumulated depreciation	10,957,334	9,651,718
Accumulated amortization on intangible assets	$ 0	$ 0
Temporary equity, par value	$ 0.01	$ 0.01
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,445,000,000	995,000,000
Common stock, shares issued	840,504,367	824,946,559
Common stock, shares outstanding	840,404,367	824,846,559
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50	50
Preferred stock, shares issued	24.0344	24.0344
Preferred stock, shares outstanding	24.0344	24.0344
Treasury stock, shares	100,000	100,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Audited) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Manufacturing fees	$ 14,526,048	$ 5,387,696
Licensing fees	3,468,591	2,180,812
Total revenue	17,994,639	7,568,508
Cost of revenue	10,015,855	4,700,978
Gross profit	7,978,784	2,867,530
Operating expenses:
Research and development	5,532,462	7,599,820
General and administrative	3,349,837	3,083,546
Non-cash compensation through issuance of stock options	62,098	136,369
Depreciation and amortization	1,319,795	1,206,495
Total operating expenses	10,264,192	12,026,230
Loss from operations	(2,285,408)	(9,158,700)
Other income (expense):
Interest expense	(355,874)	(369,173)
Change in fair value of derivative instruments - warrants	(1,111,548)	180,041
Interest income	11,979	21,461
Gain (loss) realized from transfer/discontinuance of intangible assets	1,502,500	(628,966)
Other income (expense), net	47,057	(796,637)
Loss from operations before income taxes	(2,238,351)	(9,955,337)
Income tax provision	(2,000)
Net benefit from sale of state net operating loss credits		676,016
Net loss attributable to common shareholders	$ (2,240,351)	$ (9,279,321)
Basic net loss per share attributable to common shareholders	$ 0	$ (0.01)
Diluted net loss per share attributable to common shareholders	$ 0	$ (0.01)
Basic weighted average Common Stock outstanding	832,326,965	814,172,891
Diluted weighted average Common Stock outstanding	993,260,953	816,312,992

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) (Audited - USD ($)	Series J Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Total
Balance at Mar. 31, 2018		$ 802,629	$ 146,602,502	$ (306,841)	$ (142,526,738)	$ 4,571,552
Balance, Shares at Mar. 31, 2018		802,626,761		100,000
Net loss					(9,279,321)	(9,279,321)
Common Stock sold pursuant to the Lincoln Park purchase agreement		$ 22,034	2,041,502			2,063,536
Common Stock sold pursuant to the Lincoln Park purchase agreement, Shares		22,033,967
Common Stock issued as additional commitment shares pursuant to the LPC purchase agreement		$ 286	28,444			28,730
Common Stock issued as additional commitment shares pursuant to the LPC purchase agreement, Shares		285,831
Costs associated with raising capital			(28,730)			(28,730)
Non-cash compensation through the issuance of employee stock options			136,369			136,369
Balance at Mar. 31, 2019		$ 824,949	148,780,087	$ (306,841)	(151,806,059)	(2,507,864)
Balance, Shares at Mar. 31, 2019		824,946,559		100,000
Net loss					(2,240,351)	(2,240,351)
Common Stock sold pursuant to the Lincoln Park purchase agreement		$ 15,359	1,422,619			1,437,978
Common Stock sold pursuant to the Lincoln Park purchase agreement, Shares		15,358,627
Common Stock issued as additional commitment shares pursuant to the LPC purchase agreement		$ 199	20,111			20,310
Common Stock issued as additional commitment shares pursuant to the LPC purchase agreement, Shares		199,181
Costs associated with raising capital			(20,310)			(20,310)
Non-cash compensation through the issuance of employee stock options			62,098			62,098
Reclassification of mezzanine equity to permanent equity	$ 13,903,960					13,903,960
Reclassification of mezzanine equity to permanent equity, shares	24
Balance at Mar. 31, 2020	$ 13,903,960	$ 840,507	$ 150,264,605	$ (306,841)	$ (154,046,410)	$ 10,655,821
Balance, Shares at Mar. 31, 2020	24	840,504,367		10,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,240,351)	$ (9,279,321)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,319,795	1,256,917
Amortization of operating leases – right-of-use assets	190,806
Change in fair value of derivative financial instruments - warrants	1,111,548	(180,042)
Non-cash compensation accrued	966,655	1,581,250
Non-cash compensation through the issuance of employee stock options	62,098	136,369
Non-cash rent expense and lease accretion	2,081	5,254
Non-cash loss on sale and discontinuance of intangible assets		628,966
Change in operating assets and liabilities:
Accounts receivable	(2,785,041)	(545,926)
Inventory	373,251	382,278
Prepaid expenses and other current assets	216,091	23,826
Accounts payable, accrued expenses and other current liabilities	344,395	61,002
Deferred revenue and customer deposits	(1,163,332)	(863,333)
Lease obligations - operating leases	(191,817)
Net cash used in operating activities	(1,793,821)	(6,792,760)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(34,953)	(19,130)
Proceeds from sale of intangible assets		350,000
Net cash (used in) provided by investing activities	(34,953)	330,870
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of stock	1,437,978	2,063,536
Payment of bond principal	(95,000)	(90,000)
Other loan payments	(653,442)	(406,681)
Net cash provided by financing activities	689,536	1,566,855
Net change in cash and restricted cash	(1,139,238)	(4,895,035)
Cash and restricted cash, beginning of year	2,675,768	7,570,803
Cash and restricted cash, end of year	1,536,530	2,675,768
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest	240,785	226,455
Financing of equipment purchases and insurance renewal	54,462	686,968
Commitment shares issued to Lincoln Park Capital	20,310	28,729
Supplemental non-cash amounts of lease liabilities arising from obtaining right of use assets	$ 554,088

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Overview Elite Pharmaceuticals, Inc. (the "Company" or "Elite") was incorporated on October 1, 1997 under the laws of the State of Delaware, and its wholly-owned subsidiary Elite Laboratories, Inc. ("Elite Labs") which was incorporated on August 23, 1990 under the laws of the State of Delaware. On January 5, 2012, Elite Pharmaceuticals was reincorporated under the laws of the State of Nevada. Elite Labs engages primarily in researching, developing, manufacturing and licensing generic, oral dose pharmaceuticals and proprietary orally administered, controlled-release drug delivery systems. The Company is equipped to manufacture immediate release and controlled-release products on a contract basis for third parties and itself, if and when the products are approved. These products include drugs that cover therapeutic areas that include, without limitation, pain, allergy, bariatric and infection. Research and development activities are done so with an objective of developing products that will secure marketing approvals from the United States Food and Drug Administration ("FDA"), and thereafter, commercially exploiting such products. Principles of Consolidation The accompanying audited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and in conformity with the instructions on Form 10-K and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Elite Laboratories, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements. Segment Information Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC 280"), Segment Reporting The Company has determined that its reportable segments are products whose marketing approvals were secured via an Abbreviated New Drug Applications ("ANDA") and products whose marketing approvals were secured via a New Drug Application ("NDA"). ANDA products are referred to as generic pharmaceuticals and NDA products are referred to as branded pharmaceuticals. There are currently no intersegment revenues. Asset information by operating segment is not presented below since the chief operating decision maker does not review this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company's audited consolidated financial statements. Please see Note 15 for further details. Revenue Recognition The Company generates revenue from the development of pain management products, manufacturing of a line of generic pharmaceutical products with approved ANDA, commercialization of products either by license and the collection of royalties, or through the manufacture of formulations and the development of new products and the expansion of licensing agreements with other pharmaceutical companies, including co-development projects, joint ventures and other collaborations. The Company also generates revenue through its focus on the development of various types of drug products, including branded drug products which require NDAs. Under ASC 606, Revenue from Contacts with Customers Nature of goods and services The following is a description of the Company's goods and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each, as applicable: a) Manufacturing Fees The Company manufacturers immediate-release and controlled release generic pharmaceutical products for which required FDA approvals have been received and are owned by the Company. These products are either sold directly by the Company, under its own label, or are sold under licenses granted to a third party, under a third-party label. Please note that while the Company is equipped to manufacture immediate-release and controlled release generic pharmaceutical which are owned by third parties, on a contract basis, it did not engage in any such contract manufacturing activities during the periods within the scope of these financial statements. The Company recognizes revenue when the customer obtains control of the Company's product based on the contractual shipping terms of the contract. Revenue on product are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement and bears risk of loss while the inventory is in-transit to the commercial partner. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to a customer. b) License Fees The Company enters into licensing and development agreements, which may include multiple revenue generating activities, including milestone payments, licensing fees, product sales and services. The Company analyzes each element of its licensing and development agreements in accordance with ASC 606 to determine appropriate revenue recognition. The terms of the license agreement may include payment to the Company of licensing fees, non-refundable upfront license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes revenue from non-refundable upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. For those milestone payments which are contingent on the occurrence of particular future events (for example, payments due upon a product receiving FDA approval), the Company determined that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty of the occurrence of future events, the Company will not recognize revenue from the milestone until there is not a high probability of a reversal of revenue, which typically occurs near or upon achievement of the event. Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in ASC 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company's contracts contained a significant financing component as of March 31, 2020. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the customer's products occurs. Disaggregation of revenue In the following table, revenue is disaggregated by type of revenue generated by the Company and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the reportable segments: For the Year Ended March 31, 2020 2019 NDA: Licensing fees $ 1,000,000 $ 1,000,000 Total NDA revenue 1,000,000 1,000,000 ANDA: Manufacturing fees $ 14,526,048 $ 5,387,696 Licensing fees 2,468,591 1,180,812 Total ANDA revenue 16,994,639 6,568,508 Total revenue $ 17,994,639 $ 7,568,508 Collaborative Arrangements Contracts are considered to be collaborative arrangements when they satisfy the following criteria defined in ASC 808, Collaborative Arrangements ● The parties to the contract must actively participate in the joint operating activity; and, ● The joint operating activity must expose the parties to the possibility of significant risk and rewards, based on whether or not the activity is successful. The Company entered into a sales and distribution licensing agreement with Epic Pharma LLC, ("Epic") dated June 4, 2015 (the "2015 Epic License Agreement"), which has been determined to satisfy the criteria for consideration as a collaborative agreement, and is accounted for accordingly, in accordance with GAAP. The 2015 Epic License Agreement expired on June 4, 2020 without renewal. The Company entered into a Master Development and License Agreement with SunGen Pharma LLC dated August 24, 2016 (the "SunGen Agreement"), which has been determined to satisfy the criteria for consideration as a collaborative agreement, and is accounted for accordingly, in accordance with GAAP. On April 3, 2020, Elite and SunGen mutually agreed to discontinue any further joint product development activities. Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances. Restricted Cash As of March 31, 2020, and March 31, 2019, the Company had $404,802 and $398,125 of restricted cash, respectively, related to debt service reserve in regard to the New Jersey Economic Development Authority ("NJEDA") bonds (see Note 5). Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for uncollectible accounts. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances. Inventory Inventory is recorded at the lower of cost or market on specific identification by lot number basis. Long-Lived Assets The Company periodically evaluates the fair value of long-lived assets, which include property and equipment and intangibles, whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Property and equipment are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from three to forty years. Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently. Upon retirement or other disposition of assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income. Intangible Assets The Company capitalizes certain costs to acquire intangible assets; if such assets are determined to have a finite useful life they are amortized on a straight-line basis over the estimated useful life. Costs to acquire indefinite lived intangible assets, such as costs related to ANDAs are capitalized accordingly. The Company tests its intangible assets for impairment at least annually (as of March 31st) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others and without limitation: a significant decline in the Company's expected future cash flows; a sustained, significant decline in the Company's stock price and market capitalization; a significant adverse change in legal factors or in the business climate of the Company's segments; unanticipated competition; and slower growth rates. As of March 31, 2020, the Company did not identify any indicators of impairment. Please also see Note 4 for further details on intangible assets. Research and Development Research and development expenditures are charged to expense as incurred. Contingencies Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company's consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Where applicable, the Company records a valuation allowance to reduce any deferred tax assets that it determines will not be realizable in the future. The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company operates in multiple tax jurisdictions within the United States of America. The Company remains subject to examination in all tax jurisdiction until the applicable statutes of limitation expire. As of March 31, 2020, a summary of the tax years that remain subject to examination in our major tax jurisdictions are: United States – Federal, 2015 and forward, and State, 2011 and forward. The Company did not record unrecognized tax positions for the years ended March 31, 2020 and 2019. Warrants and Preferred Shares The accounting treatment of warrants and preferred share series issued is determined pursuant to the guidance provided by ASC 470, Debt Distinguishing Liabilities from Equity Derivatives and Hedging Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation In accordance with the Company's Director compensation policy and certain employment contracts, director's fees and a portion of employee's salaries are to be paid via the issuance of shares of the Company's common stock, in lieu of cash, with the valuation of such share being calculated on a quarterly basis and equal to the average closing price of the Company's common stock. Earnings (Loss) Per Share Attributable to Common Shareholders' The Company follows ASC 260, Earnings Per Share The following is the computation of loss per share applicable to common shareholders for the periods indicated: Years Ended March 31, 2020 2019 Numerator Net loss attributable to common shareholders – basic $ (2,240,351 ) $ (9,279,320 ) Effect of dilutive instrument on net loss 1,111,548 (180,042 ) Net loss attributable to common shareholders - diluted $ (1,128,803 ) $ (9,459,362 ) Denominator Weighted average shares of common stock outstanding - basic 832,326,965 814,172,891 Dilutive effect of stock options, warrants and convertible securities 160,933,988 2,140,101 Weighted average shares of common stock outstanding – diluted 993,260,953 816,312,992 Net loss per share attributable to common shareholders Basic $ (0.00 ) $ (0.01 ) Diluted $ (0.00 ) $ (0.01 ) Fair Value of Financial Instruments ASC 820, Fair Value Measurements and Disclosures ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: Fair Value Measurement Using Amount at Level 1 Level 2 Level 3 March 31 2020 Liabilities Derivative financial instruments – warrants $ 3,599,378 $ - $ - $ 3,599,378 March 31, 2019 Liabilities Derivative financial instruments – warrants $ 2,487,830 $ - $ - $ 2,487,830 See Note 11, for specific inputs used in determining fair value. The carrying amounts of the Company's financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. Based upon current borrowing rates with similar maturities the carrying value of long-term debt approximates fair value. Non-Financial Assets that are Measured at Fair Value on a Non-Recurring Basis Non-financial assets such as intangible assets, and property and equipment are measured at fair value only when an impairment loss is recognized. The Company did not record an impairment charge related to these assets in the periods presented. Treasury Stock The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of shareholders' deficit. Recently Adopted Accounting Pronouncements The Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (ASC 842) On April 1, 2019, the Company adopted ASC 842 using the modified retrospective basis with a cumulative-effect adjustment at the beginning of the period of adoption and therefore did not revise prior period information or disclosure. Further, the Company elected the package of practical expedients upon transition that allows the Company not to reassess the lease classification for expired and existing leases, whether initial direct costs qualify for capitalization for any expired or existing leases or whether any expired contracts are or contain leases. The adoption of ASU 2016-02 resulted in the recognition of operating leases and lease liabilities of approximately $0.6 million on the consolidated balance sheet as of April 1, 2019. The operating leases and lease liabilities relate to a real estate lease. The impact of the adoption of ASC 842 on the accompanying consolidated balance sheet as of April 1, 2019 was as follows: March 31, Adoption April 1, 2019 Operating lease - right of use $ - $ 554,088 $ 554,088 Deferred rent liability $ 13,022 $ (13,022 ) $ - Lease obligation - operating lease $ - $ 191,817 $ 191,817 Lease obligation - operating lease, net of current portion $ - $ 375,293 $ 375,293 See additional lease disclosures in Note 9. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (ASC 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (ASC 808), Clarifying the Interaction between ASC 808 and ASC 606 In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments Financial Instruments - Credit Losses (ASC 326) Leases (ASC 842) Transfers and Servicing-Sales of Financial Assets (ASC 860-20) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Management has evaluated other recently issued accounting pronouncements and does not believe that any of these pronouncements will have a significant impact on our consolidated financial statements and related disclosures.

Inventory

Inventory	12 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
INVENTORY	NOTE 2. INVENTORY Inventory consisted of the following: March 31, March 31, Finished goods $ 138,981 $ 575,699 Work-in-progress 677,824 189,069 Raw materials 3,325,667 3,750,955 4,142,472 4,515,723 Less: Inventory reserve - - $ 4,142,472 $ 4,515,723

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 3. PROPERTY AND EQUIPMENT, NET Property and equipment consisted of the following: March 31, March 31, Land, building and improvements $ 5,260,524 $ 5,260,523 Laboratory, manufacturing, warehouse and transportation equipment 12,167,754 12,078,340 Office equipment and software 373,601 373,601 Furniture and fixtures 383,103 383,103 18,184,982 18,095,567 Less: Accumulated depreciation (10,957,334 ) (9,651,718 ) $ 7,227,648 $ 8,443,849 Depreciation expense was $1,305,616 and $1,242,739 for the years ended March 31, 2020 and 2019, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 4. INTANGIBLE ASSETS The following table summarizes the Company's intangible assets: March 31, 2020 Estimated Gross Useful Carrying Accumulated Net Book Life Amount Additions Reductions Amortization Value Patent application costs * $ 465,684 $ - $ - $ - $ 465,684 ANDA acquisition costs Indefinite 6,168,351 - - - 6,168,351 $ 6,634,035 $ - $ - $ - $ 6,634,035 March 31, 2019 Estimated Gross Useful Carrying Accumulated Net Book Life Amount Additions Reductions Amortization Value Patent application costs * $ 465,684 $ - $ - $ - $ 465,684 ANDA acquisition costs Indefinite 7,247,317 - (1,078,966 ) - 6,168,351 $ 7,713,001 $ - $ (1,078,966 ) $ - $ 6,634,035 * Patent application costs were incurred in relation to the Company's abuse deterrent opioid technology. Amortization of the patent costs will begin upon the issuance of marketing authorization by the FDA. Amortization will then be calculated on a straight-line basis through the expiry of the related patent(s). The following ANDA's, with an aggregate carrying amount of $291,491 were discontinued during Fiscal 2019: ● 40227 – Phentermine 30mg capsules ● 40448 – Phentermine 30mg capsules ● 40460 – Phentermine 15mg capsules The following ANDA's, with an aggregate carrying amount of $787,475 were transferred to Epic Pharma for cash consideration totaling $450,000 during Fiscal 2019: ● 40600 – Hydroxyzine 10mg ● 40602 – Hydroxyzine 25mg ● 40604 – Hydroxyzine 50mg The primary catalyst for the discontinuance and transfer of the above referenced ANDA's was the FDA's Generic Drug User Fee Amendment ("GDUFA") fee structure, which provides for additional annual fees in excess of $1.1 million (as per the most current fee schedule published in August 2018) for entities that own in excess of 19 ANDA's as of the annual April 15 measurement date. The ANDA's approved by the FDA subsequent to the prior year's measurement date, when added to those previously approved and owned by the Company, would have resulted in the Company owning more than 19 ANDA's. Management conducted an evaluation of all ANDA's held and the feasibility of incurring the additional GDUFA fees and identified the above ANDA's as being not significant to the Company's plans. The ANDA's that were discontinued were duplicates of ANDA's currently in commercial production and the ANDA's sold to Epic Pharma were related to products that were not qualified for manufacture at the Northvale Facility. The aggregate carrying amount of the four ANDAs discontinued or transferred during Fiscal 2020 was $0 and the aggregate cash consideration received in relation to the transfer of ANDAs was $1,502,500, resulting in a realized gain on transfer/discontinuance of intangible assets of $1,502,500. The aggregate carrying amount of the six ANDAs discontinued or transferred during Fiscal 2019 was $1,078,966 and the aggregate cash consideration received in relation to the transfer of ANDAs was $450,000, resulting in a realized loss on transfer/discontinuance of intangible assets of $628,966.

NJEDA Bonds

NJEDA Bonds	12 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
NJEDA BONDS	NOTE 5. NJEDA BONDS During August 2005, the Company refinanced a bond issue occurring in 1999 through the issuance of Series A and B Notes tax-exempt bonds (the "NJEDA Bonds" and/or "Bonds"). During July 2014, the Company retired all outstanding Series B Notes, at par, along with all accrued interest due and owed. In relation to the Series A Notes, the Company is required to maintain a debt service reserve. The debt service reserve is classified as restricted cash on the accompanying audited consolidated balance sheets. The NJEDA Bonds require the Company to make an annual principal payment on September 1 st st st The following tables summarize the Company's bonds payable liability: March 31, March 31, Gross bonds payable NJEDA Bonds - Series A Notes $ 1,575,000 $ 1,670,000 Less: Current portion of bonds payable (prior to deduction of bond offering costs) (105,000 ) (95,000 ) Long-term portion of bonds payable (prior to deduction of bond offering costs) $ 1,470,000 $ 1,575,000 Bond offering costs $ 354,454 $ 354,453 Less: Accumulated amortization (206,765 ) (192,591 ) Bond offering costs, net $ 147,689 $ 161,862 Current portion of bonds payable - net of bond offering costs Current portions of bonds payable $ 105,000 $ 95,000 Less: Bonds offering costs to be amortized in the next 12 months (14,178 ) (14,178 ) Current portion of bonds payable, net of bond offering costs $ 90,822 $ 80,822 Long term portion of bonds payable - net of bond offering costs Long term portion of bonds payable $ 1,470,000 $ 1,575,000 Less: Bond offering costs to be amortized subsequent to the next 12 months (133,511 ) (147,685 ) Long term portion of bonds payable, net of bond offering costs $ 1,336,489 $ 1,427,315 Amortization expense was $14,174 and $14,172 for the years ended March 31, 2020 and 2019, respectively. Maturities of bonds for the next five years are as follows: Years ending March 31, Amount 2021 $ 105,000 2022 110,000 2023 115,000 2024 125,000 2025 130,000 Thereafter 990,000 $ 1,575,000

Loans Payable

Loans Payable	12 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
LOANS PAYABLE	NOTE 6. LOANS PAYABLE Loans payable consisted of the following: March 31, March 31, Equipment and insurance financing loans payable, between 3.5% and 12.73% interest and maturing between March 2020 and July 2024 $ 1,025,452 $ 1,272,298 Less: Current portion of loans payable (561,550 ) (573,029 ) Long-term portion of loans payable $ 463,902 $ 699,269 The interest expense associated with the loans payable was $79,870 and $114,980 for the years ended March 31, 2020 and 2019, respectively. Loan principal payments for the next five years are as follows: Years ending March 31, Amount 2021 $ 561,550 2022 249,316 2023 169,444 2024 45,142 $ 1,025,452

Related Party Secured Promissor

Related Party Secured Promissory Note with Mikah Pharma LLC	12 Months Ended
	Mar. 31, 2020
Epic Pharma Llc [Member]
RELATED PARTY SECURED PROMISSORY NOTE WITH MIKAH PHARMA LLC	NOTE 7. RELATED PARTY SECURED PROMISSORY NOTE WITH MIKAH PHARMA LLC For consideration of the assets acquired on May 15, 2017, the Company issued a Secured Promissory Note (the "Note") to Mikah for the principal sum of $1,200,000. The Note matures on December 31, 2020 in which the Company shall pay the outstanding principal balance of the Note. Interest shall be computed on the unpaid principal amount at the per annum rate of ten percent (10%); provided, upon the occurrence of an Event of Default as defined within the Note, the principal balance shall bear interest from the date of such occurrence until the date of actual payment at the per annum rate of fifteen percent (15%). All interest payable hereunder shall be computed on the basis of actual days elapsed and a year of 360 days. Instalment payments of interest on the outstanding principal shall be paid as follows: quarterly commencing August 1, 2017 and on November 1, February 1, May 1 and August 1 of each year thereafter. No principal or interest payments have been made on the Note since its issuance. All unpaid principal and accrued but unpaid interest shall be due and payable in full on the Maturity Date. The interest expense associated with the Note was $120,000 for the years ended March 31, 2020 and 2019. Accrued interest due and owing on this note was $345,000 and $225,000 as of March 31, 2020 and March 31, 2019, respectively.

Deferred Revenue

Deferred Revenue	12 Months Ended
	Mar. 31, 2020
Deferred Revenue Disclosure [Abstract]
DEFERRED REVENUE	NOTE 8. DEFERRED REVENUE Deferred revenues in the aggregate amount of $238,891 as of March 31, 2020, were comprised of a current component of $180,000 and a long-term component of $58,891. Deferred revenues in the aggregate amount of $1,252,223 as of March 31, 2019, were comprised of a current component of $1,013,333 and a long-term component of $238,890. These line items represent the unamortized amounts of a $200,000 advance payment received for a TAGI licensing agreement with a fifteen-year term beginning in September 2010 and ending in August 2025 and the $5,000,000 advance payment Epic Collaborative Agreement with a five-year term beginning in June 2015 and ending in May 2020. These advance payments were recorded as deferred revenue when received and are earned, on a straight-line basis over the life of the licenses. The current component is equal to the amount of revenue to be earned during the 12-month period immediately subsequent to the balance date and the long-term component is equal to the amount of revenue to be earned thereafter.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 9. COMMITMENTS AND CONTINGENCIES Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that is both probable that a liability has been incurred, and the amount can be reasonably estimated. If these estimates and assumptions change or prove to be incorrect, it could have a material impact on the Company's consolidated financial statements. Contingencies are inherently unpredictable, and the assessments of the value can involve a series of complex judgments about future events and can rely heavily on estimates and assumptions. Operating Leases – 135 Ludlow Ave. The Company entered into an operating lease for a portion of a one-story warehouse, located at 135 Ludlow Avenue, Northvale, New Jersey (the "135 Ludlow Ave. lease"). The 135 Ludlow Ave. lease is for approximately 15,000 square feet of floor space and began on July 1, 2010. During July 2014, the Company modified the 135 Ludlow Ave. lease in which the Company was permitted to occupy the entire 35,000 square feet of floor space in the building ("135 Ludlow Ave. modified lease"). The 135 Ludlow Ave. modified lease includes an initial term, which expired on December 31, 2016 with two tenant renewal options of five years each, at the sole discretion of the Company. On June 22, 2016, the Company exercised the first of these renewal options, with such option including a term that begins on January 1, 2017 and expires on December 31, 2021. The 135 Ludlow Ave. property required significant leasehold improvements and qualifications, as a prerequisite, for its intended future use. Manufacturing, packaging, warehousing and regulatory activities are currently conducted at this location. Additional renovations and construction to further expand the Company's manufacturing resources are in process. The Company assesses whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, the Company determines the classification and initial measurement of the right-of-use asset and lease liability at the lease commencement date, which is the date that the underlying asset becomes available for use. The Company has elected to account for non-lease components associated with our leases and lease components as a single lease component. The Company recognizes a right-of-use asset, which represents the Company's right-of-use the underlying asset for the lease term, and a lease liability, which represents the present value of the Company's obligation to make payments arising over the lease term. The present value of the lease payments is calculated using either the implicit interest rate in the lease or an incremental borrowing rate. Lease assets and liabilities are classified as follows on the consolidated balance sheet: Lease Classification As of Assets Operating Operating lease – right-of-use asset $ 363,282 Total leased assets $ 363,282 Liabilities Current Operating Lease obligation – operating lease $ 208,184 Long-term Operating Lease obligation – operating lease, net of current portion 167,109 Total lease liabilities $ 375,293 Rent expense is recorded on the straight-line basis. Rent expense under the 135 Ludlow Ave. modified lease for the years ended March 31, 2020 and 2019, was $220,650 and $219,638, respectively. Rent expense is recorded in general and administrative expense in the audited consolidated statements of operations. The table below show the future minimum rental payments, exclusive of taxes, insurance and other costs, under the 135 Ludlow Ave. modified lease: Years ending March 31, Amount 2021 $ 225,063 2022 171,315 Total future minimum lease payments 396,378 Less: interest (21,085 ) Present value of lease payments $ 375,293 The weighted-average remaining lease term and the weighted-average discount rate of our lease was as follows: Lease Term and Discount Rate March 31, Remaining lease term (years) Operating leases 1.8 Discount rate Operating leases 6 % The Company has an obligation for the restoration of its leased facility and the removal or dismantlement of certain property and equipment as a result of its business operation in accordance with ASC 410, Asset Retirement and Environmental Obligations – Asset Retirement Obligations

Preferred Stock

Preferred Stock	12 Months Ended
	Mar. 31, 2020
Equity [Abstract]
PREFERRED STOCK	NOTE 10. PREFERRED STOCK Series J convertible preferred stock On April 28, 2017, the Company created the Series J Convertible Preferred Stock (“Series J Preferred”) in conjunction with the Certificate of Designations (“Series J COD”). A total of 50 shares of Series J Preferred were authorized, 24.0344 shares are issued and outstanding, with a stated value of $1,000,000 per share and a par value of $0.01 as of March 31, 2020. The shares were issued pursuant to an Exchange Agreement with Nasrat Hakim, (“Hakim”) a related party and the Company’s President, CEO and Chairman of the Board of Directors. Pursuant to the Exchange Agreement the Company exchanged 158,017,321 shares of Common Stock for 24.0344 shares of Series J Preferred and warrants to purchase 79,008,661 shares of common stock at $0.1521 per share. The aggregate stated value of the Series J Preferred issued was equal to the aggregate value of the shares of common stock exchanged, with such value of each share of Common Stock exchanged being equal to the closing price of the Common Stock on April 27, 2017. In connection with the Exchange Agreement, the Company also issued warrants to purchase 79,008,661 shares of common stock at $0.1521 per share, and such warrants were classified as liabilities on the accompanying audited consolidated balance sheet as of March 31, 2020 (See Note 11). Each Series J Preferred is convertible at the option of the holder into shares of common stock, that is the earlier of (i) the date that shareholder approval is obtained, and the requisite corporate action has been effected regarding a Fundamental Transaction (as defined in the Series J COD); or (ii) not less than three years subsequent to the Original Issue Date (the date of the first issuance of any shares of the Series J Preferred Stock) (the “Conversion Date”). The number of common shares is calculated by dividing the Stated Value of such share of Series J Preferred by the Conversion Price. The conversion price for the Series J Preferred shall equal $0.1521, subject to adjustment as discussed below. Based on the current conversion price, the Series J Preferred is convertible into 158,017,321 shares of common stock. The conversion price is subject to the following adjustments: (i) stock dividends and splits, (ii) sale or grant of shares below the conversion price, unless such adjustment is specifically excluded (iii) pro rata distributions; or (iv) fundamental changes (merger, consolidation, or sale of all or substantially all assets). The holders of the Series J Preferred shall have voting rights on any matter presented to the shareholders of the Company for their action or consideration at any meeting of shareholders of the Company (or by written consent of shareholders in lieu of meeting). Each holder shall be entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of Series J Preferred held by the holder are convertible as of the record date for determining the shareholders entitled to vote on such matter regardless of whether an Authorized Share Deficiency Exists. The Company has determined that the Series J Preferred host instrument was more akin to equity than debt and that the above identified conversion feature, subject to adjustments, was clearly and closely related to the host instrument, and accordingly bifurcation and classification of the conversion feature as a derivative liability was not required. The Company has accounted for the Series J Preferred as contingently redeemable preferred stock for which redemption is not probable. Accordingly, the Series J Preferred is presented in mezzanine equity based on their initial measurement amount (fair value), as required by ASC 480-10-S99, Distinguishing Liabilities from Equity – SEC Materials. No subsequent adjustment of the initial measurement amounts for these contingently redeemable Series J Preferred is necessary unless the redemption of the Series J Preferred becomes probable. Accordingly, the amount presented as temporary equity for the contingently redeemable Series J Preferred outstanding is its issuance-date fair value. The Series J Preferred was initially measured at its fair value, $13,903,960 at April 28, 2017. The fair value of the Series J Preferred issued by the Company pursuant to the exchange agreement was calculated using a Monte Carlo Simulation because of the probability assumptions associated with the shareholder approval provisions; the following are the Monte Carlo inputs: April 28, Fair value of the Company’s common stock $ 0.1521 Initial exercise price $ 0.1521 Number of Series J Preferred issued 24.0344 Fully diluted shares outstanding as of measurement date 923,392,780 Risk-free rate 2.30 % Volatility 90.00 % Shareholder approval threshold $ 0.1521 Probability of approval is ending stock price is greater than threshold - midpoint 82.50 % Probability of approval is ending stock price is greater than threshold - midpoint 17.50 % Trials 200,000 Authorized, issued and outstanding shares, along with carrying value are as follows: March 31, March 31, Shares authorized 50.000 50.000 Shares outstanding 24.0344 24.0344 Par value $ 0.01 $ 0.01 Stated value $ 1,000,000 $ 1,000,000 Conversion price $ 0.1521 $ 0.1521 Common Stock to be issued upon conversion 158,017,321 158,017,321 Carrying value of Series J convertible preferred stock $ 13,903,960 $ 13,903,960 Increase in Authorized Shares An amendment to the Company’s Articles of Incorporation to increase the number of shares of common stock the Company is authorized to issue from 995,000,000 shares to 1,445,000,000 shares was approved at the Company’s Annual Meeting of Shareholders held on December 4, 2019. Prior to the approval of the increase in the number of authorized shares, there were insufficient authorized shares if the Series J Preferred Stock were converted. As a result, the shares were classified in mezzanine equity. After the approval of the increase in the number of authorized shares, there are now sufficient authorized shares in the event of a full conversion of Series J Preferred Stock. With the approval of the increase in the number of authorized shares, there is no longer the presumption that a cash settlement will be required. Therefore, the Series J Preferred has been reclassified from mezzanine equity to permanent equity at its current carrying amount of $13,903,960 on the accompanying consolidated balance sheet.

Derivative Financial Instrument

Derivative Financial Instruments - Warrants	12 Months Ended
	Mar. 31, 2020
Derivative Financial Instruments Warrants Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS - WARRANTS	NOTE 11. DERIVATIVE FINANCIAL INSTRUMENTS – WARRANTS The Company evaluates and accounts for its freestanding instruments in accordance with ASC 815, Accounting for Derivative Instruments and Hedging Activities The Company issued warrants, with a term of seven years, to Nasrat Hakim, pursuant to the Exchange Agreement detailed below. A summary of warrant activity is as follows: March 31 2020 March 31, 2019 Warrant Weighted Warrant Weighted Balance at beginning of period 79,008,661 $ 0.1521 79,008,661 $ 0.1521 Warrants granted pursuant to the issuance of Series J convertible preferred shares - - - - Warrants exercised, forfeited and/or expired, net - - - - Balance at end of period 79,008,661 $ 0.1521 79,008,661 $ 0.1521 On April 28, 2017, the Company entered into an exchange agreement (the "Exchange Agreement" "Series J Preferred Securities" The Series J Warrants are exercisable for a period of 10 years from the date of issuance, commencing on the earlier of (i) the date that Shareholder Approval is obtained, and the requisite corporate action has been effected; or (ii) April 28, 2020. The initial exercise price is $0.1521 per share and the Series J Warrants can be exercised for cash or on a cashless basis. The exercise price is subject to adjustment for any issuances or deemed issuances of common stock or common stock equivalents at an effective price below the then exercise price. Such exercise price adjustment feature prohibits the Company from being able to conclude the warrants are indexed to its own stock and thus such warrants are classified as liabilities and measured initially and subsequently at fair value. The Series J Warrants also provide for other standard adjustments upon the happening of certain customary events. The Series J Warrants are not exercisable during any period when an Authorized Share Deficiency exists and will expire on the expiry date, without regards to the existence of an Authorized Shares Deficiency (see Note 10). As of March 31, 2020, the Company does not have a sufficient number of unreserved authorized shares to effect the entire conversion of the Series J Preferred, therefore the Series J Warrants are not currently exercisable. Please also see Note 10. The fair value of the warrants issued by the Company pursuant to the issuance of Series J convertible preferred shares (79,008,661 warrant shares) was calculated using a Monte Carlo Simulation because of the probability assumptions associated with the Shareholder Approval provisions. The following are the key assumptions used in the Monte Carlo Simulation: March 31, Fair value of the Company's Common Stock $ 0.9900 Initial exercise price $ 0.1521 Number of common warrants 79,008,661 Fully diluted shares outstanding as of measurement date 824,946,559 Warrant term (in years) 8.08 Risk-free rate 2.35 % Volatility 90.00 % Shareholder approval threshold $ 0.1580 Probability of approval if ending stock price is greater than threshold - midpoint 82.50 % Probability of approval if ending stock price is greater than threshold - midpoint 17.50 % Trials 100,000 Fair value of derivative financial instruments - warrants $ 2,487,830 The fair value of the warrants issued by the Company pursuant to the issuance of Series J convertible preferred shares (79,008,661 warrant shares) was calculated using a Black-Scholes model instead of a Monte Simulation because the probability with the shareholder approval provisions was no longer a factor. The following assumptions were used in the Black-Scholes model to calculate the fair value of warrants issued by the Company pursuant to the issuance of Series J convertible preferred shares (79,008,661 warrant shares): March 31, Fair value of the Company's common stock $ 0.0720 Volatility 83.81 % Initial exercise price $ 0.1521 Warrant term (in years) 7.1 Risk free rate 0.55 % The changes in warrants (Level 3 financial instruments) measured at fair value on a recurring basis for the year ended March 31, 2020 were as follows: Balance as of March 31, 2018 $ 2,667,871 Change in fair value of derivative financial instruments - warrants (180,041 ) Balance as of March 31, 2019 2,487,830 Change in fair value of derivative financial instruments - warrants 1,111,548 Balance as of March 31, 2020 $ 3,599,378

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 12. SHAREHOLDERS' EQUITY Lincoln Park Capital – May 1, 2017 Purchase Agreement On May 1, 2017, the Company entered into a purchase agreement (the " 2017 LPC Purchase Agreement 2017 LPC Registration Rights Agreement Under the terms and subject to the conditions of the 2017 LPC Purchase Agreement, the Company has the right to sell to and Lincoln Park is obligated to purchase up to $40 million in shares of common stock, subject to certain limitations, from time to time, over the 36-month period commencing on June 5, 2017. The Company may direct Lincoln Park, at its sole discretion and subject to certain conditions, to purchase up to 500,000 shares of common stock on any business day, provided that at least one business day has passed since the most recent purchase, increasing to up to 1,000,000 shares, depending upon the closing sale price of the common stock (such purchases, " Regular Purchases In connection with the 2017 LPC Purchase Agreement, the Company issued to Lincoln Park 5,540,551 shares of common stock and is required to issue up to 5,540,551 additional shares of Common Stock pro rata as the Company requires Lincoln Park to purchase shares under the 2017 LPC Purchase Agreement over the term of the agreement. Lincoln Park has represented to the Company, among other things, that it is an "accredited investor" (as such term is defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the "Securities Act")). The Company sold the securities in reliance upon an exemption from registration contained in Section 4(a)(2) under the Securities Act. The securities sold may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The 2017 LPC Purchase Agreement and the 2017 LPC Registration Rights Agreement contain customary representations, warranties, agreements and conditions to completing future sale transactions, indemnification rights and obligations of the parties. The Company has the right to terminate the 2017 LPC Purchase Agreement at any time, at no cost or penalty. Actual sales of shares of common stock to Lincoln Park under the 2017 LPC Purchase Agreement will depend on a variety of factors to be determined by us from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by us as to the appropriate sources of funding for us and our operations. There are no trading volume requirements or, other than the limitation on beneficial ownership discussed above, restrictions under the 2017 LPC Purchase Agreement. Lincoln Park has no right to require any sales by the Company but is obligated to make purchases from the Company as directed in accordance with the 2017 LPC Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the Company's shares. The net proceeds received by the Company under the 2017 LPC Purchase Agreement will depend on the frequency and prices at which the Company sells shares of common stock to Lincoln Park. A registration statement on Form S-3 The Company, from time to time and at the Company's sole discretion but no more frequently than every other business day, could direct Lincoln Park to purchase (a "Regular Purchase") up to 500,000 shares of common stock on any such business day, increasing up to 1,000,000 shares, depending upon the closing sale price of the common stock, provided that in no event shall Lincoln Park purchase more than $760,000 worth of common stock on any single business day. The purchase price of shares of common stock related to the future Regular Purchase funding will be based on the prevailing market prices of such shares at the time of sales (or over a period of up to ten business days leading up to such time), but in no event, will shares be sold to Lincoln Park on a day the Common Stock closing price is less than the floor price of $0.10 per share, subject to adjustment. In addition to Regular Purchases, on any business day on which the Company has properly submitted a Regular Purchase notice and the closing sale price is not below $0.15, the Company may purchase (an "Accelerated Purchase") an additional "accelerated amount" under certain circumstances. The amount of any Accelerated Purchase cannot exceed the lesser of three times the number of purchase shares purchased pursuant to the corresponding Regular Purchase; and 30% of the aggregate shares of the Company's common stock traded during normal trading hours on the purchase date. The purchase price per share for each such Accelerated Purchase will be equal to the lower of (i) 97% of the volume weighted average price during the purchase date; or (ii) the closing sale price of the Company's common stock on the purchase date. In the case of both Regular Purchases and Accelerated Purchases, the purchase price per share will be equitably adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring during the business days used to compute the purchase price. Other than as set forth above, there are no trading volume requirements or restrictions under the Purchase Agreement, and the Company will control the timing and amount of any sales of the Company's common stock to Lincoln Park. The Company's sales of shares of common stock to Lincoln Park under the Purchase Agreement are limited to no more than the number of shares that would result in the beneficial ownership by Lincoln Park and its affiliates, at any single point in time, of more than 9.99% of the then outstanding shares of common stock. The Purchase Agreement and the Registration Rights Agreement contain customary representations, warranties, agreements, and conditions to completing future sale transactions, indemnification rights and obligations of the parties. The Company has the right to terminate the Purchase Agreement at any time, at no cost or penalty. Actual sales of shares of common stock to Lincoln Park under the Purchase Agreement will depend on a variety of factors to be determined by the Company from time to time, including, without limitation, market conditions, the trading price of the Common Stock and determinations by the Company as to appropriate sources of funding for the Company and its operations. There are no trading volume requirements or restrictions under the Purchase Agreement. Lincoln Park has no right to require any sales by the Company but is obligated to make purchases from the Company as it directs in accordance with the Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of Company shares. During the year ended March 31, 2020, a total of 15,358,627 shares were sold to Lincoln Park pursuant to the 2017 LPC Agreement for net proceeds totaling $1,437,978. In addition, 199,181 shares were issued to Lincoln Park as additional commitment shares, pursuant to the 2017 LPC Agreement. During the year ended March 31, 2019, a total of 22,033,967 shares were sold to Lincoln Park pursuant to the 2017 LPC Agreement for net proceeds totaling $2,063,541. In addition, 285,831 shares were issued to Lincoln Park as additional commitment shares, pursuant to the 2017 LPC Agreement. Summary of Common Stock Activity During the years ended March 31, 2020 and 2019, the Company issued 15,557,808 and 22,319,798 shares of Common Stock, respectively, with such issuances of Common Stock being summarized as follows: Years Ended March 31, 2020 2019 Common Stock issued as of March 31, 2019 and 2018, respectively 824,946,559 802,626,761 Common Stock sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $1,437,978 and $2,063,541 for the years ended March 31, 2020 and 2019, respectively. 15,358,627 22,033,967 Common Stock issued as initial and additional commitment shares pursuant to the Lincoln Park Capital Purchase Agreements 199,181 285,831 Common Stock issued during the fiscal year 15,557,808 22,319,798 Common Stock issued as of March 31, 2020 and 2019, respectively 840,504,367 824,946,559

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 13. STOCK-BASED COMPENSATION Part of the compensation paid by the Company to its Directors and employees consists of the issuance of common stock or via the granting of options to purchase common stock. Stock-based Director Compensation The Company's Director compensation policy was instituted in October 2009 and further revised in January 2016, includes provisions that a portion of director's fees are to be paid via the issuance of shares of the Company's common stock, in lieu of cash, with the valuation of such shares being calculated on quarterly basis and equal to the average closing price of the Company's common stock. During the year ended March 31, 2020, the Company did not issue any shares of common stock to its Directors in payment of director's fees. During the year ended March 31, 2020, the Company accrued director's fees totaling $60,000, which will be paid via cash payments totaling $30,000 and the issuance of 756,725 shares of Common Stock. As of March 31, 2020, the Company owed its Directors a total of $67,500 in cash payments and 1,550,342 shares of Common Stock in payment of director fees totaling $202,500 due and owing. The Company anticipates that these shares of Common Stock will be issued prior to the end of the current fiscal year. Stock-based Employee/Consultant Compensation Employment contracts with the Company's President and Chief Executive Officer, Chief Financial Officer and certain other employees and engagement contracts with certain consultants include provisions for a portion of each employee's salaries or consultant's fees to be paid via the issuance of shares of the Company's Common Stock, in lieu of cash, with the valuation of such shares being calculated on a quarterly basis and equal to the average closing price of the Company's Common Stock. During the year ended March 31, 2020, the Company did not issue any shares pursuant to employment contracts with the Company's President and Chief Executive Officer, Chief Financial Officer or certain other employees. During the year ended March 31, 2020, the Company did not issue any shares pursuant to the engagement contracts with certain consultants. During the year ended March 31, 2020, the Company accrued salaries totaling $305,000 owed to the Company's President and Chief Executive Officer, Chief Financial Officer and certain other employees which will be paid via the issuance of 3,846,685 shares of Common Stock. As of March 31, 2020, the Company owed its President and Chief Executive Officer, Chief Financial Officer and certain other employees' salaries totaling $2,311,250 which will be paid via the issuance of 24.8 million shares of Common Stock. Options Under its 2014 Stock Option Plan and prior option plans, the Company may grant stock options to officers, selected employees, as well as members of the Board of Directors and advisory board members. All options have generally been granted at a price equal to or greater than the fair market value of the Company's Common Stock at the date of the grant. Generally, options are granted with a vesting period of up to three years and expire ten years from the date of grant. Weighted Shares Weighted Remaining Aggregate Options Price (in years) Value Outstanding at March 31, 2018 6,618,000 $ 0.16 6.1 $ 90,390 Granted - Forfeited and expired (460,000 ) Exercised - Outstanding at March 31, 2019 6,158,000 $ 0.15 5.0 $ 87,330 Granted 115,000 $ 0.10 9.5 Forfeited and expired (898,000 ) Exercised - Outstanding at March 31, 2020 5,375,000 $ 0.14 4.1 $ 6,000 Exercisable at March 31, 2020 4,953,334 $ 0.14 4.1 $ 6,000 The aggregate intrinsic value for outstanding options is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company common stock as of March 31, 2020 and March 31, 2019 of $0.07 and $0.10, respectively.

Concentrations and Credit Risk

Concentrations and Credit Risk	12 Months Ended
	Mar. 31, 2020
Risks and Uncertainties [Abstract]
CONCENTRATIONS AND CREDIT RISK	NOTE 14. CONCENTRATIONS AND CREDIT RISK Revenues Three customers accounted for approximately 92% of the Company’s revenues for the year ended March 31, 2020. These three customers accounted for approximately 55%, 24%, and 13% of revenues each. Four customers accounted for substantially all the Company’s revenues for the year ended March 31, 2019. These four customers accounted for approximately 57%, 22%, 9% and 8% of revenues each, respectively. Accounts Receivable Four customers accounted for substantially all the Company’s accounts receivable as of March 31, 2020. These four customers accounted for approximately 73%, 13%, 8% and 5% of accounts receivable each. Four customers accounted for substantially all the Company’s accounts receivable as of March 31, 2019. These four customers accounted for approximately 38%, 34%, 19%, and 4% of accounts receivable each. Purchasing Three suppliers accounted for approximately 71% of the Company’s purchases of raw materials for the year ended March 31, 2020. These three suppliers that accounted for approximately 41%, 23%, and 7% of purchases each. Three suppliers accounted for more than 60% of the Company’s purchases of raw materials for year ended March 31, 2019. These three suppliers accounted for approximately 35%, 17% and 11% of purchases each, respectively.

Segment Results

Segment Results	12 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT RESULTS	NOTE 15. SEGMENT RESULTS ASC 280-10-50 requires use of the “management approach” model for segment reporting. The management approach is based on the way a company’s management organized segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. The Company has determined that its reportable segments are ANDAs for generic products and NDAs for branded products. The Company identified its reporting segments based on the marketing authorization relating to each and the financial information used by its chief operating decision maker to make decisions regarding the allocation of resources to and the financial performance of the reporting segments. Asset information by operating segment is not presented below since the chief operating decision maker does not review this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company’s audited consolidated financial statements. The following represents selected information for the Company’s reportable segments: Years Ended March 31, 2020 2019 Revenue by Segment ANDA $ 16,994,639 $ 6,568,508 NDA 1,000,000 1,000,000 $ 17,994,639 $ 7,568,508 Years Ended March 31, 2020 2019 Operating Income (Loss) by Segment ANDA $ 3,579,047 $ (4,361,649 ) NDA 580,414 122,961 $ 4,159,461 $ (4,238,688 ) The table below reconciles the Company’s operating loss by segment to loss from operations before provision for income taxes as reported in the Company’s audited consolidated statements of operations. Years Ended March 31, 2020 2019 Operating income (loss) by segment $ 4,159,461 $ (4,238,688 ) Corporate unallocated costs (2,721,103 ) (2,683,720 ) Interest income 11,980 8,448 Interest expense and amortization of debt issuance costs (355,874 ) (369,174 ) Depreciation and amortization expense (1,319,795 ) (1,206,495 ) Significant non-cash items (901,472 ) (1,645,750 ) Change in fair value of derivative instruments (1,111,548 ) 180,042 Loss from operations before income tax $ (2,238,351 ) $ (9,955,337 )

Collaborative Agreement with Ep

Collaborative Agreement with Epic Pharma LLC	12 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COLLABORATIVE AGREEMENT WITH EPIC PHARMA LLC	NOTE 16. COLLABORATIVE AGREEMENT WITH EPIC PHARMA LLC On June 4, 2015, the Company executed an exclusive License Agreement (the " 2015 SequestOx™ License Agreement 2015 SequestOx™ License Agreement 2015 SequestOx™ License Agreement

Collaborative Agreement with Su

Collaborative Agreement with Sungen Pharma LLC	12 Months Ended
	Mar. 31, 2020
Collaborative Agreement with Sungen Pharma LLC [Abstract]
COLLABORATIVE AGREEMENT WITH SUNGEN PHARMA LLC	NOTE 17. COLLABORATIVE AGREEMENT WITH SUNGEN PHARMA LLC On August 24, 2016, as amended we entered into an agreement with SunGen Pharma LLC ("SunGen") (the "SunGen Agreement") to undertake and engage in the research, development, sales and marketing of eight generic pharmaceutical products. Two of the products are classified as CNS stimulants (the "CNS Products"), two of the products are classified as beta blockers and the remaining four products consist of antidepressants, antibiotics and antispasmodics. The Company has received approval from the FDA for Amphetamine IR Tablets, Amphetamine ER Capsules and has filed an ANDA for an antibiotic product. Under the terms of the SunGen Agreement, Elite and SunGen will share in the responsibilities and costs in the development of these products and will share substantially in the profits from sales. Upon approval, the know-how and intellectual property rights to the products will be owned jointly by Elite and SunGen. Three of the eight products will be jointly owned, three products will be owned by SunGen, with Elite having exclusive marketing rights and the remaining two products will be owned by Elite, with SunGen having exclusive marketing rights. Elite will manufacture and package all eight products on a cost-plus basis. On December 10, 2018, the Company received approval from the FDA for Amphetamine IR Tablets, a generic version of Adderall ® On January 3, 2019, the Company filed an ANDA with the FDA for a generic version of an antibiotic product. According to QVIA (formerly QuintilesIMS Health) data, the branded product for this antibiotic and its equivalents had total annual U.S. sales of approximately $94 million for the twelve months ending September 30, 2018. The product is jointly owned by Elite and SunGen. Upon approval by the FDA of this ANDA, Elite will manufacture and package the product on a cost-plus basis. The ANDA is currently under review by the FDA. On December 12, 2019, the Company received approval from the FDA for Amphetamine ER Capsules, a generic version of Adderall XR ® On April 3, 2020, the Company and SunGen mutually agreed to discontinue any further joint product development activities. In May 2020, SunGen, under an asset purchase agreement, assigned its rights and obligations under the Master Development and License Agreement for Amphetamine IR and Amphetamine ER to Mikah Pharmaceuticals. The ANDAs for Amphetamine IR and Amphetamine ER are now registered under Elite's name. Mikah will now be Elite's partner with respect to Amphetamine IR and ER and will assume all the rights and obligations for these products from SunGen. There can be no assurances that any of these products will receive marketing authorization and achieve commercialization within this time period, or at all. In addition, even if marketing authorization is received, and even for those products for which marketing authorization has already been received, there can be no assurances that there will be future revenues of profits, or that any such future revenues or profits would be in amounts that provide adequate return on the significant investments made to secure these marketing authorizations or provide sufficient financial contributions to support costs of operations and overheads.

Related Party Transaction Agree

Related Party Transaction Agreements With Epic Pharma LLC	12 Months Ended
	Mar. 31, 2020
Epic Pharma Llc [Member]
RELATED PARTY TRANSACTION AGREEMENTS WITH EPIC PHARMA LLC	NOTE 18. RELATED PARTY TRANSACTION AGREEMENTS WITH EPIC PHARMA LLC The Company has entered into two agreements with Epic which constitute agreements with a related party due to the management of Epic including a member on our Board of Directors at the time such agreements were executed. On June 4, 2015, the Company entered into the 2015 Epic License Agreement (please see Note 16 above). The 2015 Epic License Agreement includes milestone payments totaling $10 million upon the filing with and approval of an NDA with the FDA. The Company has determined these milestones to be substantive, with such assessment being made at the inception of the 2015 Epic License Agreement, and based on the following: ● The Company's performance is required to achieve each milestone; and ● The milestones will relate to past performance, when achieved; and ● The milestones are reasonable relative to all of the deliverables and payment terms within the 2015 Epic License Agreement The 2015 SequestOx™ License Agreement 2015 SequestOx™ License Agreement This transaction is not to be considered as an arms-length transaction. Please also note that, effective April 7, 2016, all Directors on the Company's Board of Directors that were also owners/managers of Epic had resigned as Directors of the Company and all current members of the Company's Board of Directors have no relationship to Epic. Accordingly, Epic no longer qualifies as a party that is related to the Company.

Manufacturing, License and Deve

Manufacturing, License and Development Agreements	12 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
MANUFACTURING, LICENSE AND DEVELOPMENT AGREEMENTS	NOTE 19. MANUFACTURING, LICENSE AND DEVELOPMENT AGREEMENTS The Company has entered into the following active agreements: ● License agreement with Precision Dose, dated September 10, 2010, as amended (the "Precision Dose License Agreement"); ● Development and License Agreement with SunGen (the "SunGen Agreement"); ● Strategic Marketing Alliance with Glenmark Pharmaceuticals, Inc. USA dated May 22, 2018 (the "Glenmark Alliance"). ● Strategic Marketing Alliance with Lannett Company. Inc. dated March 6, 2019 (the "Lannett-SunGen Product Alliance") ● Strategic Marketing Alliance with Lannett Company. Inc. dated April 9, 2019 (the "Lannett-Elite Product Alliance") The Precision Dose Agreement currently provides for the marketing and distribution, by Precision Dose and its wholly owned subsidiary, TAGI Pharma, of Phentermine 37.5mg tablets (launched in April 2011), Phentermine 15mg capsules (launched in April 2013), Phentermine 30mg capsules (launched in April 2013), Naltrexone 50mg tablets (launched in September 2013) and certain additional products that require approval from the FDA which has not been received. Precision Dose will have the exclusive right to market these products in the United States and Puerto Rico and a non-exclusive right to market the products in Canada. Pursuant to the Precision Dose License Agreement, Elite received $200k at signing, and is receiving milestone payments and a license fee which is based on profits achieved from the commercial sale of the products included in the agreement. Revenue from the $200k payment made upon signing of the Precision Dose Agreement is being recognized over the life of the Precision Dose Agreement. The milestones, totaling $500k (with $405k already received), consist of amounts due upon the first shipment of each identified product, as follows: Phentermine 37.5mg tablets ($145k), Phentermine 15 & 30mg capsules ($45k), Hydromorphone 8mg ($125k), Naltrexone 50mg ($95k) and the balance of $95k due in relation to the first shipment of generic products which still require marketing authorizations from the FDA, and to which there can be no assurances of such marketing authorizations being granted and accordingly there can be no assurances that the Company will earn and receive these milestone amounts. These milestones have been determined to be substantive, with such determination being made by the Company after assessments based on the following: ● The Company's performance is required to achieve each milestone; and ● The milestones will relate to past performance, when achieved; and ● The milestones are reasonable relative to all of the deliverables and payment terms within the Precision Dose License Agreement. The license fees provided for in the Precision Dose Agreement are calculated as a percentage of net sales dollars realized from commercial sales of the related products. Net sales dollars consist of gross invoiced sales less those costs and deductions directly attributable to each invoiced sale, including, without limitation, cost of goods sold, cash discounts, Medicaid rebates, state program rebates, price adjustments, returns, short date adjustments, charge backs, promotions, and marketing costs. The rate applied to the net sales dollars to determine license fees due to the Company is equal to an amount negotiated and agreed to by the parties to the Precision Dose License Agreement, with the following significant factors, inputs, assumptions, and methods, without limitation, being considered by either or both parties: ● Assessment of the opportunity for each generic product in the market, including consideration of the following, without limitation: market size, number of competitors, the current and estimated future regulatory, legislative, and social environment for each generic product, and the maturity of the market; ● Assessment of various avenues for monetizing the generic products, including the various combinations of sites of manufacture and marketing options; ● Capabilities of each party with regards to various factors, including, one or more of the following: manufacturing resources, marketing resources, financial resources, distribution capabilities, ownership structure, personnel, assessment of operational efficiencies and stability, company culture and image; ● Stage of development of each generic product, all of which did not have FDA approval at the time of the discussions/negotiations and an assessment of the risks, probability, and time frame for achieving marketing authorizations from the FDA for the products; ● Assessment of consideration offered by Precision and other entities with whom discussions were conducted; and ● Comparison of the above factors among the various entities with whom the Company was engaged in discussions relating to the commercialization of the generic products. The SunGen Agreement provides for the research, development, sales and marketing of eight generic pharmaceutical products. Two of the products are classified as CNS stimulants (the "CNS Products"), two of the products are classified as beta blockers and the remaining four products consist of antidepressants, antibiotics and antispasmodics. To date, the Company has received approval of ANDA's filed for Amphetamine IR Tablets and Amphetamine ER Capsules, both of which have been commercially launched and are sold pursuant to the Lannett Alliance. The Company has also filed, pursuant to the SunGen Agreement, an ANDA, which is under review by the FDA, for an antibiotic product. On April 3, 2020, the Company and SunGen mutually agreed to discontinue any further joint product development activities. Under the terms of the SunGen Agreement, Elite and SunGen share in the responsibilities and costs in the development of these products and will share substantially in the profits from sales. Upon approval, the know-how and intellectual property rights to the products will be owned jointly by Elite and SunGen. Three of the eight products will be jointly owned, three products will be owned by SunGen, with Elite having exclusive marketing rights and the remaining two products will be owned by Elite, with SunGen having exclusive marketing rights. Elite will manufacture and package all eight products on a cost-plus basis. In May 2020, SunGen, under an asset purchase agreement, assigned its rights and obligations under the Master Development and License Agreement for Amphetamine IR and Amphetamine ER to Mikah Pharmaceuticals. The ANDAs for Amphetamine IR and Amphetamine ER are now registered under Elite's name. Mikah will now be Elite's partner with respect to Amphetamine IR and ER and will assume all the rights and obligations for these products from SunGen. The Glenmark Alliance, provides for the manufacture by Elite and exclusive marketing by Glenmark of Isradipine capsules, Trimipramine capsules and Methadone Tablets, and semi-exclusive marketing rights for Phendimetrazine tablets. All marketing rights relating to Methadone Tablets were terminated by mutual agreement in January 2020 and all marketing rights relating to Phendimetrazine Tablets were terminated by mutual agreement in February 2020. In addition to the purchase prices for the products, Elite will receive license fees well in excess of 50% of gross profits. Gross profit is defined as net sales less the price paid to Elite for the products, distribution fees (less than 10%) and shipping costs. The Agreement has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Glenmark to terminate with regard to a product on at least three months' prior written notice if it determines to stop marketing and selling such product, and it permits Elite to terminate with regard to a product if at any time after the first twelvemonths from the first commercial sale, the average license fee paid by Glenmark for such product is less than $100,000 for a six-month sales period. Pursuant to Lannett-SunGen Product Alliance with Lannett Company Inc. ("Lannett"), Lannett will be the exclusive U.S. marketer and distributor for Amphetamine IR Tablets and Amphetamine ER Capsules. Elite will manufacture and Lannett will purchase the products from Elite and then sell and distribute them. In addition to the purchase prices for the products, Elite will receive license fees in excess of 50% of net profits, which will be shared equally with SunGen, pursuant to the SunGen Agreement. The Lannett-SunGen Product Alliance has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Lannett to terminate with regard to a product on at least six months' prior written notice, and it permits Elite or Lannett to terminate with regard to a product if at any time after the first twelve months from the first commercial sale, the average license fee paid by Lannett for such product is less than $300,000 for a six month sales period. In addition to manufacturing fees and license fees, Lannett also paid a milestone, of $750,000 upon the March 2020 commercial launch of Amphetamine ER Capsules. This milestone payment was shared equally by Elite and SunGen, pursuant to the SunGen Agreement. The first commercial shipment of Amphetamine IR Tablets, a generic version of Adderall ® ® Pursuant to the Lannett-Elite Product Alliance, Lannett is the exclusive U.S. marketer and distributor for Dantrolene Capsules. Elite manufactures and Lannett purchases, markets and distributes this product. In addition to the purchase prices for the products, Elite receives license fees in excess of 50% of net profits. Net profits are defined as net sales less the price paid to Elite for the products, distribution fees (less than 10%) and shipping costs. The Lannett-Elite Product Alliance has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Lannett to terminate with regard to a product on at least six months' prior written notice and it permits Elite or Lannett to terminate with regard to a product if at any time after the first twelve months from the first commercial sale, the average license fee paid by Lannett for such product is less than $300,000 for a six month sales period. The first commercial shipment of Dantrolene Capsules occurred in June 2019.

Related Party Agreements with M

Related Party Agreements with Mikah Pharma LLC	12 Months Ended
	Mar. 31, 2020
Mikah Pharma LLC [Member]
RELATED PARTY AGREEMENTS WITH MIKAH PHARMA LLC	NOTE 20. RELATED PARTY AGREEMENTS WITH MIKAH PHARMA LLC On December 3, 2018, the Company executed a development agreement with Mikah, pursuant to which Mikah and the Company will collaborate to develop and commercialize generic products including formulation development, analytical method development, bioequivalence studies and manufacture of development batches of generic products. The Company received a total of $480,000 from Mikah as an advance payment for the purchase of pharmaceutical materials relating to future product development conducted pursuant to this agreement. This amount was recorded as a deposit and contained within the customer deposits financial statement line item on the consolidated balance sheet. As of the date of this report, the Company has purchased raw materials with an aggregate cost of $542,214 pursuant to this agreement. As of March 31, 2020, the balance due from Mikah was $62,214 and was included in the financial statement line of prepaid expenses and other current assets on the accompanying consolidated balance sheet.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 21. INCOME TAXES The components of the credit for income taxes are as follows: Year Ended March 31, 2020 2019 Federal Current $ - $ - Deferred - - State Current - 3,000 Deferred - - Benefit from sale of state net operating loss credits - 673,016 Net benefit from sale of state net operating loss credits $ - $ 676,016 The major components of deferred tax assets and liabilities at March 31, 2020 and 2019 are as follows (amounts in thousands of dollars): Year Ended March 31, 2020 2019 Federal Net operating loss carry forward $ 21,360 $ 21,005 Valuation allowance (21,360 ) (21,005 ) - - State Net operating loss carry forward 2,258 2,239 Valuation Allowance (2,258 ) (2,239 ) $ - $ - At March 31, 2020 and 2019 a 100% valuation allowance is provided, as it is uncertain if the deferred tax assets will provide any future benefits because of the uncertainty about the Company's ability to generate the future taxable income necessary to use the net operating loss carry forwards. The company believes that temporary timing differences between accrual and payment of income taxes are not material to the financial position of the Company. As of March 31, 2020, Elite has a federal net operating loss carry forward of $21.4 million, which do not expire and net operating loss carry forward in state tax jurisdictions of $2.2 million some of which will begin to expire in 2020.

Other Income - Proceeds From Sa

Other Income - Proceeds From Sale of ANADs	12 Months Ended
	Mar. 31, 2020
Collaborative Agreement with Sungen Pharma LLC [Abstract]
OTHER INCOME - PROCEEDS FROM SALE OF ANDAs	NOTE 22. OTHER INCOME – PROCEEDS FROM SALE OF ANDAs Sale of ANDAs for Oxycodone Hydrochloride and Acetaminophen, USP CII (generic version of Percocet®) In November 2019, approved ANDAs for a generic version of Percocet ® Sale of ANDAs for Hydrocodone bitartrate and acetaminophen tablets USP CII (generic version of Norco) In November 2019, approved ANDAs for a generic version of Norco ® Sale of ANDAs for Methadone hydrochloride tablets (generic version of Dolophine) In February 2020, approved ANDAs for a generic version of Dolophine® (methadone hydrochloride tablets, 5 mg and 10 mg) were sold to Nostrum for cash consideration totaling $300,000. The two related approved ANDA's were developed by Elite, with the costs of such development being charged to expense in the periods incurred, in accordance with generally accepted accounting principles. Sale of ANDA for Hydromorphone HCl tablet (generic version of Dilaudid) In February 2020, the approved ANDA for a generic version of Dilaudid® (hydromorphone hydrochloride tablets, 8mg) were sold to Nostrum for cash consideration totaling $300,000. The carrying value of the asset relating to this ANDA was zero. Sale of ANDAs for Phendimetrazine tartrate tablet (generic version of Bontril) In February 2020, approved ANDAs for a generic version of Bontril PDM® (phendimetrazine tartrate tablet, 35 mg) were sold to Nostrum for cash consideration totaling $300,000. The related approved ANDA's were developed by Elite, with the costs of such development being charged to expense in the periods incurred, in accordance with generally accepted accounting principles.

Covid-19 Update

Covid-19 Update	12 Months Ended
	Mar. 31, 2020
Collaborative Agreement with Sungen Pharma LLC [Abstract]
COVID-19 UPDATE	NOTE 23. COVID-19 UPDATE In December 2019, the Novel Corona Virus, COVID-19 was reported to have emerged in Wuhan, China. In March 2020, the World Health Organization ("WHO") declared the COVID-19 outbreak a global pandemic. Governments at the national, state and local level in the United States, and globally, have implemented aggressive actions to reduce the spread of the virus, with such actions including, without limitation, lockdown and shelter in place orders, limitations on non-essential gatherings of people, suspension of all non-essential travel, and ordering certain businesses and governmental agencies to cease non-essential operations at physical locations. The Company's business is deemed essential and it has continued to operate in all aspects of its pharmaceutical manufacturing, distribution, product development, regulatory compliance and other activities. The Company's management has developed and implemented a range of measures to address the risks, uncertainties, and operational challenges associated with operating in a COVID-19 environment. The Company is closely monitoring the rapidly evolving and changing situation and are implementing plans intended to limit the impact of COVID-19 on our business so that the Company can continue to manufacture those medicines used by end user patients. Actions the Company has taken to date are, without limitation, further described below. Workforce The Company has taken and will continue to take, proactive measures to provide for the well-being of our workforce while continuing to safely produce pharmaceutical products. The Company has implemented alternative working practices, which include, without limitation, modified schedules, shift rotation and work at home abilities for appropriate employees to best ensure adequate social distancing. In addition, the Company increased our already thorough cleaning protocols throughout our facilities and have prohibited visits from non-essential visitors. Certain of these measures have resulted in increased costs. Manufacturing and Supply Chain During the year ended March 31, 2020, and as of the date of this Annual Report on Form 10-K, the Company has not experience material, detrimental issues related to COVID-19 in our manufacturing, supply chain, quality assurance and regulatory compliance activities, and have been able to operate without interruption. The Company has taken, and plan to continue to take, commercially practical measures to keep our facility open. Our supply chains remain intact and operational, and the Company is in regular communications with our suppliers and third-party partners. Please note, however, that a prolonging of the current situation relating to COVID-19 may result in an increased risk of interruption in our supply chain in the future, with no assurances given as the materiality of such future interruption on our business, financial condition, results of operations and cash flows.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 24. SUBSEQUENT EVENTS The Company has evaluated subsequent events from the consolidated balance sheet date through June 29, 2020 (the latest practicable date). The following are material subsequent events: Loan received pursuant to the Payroll Protection Program In April 2020, the Company was approved for, and received a loan with proceeds of $1.01 million under the Paycheck Protection Program ("PPP"). The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"), provides for loans to qualifying businesses, with the amount of the loan being determined by application of a formula defined in the CARES Act that is based, in large part, on payroll expenses incurred by the Company. Amounts received pursuant to the PPP are intended to fund qualifying expenses, as defined in the CARES Act, which include, without limitation, employee payroll, health care benefits, rent and utilities, mortgage payments and interest on other debt obligations incurred prior to February 15, 2020. Under the terms of the PPP, certain amounts received as a loan may be forgiven if they are used for qualifying expenses. The United States Treasury Department published an interim final rule in the Federal Registry on June 1, 2020, with such interim final rule allowing for further comments up to July 1, 2020, to define the terms and conditions under which amounts will qualify for forgiveness. In addition, the Paycheck Program Flexibility Act of 2020 was signed into law by the President of the United States on June 5, 2020, which amends the CARES Act and eases the rules on the use of loan proceeds and forgiveness criteria. Any loan amounts that are not forgiven are required to be repaid over a two-year period, with a deferral period of six months and at an annual interest rate of 1%. Please note that the terms and conditions governing forgiveness and repayment could be amended or revised in the future. The loan received has been recorded as a liability by the Company as of the date received. The Company intends to apply for forgiveness of amounts received under the PPP, in accordance with requirements of the CARES Act, as amended. Any loan amounts forgiven will be removed from liabilities recorded. Please note that there can be no assurances of forgiveness of any or all of the loan amount received pursuant to the PPP and there can also be no assurances as to the terms and conditions of repayment of any loan amounts not forgiven. Sale of New Jersey Net Operating Loss In April 2020, Elite Laboratories Inc., a wholly owned subsidiary of Elite Pharmaceuticals Inc., received final approval from the New Jersey Economic Development Authority for the sale of net tax benefits of $607,635 relating to New Jersey net operating losses and net tax benefits of $338,772, relating to R&D tax credits. The Company sold the net tax benefits approved for sale at a transfer price equal to ninety-two cents for every benefit dollar for total proceeds of $870,695. Shareholder Meeting of June 23, 2020 The Company held a Special Meeting of Shareholders on June 23, 2020. The requisite quorum for the meeting of 50.0% was present. At the meeting, Shareholders voted as follows: Proposal No. 1 To again vote on the amendment of our Articles of Incorporation to increase the number of shares of common stock the Company is authorized to issue from 995,000,000 shares to 1,445,000,000 shares and to file a new amendment to our Articles of Incorporation reflecting such approval. For: 776,095,460 Against: 134,034,571 Abstain: 4,064,230 Proposal No. 2 Granting discretionary authority to adjourn the virtual Special Meeting, if necessary, to solicit additional proxies in the event that there are not sufficient votes at the time of the virtual Special Meeting to approve Proposal No. 1. For: 836,158,065 Against: 70,781,471 Abstain: 7,254,725 Following approval of Proposal No. 1 above, the Company filed an amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada re-adopting the prior amendment increasing the number of shares of common stock that it is authorized to issue from 995,000,000 shares to 1,445,000,000 shares. The par value of the common stock remains $0.001 per share.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying audited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") and in conformity with the instructions on Form 10-K and Rule 8-03 of Regulation S-X and the related rules and regulations of the Securities and Exchange Commission ("SEC"). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Elite Laboratories, Inc. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of such statements.
Segment Information	Segment Information Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC 280"), Segment Reporting The Company has determined that its reportable segments are products whose marketing approvals were secured via an Abbreviated New Drug Applications ("ANDA") and products whose marketing approvals were secured via a New Drug Application ("NDA"). ANDA products are referred to as generic pharmaceuticals and NDA products are referred to as branded pharmaceuticals. There are currently no intersegment revenues. Asset information by operating segment is not presented below since the chief operating decision maker does not review this information by segment. The reporting segments follow the same accounting policies used in the preparation of the Company's audited consolidated financial statements. Please see Note 15 for further details.
Revenue Recognition	Revenue Recognition The Company generates revenue from the development of pain management products, manufacturing of a line of generic pharmaceutical products with approved ANDA, commercialization of products either by license and the collection of royalties, or through the manufacture of formulations and the development of new products and the expansion of licensing agreements with other pharmaceutical companies, including co-development projects, joint ventures and other collaborations. The Company also generates revenue through its focus on the development of various types of drug products, including branded drug products which require NDAs. Under ASC 606, Revenue from Contacts with Customers
Nature of goods and services	Nature of goods and services The following is a description of the Company's goods and services from which the Company generates revenue, as well as the nature, timing of satisfaction of performance obligations, and significant payment terms for each, as applicable: a) Manufacturing Fees The Company is equipped to manufacture controlled-release products on a contract basis for third parties, if and when the products are approved. These products include products using controlled-release drug technology and products utilizing abuse deterrent technologies. The Company also develops and markets (either on its own or by license to other companies) generic and proprietary controlled-release and abuse deterrent pharmaceutical products. The Company recognizes revenue when the customer obtains control of the Company's product based on the contractual shipping terms of the contract. Revenue on product are presented gross because the Company is primarily responsible for fulfilling the promise to provide the product, is responsible to ensure that the product is produced in accordance with the related supply agreement and bears risk of loss while the inventory is in-transit to the commercial partner. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to a customer. b) License Fees The Company enters into licensing and development agreements, which may include multiple revenue generating activities, including milestones payments, licensing fees, product sales and services. The Company analyzes each element of its licensing and development agreements in accordance with ASC 606 to determine appropriate revenue recognition. The terms of the license agreement may include payment to the Company of licensing fees, non-refundable upfront license fees, milestone payments if specified objectives are achieved, and/or royalties on product sales. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. The Company recognizes revenue from non-refundable upfront payments at a point in time, typically upon fulfilling the delivery of the associated intellectual property to the customer. For those milestone payments which are contingent on the occurrence of particular future events (for example, payments due upon a product receiving FDA approval), the Company determined that these need to be considered for inclusion in the calculation of total consideration from the contract as a component of variable consideration using the most-likely amount method. As such, the Company assesses each milestone to determine the probability and substance behind achieving each milestone. Given the inherent uncertainty of the occurrence of future events, the Company will not recognize revenue from the milestone until there is not a high probability of a reversal of revenue, which typically occurs near or upon achievement of the event. Significant management judgment is required to determine the level of effort required under an arrangement and the period over which the Company expects to complete its performance obligations under the arrangement. If the Company cannot reasonably estimate when its performance obligations either are completed or become inconsequential, then revenue recognition is deferred until the Company can reasonably make such estimates. Revenue is then recognized over the remaining estimated period of performance using the cumulative catch-up method. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in ASC 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company's contracts contained a significant financing component as of March 31, 2020. In accordance with ASC 606-10-55-65, royalties are recognized when the subsequent sale of the customer's products occurs.
Disaggregation of revenue	Disaggregation of revenue In the following table, revenue is disaggregated by type of revenue generated by the Company and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the reportable segments: For the Year Ended March 31, 2020 2019 NDA: Licensing fees $ 1,000,000 $ 1,000,000 Total NDA revenue 1,000,000 1,000,000 ANDA: Manufacturing fees $ 14,526,048 $ 5,387,696 Licensing fees 2,468,591 1,180,812 Total ANDA revenue 16,994,639 6,568,508 Total revenue $ 17,994,639 $ 7,568,508
Collaborative Arrangements	Collaborative Arrangements Contracts are considered to be collaborative arrangements when they satisfy the following criteria defined in ASC 808, Collaborative Arrangements ● The parties to the contract must actively participate in the joint operating activity; and, ● The joint operating activity must expose the parties to the possibility of significant risk and rewards, based on whether or not the activity is successful. The Company entered into a sales and distribution licensing agreement with Epic Pharma LLC, ("Epic") dated June 4, 2015 (the "2015 Epic License Agreement"), which has been determined to satisfy the criteria for consideration as a collaborative agreement, and is accounted for accordingly, in accordance with GAAP. The 2015 Epic License Agreement expired on June 4, 2020 without renewal. The Company entered into a Master Development and License Agreement with SunGen Pharma LLC dated August 24, 2016 (the "SunGen Agreement"), which has been determined to satisfy the criteria for consideration as a collaborative agreement, and is accounted for accordingly, in accordance with GAAP. On April 3, 2020, Elite and SunGen mutually agreed to discontinue any further joint product development activities.
Cash	Cash The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of cash on deposit with banks and money market instruments. The Company places its cash and cash equivalents with high-quality, U.S. financial institutions and, to date has not experienced losses on any of its balances.
Restricted Cash	Restricted Cash As of March 31, 2020, and March 31, 2019, the Company had $404,802 and $398,125 of restricted cash, respectively, related to debt service reserve in regard to the New Jersey Economic Development Authority ("NJEDA") bonds (see Note 5).
Accounts Receivable	Accounts Receivable Accounts receivable are comprised of balances due from customers, net of estimated allowances for uncollectible accounts. In determining collectability, historical trends are evaluated, and specific customer issues are reviewed on a periodic basis to arrive at appropriate allowances.
Inventory	Inventory Inventory is recorded at the lower of cost or market on specific identification by lot number basis.
Long-Lived Assets	Long-Lived Assets The Company periodically evaluates the fair value of long-lived assets, which include property and equipment and intangibles, whenever events or changes in circumstances indicate that its carrying amounts may not be recoverable. Property and equipment are stated at cost. Depreciation is provided on the straight-line method based on the estimated useful lives of the respective assets which range from three to forty years. Major repairs or improvements are capitalized. Minor replacements and maintenance and repairs which do not improve or extend asset lives are expensed currently. Upon retirement or other disposition of assets, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in income.
Intangible Assets	Intangible Assets The Company capitalizes certain costs to acquire intangible assets; if such assets are determined to have a finite useful life they are amortized on a straight-line basis over the estimated useful life. Costs to acquire indefinite lived intangible assets, such as costs related to ANDAs are capitalized accordingly. The Company tests its intangible assets for impairment at least annually (as of March 31st) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others and without limitation: a significant decline in the Company's expected future cash flows; a sustained, significant decline in the Company's stock price and market capitalization; a significant adverse change in legal factors or in the business climate of the Company's segments; unanticipated competition; and slower growth rates. As of March 31, 2020, the Company did not identify any indicators of impairment. Please also see Note 4 for further details on intangible assets.
Research and Development	Research and Development Research and development expenditures are charged to expense as incurred.
Contingencies	Research and Development Research and development expenditures are charged to expense as incurred.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. Where applicable, the Company records a valuation allowance to reduce any deferred tax assets that it determines will not be realizable in the future. The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. The Company operates in multiple tax jurisdictions within the United States of America. The Company remains subject to examination in all tax jurisdiction until the applicable statutes of limitation expire. As of March 31, 2020, a summary of the tax years that remain subject to examination in our major tax jurisdictions are: United States – Federal, 2015 and forward, and State, 2011 and forward. The Company did not record unrecognized tax positions for the years ended March 31, 2020 and 2019.
Warrants and Preferred Shares	Warrants and Preferred Shares The accounting treatment of warrants and preferred share series issued is determined pursuant to the guidance provided by ASC 470, Debt Distinguishing Liabilities from Equity Derivatives and Hedging
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation-Stock Compensation In accordance with the Company's Director compensation policy and certain employment contracts, director's fees and a portion of employee's salaries are to be paid via the issuance of shares of the Company's common stock, in lieu of cash, with the valuation of such share being calculated on a quarterly basis and equal to the average closing price of the Company's common stock.
Earnings (Loss) Per Share Attributable to Common Shareholders'	Earnings (Loss) Per Share Attributable to Common Shareholders' The Company follows ASC 260, Earnings Per Share The following is the computation of loss per share applicable to common shareholders for the periods indicated: Years Ended March 31, 2020 2019 Numerator Net loss attributable to common shareholders – basic $ (2,240,351 ) $ (9,279,320 ) Effect of dilutive instrument on net loss 1,111,548 (180,042 ) Net loss attributable to common shareholders - diluted $ (1,128,803 ) $ (9,459,362 ) Denominator Weighted average shares of common stock outstanding - basic 832,326,965 814,172,891 Dilutive effect of stock options, warrants and convertible securities 160,933,988 2,140,101 Weighted average shares of common stock outstanding – diluted 993,260,953 816,312,992 Net loss per share attributable to common shareholders Basic $ (0.00 ) $ (0.01 ) Diluted $ (0.00 ) $ (0.01 )
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 820, Fair Value Measurements and Disclosures ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. ● Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means. ● Level 3 – Inputs that are unobservable for the asset or liability. Measured on a Recurring Basis The following table presents information about our liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fell: Fair Value Measurement Using Amount at Level 1 Level 2 Level 3 March 31 2020 Liabilities Derivative financial instruments – warrants $ 3,599,378 $ - $ - $ 3,599,378 March 31, 2019 Liabilities Derivative financial instruments – warrants $ 2,487,830 $ - $ - $ 2,487,830 See Note 11, for specific inputs used in determining fair value. The carrying amounts of the Company's financial assets and liabilities, such as cash, accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses, approximate their fair values because of the short maturity of these instruments. Based upon current borrowing rates with similar maturities the carrying value of long-term debt approximates fair value. Non-Financial Assets that are Measured at Fair Value on a Non-Recurring Basis Non-financial assets such as intangible assets, and property and equipment are measured at fair value only when an impairment loss is recognized. The Company did not record an impairment charge related to these assets in the periods presented.
Treasury Stock	Treasury Stock The Company records treasury stock at the cost to acquire it and includes treasury stock as a component of shareholders' deficit.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements The Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases (ASC 842) On April 1, 2019, the Company adopted ASC 842 using the modified retrospective basis with a cumulative-effect adjustment at the beginning of the period of adoption and therefore did not revise prior period information or disclosure. Further, the Company elected the package of practical expedients upon transition that allows the Company not to reassess the lease classification for expired and existing leases, whether initial direct costs qualify for capitalization for any expired or existing leases or whether any expired contracts are or contain leases. The adoption of ASU 2016-02 resulted in the recognition of operating leases and lease liabilities of approximately $0.6 million on the consolidated balance sheet as of April 1, 2019. The operating leases and lease liabilities relate to a real estate lease. The impact of the adoption of ASC 842 on the accompanying consolidated balance sheet as of April 1, 2019 was as follows: March 31, Adoption April 1, 2019 Operating lease - right of use $ - $ 554,088 $ 554,088 Deferred rent liability $ 13,022 $ (13,022 ) $ - Lease obligation - operating lease $ - $ 191,817 $ 191,817 Lease obligation - operating lease, net of current portion $ - $ 375,293 $ 375,293 See additional lease disclosures in Note 9.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (ASC 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (ASC 808), Clarifying the Interaction between ASC 808 and ASC 606 In March 2020, the FASB issued ASU No. 2020-03, Codification Improvements to Financial Instruments Financial Instruments - Credit Losses (ASC 326) Leases (ASC 842) Transfers and Servicing-Sales of Financial Assets (ASC 860-20) In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Management has evaluated other recently issued accounting pronouncements and does not believe that any of these pronouncements will have a significant impact on our consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of disaggregation of revenue	For the Year Ended March 31, 2020 2019 NDA: Licensing fees $ 1,000,000 $ 1,000,000 Total NDA revenue 1,000,000 1,000,000 ANDA: Manufacturing fees $ 14,526,048 $ 5,387,696 Licensing fees 2,468,591 1,180,812 Total ANDA revenue 16,994,639 6,568,508 Total revenue $ 17,994,639 $ 7,568,508
Schedule of earnings (loss) per share applicable to common shareholders	Years Ended March 31, 2020 2019 Numerator Net loss attributable to common shareholders – basic $ (2,240,351 ) $ (9,279,320 ) Effect of dilutive instrument on net loss 1,111,548 (180,042 ) Net loss attributable to common shareholders - diluted $ (1,128,803 ) $ (9,459,362 ) Denominator Weighted average shares of common stock outstanding - basic 832,326,965 814,172,891 Dilutive effect of stock options, warrants and convertible securities 160,933,988 2,140,101 Weighted average shares of common stock outstanding – diluted 993,260,953 816,312,992 Net loss per share attributable to common shareholders Basic $ (0.00 ) $ (0.01 ) Diluted $ (0.00 ) $ (0.01 )
Schedule of liabilities measured at fair value on a recurring basis	Fair Value Measurement Using Amount at Level 1 Level 2 Level 3 March 31 2020 Liabilities Derivative financial instruments – warrants $ 3,599,378 $ - $ - $ 3,599,378 March 31, 2019 Liabilities Derivative financial instruments – warrants $ 2,487,830 $ - $ - $ 2,487,830
Schedule of condensed consolidated balance sheet	March 31, Adoption April 1, 2019 Operating lease - right of use $ - $ 554,088 $ 554,088 Deferred rent liability $ 13,022 $ (13,022 ) $ - Lease obligation - operating lease $ - $ 191,817 $ 191,817 Lease obligation - operating lease, net of current portion $ - $ 375,293 $ 375,293

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of inventory	March 31, March 31, Finished goods $ 138,981 $ 575,699 Work-in-progress 677,824 189,069 Raw materials 3,325,667 3,750,955 4,142,472 4,515,723 Less: Inventory reserve - - $ 4,142,472 $ 4,515,723

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	March 31, March 31, Land, building and improvements $ 5,260,524 $ 5,260,523 Laboratory, manufacturing, warehouse and transportation equipment 12,167,754 12,078,340 Office equipment and software 373,601 373,601 Furniture and fixtures 383,103 383,103 18,184,982 18,095,567 Less: Accumulated depreciation (10,957,334 ) (9,651,718 ) $ 7,227,648 $ 8,443,849

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	March 31, 2020 Estimated Gross Useful Carrying Accumulated Net Book Life Amount Additions Reductions Amortization Value Patent application costs * $ 465,684 $ - $ - $ - $ 465,684 ANDA acquisition costs Indefinite 6,168,351 - - - 6,168,351 $ 6,634,035 $ - $ - $ - $ 6,634,035 March 31, 2019 Estimated Gross Useful Carrying Accumulated Net Book Life Amount Additions Reductions Amortization Value Patent application costs * $ 465,684 $ - $ - $ - $ 465,684 ANDA acquisition costs Indefinite 7,247,317 - (1,078,966 ) - 6,168,351 $ 7,713,001 $ - $ (1,078,966 ) $ - $ 6,634,035 * Patent application costs were incurred in relation to the Company’s abuse deterrent opioid technology. Amortization of the patent costs will begin upon the issuance of marketing authorization by the FDA. Amortization will then be calculated on a straight-line basis through the expiry of the related patent(s).

NJEDA Bonds (Tables)

NJEDA Bonds (Tables)	12 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of bonds payable liability	March 31, March 31, Gross bonds payable NJEDA Bonds - Series A Notes $ 1,575,000 $ 1,670,000 Less: Current portion of bonds payable (prior to deduction of bond offering costs) (105,000 ) (95,000 ) Long-term portion of bonds payable (prior to deduction of bond offering costs) $ 1,470,000 $ 1,575,000 Bond offering costs $ 354,454 $ 354,453 Less: Accumulated amortization (206,765 ) (192,591 ) Bond offering costs, net $ 147,689 $ 161,862 Current portion of bonds payable - net of bond offering costs Current portions of bonds payable $ 105,000 $ 95,000 Less: Bonds offering costs to be amortized in the next 12 months (14,178 ) (14,178 ) Current portion of bonds payable, net of bond offering costs $ 90,822 $ 80,822 Long term portion of bonds payable - net of bond offering costs Long term portion of bonds payable $ 1,470,000 $ 1,575,000 Less: Bond offering costs to be amortized subsequent to the next 12 months (133,511 ) (147,685 ) Long term portion of bonds payable, net of bond offering costs $ 1,336,489 $ 1,427,315
Schedule of maturities of bonds for the next five years	Years ending March 31, Amount 2021 $ 105,000 2022 110,000 2023 115,000 2024 125,000 2025 130,000 Thereafter 990,000 $ 1,575,000

Loans Payable (Tables)

Loans Payable (Tables)	12 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of loans payable	March 31, March 31, Equipment and insurance financing loans payable, between 3.5% and 12.73% interest and maturing between March 2020 and July 2024 $ 1,025,452 $ 1,272,298 Less: Current portion of loans payable (561,550 ) (573,029 ) Long-term portion of loans payable $ 463,902 $ 699,269
Schedule of loan principal payments	Years ending March 31, Amount 2021 $ 561,550 2022 249,316 2023 169,444 2024 45,142 $ 1,025,452

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of lease assets and liabilities	Lease Classification As of Assets Operating Operating lease – right-of-use asset $ 363,282 Total leased assets $ 363,282 Liabilities Current Operating Lease obligation – operating lease $ 208,184 Long-term Operating Lease obligation – operating lease, net of current portion 167,109 Total lease liabilities $ 375,293
Schedule of the future minimum rental payments	Years ending March 31, Amount 2021 $ 225,063 2022 171,315 Total future minimum lease payments 396,378 Less: interest (21,085 ) Present value of lease payments $ 375,293
Schedule of weighted-average remaining lease term and the weighted-average discount rate	Lease Term and Discount Rate March 31, Remaining lease term (years) Operating leases 1.8 Discount rate Operating leases 6 %

Preferred Stock (Tables)

Preferred Stock (Tables)	12 Months Ended
	Mar. 31, 2020
Schedule of key assumptions used in the monte carlo simulation	April 28, Fair value of the Company’s common stock $ 0.1521 Initial exercise price $ 0.1521 Number of Series J Preferred issued 24.0344 Fully diluted shares outstanding as of measurement date 923,392,780 Risk-free rate 2.30 % Volatility 90.00 % Shareholder approval threshold $ 0.1521 Probability of approval is ending stock price is greater than threshold - midpoint 82.50 % Probability of approval is ending stock price is greater than threshold - midpoint 17.50 % Trials 200,000
Series J Convertible preferred stock [Member]
Schedule of authorized, issued and outstanding shares, along with carrying value and change in value	March 31, March 31, Shares authorized 50.000 50.000 Shares outstanding 24.0344 24.0344 Par value $ 0.01 $ 0.01 Stated value $ 1,000,000 $ 1,000,000 Conversion price $ 0.1521 $ 0.1521 Common Stock to be issued upon conversion 158,017,321 158,017,321 Carrying value of Series J convertible preferred stock $ 13,903,960 $ 13,903,960

Derivative Financial Instrume_2

Derivative Financial Instruments - Warrants (Tables)	12 Months Ended
	Mar. 31, 2020
Derivative Liabilities Warrants Disclosure [Abstract]
Schedule of warrant activity	March 31 2020 March 31, 2019 Warrant Weighted Warrant Weighted Balance at beginning of period 79,008,661 $ 0.1521 79,008,661 $ 0.1521 Warrants granted pursuant to the issuance of Series J convertible preferred shares - - - - Warrants exercised, forfeited and/or expired, net - - - - Balance at end of period 79,008,661 $ 0.1521 79,008,661 $ 0.1521
Schedule of key assumptions used in the monte carlo simulation	March 31, Fair value of the Company's Common Stock $ 0.9900 Initial exercise price $ 0.1521 Number of common warrants 79,008,661 Fully diluted shares outstanding as of measurement date 824,946,559 Warrant term (in years) 8.08 Risk-free rate 2.35 % Volatility 90.00 % Shareholder approval threshold $ 0.1580 Probability of approval if ending stock price is greater than threshold - midpoint 82.50 % Probability of approval if ending stock price is greater than threshold - midpoint 17.50 % Trials 100,000 Fair value of derivative financial instruments - warrants $ 2,487,830
Schedule of the fair value of the warrants issued	March 31, Fair value of the Company’s common stock $ 0.0720 Volatility 83.81 % Initial exercise price $ 0.1521 Warrant term (in years) 7.1 Risk free rate 0.55 %
Schedule of changes in warrants measured at fair value on a recurring basis	Balance as of March 31, 2018 $ 2,667,871 Change in fair value of derivative financial instruments - warrants (180,041 ) Balance as of March 31, 2019 2,487,830 Change in fair value of derivative financial instruments - warrants 1,111,548 Balance as of March 31, 2020 $ 3,599,378

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Summary of Common Stock Activity	Years Ended March 31, 2020 2019 Common Stock sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $1,437,979 and $2,063,541 for the years ended March 31, 2020 and 2019, respectively. 15,358,627 22,033,967 Common Stock issued as initial and additional commitment shares pursuant to the Lincoln Park Capital Purchase Agreements 199,181 285,831 Common Stock Issued during the fiscal year 15,557,808 22,319,798 Retirement of Common Stock during the fiscal year --- --- Common Stock issued as of March 31, 2020 and 2019, respectively 840,504,367 824,946,559

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock option plan	Weighted Shares Weighted Remaining Aggregate Options Price (in years) Value Outstanding at March 31, 2018 6,618,000 $ 0.16 6.1 $ 90,390 Granted - Forfeited and expired (460,000 ) Exercised - Outstanding at March 31, 2019 6,158,000 $ 0.15 5.0 $ 87,330 Granted 115,000 $ 0.10 9.5 Forfeited and expired (898,000 ) Exercised - Outstanding at March 31, 2020 5,375,000 $ 0.14 4.1 $ 6,000 Exercisable at March 31, 2020 4,953,334 $ 0.14 4.1 $ 6,000

Segment Results (Tables)

Segment Results (Tables)	12 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of selected information for reportable segments	Years Ended March 31, 2020 2019 Revenue by Segment ANDA $ 16,994,639 $ 6,568,508 NDA 1,000,000 1,000,000 $ 17,994,639 $ 7,568,508 Years Ended March 31, 2020 2019 Operating Income (Loss) by Segment ANDA $ 3,579,047 $ (4,361,649 ) NDA 580,414 122,961 $ 4,159,461 $ (4,238,688 )
Schedule of operating loss by segment to (loss) income from operations	Years Ended March 31, 2020 2019 Operating income (loss) by segment $ 4,159,461 $ (4,238,688 ) Corporate unallocated costs (2,721,103 ) (2,683,720 ) Interest income 11,980 8,448 Interest expense and amortization of debt issuance costs (355,874 ) (369,174 ) Depreciation and amortization expense (1,319,795 ) (1,206,495 ) Significant non-cash items (901,472 ) (1,645,750 ) Change in fair value of derivative instruments (1,111,548 ) 180,042 Loss from operations before income tax $ (2,238,351 ) $ (9,955,337 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of components of credit for income taxes	Year Ended March 31, 2020 2019 Federal Current $ - $ - Deferred - - State Current - 3,000 Deferred - - Benefit from sale of state net operating loss credits - 673,016 Net benefit from sale of state net operating loss credits $ - $ 676,016
Schedule of components of deferred tax assets and liabilities	Year Ended March 31, 2020 2019 Federal Net operating loss carry forward $ 21,360 $ 21,005 Valuation allowance (21,360 ) (21,005 ) - - State Net operating loss carry forward 2,258 2,239 Valuation Allowance (2,258 ) (2,239 ) $ - $ -

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Mar. 31, 2020
Subsequent Events
Schedule of shareholder meeting proposal	For: 776,095,460 Against: 134,034,571 Abstain: 4,064,230 For: 836,158,065 Against: 70,781,471 Abstain: 7,254,725

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues	$ 17,994,639	$ 7,568,508
NDA [Member]
Revenues	1,000,000	1,000,000
NDA [Member] | Licensing fees [Member]
Revenues	1,000,000	1,000,000
ANDA [Member]
Revenues	16,994,639	6,568,508
ANDA [Member] | Licensing fees [Member]
Revenues	2,468,591	1,180,812
ANDA [Member] | Manufacturing fees [Member]
Revenues	$ 14,526,048	$ 5,387,696

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator
Net loss attributable to common shareholders - basic	$ (2,240,351)	$ (9,279,320)
Effect of dilutive instrument on net loss	1,111,548	(180,042)
Net loss attributable to common shareholders - diluted	$ (1,128,803)	$ (9,459,362)
Denominator
Weighted average shares of common stock outstanding - basic	832,326,965	814,172,891
Dilutive effect of stock options, warrants and convertible securities	160,933,988	2,140,101
Weighted average shares of common stock outstanding - diluted	993,260,953	816,312,992
Net loss per share attributable to common shareholders
Basic	$ 0	$ (0.01)
Diluted	$ 0	$ (0.01)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Derivative financial instruments - warrants	$ 3,599,378	$ 2,487,830
Level 1 [Member]
Derivative financial instruments - warrants
Level 2 [Member]
Derivative financial instruments - warrants
Level 3 [Member]
Derivative financial instruments - warrants	$ 3,599,378	$ 2,487,830

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 3) - USD ($)	Apr. 03, 2019	Apr. 02, 2019	Mar. 31, 2019
Operating lease - right of use		$ 554,088
Deferred rent liability			13,022
Lease obligation - operating lease		191,817
Lease obligation - operating lease, net of current portion		$ 375,293
Adoption Adjustment [Member]
Operating lease - right of use	$ 554,088
Deferred rent liability	(13,022)
Lease obligation - operating lease	191,817
Lease obligation - operating lease, net of current portion	$ 375,293

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Apr. 02, 2019	Mar. 31, 2019
Summary of Significant Accounting Policies (Textual)
Restricted cash	$ 404,802		$ 398,125
Tax benefits, description	The Company recognizes the benefit of an uncertain tax position that it has taken or expects to take on income tax returns it files if such tax position is more likely than not to be sustained on examination by the taxing authorities, based on the technical merits of the position. These tax benefits are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution.
Operating leases and lease liabilities	$ 375,293	$ 600,000

Inventory (Details)

Inventory (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 138,981	$ 575,699
Work-in-progress	677,824	189,069
Raw materials	3,325,667	3,750,955
Inventory, gross	4,142,472	4,515,723
Less: Inventory reserve
Inventory, net	$ 4,142,472	$ 4,515,723

Property and Equipment, Net (De

Property and Equipment, Net (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 18,184,982	$ 18,095,567
Less: Accumulated depreciation	(10,957,334)	(9,651,718)
Property and equipment, net	7,227,648	8,443,849
Land, building and improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,260,524	5,260,523
Laboratory, manufacturing, warehouse and transportation equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,167,754	12,078,340
Office equipment and software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	373,601	373,601
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 383,103	$ 383,103

Property and Equipment, Net (_2

Property and Equipment, Net (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property and Equipment, Net (Textual)
Depreciation expense	$ 1,305,616	$ 1,242,739

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)		12 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 6,634,035	$ 7,713,001
Additions
Reductions			(1,078,966)
Accumulated Amortization		0	0
Net Book Value		$ 6,634,035	$ 6,634,035
Patent application costs [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	[1]	0 Years	0 Years
Gross Carrying Amount		$ 465,684	$ 465,684
Additions
Reductions
Accumulated Amortization
Net Book Value		$ 465,684	$ 465,684
ANDA acquisition costs [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	[1]	Indefinite	Indefinite
Gross Carrying Amount		$ 6,168,351	$ 7,247,317
Additions
Reductions			(1,078,966)
Accumulated Amortization
Net Book Value		$ 6,168,351	$ 6,168,351
[1]	Patent application costs were incurred in relation to the Company's abuse deterrent opioid technology. Amortization of the patent costs will begin upon the issuance of marketing authorization by the FDA. Amortization will then be calculated on a straight-line basis through the expiry of the related patent(s).

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Intangible Assets (Textual)
Aggregate carrying amount discontinued		$ 291,491
Aggregate carrying amount transferred to Epic Pharma	$ 1,502,500	787,475
Cash consideration		450,000
Additional annual fees in excess		1,100,000
Realized loss on transfer/discontinuance of intangible assets	1,502,500	628,966
Abbreviated New Drug Applications [Member]
Intangible Assets (Textual)
Aggregate carrying amount discontinued	$ 0	1,078,966
Aggregate carrying amount transferred to Epic Pharma		$ 450,000

NJEDA Bonds (Details)

NJEDA Bonds (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Njeda Bonds [Line Items]
Less: Current portion of bonds payable (prior to deduction of bond offering costs)	$ (90,822)	$ (80,822)
Long-term portion of bonds payable (prior to deduction of bond offering costs)	1,336,489	1,427,315
NJEDA Bonds Current [Member]
Njeda Bonds [Line Items]
Bonds payable	(105,000)	(95,000)
Less: Bond offering costs to be amortized	(14,178)	(14,178)
Bonds payable, net of bond offering costs	90,822	80,822
NJEDA Bonds Non-Current [Member]
Njeda Bonds [Line Items]
Bonds payable	(1,470,000)	(1,575,000)
Less: Bond offering costs to be amortized	(137,055)	(147,685)
Bonds payable, net of bond offering costs	1,336,489	1,427,315
NJEDA Bonds Series A Notes [Member]
Njeda Bonds [Line Items]
NJEDA Bonds - Series A Notes	1,575,000	1,670,000
Less: Current portion of bonds payable (prior to deduction of bond offering costs)	(105,000)	(95,000)
Long-term portion of bonds payable (prior to deduction of bond offering costs)	1,470,000	1,575,000
Bond offering costs	354,454	354,453
Less: Accumulated amortization	206,765	(192,591)
Bond offering costs, net	$ 147,689	$ 161,862

NJEDA Bonds (Details 1)

NJEDA Bonds (Details 1)	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 105,000
2022	110,000
2023	115,000
2024	125,000
2025	130,000
Thereafter	990,000
Total	$ 1,575,000

NJEDA Bonds (Details Textual)

NJEDA Bonds (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
NJEDA Bonds [Member]
NJEDA Bonds (Textual)
Amortization expense	$ 14,174	$ 14,172
Series Note [Member]
NJEDA Bonds (Textual)
Annual interest rate	6.50%

Loans Payable (Details)

Loans Payable (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Debt Disclosure [Abstract]
Equipment and insurance financing loanspayable, between 3.5% and 12.73% interest and maturing between March 2020 and July 2024	$ 1,025,452	$ 1,272,298
Less: Current portion of loans payable	(561,550)	(573,029)
Long-term portion of loans payable	$ 463,902	$ 699,269

Loans Payable (Details 1)

Loans Payable (Details 1) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Debt Disclosure [Abstract]
2021	$ 561,550
2022	249,316
2023	169,444
2024	45,142
Total loans payable	$ 1,025,452	$ 1,272,298

Loans Payable (Details Textual)

Loans Payable (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Loans Payable (Textual)
Interest expense	$ 79,870	$ 114,980
Maximum [Member]
Loans Payable (Textual)
Debt instrument, interest rate, stated percentage	12.73%
Maturity date	Jul. 31, 2024
Minimum [Member]
Loans Payable (Textual)
Debt instrument, interest rate, stated percentage	3.50%
Maturity date	Mar. 31, 2020

Related Party Secured Promiss_2

Related Party Secured Promissory Note with Mikah Pharma LLC (Details) - USD ($)	May 15, 2017	Mar. 31, 2020	Mar. 31, 2019
Interest expense, total		$ 355,874	$ 369,173
Secured Promissory Note [Member]
Interest rate percentage	15.00%
Principal amount	$ 1,200,000
Maturity date	Dec. 31, 2020
Interest rate	10.00%
Interest expense, total		120,000	120,000
Accrued interest		$ 345,000	$ 225,000

Deferred Revenue (Details)

Deferred Revenue (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Deferred Revenue (Textual)
Deferred revenues	$ 238,891	$ 1,252,223
Deferred revenues current component	180,000	1,013,333
Deferred revenues long-term component	$ 58,891	$ 238,890
Licensing Agreements [Member]
Deferred Revenue (Textual)
Deferred revenues term, description	Straight-line basis.
TAGI licensing agreement [Member]
Deferred Revenue (Textual)
Deferred revenues term, description	Fifteen-year term beginning in September 2010 and ending in August 2025
Advance payment of deferred revenue	$ 200,000
Epic Collaborative Agreement [Member]
Deferred Revenue (Textual)
Deferred revenues term, description	Five-year term beginning in June 2015 and ending in May 2020.
Advance payment of deferred revenue	$ 5,000,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2020	Apr. 02, 2019	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating lease – right-of-use asset	$ 363,282
Total leased assets	363,282
Lease obligation - operating lease	208,184
Lease obligation - operating lease, net of current portion	167,109
Total lease liabilities	$ 375,293	$ 600,000

Commitments and Contingencies_3

Commitments and Contingencies (Details 1) - USD ($)	Mar. 31, 2020	Apr. 02, 2019
Years ending March 31,
2021	$ 225,063
2022	171,315
Total future minimum lease payments	396,378
Less: interest	(21,085)
Present value of lease payments	$ 375,293	$ 600,000

Commitments and Contingencies_4

Commitments and Contingencies (Details 2)	Mar. 31, 2020
Lease Term and Discount Rate
Remaining lease term (years) Operating leases	1 year 9 months 18 days
Discount rate operating leases	6.00%

Commitments and Contingencies_5

Commitments and Contingencies (Details Textual)	12 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Jul. 31, 2014a	Jul. 01, 2010a
Commitments and Contingencies (Textual)
Operating lease, terms	Lease includes an initial term, which expired on December 31, 2016 with two tenant renewal options of five years each, at the sole discretion of the Company. On June 22, 2016, the Company exercised the first of these renewal options, with such option including a term that begins on January 1, 2017 and expires on December 31, 2021.
General and Administrative Expense [Member]
Commitments and Contingencies (Textual)
Rent expense | $	$ 220,650	$ 219,638
Other Noncurrent Liabilities [Member]
Commitments and Contingencies (Textual)
Other long-term liabilities | $	$ 35,442	$ 46,402
Property Subject to Operating Lease [Member] | Warehouse [Member]
Commitments and Contingencies (Textual)
Building floor space | a				15,000
July 2014 Modification Agreement [Member] | Property Subject to Operating Lease [Member] | Warehouse [Member]
Commitments and Contingencies (Textual)
Building floor space | a			35,000

Preferred Stock (Details)

Preferred Stock (Details) - Series J Convertible preferred stock [Member]	1 Months Ended
	Apr. 28, 2017$ / sharesshares
Fair value of the Company's common Stock | $ / shares	$ 0.1521
Initial exercise price | $ / shares	$ 0.1521
Number of Series J Preferred issued | shares	24.0344
Fully diluted shares outstanding as of measurement date | shares	923,392,780
Shareholder approval threshold | $ / shares	$ 0.1521
Trials | shares	200,000
Risk-free rate [Member]
Fair value assumptions percentage	2.30%
Volatility [Member]
Fair value assumptions percentage	90.00%
Probability of approval is ending stock price is greater than threshold - midpoint [Member] | Maximum [Member]
Fair value inputs probability percentage	82.50%
Probability of approval is ending stock price is greater than threshold - midpoint [Member] | Minimum [Member]
Fair value inputs probability percentage	17.50%

Preferred Stock (Details 1)

Preferred Stock (Details 1) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Shares authorized	50	50
Shares outstanding	24.0344	24.0344
Par value	$ 0.01	$ 0.01
Stated value	$ 1,000,000	$ 1,000,000
Conversion price	$ 0.1521	$ 0.1521
Common shares to be issued upon redemption	158,017,321	158,017,321
Carrying value of Series J convertible preferred stock		$ 13,903,960

Preferred Stock (Details Textua

Preferred Stock (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Dec. 04, 2019	Mar. 31, 2019	Apr. 28, 2017
Mezzanine Equity (Textual)
Preferred stock share authorized	50		50
Preferred stock shares issued	24.0344		24.0344
Preferred stock shares outstanding	24.0344		24.0344
Convertible preferred stock par value per share	$ 0.01		$ 0.01
Convertible preferred stock stated value	$ 1,000,000		$ 1,000,000
Preferred stock par value	$ 0.01		$ 0.01
Carrying value of Series J convertible preferred stock	$ 13,903,960
Increased number of common stock shares authorized	1,445,000,000		995,000,000
Maximum [Member]
Mezzanine Equity (Textual)
Increased number of common stock shares authorized		1,445,000,000
Minimum [Member]
Mezzanine Equity (Textual)
Increased number of common stock shares authorized		995,000,000
Series J Convertible preferred stock [Member]
Mezzanine Equity (Textual)
Convertible preferred stock par value per share	$ 0.01
Convertible preferred stock stated value	$ 1,000,000
Preferred stock conversion price per share	$ 0.1521
Shares of common stock	158,017,321
Percentage of dividend rate	20.00%
Fair value measured				$ 13,903,960
Series J Convertible preferred stock [Member] | Nasrat Hakim [Member]
Mezzanine Equity (Textual)
Warrants to purchase	79,008,661			79,008,661
Shares of common stock per share	$ 0.1521			$ 0.1521

Derivative Financial Instrume_3

Derivative Financial Instruments - Warrants (Details) - $ / shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Liabilities Warrants Disclosure [Abstract]
Warrant Shares, Balance at beginning of period	79,008,661	79,008,661
Warrant Shares, Warrants granted pursuant to the issuance of Series J convertible preferred shares
Warrant Shares, Warrants exercised, forfeited and/or expired, net
Warrant Shares, Balance at end of period	79,008,661	79,008,661
Weighted Average Exercise Price, Balance at beginning of period	$ 0.1521	$ 0.1521
Weighted Average Exercise Price, Warrants granted pursuant to the issuance of Series J convertible preferred shares
Weighted Average Exercise Price, Warrants exercised, forfeited and/or expired, net
Weighted Average Exercise Price, Balance at end of period	$ 0.1521	$ 0.1521

Derivative Financial Instrume_4

Derivative Financial Instruments - Warrants (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Risk-free rate	0.55%
Volatility	83.81%
Warrant [Member]
Fair value of the company's common stock		$ 0.9900
Initial exercise price		$ 0.1521
Number of common warrants		79,008,661
Fully diluted shares outstanding as of measurement date		824,946,559
Warrant term (in years)		8 years 29 days
Risk-free rate		2.35%
Volatility		90.00%
Shareholder approval threshold		$ 0.1580
Trials		100,000
Fair value of derivative financial instruments - warrants		$ 2,487,830
Warrant [Member] | Maximum [Member]
Probability of approval if ending stock price is greater than threshold - midpoint		82.50%
Warrant [Member] | Minimum [Member]
Probability of approval if ending stock price is greater than threshold - midpoint		17.50%

Derivative Financial Instrume_5

Derivative Financial Instruments - Warrants (Details 2) - $ / shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Volatility (based on the Company's historical volatility)	83.81%
Estimated life (in years)	7 years 1 month 6 days
Risk free interest rate (based on 1-year treasury rate)	0.55%
Warrant [Member]
Fair value of the Company's common stock	$ 0.0720
Volatility (based on the Company's historical volatility)		90.00%
Initial exercise price	$ 0.1521
Risk free interest rate (based on 1-year treasury rate)		2.35%

Derivative Financial Instrume_6

Derivative Financial Instruments - Warrants (Details 3) - Level 3 [Member] - Warrants [Member] - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Balance as of March 31, 2018	$ 2,487,830	$ 2,667,871
Change in fair value of derivative financial instruments - warrants	1,111,548	(180,041)
Balance as of March 31, 2019	$ 3,599,378	$ 2,487,830

Derivative Financial Instrume_7

Derivative Financial Instruments - Warrants (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 28, 2017	Mar. 31, 2020
Derivative Financial Instruments - Warrants (Textual)
Warrant expiration period	10 years	7 years
Fair Value of Warrants, Description		The fair value of the warrants issued by the Company pursuant to the issuance of Series J convertible preferred shares (79,008,661 warrant shares) was calculated using a Black-Scholes model instead of a Monte Simulation because the probability with the shareholder approval provisions was no longer a factor. The following assumptions were used in the Black-Scholes model to calculate the fair value of warrants issued by the Company pursuant to the issuance of Series J convertible preferred shares (79,008,661 warrant shares).
Series J Warrant [Member]
Derivative Financial Instruments - Warrants (Textual)
Initial exercise price	$ 0.1521
Nasrat Hakim [Member]
Derivative Financial Instruments - Warrants (Textual)
Warrant shares	79,008,661
Nasrat Hakim [Member] | Series J Convertible preferred stock [Member]
Derivative Financial Instruments - Warrants (Textual)
Conversion of stock, shares issued	23.0344
Warrant shares	79,008,661
Conversion of stock, shares converted	158,017,321
Fair value of the warrants	$ 6,474,674

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Common Stock [Member] - shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Common Stock issued as of March 31, 2019 and 2018, respectively	824,946,559	802,626,761
Common Stock sold pursuant to the Lincoln Park Capital Purchase Agreements, with net proceeds of such shares totaling $1,437,978 and $2,063,541 for the years ended March 31, 2020 and 2019, respectively.	15,358,627	22,033,967
Common Stock issued as initial and additional commitment shares pursuant to the Lincoln Park Capital Purchase Agreements	199,181	285,831
Common Stock issued during the fiscal year	15,557,808	22,319,798
Common Stock issued as of March 31, 2020 and 2019, respectively	840,504,367	824,946,559

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual) - USD ($)	Jun. 05, 2017	May 01, 2017	Mar. 31, 2020	Mar. 31, 2019
Class of Stock [Line Items]
Proceeds from issuance stock			$ 1,437,978	$ 2,063,536
Common stock traded percent			30.00%
Common stock weighted average price percent			97.00%
Common Stock [Member]
Class of Stock [Line Items]
Common stock issued, Shares			15,557,808	22,319,798
Lincoln Park [Member]
Class of Stock [Line Items]
Purchase of common stock, Shares			15,358,627	22,033,967
Purchase of common stock, amount			$ 1,437,978	$ 2,063,541
Common stock additional shares issued			199,181	285,831
Description of sale of stock		The Company may direct Lincoln Park, at its sole discretion and subject to certain conditions, to purchase up to 500,000 shares of common stock on any business day, provided that at least one business day has passed since the most recent purchase, increasing to up to 1,000,000 shares, depending upon the closing sale price of the common stock (such purchases, "Regular Purchases"). However, in no event shall a Regular Purchase be more than $1,000,000.	The Company, from time to time and at the Company's sole discretion but no more frequently than every other business day, could direct Lincoln Park to purchase (a "Regular Purchase") up to 500,000 shares of common stock on any such business day, increasing up to 1,000,000 shares, depending upon the closing sale price of the common stock, provided that in no event shall Lincoln Park purchase more than $760,000 worth of common stock on any single business day. The purchase price of shares of common stock related to the future Regular Purchase funding will be based on the prevailing market prices of such shares at the time of sales (or over a period of up to ten business days leading up to such time), but in no event, will shares be sold to Lincoln Park on a day the Common Stock closing price is less than the floor price of $0.10 per share, subject to adjustment.
Lincoln Park [Member] | Lincoln Park Capital Purchase Agreement [Member]
Class of Stock [Line Items]
Purchase of common stock, amount			$ 1,437,978	$ 2,063,541
Lincoln Park Capital Fund, LLC [Member]
Class of Stock [Line Items]
Shares, issued	40,000,000	5,540,551
Common stock shares		500,000
Purchase of common stock increasing shares per purchase		1,000,000
Maximum common stock value directed to purchase		$ 1,000,000
Common stock additional shares issued		5,540,551
Common stock weighted average price percent		4.99%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Shares Underlying Options, Outstanding at Beginning	6,158,000	6,618,000
Shares Underlying Options, Granted	115,000
Shares Underlying Options, Forfeited and expired	(898,000)	(460,000)
Shares Underlying Options, Exercised
Shares Underlying Options, Outstanding at Ending	5,375,000	6,158,000
Shares Underlying Options, Exercisable	4,953,334
Weighted Average Exercise Price, Outstanding at Beginning	$ 0.15	$ 0.16
Weighted Average Exercise Price, Granted	0.10
Weighted Average Exercise Price, Options Forfeited and expired
Weighted Average Exercise Price, Outstanding at Ending	0.14	$ 0.15
Weighted Average Exercise Price, Options Exercisable	$ 0.14
Weighted Average Remaining Contractual Term (in years), Outstanding at Beginning	5 years	6 years 1 month 6 days
Weighted Average Remaining Contractual Term, Granted	9 years 6 months
Weighted Average Remaining Contractual Term (in years), Outstanding at Ending	4 years 1 month 6 days	5 years
Weighted Average Remaining Contractual Term (in years), Exercisable	4 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at Beginning	$ 87,330	$ 90,390
Aggregate Intrinsic Value, Forfeited and expired
Aggregate Intrinsic Value, Outstanding at Ending	$ 6,000	$ 87,330
Aggregate Intrinsic Value, Exercisable	$ 6,000

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-Based Compensation (Textual)
Noninterest expense directors fees	$ 2,311,250
Price difference between exercise price and quoted price	$ 0.07	$ 0.10
Payment of employee salaries	24,800,000
Maximum [Member]
Stock-Based Compensation (Textual)
Granted vesting period of options	10 years
Minimum [Member]
Stock-Based Compensation (Textual)
Granted vesting period of options	3 years
Director [Member] | Common Stock [Member]
Stock-Based Compensation (Textual)
Issuance of shares of common stock	756,725
Noninterest expense directors fees	$ 202,500
Shares for payment of directors fees outstanding	1,550,342
Accrued directors fees	$ 60,000
Cash payment made to director fees	30,000
Due to officers or stockholders	$ 67,500
Management [Member] | Common Stock [Member]
Stock-Based Compensation (Textual)
Payment of employee salaries	3,846,685
Chief Executive Officer [Member] | Common Stock [Member]
Stock-Based Compensation (Textual)
Payment of employee salaries	305,000
Chief Financial Officer [Member] | Common Stock [Member]
Stock-Based Compensation (Textual)
Payment of employee salaries	305,000

Concentrations and Credit Risk

Concentrations and Credit Risk (Details)	12 Months Ended
	Mar. 31, 2020SuppliersCustomers	Mar. 31, 2019SuppliersCustomers
Revenues [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	55.00%	57.00%
Number of customers	3	4
Revenues [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	24.00%	22.00%
Number of customers	3	4
Revenues [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	9.00%
Number of customers	3	4
Revenues [Member] | Customer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	92.00%
Number of customers	3
Revenues [Member] | Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		8.00%
Number of customers		4
Purchasing [Member] | Supplier One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	41.00%	35.00%
Number of suppliers | Suppliers	3	3
Purchasing [Member] | Supplier Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%	17.00%
Number of suppliers | Suppliers	3	3
Purchasing [Member] | Supplier Three [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	7.00%	11.00%
Number of suppliers | Suppliers	3	3
Purchasing [Member] | Supplier [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	71.00%	60.00%
Number of suppliers | Suppliers	3	3
Accounts Receivable [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	73.00%	38.00%
Number of customers	4	4
Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	13.00%	34.00%
Number of customers	4	4
Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%	19.00%
Number of customers	4	4
Accounts Receivable [Member] | Customer Four [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	5.00%	4.00%
Number of customers	4	4

Segment Results (Details)

Segment Results (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue by Segment
Revenue by Segment	$ 17,994,639	$ 7,568,508
Operating Income (Loss) by Segment
Operating Income (Loss) by Segment	(2,285,408)	(9,158,700)
ANDA [Member]
Revenue by Segment
Revenue by Segment	16,994,639	6,568,508
Operating Income (Loss) by Segment
Operating Income (Loss) by Segment	3,579,047	(4,361,649)
NDA [Member]
Revenue by Segment
Revenue by Segment	1,000,000	1,000,000
Operating Income (Loss) by Segment
Operating Income (Loss) by Segment	580,414	122,961
Business Segment [Member]
Revenue by Segment
Revenue by Segment	17,994,639	7,568,508
Operating Income (Loss) by Segment
Operating Income (Loss) by Segment	$ 4,159,461	$ (4,238,688)

Segment Results (Details 1)

Segment Results (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating income (loss) by segment	$ (2,285,408)	$ (9,158,700)
Interest income	11,979	21,461
Depreciation and amortization expense	(1,319,795)	(1,206,495)
Loss from operations before income tax	(2,238,351)	(9,955,337)
Business Segment [Member]
Operating income (loss) by segment	4,159,461	(4,238,688)
Corporate unallocated costs	(2,721,103)	(2,683,720)
Interest income	11,980	8,448
Interest expense and amortization of debt issuance costs	(355,874)	(369,174)
Depreciation and amortization expense	(1,319,795)	(1,206,495)
Significant non-cash items	(901,472)	(1,645,750)
Change in fair value of derivative instruments	(1,111,548)	180,042
Loss from operations before income tax	$ (2,238,351)	$ (9,955,337)

Collaborative Agreement with _2

Collaborative Agreement with Epic Pharma LLC (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jan. 31, 2016	Jun. 04, 2015	Mar. 31, 2020
2015 SequestOx License Agreement [Member]
Collaborative Agreement with Epic Pharma LLC (Textual)
Elite received non-refundable payments totaling			$ 7,500,000
Remaining non-refundable payments			7,500,000
Additional due			$ 5,000,000
Non-refundable milestone	$ 2,500,000
Description of license agreement expiration			The 2015 SequestOx™ License Agreement expired on June 4, 2020.
Collaborative Arrangement [Member]
Collaborative Agreement with Epic Pharma LLC (Textual)
Revenues recognition milestone method, description		The Company executed an exclusive License Agreement (the “2015 SequestOx™ License Agreement”) with Epic Pharma LLC (“Epic”), to market and sell in the U.S., SequestOx™, an immediate release oxycodone with sequestered naltrexone capsule, owned by us. Epic will have the exclusive right to market ELI-200 and its various dosage forms as listed in Schedule A of the Agreement. Epic is responsible for all regulatory and pharmacovigilance matters related to the products. Pursuant to the 2015 SequestOx™ License Agreement, Epic will pay us non-refundable milestone payments totalling $15 million, with such amount representing the cost of an exclusive license to SequestOx™, the cost of developing the product, the filing of an NDA with the FDA and the receipt of the approval letter for the NDA from the FDA.

Collaborative Agreement with _3

Collaborative Agreement with Sungen Pharma LLC (Details)	1 Months Ended
	Sep. 30, 2018USD ($)
Collaborative Agreement with Sungen Pharma LLC (Textual)
Total annual U.S. sales	$ 94,000,000

Related Party Transaction Agr_2

Related Party Transaction Agreements with Epic Pharma LLC (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jan. 31, 2016	Jun. 04, 2015	Mar. 31, 2020
2015 SequestOx License Agreement [Member]
Related Party Transaction Agreements with Epic Pharma LLC (Textual)
Elite received non-refundable payments totaling			$ 7,500,000
Remaining non-refundable payments			7,500,000
Additional due			$ 5,000,000
Non-refundable milestone	$ 2,500,000
2015 Epic License Agreement [Member]
Related Party Transaction Agreements with Epic Pharma LLC (Textual)
Milestone payments		$ 10,000,000

Manufacturing, License and De_2

Manufacturing, License and Development Agreements (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Manufacturing, License and Development Agreements (Textual)
Milestone method, description	The milestones, totalling $500k (with $405k already received), consist of amounts due upon the first shipment of each identified product, as follows: Phentermine 37.5mg tablets ($145k), Phentermine 15 & 30mg capsules ($45k), Hydromorphone 8mg ($125k), Naltrexone 50mg ($95k) and the balance of $95k due in relation to the first shipment of generic products which still require marketing authorizations from the FDA, and to which there can be no assurances of such marketing authorizations being granted and accordingly there can be no assurances that the Company will earn and receive these milestone amounts.
Revenue	$ 17,994,639	$ 7,568,508
Glenmark Alliance [Member]
Manufacturing, License and Development Agreements (Textual)
Milestone method, description	The Glenmark Alliance, provides for the manufacture by Elite and exclusive marketing by Glenmark of Isradipine capsules, Trimipramine capsules and Methadone Tablets, and semi-exclusive marketing rights for Phendimetrazine tablets. All marketing rights relating to Methadone Tablets were terminated by mutual agreement in January 2020 and all marketing rights relating to Phendimetrazine Tablets were terminated by mutual agreement in February 2020. In addition to the purchase prices for the products, Elite will receive license fees well in excess of 50% of gross profits. Gross profit is defined as net sales less the price paid to Elite for the products, distribution fees (less than 10%) and shipping costs. The Agreement has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Glenmark to terminate with regard to a product on at least three months’ prior written notice if it determines to stop marketing and selling such product, and it permits Elite to terminate with regard to a product if at any time after the first twelvemonths from the first commercial sale, the average license fee paid by Glenmark for such product is less than $100,000 for a six-month sales period.
Lannett-SunGen Product Alliance [Member]
Manufacturing, License and Development Agreements (Textual)
Milestone method, description	Lannett-SunGen Product Alliance with Lannett Company Inc. (“Lannett”), Lannett will be the exclusive U.S. marketer and distributor for Amphetamine IR Tablets and Amphetamine ER Capsules. Elite will manufacture and Lannett will purchase the products from Elite and then sell and distribute them. In addition to the purchase prices for the products, Elite will receive license fees in excess of 50% of net profits, which will be shared equally with SunGen, pursuant to the SunGen Agreement. The Lannett-SunGen Product Alliance has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Lannett to terminate with regard to a product on at least six months’ prior written notice, and it permits Elite or Lannett to terminate with regard to a product if at any time after the first twelve months from the first commercial sale, the average license fee paid by Lannett for such product is less than $300,000 for a six month sales period. In addition to manufacturing fees and license fees, Lannett also paid a milestone, of $750,000 upon the March 2020 commercial launch of Amphetamine ER Capsules.. This milestone payment was shared equally by Elite and SunGen, pursuant to the SunGen Agreement.
Lannett-Elite Product Alliance [Member]
Manufacturing, License and Development Agreements (Textual)
Milestone method, description	Lannett-Elite Product Alliance, Lannett is the exclusive U.S. marketer and distributor for Dantrolene Capsules. Elite manufactures and Lannett purchases, markets and distributes this product. In addition to the purchase prices for the products, Elite receives license fees in excess of 50% of net profits. Net profits are defined as net sales less the price paid to Elite for the products, distribution fees (less than 10%) and shipping costs. The Lannett-Elite Product Alliance has an initial term of three years and automatically renews for one-year periods absent prior written notice of non-renewal. In addition to customary termination provisions, the Agreement permits Lannett to terminate with regard to a product on at least six months’ prior written notice and it permits Elite or Lannett to terminate with regard to a product if at any time after the first twelve months from the first commercial sale, the average license fee paid by Lannett for such product is less than $300,000 for a six month sales period. The first commercial shipment of Dantrolene Capsules occurred in June 2019.
Precision Dose Agreement [Member]
Manufacturing, License and Development Agreements (Textual)
Milestone method, description	The Precision Dose Agreement currently provides for the marketing and distribution, by Precision Dose and its wholly owned subsidiary, TAGI Pharma, of Phentermine 37.5mg tablets (launched in April 2011), Phentermine 15mg capsules (launched in April 2013), Phentermine 30mg capsules (launched in April 2013), Naltrexone 50mg tablets (launched in September 2013) and certain additional products that require approval from the FDA which has not been received. Precision Dose will have the exclusive right to market these products in the United States and Puerto Rico and a non-exclusive right to market the products in Canada. Pursuant to the Precision Dose License Agreement, Elite received $200k at signing, and is receiving milestone payments and a license fee which is based on profits achieved from the commercial sale of the products included in the agreement.
Revenue	$ 200,000

Related Party Agreements with_2

Related Party Agreements with Mikah Pharma LLC (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Customer deposit		$ 150,000
Mikah [Member]
Advance payment for purchase received	480,000
Aggregate cost	542,214
Customer deposit	$ 62,214

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Federal
Current
Deferred
State
Current		3,000
Deferred
Benefit from sale of state net operating loss credits		673,016
Net benefit from sale of state net operating loss credits		$ 676,016

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Federal [Member]
Net operating loss carry forward	$ 21,360	$ 21,005
Valuation allowance	(21,360)	(21,005)
Deferred tax assets and liabilities
State Tax Jurisdictions [Member]
Net operating loss carry forward	2,258	2,239
Valuation allowance	(2,258)	(2,239)
Deferred tax assets and liabilities

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Valuation allowance percentage	100.00%	100.00%
Federal [Member]
Operating Loss Carryforwards	$ 21,400,000
State Tax Jurisdictions [Member]
Operating Loss Carryforwards	$ 22,000,000

Other Income - Proceeds from _2

Other Income - Proceeds from Sale of ANDAs (Details) - USD ($)	1 Months Ended
	Feb. 29, 2020	Nov. 19, 2019
Percocet [Member]
Total cash consideration	$ 300,000	$ 300,000
Norco [Member]
Total cash consideration	300,000	$ 300,000
Dilaudid [Member]
Total cash consideration	$ 300,000

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Events [Member]	Jun. 23, 2020shares
Proposal No. 1 [Member]
Proposal For:	776,095,460
Against:	134,034,571
Abstain:	4,064,230
Proposal No. 2 [Member]
Proposal For:	836,158,065
Against:	70,781,471
Abstain:	7,254,725

Subsequent Events (Details Text

Subsequent Events (Details Textual) - Subsequent Events [Member] - USD ($)	1 Months Ended
	Jun. 23, 2020	Apr. 30, 2020
Subsequent Events (Textual)
Net tax benefits, description		The Company sold the net tax benefits approved for sale at a transfer price equal to ninety-two cents for every benefit dollar for total proceeds of $870,695.
Proposal No. 1 [Member]
Subsequent Events (Textual)
Proposal description	To again vote on the amendment of our Articles of Incorporation to increase the number of shares of common stock the Company is authorized to issue from 995,000,000 shares to 1,445,000,000 shares and to file a new amendment to our Articles of Incorporation reflecting such approval.
Proposal No. 2 [Member]
Subsequent Events (Textual)
Proposal description	The Company filed an amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada re-adopting the prior amendment increasing the number of shares of common stock that it is authorized to issue from 995,000,000 shares to 1,445,000,000 shares. The par value of the common stock remains $0.001 per share.
New Jersey Operating losses [Member]
Subsequent Events (Textual)
Net tax benefits		$ 607,635
RDTax Credits [Member]
Subsequent Events (Textual)
Net tax benefits		$ 338,772