v2.3.0.15

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
Condensed Consolidated Statements of Operations (USD $)	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
Revenues-
Trade, net of returns	$ 174,571	$ 271,545	$ 486,274	$ 555,038
Related parties	12,106	21,727	44,327	62,365
Total Revenue	186,677	293,272	530,601	617,403
Cost of Revenue	150,429	221,037	425,965	470,711
Gross profit	36,248	72,235	104,636	146,692
Operating expenses
Payroll expenses	48,822	38,488	91,120	73,609
General and administrative	16,698	24,204	34,944	68,094
Rent and utilities	24,066	23,372	47,800	47,677
Legal and professional fees	21,791	15,335	69,687	65,336
Total operating expenses	(111,377)	(101,399)	(243,551)	(254,716)
Other income/(expenses)
Interest income	4	62	6	122
Interest under capital leases	(229)	(402)	(504)	(844)
Note interest	(2,187)	(2,067)	(4,375)	(4,467)
Total other income/(expenses)	(2,412)	(2,407)	(4,873)	(5,189)
Loss before income taxes	(77,541)	(31,571)	(143,788)	(113,213)
Provision for income taxes	0	0	0	0
Net loss	(77,541)	(31,571)	(143,788)	(113,213)
Less: Net loss attributable to noncontrolling interest	(21,934)	(6,163)	(26,099)	(19,485)
Net loss attributable to Elite Energies, Inc.	$ (55,607)	$ (25,408)	$ (117,689)	$ (93,728)
Loss per Share - Basis and Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average number of common shares outstanding during the period - Basis and Diluted	30,340,955	26,340,955	29,707,075	26,340,955

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Revenues arising from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's' management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1(e))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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-Publisher FASB

-Name Accounting Standards Codification

-Glossary Related Parties

-URI http://asc.fasb.org/extlink&oid=6523133

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 2

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 946

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.6-07.1(c))

-URI http://asc.fasb.org/extlink&oid=6488393&loc=d3e606610-122999

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-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

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-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 07

-Paragraph b

-Subparagraph 1

-Article 6

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Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

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-Topic 225

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-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

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Expenditures for salaries other than officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold.

+ References

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- Definition

Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

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-Name Accounting Standards Codification

-Topic 225

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-Subparagraph (SX 210.5-03.1(a))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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Elite Energies, Inc. 10-Q