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Aida Files 10Q
Date:11/15/2007

SANTA MONICA, Calif., Nov. 15 /PRNewswire-FirstCall/ -- Aida Pharmaceuticals, Inc. (OTC Bulletin Board: AIDA) today announced that it has filed its form 10Q for the period ended September 30, 2007. Net revenues totaled $7,373,770 for the quarter ended 9/20/07, an increase of 5% over the same period in 2006. Gross profit decreased by 2.66% due to an increase in Costs of Goods Sold. Most notably, sales from Aida's transfusion and injection forms of etimicin sulfate increased markedly. Gross profit margins for Aida remained very strong, decreasing slightly from 55.81% to 51.75%.

Aida management expects the decrease in profits to be temporary. The Chinese pharmaceutical industry is in a state of transition due to policy changes by China's State Food and Drug Administration (SFDA). The new medicine tender system for hospitals in some areas in 2007 requires hospitals to purchase medicines and drugs directly from pharmaceutical manufacturers rather than distributors, which resulted in sales returns from some distributors. Aida has proactively and rapidly revised its distribution channels and is ready to compensate for the national policy changes. Aida also expects a strong showing from the new drugs in its pipeline that are coming to market in the coming quarters. Aida expects that these drugs will ease Aida's reliance on etimicin sulfate as a revenue generator and lessen the fluctuation in the Company's performance.

About Aida Pharmaceuticals

Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company's mission is to discover, develop and market meaningful new therapies that improve human health. Aida Pharmaceuticals, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically-friendly practices.

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation

AIDA PHARMACEUTICALS, INC.

(FORMERLY BAS CONSULTING, INC.) AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS

OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)

FOR THE THREE MONTHS FOR THE NINE MONTHS

ENDED ENDED

SEPTEMBER 30, SEPTEMBER 30,

2007 2006 2007 2006

REVENUES, (NET) $7,373,770 $7,023,891 $18,687,283 $19,659,235

COST OF GOODS SOLD (3,557,685) (3,103,516) (9,740,952) (9,679,567)

GROSS PROFIT 3,816,085 3,920,375 8,946,331 9,979,668

Selling and

distribution 1,387,818 1,175,000 3,515,776 4,728,989

General and

administrative 991,216 1,306,226 3,006,799 2,896,205

Research and

development 74,514 45,323 238,159 45,111

INCOME FROM

OPERATIONS 1,362,537 1,393,826 2,185,597 2,309,363

OTHER INCOME

(EXPENSES)

Interest expense,

net (465,282) (459,511) (1,180,813) (1,114,105)

Government grants 46,131 551,420 95,998 1,097,724

(Loss) gain on

sales of

investment (10,457) -- (10,457) 12,490

Gain on sale of

marketable

securities -- -- 120,356 --

Other income

(loss), net (3,478) (77,358) (122,876) (120,734)

INCOME BEFORE INCOME

TAXES 929,451 1,408,377 1,087,805 2,184,738

INCOME TAXES (153,182) (217,720) (191,349) (445,047)

INCOME BEFORE

MINORITY INTERESTS 776,269 1,190,657 896,456 1,739,691

MINORITY INTERESTS (257,208) (271,372) (563,068) (413,018)

NET INCOME 519,061 919,285 333,388 1,326,673

OTHER COMPREHENSIVE

INCOME

Foreign currency

translation gain 30,098 73,643 492,663 160,785

OTHER COMPREHENSIVE

INCOME BEFORE INCOME

TAXES 30,098 73,643 492,663 160,785

INCOME TAXES RELATED

TO OTHER

COMPREHENSIVE

INCOME (7,946) (24,302) (130,063) (54,012)

OTHER COMPREHENSIVE

INCOME, NET OF

INCOME TAXES 22,152 49,341 362,600 106,773

COMPREHENSIVE INCOME $541,213 $968,626 $ 695,988 $1,433,446

WEIGHTED AVERAGE

SHARES OUTSTANDING

BASIC AND DILUTED 27,000,000 25,000,000 27,000,000 25,000,000

NET INCOME PER COMMON

SHARE, BASIC AND

DILUTED $0.02 $0.04 $0.01 $0.05


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SOURCE Aida Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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