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Benda Pharmaceutical Reports Third Quarter 2008 Financial Results
Date:11/18/2008

326,620 453,595 Refundable purchase price paid -- 1,200,000 Short-term loan receivables 146,304 -- Due from related parties 11,559 -- Inventories 2,788,243 1,952,348 Prepaid expenses and deposits 1,187,384 933,299 Total current assets 18,040,634 16,277,715 Due from related parties 2,767,180 2,630,019 Property and equipments, net 28,301,078 27,123,035 Intangible assets, net 6,414,931 6,494,510 Goodwill 7,892,402 7,395,752 Restricted cash 5,905,365 3,957,624 Other assets 1,825,869 1,710,972 Refundable purchase price paid 1,200,000 -- Debt issue costs 129,585 327,945 Total Assets $72,477,044 $65,917,572 Liabilities & Shareholders' Equity Current Liabilities Bank indebtedness $1,259,525 $874,490 Bank loans payable (current portion) 2,976,792 2,867,004 Long term debt payable (current portion) 2,228,395 1,787,239 Accounts payable and accrued liabilities 6,244,768 4,665,984 Commercial notes payable 8,985,183 5,118,758 Taxes payable 997,717 1,279,385 Acquisition price payable 1,422,778 1,333,246 Wages payable 942,144 664,785 Due to related parties 1,097,171 -- Total
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SOURCE Benda Pharmaceutical, Inc.
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