Bionovo Reports First Quarter 2008 Financi...(- - Commitments and cont...)

Commitments and contingencies

Shareholders' equity:

Preferred stock, $0.0001 par value;

10,000,000 shares authorized; none

issued and outstanding

Common stock, $0.0001 par value, 190,000,000

shares authorized; 76,343,101 shares issued

and outstanding as of March 31, 2008 and

December 31, 2007, respectively 8,166 8,166

Additional paid-in capital 57,980,224 57,659,513

Accumulated other comprehensive income 20,415 4,480

Accumulated deficit (26,698,561) (22,749,965)

Total shareholders' equity 31,310,244 34,922,194

Total liabilities and shareholders' equity 34,710,879 38,165,171

(1) The balance sheet at December 31, 2007 has been derived from the

audited financial statements at that date but does not include all of

the information and footnotes required by accounting principles

generally accepted in the United States for complete financial

statements.