Date:5/17/2010

'john.mattio@hcinternational.net' onClick="var s=s_gi(s_account);s.linkTrackVars='prop5,eVar3,prop15';s.prop5='External Link';s.eVar3=s.prop5;s.prop15='93917079';s.tl(this,'o','ExternalLink');">john.mattio@hcinternational.net Web: http://www.hcinternational.net BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS March 31, December 31, 2010 2009 (Unaudited) (Audited) ASSETS Current Assets Cash and cash equivalents $8,642,418 $8,577,704 Accounts receivable 20,837,401 19,803,434 Inventories 564,955 340,078 Prepaid expenses and other receivables 1,487,143 1,500,327 Total Current Assets 31,531,917 30,221,543 Deposits 877,693 1,316,328 Property, plant and equipment, net 5,202,236 4,340,917 Intangible assets, net 11,314,977 11,131,681 Total Assets $48,926,823 $47,010,469 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses $4,005,676 $3,559,281 Value-added tax payable 628,908 1,050,051 Income tax payable 920,079 1,481,266 Total Current Liabilities 5,554,663 6,090,598 Commitment and contingencies Stockholders' Equity Series B, convertible preferred stock, $0.001 par value, 5,000,000 shares authorized, 1,467,317 and 3
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