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Biostar Pharmaceuticals, Inc. Reports Continued Revenues and Earnings Growth in First Quarter of 2009
Date:5/27/2009

BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS March 31, December 31, 2009 2008 (Unaudited) ASSETS Current Assets Cash and cash equivalents $694,645 $758,316 Accounts receivable 13,838,976 11,700,841 Inventories 304,605 315,745 Prepaid expenses and other receivables 3,324,594 2,926,505 Total Current Assets 18,162,820 15,701,407 Property and equipment, net 5,845,925 5,930,467 Intangible assets, net 7,284,037 7,365,765 Total Assets $31,292,782 $28,997,639 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses $2,573,483 $2,191,976 Customer advances 2,559,308 2,592,250 Value-added tax payable 564,814 527,103 Income tax payable 480,221 413,205 Total Current Liabilities 6,177,826 5,724,534 Commitment Stockholders' Equity Series A, convertible preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding -- -- Undesignated preferred stock, $.001 par value, 5,000,000 shares authorized, -- -- Common stock, $.001 par value, 100,000,000 shares authorized,23,240,899 shares issued and outstanding at March 31, 20
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SOURCE Biostar Pharmaceuticals, Inc.
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