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Biostar Pharmaceuticals, Inc. Reports Record Revenues and Earnings for 2008
Date:4/7/2009

(60,292) Other 6 (33) Foreign exchange loss -- (3,970) Total other Income (Expense) (37,698) (60,803) Income before income taxes 7,723,944 4,784,960 Provision for income taxes 1,033,402 821,436 Net income $6,690,542 $3,963,524 Deemed dividend from beneficial conversion feature of Series A preferred stock (1,462,240) -- Net income applicable to common shareholders $5,228,302 $3,963,524 Net income per common share Basic $0.23 $0.20 Diluted $0.22 $0.19 Weighted average common shares outstanding Basic 22,369,434 20,220,037 Diluted 23,257,470 20,858,278 BIOSTAR PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS December 31, December 31, 2008 2007 ASSETS Current Assets Cash and cash equivalents $758,316 $2,286,419 Accounts receivable 11,700,841 4,123,135 Inventories 315,745 207,895 Prepaid expenses and other receivables 2,926,505 18,225 Total Current Assets 15,701,407 6,635,674 Property and equipment, net 5,930,467 6,206,994 Intangible assets, net 7,365,76
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