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China Aoxing Pharmaceutical Reports Financial Results for the First Quarter of Fiscal 2008
Date:11/15/2007

200,973

TOTAL CURRENT ASSETS 1,709,392

PROPERTY AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION 19,324,273

DEFERRED INTEREST 9,011,856

TOTAL ASSETS $30,045,521

CURRENT LIABILITIES:

Short-term borrowings $266,042

Accounts payable 638,781

Loan payable - other 573,550

Due to stockholders 685,798

Accrued expenses and taxes payable 2,286,924

Current portion of long-term debt 6,983,473

TOTAL CURRENT LIABILITIES 11,434,568

LONG-TERM DEBT 4,389,699

CONVERTIBLE DEBENTURES 2,347,000

STOCKHOLDERS' EQUITY:

Common stock, $0.001 par value,

100,000,000 shares authorized

41,595,507 shares issued and outstanding 40,595

Preferred stock, $0.001 par value,

300,000 shares authorized

277,018 shares issued and outstanding 277

Additional paid-in capital 19,470,686

Deferred stock compensation (255,277)

Accumulated deficit (7,807,723)

Other comprehensive income 425,696

TOTAL STOCKHOLDERS' EQUITY 11,874,254

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $30,045,521

CONSOLIDATED STATEMENTS OF OPERATIONS


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SOURCE China Aoxing Pharmaceutical Company, Inc.
Copyright©2007 PR Newswire.
All rights reserved

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