ed with the
Securities and Exchange Commission and available on its website (
http://www.sec.gov ). All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in their
entirety by these factors. Other than as required under the securities
laws, the Company does not assume a duty to update these forward-looking
statements.
CHINA BIO ENERGY HOLDING GROUP CO., LTD. AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
As of December 31,
2007 2006
ASSETS
CURRENT ASSETS
Cash and cash equivalents $1,382,371 $ 631,443
Restricted cash 200,000 641,433
Accounts receivable, net 288,589 5,745,362
Other receivables 1,548,681 159,857
Prepaid expenses 2,896,493 --
Advance to suppliers 16,546,506 4,276,233
Inventories 12,082,962 7,303,981
Advance to shareholders -- 22,054
Due from related party 593,696 315,497
Total current assets 35,539,298 19,095,860
CONSTRUCTION IN PROGRESS -- 515,742
PROPERTY AND EQUIPMENT, net 8,166,250 704,871
TOTAL ASSETS $43,705,548 $20,316,473
LIABILITIES AND STOCKHOLDERS'
EQUITY
CURRENT LIABILITIES
Accounts payable 179,617 2,267,116
Advance from customers 499,908
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SOURCE China Bio Energy Holding Group Co., Ltd. Copyright©2008 PR Newswire. All rights reserved | |
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