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China Bio Energy Reports Fourth Quarter and Record 2008 Financial Results
Date:3/23/2009

http://www.hcinternational.net" target="_new">http://www.hcinternational.net CHINA BIO ENERGY HOLDING GROUP CO., LTD. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS For The Year Ended December 31, December 31, 2008 2007 ASSETS CURRENT ASSETS Cash and cash equivalents $23,119,028 $1,382,371 Restricted cash 919,351 200,000 Accounts receivable 8,164,320 288,589 Other receivables and deposits 3,986,984 4,403,762 Prepaid expenses 1,884,102 41,412 Advance to suppliers 17,945,487 16,546,506 Inventories, net 22,268,903 12,082,962 Due from related party -- 593,696 Total current assets 78,288,175 35,539,298 Prepaid rents 6,408,568 -- Property and equipment, net 9,997,674 8,166,250 Total noncurrent assets 16,406,242 8,166,250 TOTAL ASSETS $94,694,417 $43,705,548 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ -- $179,617 Advance from customers 4,580,462 499,908 Taxes payable 735,461 125,015 Other payables 3,232,088 3,233,552 Loans payable 2,247,197 1,438,164 Total current liabilities 10,795,
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SOURCE China Bio Energy Holdings Group
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