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China Medicine Announces Strong Second Quarter 2008 Results
Date:8/13/2008

86,003 81,221

Total current assets 34,720,360 29,407,079

EQUIPMENT, net 1,296,716 1,388,919

OTHER ASSETS

Deferred expenses 541,328 678,237

Deposit for patent 622,993 --

Intangible assets, net 1,240,804 1,166,003

Total other assets 2,405,125 1,844,240

Total assets $38,422,201 $32,640,238

L I A B I L I T I E S A N D

S H A R E H O L D E R S' E Q U I T Y

CURRENT LIABILITIES

Accounts payable, trade $104,401 $76,907

Other payables and accrued

liabilities 19,686 70,343

Customer deposits 221,401 203,281

Taxes payable 115,782 468,184

Liquidated damages payable 44,003 44,003

Total liabilities 505,273 862,718

MINORITY INTEREST 904,070 893,337

SHAREHOLDERS' EQUITY

Preferred stock, $0.0001 par value;

10,000,000 shares authorized,

- and 111,649 shares issued and

outstanding at June 30, 2008 and

December 31, 2007, respectively -- 11

Common stock, $0.0001 par value;

100,000,000 shares authorized,

15,226,742 and 14,821,641 shares

issued and outstanding at June 30,

2008 and December 31, 2007,

respectively 1,522 1,482

Paid-in capital 12,974,863 12,560,078

Statutory reserves
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SOURCE China Medicine Corporation
Copyright©2008 PR Newswire.
All rights reserved

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