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China Pharma Holdings, Inc. Announces First Quarter 2008 Financial Results
Date:5/2/2008

2,625,216

Intangible assets, net of accumulated

amortization of $291,809 and $221,715,

respectively 2,515,356 2,063,252

Advances for purchase of intangible

assets 2,801,633 807,345

Deferred tax assets 195,303 187,509

Total Non-current Assets 8,148,322 5,683,322

TOTAL ASSETS $50,490,383 $43,706,320

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:

Trade accounts payable $590,722 $297,299

Accrued expenses 265,008 261,301

Accrued taxes payable 1,078,850 311,009

Other payables 42,521 86,161

Advances from customers 359,646 261,583

Short-term notes payable 2,420,894 2,693,428

Total Current Liabilities 4,757,641 3,910,781

Research and development commitments 35,601 34,181

Total Liabilities 4,793,242 3,944,962

Stockholders' Equity:

Common stock, $0.001 par value,

60,000,000 shares authorized,

37,278,938 shares issued and

outstanding 37,279 37,279

Additional paid-in capital 11,678,606 11,678,606

Foreign currency translation adjustment 4,584,546 2,839,304

Retained earnings 29,396,710 25,206,169

Total Stockholders' Equity 45,697,141 39,761,358

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $50,490,383 $43,706,320

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SOURCE China Pharma Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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