China Pharma Holdings, Inc. Announces Record 2007 Year E...(14448771 10277887 Total Curr...)

Total Current Assets 38,830,343 25,707,128

Non-current Assets:

Property and equipment, net of

accumulated depreciation of

$1,003,802 and $619,645,

respectively 2,625,216 2,725,173

Intangible assets, net of

accumulated amortization of

$221,715 and $135,656, respectively 2,063,252 65,344

Deferred tax assets 187,509 16,736

Total Non-current Assets 4,875,977 2,807,253

TOTAL ASSETS $43,706,320 $28,514,381

LIABILITIES AND SHAREHOLDERS'

EQUITY

Current Liabilities:

Trade accounts payable $ 297,299 $ 477,291

Accrued expenses 261,301 104,216

Accrued taxes payable 311,009 167,419

Other payables 86,161 185,096

Advances from customers 261,583 141,871

Accounts payable - related parties -- 22,650

Short-term notes payable 2,693,428 6,533,649

Total Current Liabilities 3,910,781 7,632,192

Research and development

commitments 34,181 31,980

Total Liabilities 3,944,962 7,664,172

Stockholders' Equity:

Common stock, $0.001 par value,

60,000,000 shares authorized,

37,278,938 and 34,723,056

shares issued and

outstanding, respectively 37,279 34,723

Additional paid-in capital 11,678,606 7,764,979

Foreign currency translation

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