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Genesis Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2009
Date:2/17/2009

Other payables 5,613,441 3,671,703 Other payables - related parties 391,793 324,972 Accrued liabilities 231,715 173,604 Liabilities assumed from reorganization 1,771,650 1,084,427 Taxes payable 14,014,450 166,433 Total current liabilities 33,729,402 16,378,346 CONVERTIBLE DEBT, net of discount of $31,364,174 and $32,499,957 as of December 31, 2008 and June 30, 2008, respectively 3,986,278 2,500,043 Total Liabilities 37,715,680 18,878,389 COMMITMENTS AND CONTINGENCIES -- -- SHAREHOLDERS' EQUITY: Preferred stock ($0.001 par value; 20,000,000 shares authorized; none issued or outstanding) -- -- Common stock ($0.001 par value, 22,500,000 and 15,000,000 shares authorized, respectively; 9,791,448 and 9,767,844 shares issued and outstanding as of December 31 and June 30, 2008 respectively) 9,792 9,770 Paid-in-capital 73,566,519 45,554,513 Capital contribution receivable (27,845,000) (11,000) Retained earnings 46,109,412 39,008,403 Statutory reserves 4,685,539 3,253,878 Accumulated other comprehensive income 6,332,752 7,700,905 Total shareholders' equity 102,859,014 95,516,469 Total liabilities and shareholders' equity $ 140,574,694 $ 114,394,858 GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES CONSOLIDATED STATE
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
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