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Kiwa Bio-Tech 2nd Quarter Revenues Increase 61.7% to $3 Million, Six Month Revenues Top $5.2 Million
Date:8/11/2008

p>Current assets

Cash and cash equivalents $ 19,932 $ 61,073

Accounts

receivable, net of

allowance for

doubtful accounts of

$295,141 and $277,140,

respectively 689,102 470,298

Inventories 914,948 818,329

Prepaid expenses 20,897 70,460

Other current assets 136,640 67,372

Total current assets 1,781,519 1,487,532

Property, Plant and Equipment

Buildings 1,237,537 1,162,060

Machinery and equipment 703,157 660,273

Automobiles 81,100 76,154

Office equipment 107,489 93,231

Computer software 10,519 9,877

Property, plant and

equipment - total 2,139,802 2,001,595

Less: accumulated depreciation (525,626) (433,690) Property, plant and equipment - net 1,614,176 1,567,905 Construction in progress 71,631 67,262 Intangible asset - net 281,386 296,245 Deferred financing costs 88,793 129,793 Deposit to purchase proprietary

technology 126,443 126,443 Total assets $ 3,963,948 $ 3,675,180

LIABILITIES AND SHAREHOLDERS'

EQUITY (DEFICIENCY)

Current liabilities

Accounts payable $ 2,193,949 $ 1,805,043

Construction costs payable 315,616 316,902

Due to related
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SOURCE Kiwa Bio-Tech Products Group Corporation
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4. Kiwa Bio-Tech Joint Venture to Produce Preventative for Avian Flu
5. Kiwa Bio-Tech in Collaboration Discussions with Beijing Hai Xin Science and Technology Co., Ltd.
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9. Kiwa Bio-Tech Year-End Revenues Increase 264% - Exceed $9.1 Million
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11. Kiwa Bio-Tech Products Group Discusses Cooperative Research With the University of Waterloo, Canada
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