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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

parties - trade 233,267 177,970

Due to related parties - non-trade 555,842 551,654

Current portion of long-term

liabilities 547,535 2,889

Total current liabilities 3,846,209 2,854,458

Long-term liabilities, less

current portion

Unsecured loans payable 1,676,604 1,574,350

Bank notes payable 13,420 17,988

Long-term convertible notes payable 1,519,439 2,058,625

Less:

discount relating to

long-term convertible notes

payable (609,325) (856,308)

Long-term convertible notes

payable - net 910,114 1,202,317

Total long-term liabilities 2,600,138 2,794,655

Minority interest in a subsidiary 91,382 110,838

Shareholders' equity (deficiency)

Common stock - $0.001 par value

Authorized 200,000,000 shares.

Issued and outstanding

88,788,245 and

81,519,676 shares at June 30, 2008

and December 31, 2007 88,788 81,520

Preferred stock - $0.001 par value

Authorized 20,000,000 shares,

none issued -- --

Additional paid-in capital 9,992,766 9,217,876

Stock-based compensation reserve (224,764) (307,053)

Deficit accumulated (12,391,738) (11,074,522)

Accumulated other comprehensive

income (38,833) (2,592)

Total shareholders'

equity (deficiency) (2,573,781) (2,084,771)

Total liabilities and
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SOURCE Kiwa Bio-Tech Products Group Corporation
Copyright©2008 PR Newswire.
All rights reserved

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1. Kiwa Bio-Tech Receives Nationally Recognized Organic Products Certification
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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.
6. Kiwa Bio-Tech Passes Test & Taking Orders From Beijing Lv Fu Long Vegetable Company
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