Kiwa Bio-Tech Revenues for 1st Half Exceed $3....(fully disclosed in the Company'sreports ...)
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Kiwa Bio-Tech Revenues for 1st Half Exceed $3.25 Million
Date:8/19/2007
fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Contact:
Kiwa Bio-Tech Products Group Corporation
Yvonne Wang
(626) 715-5855
Robert Schechter
Equity Communications
212-499-6809
Kiwa Bio-Tech Products Group Corporation
Consolidated Statements of Operations and Comprehensive Income (Unaudited)
Item Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
Net sales $1,872,647 $13,351 $3,256,740 $24,374
Cost of sales 1,798,905 12,545 3,044,675 19,955
Gross profit 73,742 806 212,065 4,419
Operating expenses:
Consulting and
professional fees 267,678 243,914 457,139 288,314
Officers' compensation 89,427 109,102 154,469 115,070
General and
administrative 196,499 79,660 375,523 148,594
Selling expenses 63,642 19,601 207,267 22,889
Research and development 43,495 8,461 92,799 16,362
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SOURCE Kiwa Bio-Tech Products Group Corporation Copyright©2007 PR Newswire. |
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