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Kiwa Bio-Tech Third Quarter Revenues Increase 226% - Nine-Month Revenues $6.2 Million
Date:11/7/2007

lowance of $269,546 and $258,667,

respectively 441,583 929,446

Inventories 696,267 541,340

Prepaid expenses 102,822 302,007

Other current assets 65,844 57,011

Total current assets 1,356,268 2,327,907

Property, Plant and Equipment:

Buildings 1,094,238 1,046,116

Machinery and equipment 642,147 585,282

Automobiles 74,063 47,772

Office equipment 90,671 78,096

Computer software 9,606 9,240

Property plant and equipment - total 1,910,725 1,766,506

Less: accumulated depreciation (390,212) (286,039)

Property plant and equipment - net 1,520,513 1,480,467

Construction in progress 101,333 34,548

Intangible asset - net 303,682 337,027

Deferred financing costs 150,293 211,793

Deposit to purchase the proprietary

technology 126,443 126,443

Total assets $3,558,532 $4,518,185

LIABILITIES AND SHAREHOLDERS' EQUITY

(DEFICIENCY)

Current liabilities

Accounts payable and accrued expenses $1,632,627 $983,980

Construction costs payable 308,202 366,879

Due to related parties-non-trade 454,438 496,806

Due to related parties-trade 70,000 --

Current portion of bank notes

payables
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SOURCE Kiwa Bio-Tech Products Group Corporation
Copyright©2007 PR Newswire.
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