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Kiwa Bio-Tech Year-End Revenues Increase 264% - Exceed $9.1 Million
Date:3/26/2008

2007 2006

ASSETS

Current assets

Cash and cash equivalents $ 61,073 $ 498,103

Accounts receivable, net of bad

debt allowance of $277,140

and $258,667, respectively 470,298 929,446

Inventories 818,329 541,340

Prepaid expenses 70,460 302,007

Other current assets 67,372 57,011

Total current assets 1,487,532 2,327,907

Property, Plant and Equipment

Buildings 1,125,128 1,046,116

Machinery and equipment 697,205 585,282

Automobiles 76,154 47,772

Office equipment 93,231 78,096

Computer software 9,877 9,240

Property plant and equipment - total 2,001,595 1,766,506

Less: accumulated depreciation (433,690) (286,039)

Property plant and equipment - net 1,567,905 1,480,467

Construction in progress 67,262 34,548

Intangible asset - net 296,245 337,027

Deferred financing costs 129,793 211,793

Deposit to purchase the proprietary

technology 126,443 126,443

Total assets $ 3,675,180 $ 4,518,185

LIABILITIES AND SHAREHOLDERS' EQUITY

(DEFICIENCY)

Current liabilities

Accounts payable and accrued

expenses $ 1,862,043 $ 958,368

Construction costs payab
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SOURCE Kiwa Bio-Tech Products Group Corporation
Copyright©2008 PR Newswire.
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