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Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
Date:8/19/2007

ture events or otherwise.

- FINANCIAL TABLES FOLLOW -

SKYSTAR BIO-PHARMACEUTICAL COMPANY AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2007 AND DECEMBER 31, 2006

ASSETS

June 30, December 31,

2007 2006

Unaudited

CURRENT ASSETS:

Cash $2,828,299 $192,016

Restricted cash 71,764 69,610

Accounts receivable, trade, net of allowance

for doubtful accounts of $11,870 and

$14,426 as of June 30, 2006 and December

31, 2006, respectively 312,380 131,599

Inventories 974,404 528,566

Deposits and prepaid expenses 549,544 29,944

Loans receivable 403,278 8,558

Other receivables 21,959 38,881

Other receivables- related party 64,594 -

Total current assets 5,226,222 999,174

PLANT AND EQUIPMENT, net 11,426,613 10,910,948

OTHER ASSETS:

Deferred debenture expense 817,524 -

Prepaid land use right, net 315,827 311,212

Intangible, net 15,342 25,640

Total other assets 1,148,693 336,852

Total assets $17,801,528 $12,246,974

CURRENT LIABILITIES:

Interest-bearing short-term loan $39
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SOURCE Skystar Bio-Pharmaceutical Co.

Copyright©2007 PR Newswire.

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