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Tianyin Pharmaceutical Co., Inc. Announces First Quarter 2009 Financial Results

ic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, intended or planned.


Consolidated Balance Sheets


September 30, June 30,

2008 2008



Current assets:

Cash and cash equivalents $12,417,925 $12,057,150

Accounts receivable, net of

allowance for doubtful

accounts of $90,311

and $90,064 at September 30,

2008 and June 30,

2008, respectively 4,560,718 4,460,406

Inventory 4,584,781 3,555,691

Other receivables 712,120 371,815

Other current assets 94,317 247,139

Total current assets: 22,369,861 20,692,201

Property and equipment, net: 5,695,589 5,758,966

Intangibles, net: 10,471,414 10,307,754

Total assets: $38,536,864 $36,758,921

Liabilities and stockholders' equity:

Current liabilities:

Accounts payable and accrued expenses $1,280,592 $1,337,682

Short-term bank loans 1,397,165 1,393,345

VAT taxes payable 262,079 277,090

Income tax payable

SOURCE Tianyin Pharmaceutical Co., Inc.
Copyright©2008 PR Newswire.
All rights reserved

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