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Tianyin Pharmaceutical Co., Inc. Announces Record Second Quarter 2010 Financial Results
Date:2/8/2010

counts receivable, net of allowance for doubtful accounts of $172,182 and $171,947 at December 31, 2009 and June 30, 2009, respectively 8,642,875 5,620,519 Inventory 3,220,937 3,808,289 Advance payments 381,420 1,188,115 Loan receivable 293,400 -- Other receivables 201,321 601,912 Other current assets 43,811 81,277 Total current assets 32,650,337 23,652,335 Property and equipment, net 10,646,495 9,642,526 Intangibles, net 15,470,215 12,037,483 Total assets $58,767,047 $45,332,344 Liabilities Current liabilities: Accounts payable and accrued expenses $1,650,451 $1,392,639 Short-term bank loans 1,400,985 1,399,075 VAT taxes payable 542,629 458,930 Income taxes payable 571,885 490,514 Other taxes payable 15,696 11,890 Dividends payable 98,538 325,417 Other current liabilities 501,851 307,934 Total current liabilities 4,782,035 4,386,399 Total liabilities 4,782,035 4,386,399 Equity Stockholders' equity: Common stock, $0.001 par value, 50,000,000 shares authorized, 25,795,902 and 17,908,912 shares issued and outstanding at December 31, 2009 and June 30, 2009, respectively 25,796 17,909 Series A convertible preferred stock, $0.001 par value, 10,000,
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