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Tianyin Pharmaceutical Co., Inc. Announces Second Quarter 2008 Financial Results
Date:2/14/2008

FINANCIAL TABLES TO FOLLOW --

PART I - FINANCIAL INFORMATION

BALANCE SHEET

AS OF DECEMBER 31, 2007

(UNAUDITED)

ASSETS

CURRENT ASSETS

Cash and cash equivalents $1,359,417

Accounts receivable, net of allowance of $32,860 3,260,179

Inventory 1,632,624

Advance payment to vendors 1,068,009

Other receivables 781,751

Total Current Assets 8,101,980

PROPERTY AND EQUIPMENT, NET 4,729,442

INTANGIBLES, NET 6,056,407

Total Assets $18,887,829

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts payable and accrued expenses $991,250

Short-term bank loans 1,309,305

Due to shareholders 145,517

VAT taxes payable 202,313

Income tax payable 296,912

Payroll taxes payable

22,254

Other payables 194,998

Total Current Liabilities 3,162,549

STOCKHOLDERS' EQUITY

Capital contribution 363,000

Additional paid-in capital 4,347,508

Statutory reserve
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SOURCE Tianyin Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
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