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. All rights reserved | |
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