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Tiens Biotech Group (USA) Reports Second Quarter and Six-Month Results

1,373,096 1,426,271

Amortization 140,911 117,830

Interest income (92,523) (935,932)

(Gain) on sale of assets (8,554) --

(Increase) decrease in assets:

Accounts receivable, trade -

related parties (15,693,689) (4,062,388)

Accounts receivable, trade -

third parties 22,722 --

Other receivables 498,556 2,239,427

Other receivables - related

parties (526,327) (4,120,698)

Inventories 190,894 1,628,894

Employee advances (185,415) (49,889)

Prepaid expense 365,778 406,509

Increase (decrease) in liabilities:

Accounts payable 1,223,358 (648,583)

Advances from customers - related

parties 663,444 (67,035)

Wages and benefits payable (422,254) (289,033)

Other taxes payable 1,205,680 (40,345)

Other payables (67,118) (83,390)

Other payables - related parties 16,388 (299,389)

Net cash provided by operating

activities (1,119,756) 9,858,034


Repayment from (loans to) related

parties 2,133,222 (4,689,017)

Collections from loans to local

government 450,197 --

Acquisition of intangible asset

SOURCE Tiens Biotech Group (USA), Inc.
Copyright©2008 PR Newswire.
All rights reserved

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