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Weikang Bio-Technology Announces Fiscal 2010 Financial Results

80,019Account receivable652,167-Advances to suppliers and other receivables241,34226,079Inventory388,535285,395Deferred compensation902,226-Total current assets52,548,08211,691,493NONCURRENT ASSETSDeferred compensation-noncurrent16,077-Property and equipment, net9,606,26910,162,946Construction in progress683,830-Intangible assets15,754,66615,558,731Total noncurrent assets26,060,84225,721,677TOTAL ASSETS$
2,668Unearned revenue528,48511,716Taxes payable6,269,4222,247,410Accrued expenses1,376,154-Due to related party25,669-Total current liabilities8,213,9342,271,794ADVANCE FROM OFFICER-650,000OTHER LIABILITY-7,620,321CONTINGENCIES DEFERRED TAX LIABILITY3,464,8153,450,005STOCKHOLDERS' EQUITYCommon stock,  $.00001 par value;  authorized shares ,000,000;  issued and outstanding shares 29,963,551 and 25,486,800 at December 31, 2010 and 2009, respectively

300255Additional paid in capital17,530,601139,245Statutory reserve2,431,9271,069,507Accumulated other comprehensive income2,524,566844,526Retained earnings 44,442,78121,367,517Total stockholders' equity 66,930,17523,421,050TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

5,616,802Adjustments to reconcile net income to net cashprovided by operating activities:Depreciation and amortization1,193,0451,176,909Stock compensation 3,843,732139,500Stock option35,132-Changes in deferred tax(90,241)(104,306)(Increase) decrease in current assets:Accounts receivable(638,024)-Advances to suppliers and other receivables(214,767)(1,903)Inventory (92,239)(133,257)Increase (decrease) in current liabilities:Accounts pay

SOURCE Weikang Bio-Technology Group Co., Inc.
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