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Benda Pharmaceutical Reports First Quarter 2008 Financial Results
Date:5/21/2008

Commercial notes payable 8,187,194 5,118,758

Taxes payable 797,940 1,279,385

Acquisition price payable 1,388,825 1,333,246

Wages payable 848,922 664,786

Total current liabilities 22,570,328 18,590,892

Long term debt payable (long term

portion) 442,718 425,001

Long-term convertible promissory

notes 3,816,197 2,875,075

Due to related parties (Long-term) 3,284,540 3,193,618

Total liabilities 30,113,783 25,084,586

Minority interest 5,697,658 5,453,622

Redeemable common stock, 2,049,560

shares at $3.6 per share 7,376,366 7,376,366

Shareholders' Equity

Preferred stock, $0.001 par value;

5,000,000 shares authorized;

None issued and outstanding -- --

Common stock, $0.001 par value;

150,000,000 shares authorized;

100,803,509 shares issued and

outstanding as of 3/31/2008;

100,170,071 shares issued and

outstanding as of 12/31/2007 100,803 100,170

Additional paid in capital 21,853,508 21,547,929

Retained earnings (unrestricted) (2,987,195) (833,089)

Statutory surplus reserve fund 2,310,681 2,310,681

Accumulative other comprehensive

income 5,250,092 3,390,774

Shares issuable for acquisition and

services 503,860 503,860

Total Shareholders' Equity 27,031,749 27,020,325

Total Liabilities & Shareholders'


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SOURCE Benda Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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