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Benda Pharmaceutical Reports Fourth Quarter and Full Year 2007 Financial Results
Date:3/31/2008

1,952,348 701,339

Prepaid expenses and deposits 933,299 372,548

Total current assets 16,277,715 14,411,124

Due from related parties 2,630,019 1,976,815

Property and equipments, net 26,275,871 13,673,067

Intangible assets, net 6,359,000 1,501,483

Goodwill 7,395,752 --

Restricted cash 3,957,624 --

Other assets 1,710,972 --

Debt issue costs 327,945 --

Total Assets $64,934,898 $31,562,489

Liabilities & Shareholders' Equity

Current Liabilities

Bank indebtedness $874,490 $--

Bank loans payable (current portion) 2,867,004 256,492

Long-term debt payable (current

portion) 1,787,239 --

Accounts payable and accrued

liabilities 4,665,984 1,823,030

Commercial notes payable 5,118,758 --

Taxes payable 1,279,385 226,931

Acquisition price payable 1,333,246 --

Wages payable 664,786 145,903

Deferred revenues -- 1,732

Total current liabilities 18,590,892 2,454,088

Long-term debt payable (long term

portion) 425,001 --

Long-term convertible promissory

notes 2,875,075 --

Due to related parties (Long-term) 3,193,618 3,034,365

Total li
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SOURCE Benda Pharmaceutical, Inc.
Copyright©2008 PR Newswire.
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