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China Medicine Announces First Quarter 2009 Results
Date:5/13/2009

Paid-in capital 12,470,726 13,011,012 Statutory reserves 3,178,861 3,178,861 Retained earnings 22,822,647 22,146,572 Accumulated other comprehensive income 4,369,586 4,428,294 Total shareholders' equity 42,843,342 42,766,261 NONCONTROLLING INTEREST 753,259 835,532 Total shareholders' equity 43,596,601 43,601,793 Total liabilities and shareholders' equity $45,554,983 $44,681,316 CHINA MEDICINE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008 (Unaudited) 2009 2008 CASH FLOWS FROM OPERATING ACTIVITIES: Net income attributable to China Medicine Corporation $550,082 $1,175,813 Net income attributable to noncontrolling interest (81,140) (27,477) Consolidated net income 468,942 1,148,336 Adjustments to reconcile net income to cash used in operating activities: Depreciation and amortization 216,195 96,744 Loss on sale of assets 5,934 -- Stock option and warrant compensation 1,249 26,157 Amortization of deferred expenses -- 86,431 Change in fair value of warrant liabilities 758,689 -- Change in operating assets and liabilities Notes receivables (396,135) (1,646,4
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SOURCE China Medicine Corporation
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