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China Pharma Holdings, Inc. Reports Record 2008 Year End Financial Results and Corporate Updates
Date:3/17/2009

2008 2007 ASSETS (Restated) Current Assets: Cash and cash equivalents $6,927,149 $1,830,335 Trade accounts receivable, less allowance for doubtful accounts of $4,474,175 and $2,440,852, respectively 36,008,095 18,572,976 Other receivables, less allowance for doubtful accounts of $54,242 and $43,908, respectively 163,957 413,596 Advances to suppliers 3,031,694 2,757,320 Inventory 13,139,750 14,448,771 Deferred tax assets 461,596 187,509 Total Current Assets 59,732,241 38,210,507 Non-current Assets: Property and equipment, net of accumulated depreciation of $1,483,267 and $1,003,802, respectively 6,738,368 2,625,216 Intangible assets, net of accumulated amortization of $547,567 and $221,715, respectively 6,162,549 2,063,252 Advances for purchases of intangible assets and property and equipment 2,838,679 807,345 Total Non-current Assets 15,739,596 5,495,813 TOTAL ASSETS $75,471,837 $43,706,320 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Trade accounts payable $1,049,268 $297,299 Accrued expenses 56,075 261,301 Accrued taxes payable 1,170,003 311,009 Other payables 42,813 86,161 Advances from customers 693,178 261,583 Other payab
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SOURCE China Pharma Holdings, Inc.
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