China Shenghuo Announces Restated Results For Full Year 2007 & First Quarter 2008, Reports Results For Second & Third Qu...(res authorized 0 shares outstanding ...),Health

Date:11/20/2008

res authorized, 0 shares outstanding -- -- Common stock, $0.0001 par value, 100,000,000 shares authorized, 19,679,400 outstanding, respectively 1,968 1,968 Additional paid-in capital 6,193,927 6,193,927 Statutory reserves 147,023 147,023 Retained earnings 1,649,208 4,039,337 Accumulated other comprehensive income, foreign currency translation 1,619,716 929,643 Total Stockholders' Equity 9,611,842 11,311,898 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $32,570,389 $35,335,718 China Shenghuo Pharmaceutical Holdings, Inc. Consolidated Balance Sheets (Unaudited) September 30, December 31, 2008 2007 ASSETS: As Restated Current Assets: Cash and cash equivalents $1,080,724 $2,800,641 Accounts and notes receivable, less allowance for doubtful accounts of $6,814,980 and $3,218,661, respectively 8,542,803 10,567,672 Employee advances, less allowance for doubtful accounts of $23,884 and $729,995, respectively 10,302,878 8,249,806 Advances to suppliers 776,438 669,858 Inventory, net of reserve for obsolescence of $130,088 and $136,359, respectively 4,060,925 4,125,193 Receivable from related parties 94,461 27,555 Other current assets 17,500 159,657 Total Current Assets 24,875,729 26,600,382
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SOURCE China Shenghuo Pharmaceutical Holdings, Inc. Copyright©2008 PR Newswire. All rights reserved

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