Navigation Links
China Sky One Medical Completes Previously Announced Amendment to 2006 Form 10KSB
Date:11/8/2007

HARBIN, China, Nov. 8 /Xinhua-PRNewswire-FirstCall/ -- China Sky One Medical, Inc. (OTC Bulletin Board: CSKI), a manufacturer, marketer and distributor of pharmaceutical, medicinal and diagnostic products in China, today announced that it has completed the previously announced amendment to the Company's Form 10KSB for the year 2006. In working with new auditors and in completing the Form 10QSB for the three, six and nine month periods ended September 30, 2007, management determined that certain items were accounted for improperly in the year 2006.

Today's amendment does not impact financial results reported in the year 2007.

The restatement necessitates that net income for the year 2006 be adjusted to account for $3.67 million of costs that were incorrectly treated, including roughly $1.8 million of one-time costs related to the Company's 2006 recapitalization, as well as approximately $1.8 million of capitalized research and development costs which should have been charged to operations when incurred. As such, full year 2006 net income has been adjusted to $630,000 from $4.3 million.

About China Sky One Medical, Inc.

China Sky One Medical, Inc., a Nevada corporation, is a holding company whose principal operations are through its subsidiaries, which are engaged in the manufacturing, marketing and distribution of pharmaceutical, medicinal and diagnostic kit products. Through its wholly-owned subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company ("TDR") and Harbin First Bio- Engineering Company Limited ("First"), the Company's principal revenue source is the manufacture and sale of over-the- counter pharmaceutical products. http://www.skyonemedical.com.

Safe Harbor Statement

Certain of the statements made in the press release constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward- looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.

For more information, please contact:

In the United States:

Ashley Ammon MacFarlane and Bill Zima

Integrated Corporate Relations, Inc.

Tel: +1-203-682-8200 (Investor Relations)

In Asia:

Xuyang Zhang

Integrated Corporate Relations, Inc.

Tel: +86-10-8523-3087 (Investor Relations)


'/>"/>
SOURCE China Sky One Medical, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Chinas 1-child policy could backfire on its elderly
2. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
3. Expanding Prevalent Population Will Drive Dramatic Growth for the Asthma Drug Market in China
4. Bridgetech Announces Addition of the Agency for Healthcare Research and Quality as Content Provider in its Development of a Healthcare Web Portal in China
5. China Holdings Appoints Ronald Shon Chairman of Advisory Board to Its Wholly-Owned Subsidiary China Power, Inc.
6. China Bionanometer Industries Corporation Promotes New Cosmetics Product Line in China
7. China Shenghuo Pharmaceutical Holdings, Inc. Begins Full-Scale Launch of 12Ways(R) Chinese Herbal Skin Care Product Line
8. Statement by Mike Leavitt Secretary of Health and Human Services on the United States-China Bilateral Meetings on Food and Drug Safety
9. Supplier Assessments to Help Buyers Identify Reliable China Exporters
10. Study shows lead-based paint problem isnt isolated to China
11. Bracco Announces Initiative to Save Children in China at 2007 Annual Meeting of CGI
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... Ranch, Colo. (PRWEB) , ... February 12, 2016 , ... ... over the past 35 years. A president has access to health and wellness resources ... of the free world, no single individual has a schedule as frenetic as the ...
(Date:2/12/2016)... ... , ... Yisrayl Hawkins, Pastor and Overseer at The House of Yahweh in ... are the real facts surrounding all those Bible stories. For generations families have gathered ... and Yisrayl says there is more to these than just mere “stories”. , ...
(Date:2/12/2016)... Phoenix, AZ (PRWEB) , ... February 12, 2016 , ... ... Health Arizona General Hospital Emergency Room –Mesa. The new facility is licensed under ... Valley. , “Dr. Bingham is an excellent leader and will ensure our new ...
(Date:2/11/2016)... (PRWEB) , ... February 11, 2016 , ... ... (DMPG) will use the action analytics leader’s population health solutions, MDinsight® and ... clinical support to the Atlanta-area healthcare system. Details of the contract were not ...
(Date:2/11/2016)... ... February 11, 2016 , ... Florida Hospital presents Heart ... on the St. Louis Blues at the Amalie Arena. The puck drops at 6:00pm, ... heart exhibit, the MEGA Heart, prior to the game. The MEGA Heart will be ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... BUDAPEST , Ungarn, February 12, 2016 ... ein Medizintechnikunternehmen, das sich auf den ungedeckten ... gab heute positive Ergebnisse seines klinischen Forschungsprogramms ... und Asthma-Patienten beschäftigt, ergab Verbesserungen ihrer respiratorischen ... Indiso ltd , ein Medizintechnikunternehmen, das ...
(Date:2/11/2016)... , Feb. 11, 2016 Stem cells are ... characterized by self-renewal and the capacity to differentiate into ... new discovery, as the first mouse embryonic stem cells ... not until 1995 that the first culturing of embryonic ... cells were not produced until 2006 As a result ...
(Date:2/11/2016)... , Feb. 11, 2016  Walgreens has committed to ... states and Washington, D.C. as part ... that was commended by shareholder advocacy organization As You Sow. ... You Sow. "Many people hold on to unneeded drugs because ... have tragic consequences." --> Conrad MacKerron , ...
Breaking Medicine Technology: