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:2/27/2017)... ... February 27, 2017 , ... This webinar , sponsored ... a tool to characterize particle size distributions in the field of geoscience and ... novel scientific findings. It describes methods of optimized and standardized sample collection, preparation ...
(Date:2/27/2017)... (PRWEB) , ... February 27, 2017 , ... ... hair transplantation therapy, is proud to announce a new informational post on robotic ... procedures. Follicular Unit Extraction (FUE) hair transplant and Follicular Unit Transplantation (FUT) can ...
(Date:2/26/2017)... ... 2017 , ... This is an extension of airmid’s scope ... ISO/IEC 17025:2005 INAB accredited for Der p 1 (house dust mite allergen) & ... standard that sets out requirements for the technical competence of testing and calibration ...
(Date:2/26/2017)... ... February 26, 2017 , ... ODH, Inc.™ announced ... February 27-28 at the Sheraton Pentagon City Hotel in Arlington, VA. ODH’s director of ... use behavioral health analytics to improve Medicaid population health management. , ODH will also ...
(Date:2/24/2017)... , ... February 24, 2017 , ... ... on tooth replacement options at his office, Antoine Dental Center. Currently, patients can ... $18,499. Some restrictions may apply, but patients can learn more about these offers ...
Breaking Medicine News(10 mins):
(Date:2/27/2017)... , February 27, 2017 A recent research ... medical marijuana market alone is expected to reach a value of ... along with 28 states have legalized marijuana for medical ... Florida , North Dakota , ... were approved to use the drug in medical applications such as ...
(Date:2/27/2017)... 2017 The Dutch secure mobile ... use at the security level RESTRICTED. The solution thus meets ... for the communication of classified information. ... Sectra and Samsung have a ... smartphone solution. Sectra Tiger/R is developed by Sectra under guidance ...
(Date:2/24/2017)... -- Research and Markets has announced the addition of the ... 2025" report to their offering. ... The Global Empty Capsules Market is poised to grow at ... $2.9 billion by 2025. This industry report analyzes the ... well as regional levels presented in the research scope. The study provides ...
Breaking Medicine Technology: