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Genesis Pharmaceuticals Reports Results for the Third Quarter of Fiscal Year 2008
Date:5/15/2008

85,680

Advances to suppliers 894,741

Other assets 2,271

Total current assets 56,594,161

PLANT AND EQUIPMENT, net 11,081,056

OTHER ASSETS:

Restricted marketable securities 2,826,413

Debt issuance cost, net 306,825

Intangible assets, net 9,777,832

Total other assets 12,911,070

Total assets $80,586,287

L I A B I L I T I E S A N D S

H A R E H O L D E R S' E Q U I T Y

CURRENT LIABILITIES:

Accounts payable $3,448,086

Short term bank loans 2,713,200

Notes payable 3,488,604

Other payables 3,736,397

Other payables - related parties 28,560

Accrued liabilities 545,885

Liabilities assumed from

reorganization 1,352,997

Taxes payable 10,521,050

Total current liabilities 25,834,779

CONVERTIBLE DEBT, net of discount

$4,328,704 as of March 31, 2008 671,296

COMMITMENTS AND CONTINGENCIES --

SHAREHOLDERS' EQUITY:

Common Stock ($0.001 par value,

600,000,000 shares authorized,

390,478,760 shares issued and


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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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