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

outstanding) 390,480

Paid-in-capital 22,803,151

Capital contribution receivable (7,711,000)

Retained earnings 28,934,053

Statutory reserves 3,740,456

Accumulated other comprehensive

income 5,923,072

Total shareholders' equity 54,080,212

Total liabilities and

shareholders' equity $80,586,287

GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED MARCH 31, 2008 AND 2007

(UNAUDITED)

2008 2007

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income $12,863,288 $7,405,372

Loss from discontinued operations 341,743 --

Income from continued operations 13,205,031 7,405,372

Adjustments to reconcile net income

to cash provided by (used in) operating

activities:

Depreciation 375,456 253,063

Amortization of intangible assets 113,578 75,772

Amortization of debt issuance

costs 47,583 --

Amortization of debt discount 671,296 --

Allowance for bad debts (112,459)

Loss on sale of marketable

securities 19,819 --

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

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