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Lotus Pharmaceuticals, Inc. Announces Fourth Quarter and Fiscal Year 2007 Results

$ --

Accounts payable and accrued

expenses 764,491 705,147

VAT and service taxes payable 572,200 2,047,851

Advances from customers 34,531 231,340

Unearned revenue 530,063 426,358

Due to related parties 323,178 925,484

Total current liabilities 4,786,108 4,336,180


Due to related parties 738,300 863,447

Notes payable - related parties 4,738,508 4,729,880

Total Liabilities 10,262,916 9,929,507

Stockholders' Equity

Common stock ($.001 par value;

200,000,000 shares authorized;

41,794,200 and 41,280,000 shares

issued and outstanding, respectively) 41,794 41,280

Additional paid-in capital 8,095,848 5,965,323

Statutory reserves 2,161,505 769,930

Retained earnings 14,355,913 4,530,360

Other comprehensive gain - 1,981,557 501,205

cumulative foreign currency

translation adjustment

Total stockholders' equity 26,636,617 11,808,098

Total Liabilities and Shareholders'

Equity $ 36,899,533 $ 21,737,065



For the Year Ended

December 31,

2007 2006


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

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