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Lotus Pharmaceuticals, Inc. Reports Strong 2008 Financial Results
Date:4/22/2009

Forgiveness of business and value-added taxes -- 2,160,795 Debt issuance costs (361,436) (205,379) Registration rights penalty (650) (110,000) Interest income 12,626 102,154 Interest expense (1,929,836) (2,038,735) Total Other Income (Expense) (2,279,296) (91,165) INCOME BEFORE INCOME TAXES 12,790,648 11,217,128 INCOME TAXES -- -- NET INCOME $12,790,648 $11,217,128 COMPREHENSIVE INCOME: NET INCOME 12,790,648 11,217,128 OTHER COMPREHENSIVE INCOME: Unrealized foreign currency translation gain 2,247,686 1,480,352 COMPREHENSIVE INCOME $15,038,334 $12,697,480 NET INCOME PER COMMON SHARE: Basic $0.30 $0.27 Diluted $0.27 $0.26 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 42,307,762 41,417,434 Diluted 48,054,880 43,861,106 LOTUS PHARMACEUTICALS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Year Ended December 31, 2008 2007 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $12,790,648 $11,217,128 Adjustments to reconcile net inc
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SOURCE Lotus Pharmaceuticals, Inc.
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