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SOKO Fitness & Spa Group Announces Record Financial Results for Fiscal Year; Sets Conference Call to Discuss Results
Date:9/1/2009

AS OF MAY 31, 2009 2008 (RESTATED) ASSETS Current assets: Cash & cash equivalents $ 1,907,640 $ 1,563,709 Restricted cash 7,233 -- Accounts receivable, net 110,541 682,694 Inventories 1,391,302 1,048,788 Advances to suppliers 993,084 1,467,861 Employee advance 54,783 249,900 Prepaid expense 146,959 340,993 Total Current Assets 4,611,542 5,353,945 Property, plant and equipment, net of accumulated depreciation 19,674,394 12,782,918 Other Assets Security Deposit 47,853 -- Deferred Rent 589,188 -- Deposit to suppliers 1,464,530 720,461 Investment advance 399,750 1,152,738 Goodwill 2,525,778 1,505,710 Total Other Assets 5,027,099 3,378,909 Total Assets 29,313,035 21,515,772 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term loans 2,196,795 2,547,244 Accounts payable, accrued expenses and other payable 471,457 1,020,232 Unearned revenue 1,909,755 514,965 Taxes payable 360,229 339,555 Contingent Liability 200,000 --
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SOURCE SOKO Fitness & Spa Group, Inc.
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