About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. is a specialty pharmaceutical company with
rapidly growing profit that develops, manufactures, and markets treatments
for a wide range of high incidence and high mortality conditions in China,
including cardiovascular, CNS, infectious, and digestive diseases. The
Company's cost-effective, high margin business model is driven by market
demand and supported by eight scalable GMP-certified product lines covering
the major dosage forms. In addition, the Company has a broad and expanding
distribution network across 30 provinces, municipalities and autonomous
regions. The Company is registered in Delaware, USA. Hainan Helpson Bio-
pharmaceutical Co., Ltd (Helpson), located in Haikou City, Hainan Province,
China, is a wholly owned subsidiary of China Pharma Holdings, Inc. For more
information about China Pharma Holdings, Inc., please visit
http://www.chinapharmaholdings.com .
CHINA PHARMA HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
September 30, December 31,
2008 2007
(Restated)
ASSETS
Current Assets:
Cash and cash equivalents $5,838,678 $1,830,335
Trade accounts receivable, less
allowance for doubtful accounts
of $4,124,577 and
$2,440,852, respectively 31,670,231 18,572,976
Other receivables, less allowance for
Doubtful accounts of $98,151
and $43,908,respectively 189,794 413,596
Advances to suppliers 2,276,440 2,757,320
Inventory 14,542,799 14,448,771
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