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China-Biotics, Inc. Reports Record Quarterly Net Sales for the Third quarter of Fiscal Year 2011

port on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward- looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.Contact:Travis Cai
Chief Financial Officer
China-Biotics, Inc.
traviscai@chn-biotics.comShiwei Yin/Dixon Chen
2010March 31,
2010ASSETSCurrent assetsCash and cash equivalents$


155,579,371Cash in transit47,027Accounts receivable, net39,371,76521,008,664Other receivables1,078,497791,907Inventories1,524,0391,100,707Amount due from a director-2,367,892Travel advances30,000-Prepayment1,531,8541,104,149Total current assets$


181,952,690Land use right3,946,1121,797,082Property, plant and equipment, net46,024,90848,886,077Construction in Progress17,066,410-Buy-back shares (Treasury stock)2,739,634-Deferred tax assets298,833Total assets$


232,934,682LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilitiesAccounts payable$


5,850,988Tax payables32,910,77828,989,337Other payables and accruals2,876,4561,815,487Convertible note, net of discount of $[·] and $2,853,094 as of December 31, 2010 and March 31, 2010, respectively-22,146,906Embedded derivative

SOURCE China-Biotics, Inc.
Copyright©2010 PR Newswire.
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