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China Jo-Jo Drugstores, Inc. Reports Fiscal Year 2014 First Quarter Earnings Results and Schedules Conference Call for August 19, 2013
Date:8/16/2013

2Total current liabilities31,486,85329,674,803Purchase option derivative liability2,94415,609Total liabilities31,489,79729,690,412COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS' EQUITYPreferred stock; $0.001 par value
,000,000 shares authorized; nil issued andoutstanding as of June 30, 2013 and March 31, 2013--Common stock; $0.001 par value; 250,000,000 shares authorized
3,609,003
shares issued and outstanding as of June 30, 2013 and March 31, 201313,60913,609Additional paid-in capital16,637,08516,609,747Statutory reserves1,309,1091,309,109Retained earnings16,307,85317,095,369Accumulated other comprehensive income3,881,4453,121,654Total stockholders' equity38,149,10138,149,488Noncontrolling interests(2,153)(1,879)Total equity38,146,94838,147,609Total liabilities and stockholders' equity$

69,636,745$

67,838,021The accompanying notes are an integral part of these condensed consolidated financial statements. CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME(UNAUDITED)For the three months ended

June 30,20132012REVENUES, NET$

15,336,519$

32,847,330COST OF GOODS SOLD11,735,35027,702,553GROSS PROFIT3,601,1695,144,777SELLING EXPENSES1,680,8421,858,225GENERAL AND ADMINISTRATIVE EXPENSES2,640,8182,846,578TOTAL OPERATING EXPENSES4,321,6604,704,803(LOSS) INCOME FROM OPERATIONS(720,491)439,974OTHER (LOSS) INCOME, NET(40,413)98,698CHANGE IN FAIR VALUE OF PURCHASE OPTION DERIVATIVE LIABILITY12,665(158)(LOSS) INCOME BEFORE INCOME TAXES(748,239)538,514PROVISION FOR INCOME TAXES39,5203,882NET (LOSS) INCOME(787,759)534,632ADD: NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST243255NET (LOSS) INCOME ATTRIBUTABLE TO CHINA JO-JO DRUGSTORES, INC.(787,516)534,887OTHER COMPREHENSIVE INCOMEForeign currency translation adjustments759,79155,270COMPREHENSIVE (LOSS) INCOME$

(27,725)$

590,157WEIGHTED AVERAGE NUMBER OF SHARES:Basic13,609,00313,557,49
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SOURCE China Jo-Jo Drugstores, Inc.
Copyright©2012 PR Newswire.
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