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China Medicine Announces Strong Third Quarter 2009 Results
Date:11/16/2009

September 30, 2009 and December 31, 2008, respectively 1,531 1,522 Paid-in capital 12,750,025 13,011,012 Statutory reserves 3,178,861 3,178,861 Retained earnings 26,084,749 22,146,572 Accumulated other comprehensive income 4,432,020 4,428,294 Total shareholders' equity 46,447,186 42,766,261 NONCONTROLLING INTERESTS 592,396 835,532 Total equity 47,039,582 43,601,793 Total liabilities and equity $53,044,395 $44,681,316 CHINA MEDICINE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Nine months ended September 30, 2009 2008 CASH FLOWS FROM OPERATING ACTIVITIES: Net income attributable to China Medicine Corporation $3,812,184 $5,607,177 Net loss attributable to noncontrolling interests (242,953) (85,087) Net income 3,569,231 5,522,090 Adjustments to reconcile net income to cash provided by (used in) operating activities: Depreciation and amortization 663,645 289,935 Loss on sale of assets 27,102 -- Stock option and warrant compensation 101,336 83,467 Amortization of deferred expenses -- 265,971 Change in fair value of warrant liabilities 2,113,589
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SOURCE China Medicine Corporation
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