Date:8/11/2011

utstanding43,454,00843,497,63943,429,41943,550,300CHINA PHARMA HOLDINGS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited)June 30,December 31,20112010ASSETSCurrent Assets:Cash and cash equivalents$
4,687,657$
3,692,086Banker's acceptances237,415-Trade accounts receivable, less allowance for doubtfulaccounts of $3,276,642 and $3,317,017, respectively66,144,99461,947,737Other receivables, less allowance for doubtfulaccounts of $22,337 and $15,669, respectively82,24065,019Advances to suppliers5,322,1355,311,896Inventory23,977,44220,388,935Deferred tax assets524,290528,684Total Current Assets100,976,17391,934,357Advances for purchases of property and equipment and intangible assets5,409,0964,395,331Property and equipment, net of accumulated depreciation of$3,181,610 and $2,695,840, respectively6,265,7416,372,487Intangible assets, net of accumulated amortization of$2,872,652 and $2,342,081, respectively30,788,18729,048,766TOTAL ASSETS$  143,439,197$  131,750,941LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Trade accounts payable$
2,767,403$
4,937,781Accrued expenses82,13098,206Accrued taxes payable3,355,6742,386,019Other payables368,41292,077Advances from customers1,392,6991,208,988Other payables - related parties491,563303,644Short-term notes payable3,868,1733,781,119Total Current Liabilities12,326,05412,807,834Long-term deferred tax liability73,32371,673Derivative warrant liability-934,260Total Liabilities12,399,37713,813,767Stockholders' Equity:Preferred stock, $0.001 par value; 5,000,000 shares authorized;no shares issued or outstanding--Common stock, $0.001 par value; 95,000,000 shares authorized;43,529,557 shares and 43,404,557 shares outstanding, respectively43,53043,405Additional paid-in capital23,334,31623,252,476Retained earnings95,189,71685,017,024Accumulated other comprehensive income12,472,2589,624,269Total Stockholders' Equity131,039,820117,937,174TOTAL LIABILITIES AND STOCKHOLDERS
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SOURCE China Pharma Holdings, Inc. Copyright©2010 PR Newswire. All rights reserved

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