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Dehaier Medical Announces First Quarter 2011 Financial Results
Date:5/4/2011

Investor Relations Manager

+86-10-5166-0080 ext 169

liuanan@dehaier.com.cnDEHAIER MEDICAL SYSTEMS LIMITED AND AFFILIATECONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED)March 31,
2011December 31,
2010US$US$ASSETSCURRENT ASSETS:Cash and cash equivalents3,372,6735,923,386Accounts receivable-less allowance for doubtful accounts of $88,273 and $87,555 at March 31, 2011 and December 31, 2010, respectively9,864,9749,112,077Other receivables2,996,7163,164,423Prepayment and other current assets8,185,2585,300,825Inventories, net5,890,3346,374,363Tax receivable3,588,0883,518,919Total Current Assets33,898,04333,393,993Property and equipment, net3,416,4573,488,947Total Assets37,314,50036,882,940LIABILITIES AND SHAREHOLDERS' EQUITYCURRENT LIABILITIES:Short-term borrowings916,2241,514,620Accounts payable145,93529,318Advances from customers294,437269,189Accrued expenses and other current liabilities313,256330,601Tax payable8,775,3268,327,708Warranty obligation303,936301,464Due to officer-2,358Total Current Liabilities10,749,11410,775,258OTHER LIABILITIESWarrants liability308,583318,109Total Liabilities11,057,69711,093,367Commitments and ContingencyShareholders' equityCommon stock, $0.002731 par value, 18,307,038 shares authorized, 4,510,000 and 4,500,000 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively12,31712,290Additional paid in capital13,196,35813,137,085Retained earnings10,043,8669,838,452Accumulated other comprehensive income1,661,7351,474,455Total Dehaier Medical Systems Limited shareholders' equity24,914,27624,462,282Non-controlling interest1,342,5271,327,291Total shareholders' equity26,256,80325,789,573Total liabilities and shareholders' equity37,314,50036,882,940DEHAIER MEDICAL SYSTEMS LIMITED AND AFFILIATECONDENSED CONSOLIDATED STATEMENTS OF OPERATI
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