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Dehaier Medical Announces Fourth Quarter and Full-Year 2010 Financial Results
Date:3/7/2011

net

3,488,9472,862,625Tax receivable

3,518,9191,362,372Total Assets 36,882,94017,784,633LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES:Short-term borrowings

1,514,6201,464,770Accounts payable  

29,31893,770Advances from customers

269,189174,253Accrued expenses and other current liabilities

330,601336,412Tax payable

8,327,7084,993,387Warranty obligation

301,464178,755Warrants liability

318,109-Due to officer

2,3583,861Total Current Liabilities 11,093,3677,245,208Commitments and ContingencyShareholders' equity ----Common stock, $0.002731 par value, 18,307,038 shares authorized, 4,500,000 and 3,000,000 shares issued and outstanding at December 31, 2010 and 2009, respectively

12,2908,193Additional paid in capital

13,137,0853,196,974Retained earnings

9,838,4525,298,742Accumulated other comprehensive income

1,474,455773,127Total Dehaier Medical Systems Limited shareholders' equity 24,462,2829,277,036Non-controlling interest

1,327,2911,262,389Total shareholders' equity 25,789,57310,539,425Total liabilities and shareholders' equity 36,882,94017,784,633December 31, 20102009US$US$ASSETSCURRENT ASSETS:Cash and cash equivalents

5,923,3861,151,721Accounts receivable
-less allowance for doubtful accounts of $ 87,555 and $102,939

9,112,0776,891,291Other receivables

3,164,4231,499,111Prepayment and other current assets

5,300,8251,691,387Inventories, net

6,374,3632,326,126Tax receivable

3,518,9191,362,372Total Current Assets 33,393,99314,922,008Property and equipment, net

3,488,9472,862,625Total Assets 36,882,94017,784,633LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES:Short-term borrowings

1,514,6201,464,770Accounts payable  

29,31893,770Advances from customers

269,189
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SOURCE Dehaier Medical Systems Ltd.
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