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Dehaier Medical Systems Q2 Revenue Up 46% to $4.83 Million; Net Income Up 59% to 1.14 Million; EPS 0.27
Date:8/16/2010

s of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact: Investor contact: Hawk Associates Julie Marshall or Grace Huang Tel: +1-305-451-1888 Email: dehaier@hawkassociates.com DEHAIER MEDICAL SYSTEMS LIMITED AND AFFILIATE CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2010 2009 US$ US$ (unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents 6,540,009 1,151,721 Accounts receivable, less allowance for doubtful accounts of $77,783 and $102,939 8,867,002 6,891,291 Other receivables 2,765,248 1,499,111 Prepayment and other current assets 4,611,990 1,691,387 Inventory, net 3,165,490 2,326,126 Total Current Assets 25,949,739 13,559,636 Property and equipment, net 2,803,429 2,862,625 Tax receivable 1,926,290 1,362,372 Total assets 30,679,458 17,784,633 LIABILITIES AND SHAREHOLDERS' EQUITY Short-term borrowings 1,474,610 1,464,770 Accounts payable 16,675 93,770 Advances from customers 92,606 174,253 Accrued expenses and other current liabilities 263,076 336,412 Tax payable 6,111,966 4,993,387 Warranty obligation 179,956 178,755 Warrants Liability 251,606 -- Due to officer -- 3,861 Total current liabilities 8,390,495 7,245,208 Commitments and contingency -- -- Shareholders'
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