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Global Pharm Holdings Group Announces First Quarter 2011 Financial Results
Date:5/16/2011

urrently available to, our management as well as estimates and assumptions made by our management. Such statements reflect the current view of our management with respect to future events and are subject to risks, uncertainties, assumptions and other factors as they relate to our industry, our operations and results of operations, plans for future facilities, capital-expenditure plans, and any businesses that we may acquire. Although we believe that the expectations reflected in the forward looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the U.S. federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results.

–FINANCIAL TABLES FOLLOW—GLOBAL PHARM HOLDINGS GROUP, INC.CONDENSED CONSOLIDATED BALANCE SHEETSASSETSMarch 31, 2011(Unaudited)December 31, 2010Current assets:Cash and cash equivalents

$8,905,768

$4,271,498Accounts receivable

23,127,696

19,771,619Inventories

17,737,211

16,058,760Restricted cash

369,422

1,538,251Other current assets

949,813

1,326,660Total current assets

51,089,910

42,966,788Property, plant and equipment, net

238,795

210,665Total assets

$51,328,705$43,177,453LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Short term loans

$610,677

$1,972,150Bank acceptance

260,108

21,212Accounts payable and accrued expenses

24,752,556

20,944,923Income and other taxes payable

1,447,207

1,728,499Due to related party

1,189,421

882,505Total current liabilities

28,259,969

25,549,289Stockholders' equity:Common stock, par value, $ 0.001 per share, 100,000,000 shares

authorized, 26,000,000 issued and outstanding.

26,000

26,000Additional
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SOURCE Global Pharm Holdings Group, Inc.
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