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Jiangbo Pharmaceuticals Reports Results for Third Quarter of Fiscal Year 2010
Date:5/17/2010

496 Financing costs - current 565,684 680,303 Total current assets 140,332,626 136,154,057 PLANT AND EQUIPMENT, net 13,437,640 13,957,397 OTHER ASSETS: Restricted investments 161,471 1,033,463 Financing costs, net of current -- 556,365 Intangible assets, net 32,852,205 17,041,181 Total other assets 33,013,676 18,631,009 Total assets $186,783,942 $168,742,463 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable $2,227,240 $6,146,497 Short term bank loans 2,200,500 2,197,500 Notes payable 11,523,285 7,325,000 Other payables 2,880,338 2,152,063 Refundable security deposits due to distributors 3,080,700 4,102,000 Other payables - related parties 951,461 238,956 Accrued liabilities 4,045,510 1,356,898 Liabilities assumed from reorganization 536,614 1,565,036 Taxes payable 4,952,356 11,248,226 Derivative Liabilities 20,074,873 -- Convertible debt, net of discount $17,083,153 as of March, 31, 2010 10,146,847 -- Total current liabilities 62,619,724 36,332,176 CONVERTIBLE DEBT, net of discount $28,493,089 as of June 30, 2009 -- 6,346,911 Total liabilities 62,619,724 42,679,087 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Convertible preferred stock
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SOURCE Jiangbo Pharmaceuticals, Inc.
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