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

ued for Adjustments for 1:40 reverse split -- -- -- -- Cancellation of common stock for settlement @ $8 per share -- -- -- (20,000) Common stock issued for service @ $8 per share -- -- -- 20,000 Common stock issued for service @ $9 per share -- -- -- 22,500 Common stock issued to Hongrui @ $4.035 per share -- -- -- 2,597,131 Conversion of convertible debt to stock -- -- -- 160,000 Stock based compensation -- -- -- 64,315 Net income -- 28,880,264 -- 28,880,264 Adjustment to statutory reserve -- -- -- -- Change in fair value on restricted marketable equity securities -- -- (1,514,230) (1,514,230) Foreign currency translation gain -- -- 336,927 336,927 BALANCE, June 30, 2009 $3,253,878 $67,888,667 $6,523,602 $126,063,376 Cumulative effect of reclassification of warrants -- (4,941,163) -- (39,912,733) BALANCE, July 1, 2009 as adjusted 3,253,878 62,947,504 6,523,602 86,150,643 Common stock issued for payment for other payable- related party @ $8.75 per share -- -- -- 20,000 Common stock issued for services @ $8.75 per share -- -- -- 10,000 Common stock issued for services @ $9.91 p
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SOURCE Jiangbo Pharmaceuticals, Inc.
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