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

er share -- -- -- 10,000 Common stock issued for interest payment @ $8 per share -- -- -- 991,053 Conversion of convertible debt to stock -- -- -- 7,610,000 Reclassification of derivative liabilities to APIC due to conversion of convertible debt -- -- -- 6,287,408 Stock based compensation -- -- -- 135,104 Net income -- 22,664,082 -- 22,664,082 Change in fair value on restricted marketable equity securities -- -- 88,535 88,535 Foreign currency translation gain -- -- 197,393 197,393 BALANCE, March 31, 2010 (Unaudited) 3,253,878 85,611,586 6,809,530 124,164,218 JIANGBO PHARMACEUTICALS, INC. AND SUBSIDIARIES (FORMERLY KNOWN AS GENESIS PHARMACEUTICAL ENTERPRISES, INC.) CONSOLIDATED STATEMENTS OF CASH FLOWS FOR NINE MONTHS ENDED MARCH 31, 2010 AND 2009 (Unaudited) 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 22,664,082 $ 17,388,546 Loss from discontinued operations 200,769 1,693,830 Income from continuing operations 22,864,851 19,082,376 Adjustments to reconcile net income to net cash, net of acquisition, provided by operating activities: Depreciation 615,565 464,094 Amortization of intangible assets 1,194,331 37
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SOURCE Jiangbo Pharmaceuticals, Inc.
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