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Jiangbo Pharmaceuticals Reports Results for the Second Quarter of its Fiscal Year 2010
Date:2/22/2010

5,661,403 $168,742,463 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $2,875,667 $6,146,497 Short term bank loans -- 2,197,500 Notes payable 14,545,305 7,325,000 Other payables 2,342,231 2,152,063 Refundable security deposits due to distributors 4,107,600 4,102,000 Other payables - related parties 332,689 238,956 Accrued liabilities 368,578 1,356,898 Liabilities assumed from reorganization 525,739 1,565,036 Taxes payable 3,608,665 11,248,226 Total current liabilities 28,706,474 36,332,176 OTHER LIABILITIES: Derivative liabilities 33,996,855 -- Convertible debt, net of discount $20,945,255 and $28,493,089 as of December 31, 2009 and June 30, 2009, respectively 8,694,745 6,346,911 Total other liabilities 42,691,600 6,346,911 Total liabilities 71,398,074 42,679,087 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Convertible preferred stock Series A ($0.001 par value; 0 shares issued and outstanding as of December 31, 2009 and June 30, 2009, respectively -- -- Common stock ($0.001 par value, 22,500,000 and 15,000,000 shares authorized, 11,169,546 and 10,435,099 shares issued and outstanding as of December 31, 2009 and June 30, 2009, respectively) 11,170 10,435 Additional paid-in capital 23,80
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SOURCE Jiangbo Pharmaceuticals, Inc.
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