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Lotus Pharmaceuticals Announces Second Quarter Fiscal 2011 Financial Results
Date:8/15/2011

Accounts receivable

4,877,7451,973,150Inventories

895,176634,583Prepaid expenses and other current assets

539,847593,759Total Current Assets

7,199,2134,541,464PROPERTY AND EQUIPMENT, net

47,248,48439,337,935OTHER ASSETSLand use right held for development or sale

29,905,39629,236,891Deposits and Installments on intangible assets

9,746,2879,528,419Land use rights, net

13,066,53012,932,421Other intangible assets, net

7,327,6347,607,485Total Assets

$114,493,544$103,184,615LIABILITIES AND SHAREHOLDERS' EQUITYCURRENT LIABILITIES:Accounts payable

$20,111$37,829Other payables and accrued liabilities

802,4313,441,466Taxes payable

7,321,7832,024,565Unearned revenue

534,231504,442Dividend payable

3,308-Due to related parties

2,186,5962,042,376Total Current Liabilities

10,868,4608,050,678LONG-TERM LIABILITIES:Due to related parties

1,014,586869,067Notes payable - related parties

5,361,6845,241,829Total Liabilities

17,244,73014,161,574COMMITMENTS AND CONTIGENCIESSTOCKHOLDERS' EQUITY:Preferred stock ($.001 par value; 10,000,000 shares authorized;9,824 and 607,107 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively)

620607Common stock ($.001 par value; 100,000,000 shares authorized;27,747,131 and 26,763,485  shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively)

27,74726,763Additional paid-in capital

23,785,66521,679,147Retained earnings

57,919,58453,925,101Statutory reserves

6,240,2026,240,202Accumulated other comprehensive income

9,274,9967,151,221Total stockholders' Equity

97,248,81489,023,041Total Liabilities and Stockholders' Equity

$114,493,544$103,184,615LOTUS PHARMACEUTICALS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME(UNAUDITED)For the Three Months 
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SOURCE Lotus Pharmaceuticals, Inc.
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