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141,179
139,226Total assets$
127,144,204
$
109,896,164LIABILITIES AND SHAREHOLDERS' EQUITYCurrent LiabilitiesAccounts payable
$
2,360,318
$
2,098,256Tax payable9,010,5965,976,417Accrued employee benefits2,269,3912,131,565Warrant Liabilities
18,445
23,443Total liabilities
13,658,750
10,229,681Shareholders' equityPreferred stock (no par value, 1,000,000 shares authorized; none issued and outstanding as of January 31,2012 and October 31, 2011, respectively)--Common stock ($0.001 par value, 100,000,000 shares authorized; 37,239,536 issued and outstanding as of January 31,2012 and October 31, 2011, respectively)37,24037,240Additional paid-in capital7,789,7267,763,987Common stock warrants496,732496,732Reserves3,372,6973,372,697Accumulated other comprehensive income10,106,6948,620,695Retained earnings
91,682,365
79,375,132Total shareholders' equity
113,485,454
99,666,483Total liabilities and shareholders' equity$
127,144,204
$
109,896,164CHINA BOTANIC PHARMACEUTICAL INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOMEFor the three months ended January 31,20122011(Unaudited)(Unaudited)Sales, net
$
28,140,091
$
22,625,060Cost of goods sold
10,815,503
8,807,787Gross profit
17,324,588
13,817,27361.6%61.1%Operating and administrative expenses:Sales and marketing1,590,8901,329,179General and administrative1,046,633659,882Research and development
236,415
180,674Total operating expenses
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