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CONSOLIDATED BALANCE SHEETS (In US Dollars) December 31, September 30, ASSETS 2007 2008 Current assets: (Unaudited) Cash and cash equivalents $16,250,727 $11,370,203 Short term deposits -- 44,183 Accounts receivable, net of allowance for doubtful accounts $680,784 and $706,253 12,713,705 17,906,767 Inventories, net of provision $841,518 and $959,953 7,499,768 9,587,866 Other receivables, net of provision $102,574 and $110,198 389,764 316,128 VAT recoverable 407,376 -- Advance to suppliers 904,203 2,152,244 Deferred tax asset 86,572 86,572 Amount due from related parties -- 109,021 Total current assets 38,252,115 41,572,984 Investment, net of impairment $622,194 and $622,194 877,806 877,806 Property and equipment, net 17,449,871 18,639,295 Construction in progress -- 3,782 Total assets $56,579,792 $61,093,867 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Loans $-- $4,418,327 Accounts payable 18,855,416 18,851,621 Advance from customers 464,281 723,253 Accruals and other payables 3,358,199 1,998,911 Accrued payroll and related expense 795,690 660,423 Income tax payable 428,217 429,455 Amount due to related parties 1,465,790 817,148 Amount due to stockholders 1,100,000 1,681,185 Total current liabilities 26,467,593 29,580,323 Research funding advanced 245,730 320,329 Amount due to stockholders 1,100,000 -- Total non-current liabilities 1,345,730 320,329 Total liabilities 27,813,323 29,900,652 2,609,934 Minority interest 1,475,361 Stockholders' equity: Common stock, par value $0. molecular cough crescents bolts:amalgamates travel insurance british " And they see their inheritance from the baby boomers as an America in decline. Post a comment in response: |
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