recollection charted spherical 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.