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Tiens Biotech Group (USA) Reports Second Quarter and Six-Month Results
Date:8/19/2010

5,776,964 5,328,052 Other receivables 2,354,237 995,657 Other receivables - related parties 33,035,274 44,561,626 Employee advances 238,075 115,673 Prepaid expenses 351,905 658,193 Prepaid taxes 121,542 407,534 Total current assets 56,348,506 69,294,375 PROPERTY, PLANT AND EQUIPMENT, net 9,946,030 10,124,483 OTHER ASSETS: Construction in progress 146,343,059 125,572,621 Construction deposits 5,068,290 1,405,997 Intangible assets, net 12,764,848 12,864,295 Other assets 18,039,203 11,847,937 Total other assets 182,215,400 151,690,850 Total assets $248,509,936 $231,109,708 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $4,387,829 $5,012,157 Advances from customers - related parties 17,055,922 4,426,751 Wages and benefits payable 788,451 1,484,852 Income taxes payable 330,095 -- Contractor deposits 258,403 183,395 Contractor payables 20,942,557 18,513,216 Other payables 1,248,953 1,151,551 Other payables - related parties 1,502,767 3,326,110 Total current liabilities 46,514,977 34,098,032 NON-CURRENT LIABILITIES Deferred income 11,283,364 11,236,501 Total non current liabilities 11,283,364 11,236,501 Total liabilities 57,798,341 45,334,533 EQUITY: Shareholders' equity of the Company: Common stock, $0.001 par value, 250,000,000 shares authorized, 71,333,586 issued and outstanding, respectively 71,334 71,334 Paid-in-capital 18,194,133 18,042,189 Statutory reserves 16,465,144 13,217,217 Retained earnings 126,769,661 126,370,263 Accumulated other comprehensive income 18,880,529 18,262,123 Total shareholders' equity of the Company 180,380,801 175,963,126 Noncontrolling interest 10,330,794 9,812,049 Total equity 190,711,595 185,775,175 Total liabilities and equity $248,509,936 $231,109,708 TIENS BIOTECH GROUP (USA), INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009 (UNAUDITED) Six months ended June 30, 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $4,111,465 $19,315,168 Adjustme
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SOURCE Tiens Biotech Group (USA), Inc.
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