Navigation Links
TPI Discusses Non-Cash Non-Operational Financial Impact from Warrants
Date:6/17/2011

CHENGDU, China, June 17, 2011 /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc. (NYSE Amex: TPI, the "Company"), a pharmaceutical company that specializes in patented biopharmaceutical medicine, modernized traditional Chinese medicine, branded generics and active pharmaceutical ingredients (API) today discussed the non-cash, non-operational financial impact from the warrants issued in January 2008 under the ASC 815-40-15 (formerly EITF 07-05).

In the financial report of Third quarter fiscal year 2011 ending March 31, 2011, the Company has disclosed that under ASC 815-40-15, the Company's accounting treatment of the Series A and B warrants from July 1, 2009 until December 31, 2010 is subject to revisions. Due to the presence of certain anti-dilutive (down round protection) clauses in both warrants during the above period, these financial instruments have been re-categorized as liabilities while they were previously treated as equity.

On January 14, 2011, these anti-dilutive clauses in both series of warrants were removed therefore the warrants were re-categorized as equity in the third quarter of fiscal year 2011 while the accounting issues related to the warrants ceased to exist.

Based on the warrants' exercise data and weighted valuation, the Company has calculated the non-cash impact for the fiscal year 2010 and the first two quarters of fiscal year 2011. The analysis indicated that

  1. The non-cash impact from the warrants for fiscal year 2010 ending June 30, 2010 was a loss of ($0.16) million, or (1.07%) to pretax net income of $14.7 million
  2. The non-cash impact from the warrants for the first two quarters of fiscal year 2011 was a gain of $1.28 million, or 12.9% to net income for the first two quarters of fiscal year 2011 of $9.9 million.

Management and the Board of Directors of the Company discussed this matter with the Company's principal accountants and decided to amend the Company's Form 10-Qs for the quarters ended September 30, 2010, December 31, 2010 and March 31, 2011 reporting periods including the comparative prior year period in these filings to reflect the non-cash, non-operational financial impact from the reclassification of the Warrants. The Company will also make corresponding revisions to its financial statements for the fiscal year ended June 30, 2010 in the Form 10-K for the fiscal year ended June 30, 2011.

About TPIHeadquartered at Chengdu, China, TPI is a pharmaceutical company that specializes in the development, manufacturing, marketing and sales of patented biopharmaceutical, modernized traditional Chinese medicines, branded generics and active pharmaceutical ingredients (API). TPI currently manufactures a comprehensive portfolio of 58 products, 24 of which are listed in the highly selective national medicine reimbursement list, 7 are included in the essential drug list of China. TPI's pipeline targets various high incidence healthcare indications. TPI has an extensive nationwide distribution network with a sales force of 730 sales representatives out of totaled 1,365 employees.

For more information about TPI, please visit:  http://www.tianyinpharma.com.

Safe Harbor StatementThe Statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.

For more information, please visit: http://www.tianyinpharma.com, or email ir@tianyinpharma.com Tel:
+86-28-8551-6696 (Chengdu, China)+86-134-3655-0011 (China)Address: Tianyin Pharmaceutical23rd Floor, Unionsun Yangkuo PlazaNo. 2, Block 3, South Renmin RoadChengdu, 610041China
'/>"/>

SOURCE Tianyin Pharmaceutical Co., Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Inhibikase Therapeutics Discusses New Platform for Infectious Disease Pharmaceuticals at BIOCOM 2009
2. VHGI Discusses Recent Addition to the Regulation SHO Threshold Security Listing
3. Robotic Surgery Expert Dr. David B. Samadi, MD Discusses New Evidence That Proves The Low Complication Rates of Robotic Prostatectomy
4. With Over 3,000 Robotic Prostatectomy Surgeries to His Credit, Dr. David Samadi, MD Discusses SMART Surgery and How it Improves Sexual and Urinary Function
5. Prostate Cancer Treatment Expert Dr. David Samadi, MD Discusses Study Which Found That Low-Income Men Had High-Risk Prostate Cancer Tumors
6. Robotic Prostatectomy Expert Dr. David Samadi, MD Discusses Prostate Cancer Treatment Drug Abiraterone
7. Robotic Surgery Expert Dr. David Samadi, MD Discusses FDA Warnings on the Effect of GnRH Agonists
8. New York Robotic Surgery Expert Dr. David Samadi, MD Discusses New Findings that Hormone Therapy May Increase Risk of Developing Colorectal Cancer
9. Robotic Prostatectomy Expert Dr. David Samadi, MD Discusses Prostate Cancer Staging and Prostate Cancer Recurrence Study
10. Dr. David B. Samadi Discusses Why Robotic Surgery is Quickly Becoming the Go-To Standard for Prostate Cancer Treatment
11. Questcor Discusses ISS Proxy Recommendations; Provides Business Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... DALLAS , Dec. 8, 2016 Dignitana, ... an exclusive partnership with Boa® Technology, creator of the ... fit cap for use with the DigniCap® scalp cooling ... Drug Administration in December 2015, and is the first ... The DigniCap® scalp cooling system features a patented ...
(Date:12/8/2016)... 8, 2016  Economic growth in the United States ... supply management executives in their December 2016 Semiannual Economic ... recovery that began in mid-2009, as indicated in the ... ® . The manufacturing sector is optimistic about growth ... manufacturing industries, and the non-manufacturing sector indicates that 14 ...
(Date:12/8/2016)... PUNE, India , December 8, 2016 According ... (Diagnostic (Heart, Pulse, BP, Sleep, Fetal), Therapeutic (Pain, Insulin)), End Use (Sports, ... to 2021", published by MarketsandMarkets, the global market, in terms of value, ... in 2016, at a CAGR of 18.0% during the forecast period. ... ...
Breaking Medicine Technology:
(Date:12/8/2016)... ... December 08, 2016 , ... Bill Mull Agencies, ... owners in and around central Kansas, is joining the Youth Horizons organization for ... region. , Headquartered in Wichita, Youth Horizons works to empower area children from ...
(Date:12/7/2016)... ... ... Kenall Manufacturing, a leader in sealed healthcare lighting for more than 30 ... sealed, LED luminaire that meets the needs of everyone in the patient room by ... , A 2’ x 4’ model features four modes: reading, ambient, standard and high ...
(Date:12/7/2016)... ... December 07, 2016 , ... OC87 Recovery Diaries ... schizophrenic mother in a unique, personal perspective through animation. , That woman ... addictive disorders at her private psychotherapy practice. Sheri’s mother, Pearl, lived with schizophrenia. ...
(Date:12/7/2016)... ... 07, 2016 , ... Castle Dermatology Institute is now offering liquid facelifts with ... youthful appearance to the face. Dr. Peyman Ghasri and Dr. Pedram Ghasri, San ... treatments, to rejuvenate and renew the facial appearance. , Sculptra is a highly ...
(Date:12/7/2016)... Fl (PRWEB) , ... December 07, 2016 , ... When it came time to blow ... heart. Just 40 minutes later, the Pediatric Heart Transplant team at Joe DiMaggio ... making the Weston teen the hospital’s 30th heart transplant recipient. , “He was playing ...
Breaking Medicine News(10 mins):