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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 de
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SOURCE Tianyin Pharmaceutical Co., Inc.
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