Attached files
Exhibit 99.1 (c)
FIRST CHINA PHARMACEUTICAL GROUP LIMITED
INTERIM BALANCE SHEETS
(Stated in US Dollars)
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As of
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||||||||
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June 30,
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||||||||
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Notes
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2010
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|||||||
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$
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||||||||
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ASSETS
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||||||||
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Current Assets
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||||||||
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Cash and cash equivalents
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1,305 | |||||||
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Restricted cash
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2 | (e) | - | |||||
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Total current assets
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1,305 | |||||||
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Long-term Investment, net
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6 | 294,470 | ||||||
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TOTAL ASSETS
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295,775 | |||||||
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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||||||||
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Current Liabilities
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Short-term borrowings
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7 | - | ||||||
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Other payable and accrued liabilities
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8 | 295,883 | ||||||
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Income tax payable
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- | |||||||
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Total Current Liabilities
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295,883 | |||||||
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TOTAL LIABILITIES
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295,883 | |||||||
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COMMITMENTS AND CONTINGENCIES
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13 | - | ||||||
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STOCKHOLDERS’ EQUITY
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||||||||
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Common stock
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10 | 1,285 | ||||||
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Authorized, issued and outstanding:
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10,000 common shares, par value HK$1 per share
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Retained earnings
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(1,393 | ) | ||||||
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Accumulated other comprehensive income
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||||||||
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- foreign currency translation adjustments
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- | |||||||
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TOTAL STOCKHOLDER’S EQUITY
|
(108 | ) | ||||||
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
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295,775 | |||||||
FIRST CHINA PHARMACEUTICAL GROUP LIMITED
INTERIM STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Stated in US Dollars)
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Three months
ended
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Six months
ended
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June 30,
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June 30,
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Notes
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2010
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2010
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$
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$
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|||||||||||
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Net sales
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- | - | ||||||||||
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Costs of sales
|
- | - | ||||||||||
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Gross profit
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- | - | ||||||||||
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Selling expenses
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- | - | ||||||||||
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Administrative expenses
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(59 | ) | (59 | ) | ||||||||
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Depreciation and amortization
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- | - | ||||||||||
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Other (losses)/gains-
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- | - | ||||||||||
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Other operating expenses
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- | - | ||||||||||
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Income from operations
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(59 | ) | (59 | ) | ||||||||
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Interest income
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- | - | ||||||||||
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Interest expense
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(49 | ) | (49 | ) | ||||||||
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Income before tax
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(108 | ) | (108 | ) | ||||||||
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Income tax
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- | - | ||||||||||
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Net income
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(108 | ) | (108 | ) | ||||||||
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Other comprehensive income
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||||||||||||
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- foreign currency translation adjustments
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- | - | ||||||||||
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Comprehensive income
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(108 | ) | (108 | ) | ||||||||
FIRST CHINA PHARMACEUTICAL GROUP LIMITED
INTERIM STATEMENTS OF SHAREHOLDERS’ EQUITY
(Stated in US Dollars)
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Common stock
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Additional
paid-in
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Retained
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||||||||||||||||||
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Shares
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Amount
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capital
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earnings
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Total
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$
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$
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$
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$
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Balance, April 29, 2010 (Incorporation date)
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10,000 | 1,285 | - | - | 1,285 | |||||||||||||||
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Net income
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- | - | - | (108 | ) | (108 | ) | |||||||||||||
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Deemed distribution of dividend
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- | - | - | (1285 | ) | (1285 | ) | |||||||||||||
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Balance, June 30, 2010
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10,000 | 1,285 | - |
（1,393)
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(108 | ) | ||||||||||||||
FIRST CHINA PHARMACEUTICAL GROUP LIMITED
INTERIM STATEMENT OF CASH FLOWS
(Stated in US Dollars)
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From the date of incorporation
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to June 30,
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2010
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$
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||||
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Cash Flows from Operating Activities
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||||
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Net income
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(108 | ) | ||
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Adjustments to reconcile net income to net cash provided by operating activities:
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||||
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Depreciation and amortization
|
- | |||
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Changes in operating assets and liabilities:
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||||
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Due from (to) a related party
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(1,285 | ) | ||
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Other payables and accrued liabilities
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295,883 | |||
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Net cash used in operating activities
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294,490 | |||
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Cash Flows from Investing Activities
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||||
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Long-term Investment
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(294,470 | ) | ||
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Net cash used in investing activities
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(294,470 | ) | ||
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Cash flows from financing activities
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||||
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Capital Contribution
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1,285 | |||
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Decrease (increase) in restricted cash
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- | |||
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Net cash provided by (used in) financing activities
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1,285 | |||
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Effect of foreign currency translation on cash and cash
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||||
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equivalents
|
- | |||
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Net decrease in cash and cash equivalents
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1,305 | |||
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Cash and cash equivalents - beginning of period
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- | |||
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Cash and cash equivalents - end of period
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1,305 | |||
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Supplemental disclosures for cash flow information:
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Cash paid for:
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Interest
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- | |||
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Income taxes
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- | |||