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http://www.greenplanetbio.com.cn/en/Default.aspx
Green Planet Bio (GPLB)’s stock began trading on May 21,2009 under the ticker symbol “GPLB.ob”
EPS of .27 and .25 - Basic and Diluted
Almost a 7:1 Asset to Liability Ratio
| Green Planet Bioengineering Co., Ltd. | ||||||||
| Consolidated Statements of Income and Comprehensive Income | ||||||||
| (Stated in US dollars) | ||||||||
| Year ended December 31, | ||||||||
| 2009 | 2008 | |||||||
| Sales revenue | $ | 13,297,616 | $ | 10,401,530 | ||||
| Cost of sales | (5,553,342 | ) | (3,939,610 | ) | ||||
| Gross profit | 7,744,274 | 6,461,920 | ||||||
| Operating expenses | ||||||||
| Administrative expenses | 947,251 | 1,117,729 | ||||||
| Research and development expenses | 378,497 | 444,404 | ||||||
| Selling expenses | 477,345 | 247,991 | ||||||
| 1,803,093 | 1,810,124 | |||||||
| Income from operations | 5,941,181 | 4,651,796 | ||||||
| Interest income | 4,912 | 14,141 | ||||||
| Subsidy income | 21,966 | 57,660 | ||||||
| Other income | (12,031 | ) | 1,435 | |||||
| Finance costs | (144,074 | ) | (151,814 | ) | ||||
| Income before income taxes and minority interest | 5,811,954 | 4,573,218 | ||||||
| Income taxes | (1,493,555 | ) | (1,222,919 | ) | ||||
| Net income | $ | 4,318,399 | $ | 3,350,299 | ||||
| STATEMENT OF COMPREHENSIVE INCOME | ||||||||
| Net Income | $ | 4,318,399 | $ | 3,350,299 | ||||
| Other comprehensive income | ||||||||
| Unrealized foreign currency gain (loss) | (17,183 | ) | 747,343 | |||||
| Total comprehensive income | $ | 4,301,216 | $ | 4,097,642 | ||||
| Earnings per share | ||||||||
| - Basic | $ | 0.27 | $ | 0.24 | ||||
| - Diluted | $ | 0.25 | $ | 0.22 | ||||
| Weighted average number of shares outstanding : | ||||||||
| - Basic | 16,239,234 | 14,193,831 | ||||||
| - Diluted | 17,289,953 | 15,220,563 | ||||||
| See Notes to Consolidated Financial Statements | ||||||||
| Green Planet Bioengineering Co., Ltd. | ||||||||
| Consolidated Balance Sheets | ||||||||
| (Stated in US dollars) | ||||||||
| As of December 31, | ||||||||
| 2009 | 2008 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 791,775 | $ | 665,568 | ||||
| Trade receivables | 5,078,734 | 4,346,403 | ||||||
| Deferred taxes | 76,772 | 31,643 | ||||||
| Prepaid expense and other receivables | 820,288 | 51,841 | ||||||
| Inventories | 1,203,490 | 431,569 | ||||||
| Prepayments of operating lease | 1,711,130 | - | ||||||
| Total current assets | 9,682,189 | 5,527,024 | ||||||
| Intangible assets | 681,315 | 159,159 | ||||||
| Deposit for acquisition of intangible assets | 161,151 | 161,370 | ||||||
| Property, plant and equipment, net | 3,507,538 | 3,144,067 | ||||||
| Land use rights | 1,000,428 | 7,841,214 | ||||||
| Deferred taxes | 22,770 | 8,977 | ||||||
| Available for sale securities | 5,000,000 | - | ||||||
| Prepayments of operating lease | 7,790,914 | - | ||||||
| TOTAL ASSETS | $ | 27,846,305 | $ | 16,841,811 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| LIABILITIES | ||||||||
| Current liabilities | ||||||||
| Trade payables | $ | 557,155 | $ | 715,363 | ||||
| Other payables and accrued expenses | 541,371 | 1,262,011 | ||||||
| Amount due to a related party | 16,189 | 11,443 | ||||||
| Amount due to a stockholder | 34,528 | 3,362 | ||||||
| Deferred taxes | 148,581 | - | ||||||
| Secured loans from a financial institution | 1,860,561 | - | ||||||
| Convertible loan payable | 190,000 | - | ||||||
| Loan from government | - | 146,700 | ||||||
| Income tax payable | 611,745 | 301,197 | ||||||
| Deferred revenue | 62,995 | 63,081 | ||||||
| Total current liabilities | 4,023,125 | 2,503,157 | ||||||
| - | - | |||||||
| TOTAL LIABILITIES | 4,023,125 | 2,503,157 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Preferred stock : par value of $0.001 per share, Authorized: 10,000,000 shares in 2009 and 2008, 5,101 issued and outstanding in 2009, none in 2008 | 5 | - | ||||||
| Common stock : par value $0.001 per share Authorized : 250,000,000 shares in 2009 and 40,000,000 shares in 2008; issued and outstanding : 20,006,402 shares in 2009 and 14,141,667 shares in 2008 | 20,006 | 14,422 | ||||||
| Additional paid-in capital | 10,293,896 | 5,116,175 | ||||||
| Statutory reserve | 1,305,895 | 848,550 | ||||||
| Accumulated other comprehensive income | 1,458,976 | 1,476,159 | ||||||
| Retained earnings | 10,744,402 | 6,883,348 | ||||||
| TOTAL STOCKHOLDERS’ EQUITY | 23,823,180 | 14,338,654 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 27,846,305 | $ | 16,841,811 | ||||
