| 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 | |
| | | | | | | |