Kiwa Bio-Tech Products Group Corp (fka KWBT)

[jwblue74]

Advance to suppliers, net $ 22,364,239 Company about to be debt free and have paid this much already in advances to its vendors. Company has turned the corner by becoming profitable and profitability gains will increase going forward.

6. Advance to suppliers
Advance to suppliers are mainly funds deposited for future raw material and finished goods purchases. The Company’s major vendors require deposits with them as a guarantee that the Company will complete its purchases on a timely basis as well as securing the current agreed upon purchase price. Since the Company anticipated the price of raw materials continues to be on the rise, the Company agreed to make large amount of advances to suppliers.

$KWBT