Market Data 
Markets
Replies to post #42871 on The Golden Lounge
ETERNAL TECHNOLOGIES GROUP INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2004 AND 2003
(UNITED STATES DOLLARS)
ASSETS 2004 2003
(Restated)
CURRENT ASSETS
Cash and cash equivalents $27,473,354 $16,302,464
Accounts receivable 1,538,313 -
Inventories 621,307 1,214,182
Other receivable - 3,399,995
Receivable due from related company - 617,825
Receivable- Property sold - 2,192,071
Prepayments and deposits 602 145,190
---------------- ---------------
TOTAL CURRENT ASSETS 29,633,576 23,871,727
FIXED ASSETS net of accumulated depreciation 5,904,050 6,416,341
LAND USE RIGHTS net of accumulated amortization of
$1,055,361 in 2004 and $806,961 in 2003 4,944,639 5,193,039
---------------- ---------------
TOTAL ASSETS $40,482,265 $35,481,107
================ ===============
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Notes payable 443,366 503,857
Accounts payable and accrued expenses 1,526,595 1,133,462
Payable to related company - 205,957
Amounts due to related parties 272,465 417,617
---------------- ---------------
TOTAL CURRENT LIABILITIES 2,242,426 2,260,893
SHAREHOLDERS' EQUITY
Preferred shares - 5,000,000 authorized $.001 par
none issued - -
Common shares - 95,000,000 authorized at $.001
par - 30,679,630 and 29,177,396 shares issued
and outstanding at December 31, 2004 and 2003
respectively 30,679 29,177
Paid - in capital 9,740,830 8,955,570
Stock subscription receivable (10,176) (10,176)
Retained earnings 28,478,506 24,245,643
-------------- -------------
TOTAL SHAREHOLDERS' EQUITY 38,239,839 33,220,214
---------------- --------------
$40,482,265 $35,481,107
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY ================ ==============
The accompanying notes are an integral part of these
consolidated financial statements
F-3
ETERNAL TECHNOLOGIES GROUP INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2004 AND 2003
(UNITED STATES DOLLARS)
2004 2003
----------------- -----------------
$16,834,759 $15,495,966
SALES
COST OF SALES 10,305,514 6,550,582
----------------- -----------------
GROSS PROFIT 6,529,245 8,945,384
DEPRECIATION AND AMORTIZATION 760,691 874,417
GENERAL SELLING AND ADMINISTRATIVE
EXPENSES 1,580,990 1,391,945
OTHER INCOME (EXPENSE)
Interest income 126,049 83,272
Interest expense (27,234) (51,441)
Impairment loss (53,517) (300,000)
----------------- -----------------
NET INCOME BEFORE INCOME TAXES 4,232,862 6,410,853
INCOME TAXES - -
----------------- -----------------
NET INCOME $4,232,862 $6,410,853
================= =================
EARNINGS PER SHARE
Basic $ 0.14 $ 0.24
================= =================
Diluted $ 0.14 $ 0.24
================= =================
Weighted average number of
common shares outstanding
Basic 29,551,485 26,968,121
================= =================
Diluted 29,563,297 26,968,121
================= =================
AI
