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Press Releases |
| Lotus Pharmaceuticals Releases Third Quarterly Report Showing $37.6 Million in Revenues and $6 Million in Net Profits |
BEIJING, Nov. 20, 2007 (PRIME NEWSWIRE) -- Lotus Pharmaceuticals, Inc. (OTC BB:LTUS.OB - News) released its third quarter results, in a 10-QSB filing with the S.E.C. Financial results showed revenues topping $37.6 million and net profits of $6 million for the nine months ended September 30, 2007, and net assets of $30.2 million at September 30, 2007. |
| CFO Adam Wasserman reported: "Total revenues for the nine months ended September 30, 2007 were $37,649,336 as compared to total revenues of $25,079,689 for the nine months ended September 30, 2006, an increase of $12,569,647 or approximately 50%. |
"Lotus reported net income of $5,966,398 for the nine months ended September 30, 2007 as compared to net income of $4,300,729 for the nine months ended September 30, 2006. The Company's working capital position increased $7,107,860 to $15,753,936 at September 30, 2007 from $8,646,076 at December 31, 2006.'' |
Dr. Liu Zhongyi, Chief Executive Officer, stated: "The performance of Lotus is a tribute to our superior products and personnel. We operate our company at the highest standards of manufacturing and inspection requirements. Consumers buy with confidence and satisfaction from Lotus, and the results of this past financial quarter give credence to this claim. Given time, achieving our objectives should place Lotus amongst the top 100 pharmaceutical companies in China.'' |
| About Lotus Pharmaceuticals, Inc. |
| Lotus Pharmaceuticals, Inc. ("Lotus'') owns and operates Liang Fang Pharmaceutical, Ltd. ("Liang'') and En Zhe Jia Shi Pharmaceutical, Ltd. ("En Zhe''), two Chinese pharmaceutical companies located in Beijing. Liang and En Zhe form a large comprehensive enterprise, which deals in an integration of the production, trade, sales and marketing of pharmaceuticals. Together, they possess some of the most advanced pharmaceutical-production equipment used in China, workshops authenticated by the National GMP, a suite of various medicines produced by Liang and/or En Zhe (together, "Lotus East''), and a large number of high-tech personnel. Lotus East has business and office facilities of 2,000 square meters and a warehouse of 1,000 square meters. Lotus East performs scientific research on new medicines, and the production, wholesale and retail sale of medicines. For more information, visit http://www.LotusEast.com. |
| Safe Harbor Statement Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission. |
| Contact |
Lotus Pharmaceuticals, Inc.
Adam Wasserman, CFO
Tel: 877-801-0344
Fax: 954-337-2204
info@LotusEast.com |
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