PDF《长春达兴药业股份有限公司》

s accounting records, and to destroy the true records. After the current board of directors was elected by the shareholders, the board found it is unable to disclose the financials because all accounting records were fake, the Company'

s stock trading was also suspended because of inability to disclose financials on time. And the Company can not merge with or being acquired by other entities because no true account records can be found. The board can only try to maintain daily operation while restore the accounting records. With the help of auditors from police department, the Company'

s financials are finally discovered (approximation only) on August 2006, which are, by the end of 2005, the Company'

s total assets is 106,750,000 RMB, total liabilities is 190,940,000 RMB, net assets is -84,190,000 RMB, debt-equity ratio is 178.9%. The Company'

s unappropriated net income is -213,970,000 RMB (accrued). 3. Operations. In the first half of 2005, the Company has almost ceased operation because of lack of current assets, this has resulted the absent of the Company'

s product in the market;

the creditors prosecuted the Company because the Company'

s inability to pay the debt on time. As of June 28,

2005 (the date the current directors were elected), almost all of the Company'

s assets are seized by the court, and all of the Company'

s bank account are seized by the court, there was not a single penny the board can use to maintain the operation. I........