![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hubei Minkang Pharmaceutical Ltd (GM) | USOTC:HBMK | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.007 | 0.00 | 01:00:00 |
x
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
HUBEI MINKANG PHARMACEUTICAL LTD. |
(Exact name of registrant as specified in its charter) |
Nevada
|
26-2410685
|
|
(State or other jurisdiction of
incorporation of organization)
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
o
(do not check if a smaller reporting company)
|
Smaller reporting company
|
x
|
ITEM 1.
|
BUSINESS
|
1
|
|||
ITEM 1A.
|
RISK FACTORS
|
15
|
|||
ITEM 1B.
|
UNRESOLVED STAFF COMMENTS
|
27
|
|||
ITEM 2.
|
PROPERTIES
|
27
|
|||
ITEM 3.
|
LEGAL PROCEEDINGS
|
28
|
|||
ITEM 4.
|
MINE SAFETY DISCLOSURES
|
28
|
|||
ITEM 5.
|
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|
29
|
|||
ITEM 6.
|
SELECTED FINANCIAL DATA
|
29
|
|||
ITEM 7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
30
|
|||
ITEM 7A.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
36
|
|||
ITEM 8.
|
FINANCIAL STATEMENTS
|
F-1
|
|||
ITEM 9.
|
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|
37
|
|||
ITEM 9A.
|
CONTROLS AND PROCEDURES
|
37
|
|||
ITEM 9B.
|
OTHER INFORMATION
|
38
|
|||
ITEM 10.
|
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|
38
|
|||
ITEM 11.
|
EXECUTIVE COMPENSATION
|
43
|
|||
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
44
|
|||
ITEM 13.
|
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE
|
45
|
|||
ITEM 14.
|
PRINCIPAL ACCOUNTING FEES AND SERVICES
|
46
|
|||
ITEM 15.
|
EXHIBITS
|
47
|
●
|
focus production on its highest margin products;
|
●
|
continuously improve production facilities and process;
|
●
|
lower production costs while maintaining product quality;
|
●
|
increase direct sales while reducing distribution costs;
|
●
|
acquire control of raw material supply;
|
●
|
develop and acquire new products for manufacture; and
|
●
|
expand distribution throughout China and overseas.
|
●
|
90 of Hubei Minkang PRC’s permitted pharmaceuticals are listed in the Administration Catalogue for Overall Social Medical Insurance
|
●
|
45 are listed in the Basic Administration Catalogue for Medicine
|
●
|
66 are Over The Counter (OTC) products
|
●
|
1 of Hubei Minkang PRC’s products are protected by China state government in the patent approval process.
|
●
|
1 of Hubei Minkang PRC’s production techniques have been granted patent rights
|
Product Name
|
Type and Form
|
Description and Use
|
Shuxin Koufuye
|
Prescription TCM - oral mixture
|
To replenish heart-qi and promote blood circulation to resolve stagnated blood. Impeded flow of yang--qi in the chest due to a deficiency of heart--qi and accumulation of stagnated blood with manifestations of constriction in the chest and stabbing pain in the precardium, shortness of breath and lassitude; angina pectoris in coronary heart disease with above symptoms.
|
Liuwei Dihuang Wan
|
OTC TCM – pills
|
To nourish yin to reinforce the kidney. Used for dizziness, tinnitus, weakness and aching in the lower back and knees, night sweat, seminal emission.
|
Biyuan Wan
|
Prescription TCM – pills
|
To dispel wind-evil and releasing stagnated lung-energy, clear away heat and toxicity, relieve nasal obstruction to stop pain. Treated for nasal obstruction, sinusitis with purulent discharge, un-free orifices, smell badly, headache and eyebrow bone pain.
|
Buzhong Yiqi Wan
|
OTC TCM – pills
|
To reinforce the middle-energizer to replenish qi. Used for lassitude, visceroptosis.
|
Maiwei Dihuang Wan
|
OTC TCM – pills
|
To nourish the kidney and lung. Tidal fever and night sweat, dry throat, dizziness, tinnitus, aching and weakness in the lower back and knees due to a yin deficiency of the kidney and the lung.
|
Mingmu Dihuang Wan
|
OTC TCM – pills
|
To nourish the kidney and liver, improve eyesight. Dryness of eyes, photophobia, blurred vision, and lacrimation irritated by the wind due to yin deficiency of the liver and the kidney.
|
Nongsuo Yangrong Wan
|
OTC TCM – pills
|
To reinforce qi and nourish blood, invigorate the spleen to anchor the mind. Used for weakness of spleen and lung, exhaustion, poor appetite, fright palpitation, night sweat and poor memory.
|
Tianwang Buxin Wan
|
Prescription TCM – pills
|
To replenish yin and nourish blood, and reinforce the heart to anchor the mind. Treated for insufficient heart-yin, palpitation, amnesia, insomnia, dreamfulness and dry stools.
|
Xiaoyao Wan
|
OTC TCM – pills
|
To soothe the liver and invigorate the spleen, and nourish blood to regulate menstrualtion. Menstrual disorders, distending pain in the chest and dizziness, poor appetite and due to stagnation of liver-qi.
|
Qiju Dihuang Wan
|
OTC TCM – pills
|
To nourish the kidney and liver. Dizziness, tinnitus, dryness of eyes and photophobia, dacryorrhea irritated by wind and blurred vision due to yin deficiency in the liver and kidney.
|
Guipi Wan
|
OTC TCM – pills
|
To reinforce qi and invigorate the spleen, nourish blood to anchor the mind. Shortness of breath, palpitation, insomnia, dreamfulness, dizziness, lassitude, and poor appetite due to deficiency in the heart and spleen.
|
Ginkgo Leaf Extract and Dipyridamole Injection
(Yinxing Damo Zhusheye)
|
Prescription chemical medicine - injections
|
Suitable for preventing and treating the coronary heart disease and thrombus embolism disease.
|
●
|
1220 hospitals
|
●
|
10150 medical halls (the Chinese term for TCM pharmacies, which now generally include western style medicines as well).
|
●
|
industry events, such as domestic and international trade fairs and conferences;
|
●
|
high-impact outdoor advertising on buses and trucks;
|
●
|
upgraded packaging; and
|
●
|
print advertising.
|
●
|
50 percent through wholesalers and distributors
|
●
|
35 percent Hubei Minkang PRC sales force
|
●
|
1 percent direct sales
|
●
|
1 percent for promotion
|
Title
|
Application Date
|
Proclamation Date
|
Patent No.
|
Package box (Vitamin C Yinqiao Tablets)
|
August 25, 2009
|
July 28, 2010
|
ZL 2009 3 0312739.6
|
Package box(pill)
|
August 25, 2009
|
June 30, 2010
|
ZL 2009 3 0312777.1
|
Package box (Biyuan Pill)
|
August 25, 2009
|
June 30, 2010
|
ZL 2009 3 0312738.1
|
Package box (Biyuan Pill)
|
August 25, 2009
|
June 30, 2010
|
ZL 2009 3 0312778.6
|
Package box(kelikang)
|
March , 2012
|
September 25, 2012
|
ZL 2012 3 0460485.4
|
Package box(xue mei’an capsules)
|
March , 2012
|
September 25, 2012
|
ZL 2012 3. 0460484.X
|
●
|
121 specialized technical personnel
|
●
|
15 licensed pharmacists
|
●
|
37 R&D personnel (for product formulation and production methods)
|
●
|
65 quality control staff
|
●
|
34 maintenance personnel
|
●
|
To proceed with the purchase of new production equipment and additional warehousing space;
|
●
|
To proceed with research and development on existing and potential future products;
|
●
|
To expand manufacturing capabilities;
|
●
|
To increase commercialization our products, including the marketing and distribution of our existing and potential future products;
|
●
|
To protect our intellectual property;
|
●
|
To seek and obtain regulatory approvals; and
|
●
|
To finance general and administrative and research activities that are not related to specific products under development.
|
●
|
access to the capital markets of the United States;
|
●
|
the increased market liquidity expected to result from exchanging stock in a private company for securities of a public company that are publicly traded;
|
●
|
the ability to use securities to make acquisition of assets or businesses;
|
●
|
increased visibility in the financial community;
|
●
|
enhanced access to the capital markets;
|
●
|
improved transparency of operations; and
|
●
|
perceived credibility and enhanced corporate image of being a publicly traded company.
|
●
|
Fines;
|
●
|
Product recalls or seizure;
|
●
|
Injunctions;
|
●
|
Refusal of regulatory agencies to review pending market approval applications or supplements to approval applications;
|
●
|
Total or partial suspension of production;
|
●
|
Civil penalties;
|
●
|
Withdrawals of previously approved marketing applications; or
|
●
|
Criminal prosecution.
|
●
|
We may become involved in time-consuming and expensive litigation, even if the claim is without merit;
|
●
|
We may become liable for substantial damages for past infringement if a court decides that our technology infringes upon a competitor’s patent;
|
●
|
A court may prohibit us from selling or licensing our product without a license from the patent holder, which may not be available on commercially acceptable terms, if at all, or which may require us to pay substantial royalties or grant cross licenses to our patents, and
|
●
|
We may have to reformulate our product so that it does not infringe upon others’ patent rights, which may not be possible or could be very expensive and time-consuming.
|
●
|
any of our applications for patent or exclusivity will result in their issuance;
|
●
|
we will develop additional patentable or proprietary products;
|
●
|
the patents or exclusive rights we have been issued will provide us with any competitive advantages;
|
●
|
the patents of others will not impede our ability to do business; or
|
●
|
third parties will not be able to circumvent our patents or proprietary rights.
|
●
|
The extent of government involvement;
|
●
|
The level of development;
|
●
|
The growth rate;
|
●
|
The control of foreign exchange; and
|
●
|
The allocation of resources;
|
●
|
Judgments of United States courts obtained against us or these non-residents based on the civil liability provisions of the securities laws of the United States or any state, or
|
●
|
In original actions brought in the PRC, liabilities against us or non-residents predicated upon the securities laws of the United States or any state. Enforcement of a foreign judgment in the PRC also may be limited or otherwise affected by applicable bankruptcy, insolvency, liquidation, arrangement, moratorium or similar laws relating to or affecting creditors’ rights generally and will be subject to a statutory limitation of time within which proceedings may be brought.
|
●
|
investors may have difficulty buying and selling or obtaining market quotations;
|
●
|
market visibility for our common stock may be limited; and
|
●
|
lack of visibility for our common stock may have a depressive effect on the market for our common stock.
|
●
|
actual or anticipated fluctuations in our quarterly operating results;
|
●
|
changes in financial estimates by securities research analysts;
|
●
|
conditions in pharmaceutical and agricultural markets;
|
●
|
changes in the economic performance or market valuations of other pharmaceutical companies;
|
●
|
announcements by us or our competitors of new products, acquisitions, strategic partnerships, joint ventures or capital commitments;
|
●
|
addition or departure of key personnel;
|
●
|
fluctuations of exchange rates between RMB and the US dollar;
|
●
|
intellectual property litigation;
|
●
|
general economic or political conditions in the PRC.
|
●
|
tablet production line (350,000 pieces / 8 hrs)
|
●
|
bottling line for large format (500 ml) oral medicine (1,000 btls / hr)
|
●
|
bottling line for small format (20 ml) oral medicine (10,000 btls/hr)
|
●
|
injection line (5 ml) 10,000/hrs; 10 ml/8,000/hr
|
●
|
tablet coating equipment to preserve freshness (350,000 pieces/4 hrs.)
|
●
|
distillation system for purifying water for injection drugs (1 ton/hr)
|
●
|
tablet packaging equipment(300,000/8 hrs)
|
●
|
Separation Membrane Technology;
|
●
|
Fluid extraction Technology; and
|
●
|
Finger-print QC techniques.
|
Quarter Ended
|
High
|
Low
|
||||||
March 31, 2014
|
$
|
1.00
|
$
|
0.35
|
||||
December 31, 2013
|
$
|
0.35
|
$
|
0.31
|
||||
September 30, 2013
|
$
|
1.10
|
$
|
0.31
|
||||
June 30, 2013
|
$
|
1.10
|
$
|
1.10
|
||||
March 31, 2013
|
$
|
1.10
|
$
|
0.37
|
||||
December 31, 2012
|
$
|
1.60
|
$
|
0.31
|
||||
September 30, 2012
|
$
|
1.80
|
$
|
0.60
|
||||
June 30, 2012
|
$
|
2.00
|
$
|
0.60
|
||||
March 31, 2012
|
$
|
1.01
|
$
|
0.21
|
●
|
focus production on its highest margin products;
|
●
|
continuously improve production facilities and process;
|
●
|
lower production costs while maintaining product quality;
|
●
|
increase direct sales while reducing distribution costs;
|
●
|
acquire control of raw material supply;
|
●
|
develop and acquire new products for manufacture; and
|
●
|
expand distribution throughout China and overseas.
|
For the Year
|
For the Year
|
|||||||
Ended
|
Ended
|
|||||||
December 31, 2013
|
December 31, 2012
|
|||||||
Net Revenues
|
$ | 14,742,964 | $ | 13,918,655 | ||||
Cost of Goods Sold
|
||||||||
Cost of goods sold
|
8,314,457 | 6,961,109 | ||||||
Inventory obsolescence and markdowns
|
139,112 | 201,840 | ||||||
Cost of Goods Sold
|
8,453,569 | 7,162,949 | ||||||
Gross Margin
|
6,289,395 | 6,755,706 | ||||||
Operating Expenses
|
||||||||
Selling expenses
|
2,785,574 | 2,342,384 | ||||||
Professional fees
|
160,207 | 154,837 | ||||||
Research and development
|
81,630 | 43,532 | ||||||
General and administrative expenses
|
3,220,031 | 3,190,639 | ||||||
Total operating expenses
|
6,247,442 | 5,731,392 | ||||||
Income (Loss) from Operations
|
41,953 | 1,024,314 | ||||||
OTHER (INCOME) EXPENSE:
|
||||||||
Government grants - energy conservation
|
(54,235 | ) | (38,002 | ) | ||||
Interest income
|
(30,677 | ) | (22,376 | ) | ||||
Interest expense
|
221,352 | 236,845 | ||||||
Forgiveness of debt
|
(180,000 | ) | (130,634 | ) | ||||
Other (income) expense
|
12,043 | 23,676 | ||||||
Other (income) expense, net
|
(31,517 | ) | 69,509 | |||||
Income (Loss) before Income Tax Provision
|
73,470 | 954,805 | ||||||
Income Tax Benefit (net of credit of $120,429)
|
(53,798 | ) | (6,315 | ) | ||||
Net Income
|
127,268 | 961,120 | ||||||
Other Comprehensive Income
|
||||||||
Foreign currency translation gain
|
347,050 | 68,420 | ||||||
Total other comprehensive income
|
347,050 | 68,420 | ||||||
Comprehensive Income
|
$ | 474,318 | $ | 1,029,540 | ||||
Net Income Per Common Share - Basic and Diluted
|
$ | 0.00 | $ | 0.02 | ||||
Weighted average common shares outstanding:
|
||||||||
- basic and diluted
|
52,189,045 | 43,757,431 |
December 31, 2013
|
December 31, 2012
|
|||||||
Balance sheets
|
6.1122 | 6.3086 | ||||||
Statements of income and comprehensive income
|
6.1943 | 6.3116 |
Contents | Page(s) | |||
Report of Independent Registered Public Accounting Firm
|
F-2 | |||
Consolidated Balance Sheets at December 31, 2013 and 2012
|
F-3 | |||
Consolidated Statements of Operations and Comprehensive Income (Loss) for the Year Ended December 31, 2013 and 2012
|
F-4 | |||
Consolidated Statement of Stockholders’ Equity for the Year Ended December 31, 2013 and 2012
|
F-5 | |||
Consolidated Statements of Cash Flows for the Year Ended December 31, 2013 and 2012
|
F-6 | |||
Notes to the Consolidated Financial Statements
|
F-7 |
For the Year
Ended
|
For the Year
Ended
|
|||||||
December 31,
2013
|
December 31,
2012
|
|||||||
Net Revenues
|
$ | 14,742,964 | $ | 13,918,655 | ||||
Cost of Goods Sold
|
||||||||
Cost of goods sold
|
8,314,457 | 6,961,109 | ||||||
Inventory obsolescence and markdowns
|
139,112 | 201,840 | ||||||
Cost of Goods Sold
|
8,453,569 | 7,162,949 | ||||||
Gross Margin
|
6,289,395 | 6,755,706 | ||||||
Operating Expenses
|
||||||||
Selling expenses
|
2,785,574 | 2,342,384 | ||||||
Professional fees
|
160,207 | 154,837 | ||||||
Research and development
|
81,630 | 43,532 | ||||||
General and administrative expenses
|
3,220,031 | 3,190,639 | ||||||
Total operating expenses
|
6,247,442 | 5,731,392 | ||||||
Income (Loss) from Operations
|
41,953 | 1,024,314 | ||||||
OTHER (INCOME) EXPENSE:
|
||||||||
Government grants - energy conservation
|
(54,235 | ) | (38,002 | ) | ||||
Interest income
|
(30,677 | ) | (22,376 | ) | ||||
Interest expense
|
221,352 | 236,845 | ||||||
Forgiveness of debt
|
(180,000 | ) | (130,634 | ) | ||||
Other (income) expense
|
12,043 | 23,676 | ||||||
Other (income) expense, net
|
(31,517 | ) | 69,509 | |||||
Income (Loss) before Income Tax Provision
|
73,470 | 954,805 | ||||||
Income Tax Benefit (net of credit of $120,429)
|
(53,798 | ) | (6,315 | ) | ||||
Net Income
|
127,268 | 961,120 | ||||||
Other Comprehensive Income
|
||||||||
Foreign currency translation gain
|
347,050 | 68,420 | ||||||
Total other comprehensive income
|
346,290 | 68,420 | ||||||
Comprehensive Income
|
$ | 474,318 | $ | 1,029,540 | ||||
Net Income Per Common Share - Basic and Diluted
|
$ | 0.00 | $ | 0.02 | ||||
Weighted average common shares outstanding
- basic and diluted
|
52,189,045 | 43,757,431 |
Common Stock Par Value $0.001
|
Additional
|
Comprehensive Income
Foreign
|
Total
|
|||||||||||||||||||||
Number of
|
Paid-in
|
Retained
|
Currency
|
Stockholders'
|
||||||||||||||||||||
Shares
|
Amount
|
Capital
|
Earnings
|
Translation Gain
|
Equity
|
|||||||||||||||||||
Balance, December 31, 2011
|
43,047,169 | $ | 43,047 | $ | 3,439,480 | $ | 2,744,600 | $ | 1,302,840 | $ | 7,529,967 | |||||||||||||
Issuance of common shares for cash
at $0.70 per share
|
1,130,270 | 1,130 | 790,059 | 791,189 | ||||||||||||||||||||
Issuance of common shares for cash
at $0.20 per share
|
8,011,606 | 8,012 | 1,594,309 | 1,602,321 | ||||||||||||||||||||
Comprehensive income
|
||||||||||||||||||||||||
Net income
|
961,120 | 961,120 | ||||||||||||||||||||||
Other comprehensive income
|
||||||||||||||||||||||||
Foreign currency translation gain
|
68,420 | 68,420 | ||||||||||||||||||||||
Total comprehensive income
|
1,029,540 | |||||||||||||||||||||||
Balance, December 31, 2012
|
52,189,045 | 52,189 | 5,823,848 | 3,705,720 | 1,371,260 | 10,953,017 | ||||||||||||||||||
Comprehensive income
|
||||||||||||||||||||||||
Net Income
|
127,268 | 127,268 | ||||||||||||||||||||||
Other comprehensive income
|
||||||||||||||||||||||||
Foreign currency translation gain
|
347,050 | 347,050 | ||||||||||||||||||||||
Total comprehensive income
|
474,318 | |||||||||||||||||||||||
Balance, December 31, 2013
|
52,189,045 | $ | 52,189 | $ | 5,823,848 | $ | 3,832,988 | $ | 1,718,310 | $ | 11,427,335 |
For the Year
Ended
|
For the Year
Ended
|
|||||||
December 31,
2013
|
December 31,
2012
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||
Net income
|
$ | 127,268 | $ | 961,120 | ||||
Adjustments to reconcile net income to net cash provided by operating activities | ||||||||
Depreciation expense
|
468,122 | 321,818 | ||||||
Amortization expense - land use rights
|
50,704 | 49,126 | ||||||
Amortization expense - purchased formulae
|
196,967 | 190,835 | ||||||
Changes in operating assets and liabilities:
|
||||||||
Banker's acceptance notes receivable
|
(200,815 | ) | 321,026 | |||||
Accounts receivable
|
712,317 | 518,601 | ||||||
Advance on purchases
|
(75,876 | ) | 104,129 | |||||
Inventories
|
(660,012 | ) | (740,165 | ) | ||||
Prepayments and other current assets
|
(3,021 | ) | 29,164 | |||||
Accounts payable
|
(1,050,866 | ) | 748,288 | |||||
Customer deposits
|
2,084,316 | (553,435 | ) | |||||
Taxes payable
|
(435,118 | ) | (24,638 | ) | ||||
Deferred revenue from government grant
|
(54,964 | ) | (38,020 | ) | ||||
Accrued expenses and other current liabilities
|
(245,912 | ) | 117,201 | |||||
Net cash provided by operating activities
|
913,110 | 2,005,050 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||
Release of restricted cash
|
54,964 | 38,020 | ||||||
Deposit for formation of majority-owned subsidiary
|
(588,986 | ) | - | |||||
Purchases of property, plant and equipment
|
(204,593 | ) | (385,102 | ) | ||||
Net cash used in investing activities
|
(738,615 | ) | (347,082 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||
Proceeds from loans payable
|
3,272,144 | 3,170,275 | ||||||
Repayment of loans payable
|
(3,272,144 | ) | (3,170,275 | ) | ||||
Advances from (repayments to) stockholders
|
(180,173 | ) | (316,174 | ) | ||||
Proceeds from (repayments of) working capital advances
|
- | (792,569 | ) | |||||
Proceeds from sale of common stock
|
- | 2,393,510 | ||||||
Net cash provided by (used in) financing activities
|
(180,173 | ) | 1,284,767 | |||||
Effect of exchange rate changes on cash
|
166,547 | 25,743 | ||||||
Net change in cash
|
160,869 | 2,968,478 | ||||||
Cash at beginning of the reporting period
|
6,073,324 | 3,104,846 | ||||||
Cash at end of the reporting period
|
$ | 6,234,193 | $ | 6,073,324 | ||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
|
||||||||
Interest paid
|
$ | 221,352 | $ | 236,845 | ||||
Income tax paid
|
$ | 152,645 | $ | 414,369 |
(i)
|
Allowance for doubtful accounts
:
Management’s
estimate of the allowance for doubtful accounts is based on historical sales, historical loss levels, and an analysis of the collectability of individual accounts;
and general economic conditions that may affect a client’s ability to pay
. The Company evaluated the key factors and assumptions used to develop the allowance in determining that it is reasonable in relation to the financial statements taken as a whole.
|
(ii)
|
Inventory Obsolescence and Markdowns
:
The Company’s estimate of potentially excess and slow-moving inventories is based on evaluation of inventory levels and aging, review of inventory turns and historical sales experiences. The Company’s estimate of reserve for inventory shrinkage is based on the historical results of physical inventory cycle counts.
|
(iii)
|
Fair value of long-lived assets
:
Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives.
The Company considers the following to be some examples of important indicators that may trigger an impairment review: (i) significant under-performance or losses of assets relative to expected historical or projected future operating results; (ii) significant changes in the manner or use of assets or in the Company’s overall strategy with respect to the manner or use of the acquired assets or changes in the Company’s overall business strategy; (iii) significant negative industry or economic trends; (iv) increased competitive pressures; (v) a significant decline in the Company’s stock price for a sustained period of time; and (vi) regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events.
|
Name of consolidated subsidiary or entity
|
State or other jurisdiction of
incorporation or organization
|
Date of incorporation
or formation
(date of acquisition,
if applicable)
|
Attributable
interest
|
|||||
HBMK Pharmaceutical Limited
|
The Territory of the British Virgin Islands
|
June 29, 2010
|
100 | % | ||||
Hubei Minkang Pharmaceutical Co., Ltd.
|
PRC
|
December 18, 2003
|
100 | % |
Level 1
|
Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
|
|
Level 2
|
Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
|
|
Level 3
|
Pricing inputs that are generally observable inputs and not corroborated by market data.
|
Estimated Useful Life (Years)
|
||||
Buildings and leasehold improvements (i)
|
20 | |||
Construction in progress (ii)
|
-
|
|||
Machinery and equipment
|
7 | |||
Vehicles
|
5 | |||
Medical and office equipment
|
5 | |||
Office equipment
|
5-8 |
(i)
|
Amortized on a straight-line basis over the term of the lease or the estimated useful lives, whichever is shorter.
|
(ii)
|
Construction in progress represents direct costs of construction or the acquisition cost of
long-lived assets
.
Under
U.S. GAAP, all costs associated with construction of long-lived assets should be reflected as long-term as part of construction-in-progress.
Capitalization of these costs ceases and the construction in progress is transferred to property, plant and equipment when substantially all of the activities necessary to prepare the
long-lived assets
for their intended use are completed. No depreciation is provided until the construction of the
long-lived assets
is complete and ready for their intended use.
|
December 31,
2013
|
December 31,
2012
|
|||||||
Balance sheets
|
6.1122 | 6.3086 | ||||||
Statements of operations and comprehensive income (loss)
|
6.1943 | 6.3116 |
December 31,
2013
|
December 31,
2012
|
|||||||
Raw materials
|
$
|
611,583 |
$
|
558,724
|
||||
Packaging materials
|
127,489
|
250,838
|
||||||
Work-in-process
|
963,090 |
847,999
|
||||||
Finished goods (*)
|
2,282,440
|
1,523,528
|
||||||
Inventories, net
|
$
|
3,984,602
|
$
|
3,221,089
|
(*)
|
In accordance with the National Medicine Administration Law of the People's Republic of China, all manufacturers of pharmaceutical products are required to comply with applicable Good Manufacturing Practices (“GMP”) certifications and obtain GMP Certificates every five years. The Company’s GMP certification for one of its products expired on December 31, 2013. The Company
made certain additional production runs prior to December 31, 2013 to produce sufficient amounts of finished goods to meet the market demands while it is in the process of obtaining the renewal of the GMP certificate for the Product.
|
December 31,
2013
|
December 31,
2012
|
|||||||
Loan payable of RMB10,000,000 from Bank of Communications Limited, Yichang City Branch, collateralized by certain of Minkang’s buildings and land use rights, with interest at 110% of the bank’s benchmark rate, payable monthly, with principal due and repaid on May 7, 2013.
|
-
|
1,585,137
|
||||||
Loan payable of RMB10,000,000 from Bank of Communications Limited, Yichang City Branch, collateralized by certain of Minkang’s buildings and land use rights, with interest at 110% of the bank’s benchmark rate, payable monthly, with principal due on May 17, 2014.
|
1,636,072
|
-
|
||||||
Loan payable
of RMB5,000,000
to
Hubei Bank Corporation Limited, collateralized by certain of the Company’s buildings and land use
rights, with interest at 110% of the bank’s benchmark
payable monthly, with principal due and fully repaid on January 11, 2013.
|
-
|
762,569
|
||||||
Loan payable
of RMB5,000,000
to
Hubei Bank Corporation Limited, collateralized by certain of the Company’s buildings and land use
rights, with interest at 110% of the bank’s benchmark
payable monthly, with principal due and repaid on January 29, 2014.
|
818,036
|
-
|
||||||
Loan payable
of RMB5,000,000
to
Hubei Bank Corporation Limited, collateralized by certain of the Company’s buildings and land use
rights, with interest at 110% of the bank’s benchmark
payable monthly, with principal due and repaid on April 5, 2013.
|
-
|
792,569
|
||||||
Loan payable
of RMB5,000,000
to
Hubei Bank Corporation Limited, collateralized by certain of the Company’s buildings and land use
rights, with interest at 110% of the bank’s benchmark
payable monthly, with principal due and repaid on April 7, 2014.
|
818,036
|
-
|
||||||
$
|
3,272,144
|
$
|
3,170,275
|
Related Parties
|
|
Relationship
|
Koh, Sock Hua
|
Stockholder of the Company
|
|
Lee, Tong Tai
|
Chief Executive Officer and stockholder of the Company
|
|
Koh, Cheoh Nguan
|
Stockholder of the Company
|
|
Ang, Siew Khim
|
Treasurer, secretary, director and stockholder of the Company
|
|
Sensori Holdings (S) Pte Ltd.
|
An entity owned and controlled by significant stockholders of the Company
|
Earned Government Grants
for reporting period ended
|
Unearned Government
Grants/Restricted Cash
at
|
|||||||||||||||
December 31,
2013
|
December 31,
2012
|
December 31,
2013
|
December 31,
2012
|
|||||||||||||
Pollution prevention projects
|
$ | 54,235 | $ | 38,002 | $ | 392,663 | $ | 433,691 |
For the Reporting Period Ended
December 31,
2013
|
For the Reporting Period Ended
December 31,
2012
|
|||||||
Chinese statutory income tax rate
|
25.0 | % | 25.0 | % | ||||
Tax holiday – NHTEs
|
(10.0 | ) | (10.0 | ) | ||||
Effective income tax rate
|
15.0 | % | 15.0 | % |
Net Sales
for
Reporting Period Ended
|
Accounts
Receivable
at
|
|||||||||||||||
December 31,
2013
|
December 30,
2012
|
December 31,
2013
|
December 31,
2012
|
|||||||||||||
Customer #0999
|
64.0 | % | 62.4 | % | - | % | - | % | ||||||||
Customer #0579
|
- | % | - | % | 15.0 | % | 10.1 | % | ||||||||
Customer #1212
|
- | % | - | % | 27.0 | % | 17.4 | % | ||||||||
64.0 | % | 62.4 | % | 42.0 | % | 27.5 | % |
For the Reporting Period Ended
December 31,
2013
|
For the Reporting Period Ended
December 31,
2013
|
|||||||
Product A (*)
|
63.0 | % | 62.0 | % | ||||
Product B
|
17.0 | % | 14.0 | % | ||||
Effective income tax rate
|
80.0 | % | 76.0 | % |
(*)
|
In accordance with the National Medicine Administration Law of the People's Republic of China, all manufacturers of pharmaceutical products are required to comply with applicable Good Manufacturing Practices (“GMP”) certifications and obtain GMP Certificates every five years. The Company’s GMP certification for product A expired on December 31, 2013 and the Company
is in the process of obtaining the renewal of the GMP certificate for Product A.
|
(i)
|
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;
|
(ii)
|
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles generally accepted in the United States, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
|
(iii)
|
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the assets of the Company that could have a material effect on the financial statements.
|
Name
|
Age
|
Position Held
|
||
Lee Tong Tai
|
63
|
President, Chief Executive Officer, Chief Financial Officer and Director
|
||
Ang Siew Khim
|
43
|
Secretary, Treasurer and Director
|
1.
|
a petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;
|
2.
|
such person was convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
|
3.
|
such person was the subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities:
|
(i)
|
acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;
|
(ii)
|
engaging in any type of business practice; or
|
(iii)
|
engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;
|
4.
|
such person was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph 3(i) above, or to be associated with persons engaged in any such activity;
|
5.
|
such person was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;
|
6.
|
such person was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;
|
7.
|
such person was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:
|
(i)
|
any Federal or State securities or commodities law or regulation;
|
(ii)
|
any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or
|
(iii)
|
any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or
|
8.
|
such person was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the United States
Commodity Exchange Act
), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.
|
●
|
the appropriate size of our Board of Directors;
|
●
|
our needs with respect to the particular talents and experience of our directors;
|
●
|
the knowledge, skills and experience of nominees, including experience in finance, administration or public service, in light of prevailing business conditions and the knowledge, skills and experience already possessed by other members of the Board;
|
●
|
experience in political affairs;
|
●
|
experience with accounting rules and practices; and
|
●
|
the desire to balance the benefit of continuity with the periodic injection of the fresh perspective provided by new Board members.
|
Name and Principal Position
|
Year
|
Salary
($)
|
Bonus
($)
|
Stock
Awards
($)
|
Option
Awards
($)
|
Non-Equity Incentive Plan Compen-sation
($)
|
Nonqualified Deferred Compen-sation Earnings
($)
|
All Other Compen-sation
($)
|
Total
($)
|
|||||||||||
Lee Tong Tai
|
2013
|
138,636
|
(2)
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
162,000
|
(3)
|
300,636
|
|||||||||
President, CEO, CFO & Director
|
2012
|
138,636
|
(2)
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
60,000
|
(3)
|
198,636
|
|||||||||
Ang Siew Khim
|
2013
|
102,636
|
(2)
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
120,000
|
(3)
|
222,636
|
|||||||||
Secretary, Treasurer & Director
|
2012
|
102,636
|
(2)
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
60,000
|
(3)
|
162,636
|
|||||||||
Loke Hip Meng
|
2013
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
25,000
|
25,000
|
|||||||||||
Former Chief Financial Officer (1)
|
2012
|
60,000
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
60,000
|
(1)
|
Mr. Loke Hip Meng resigned as Chief Financial Officer of the Company on June 19, 2013.
|
(2)
|
In addition to their salary from the Company, which has been earned and accrued, Mr. Lee Tong Tai and Ms. Ang Siew Khim each receive a salary from Hubei Minkang PRC of RMB 9,800 (US$1,553) per month which has been paid.
|
(3)
|
This compensation has been accrued as a director fee and is explained below under Compensation of Directors.
|
Name and Principal Position
|
Fees earned or paid in cash
($)
|
Stock
Awards
($)
|
Option
Awards
($)
|
Non-Equity Incentive Plan Compen-sation
($)
|
Nonqualified Deferred Compen-sation Earnings
($)
|
All Other Compen-sation
($)
|
Total
($)
|
||||||||
Lee Tong Tai (1)
|
162,000
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
162,000
|
||||||||
Ang Siew Khim (2)
|
120,000
|
Nil
|
Nil
|
Nil
|
Nil
|
Nil
|
120,000
|
||||||||
Johnny Lian Tian Yong (3)
|
Nil | Nil | Nil | Nil | Nil | Nil | Nil |
(1)
|
Mr. Lee Tong Tai receives US$15,000 per month as a director fee from the Company from January to June, 2013 which has been accrued. From July to December 2013, Lee Tong Tai receives US$12,000 per month as a director fee which has been accrued.
|
(2)
|
Ms. Ang Siew Khim receives US$12,000 per month as a director fee from the Company from January to June, 2013 which has been accrued. From July to December 2013, Ang Siew Khim received US$8,000 per month as a director fee which has been accrued.
|
(3)
|
Mr. Johnny Lian Tian Yong resigned as Director of the Company on June 19, 2013.
|
Title of class
|
Name and address of beneficial owner
(1)
|
Amount and nature
of beneficial owner
(2)
|
Percentage of class
(3)
|
|||||||
Persons owing more than 5% of voting securities | ||||||||||
Common Stock
|
Lee Tong Jiuh
293 Bishan Street 22, #20-83
Singapore
|
4,336,750
|
(4)
|
8.3
|
%
|
|||||
Common Stock
|
Joseph Soon Kwo Pin
13 Almond Crescent
Singapore 677775
|
2,709,000
|
(5)
|
5.2
|
%
|
|||||
Common Stock
|
Koh Cheok Kow
350 Hougang Avenue 7, #10-647
Hougang N3 (HUDC), Singapore
|
3,055,106
|
(6)
|
5.9
|
%
|
Officers and Directors
|
||||||||||
Common Stock
|
Lee Tong Tai
|
11,576,031
|
(7)
|
22.2
|
%
|
|||||
Common Stock
|
Ang Siew Khim
|
2,301,849
|
(8)
|
4.4
|
%
|
|||||
Common Stock
|
All executive officers and directors as a group (one person)
|
13,877,880
|
26.6
|
%
|
1.
|
The address of our officers and directors is our Company’s address, which is 55 Ubi Ave. 3, #03-01, Mintwell Building, Singapore 408864.
|
2.
|
Under Rule 13d-3 of the Exchange Act a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise has or shares: (i) voting power, which includes the power to vote or to direct the voting of shares; and (ii) investment power, which includes the power to dispose or direct the disposition of shares. Certain shares may be deemed to be beneficially owned by more than one person (if, for example, persons share the power to vote or the power to dispose of the shares). In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire the shares (for example, upon exercise of an option) within 60 days of the date as of which the information is provided. In computing the percentage ownership of any person, the amount of shares outstanding is deemed to include the amount of shares beneficially owned by such person (and only such person) by reason of these acquisition rights.
|
3.
|
Based on 52,189,045 shares of our common stock issued and outstanding as of April 10, 2014.
|
4.
|
This figure includes 3,072,257 shares owned directly by Mr. Lee Tong Jiuh and 1,264,493 shares owned by Mr. Lee Tong Jiuh’s wife, Ms. Jesseline Siah Chiew Choon, which are deemed to be indirectly beneficially owned by Mr. Lee Tong Jiuh.
|
5.
|
This figure includes 2,709,000 shares owned directly by Mr. Joseph Soon Kwo Pin.
|
6.
|
This figure includes 503,082 shares owned directly by Mr. Koh Cheok Kow and 2,552,024 shares owned by Mui Chark (Private) Limited, which are deemed to be indirectly owned and controlled by Mr. Koh Cheok Kow in his capacity as a director of Mui Chark (Private) Limited.
|
7.
|
This figure includes 8,628,868 shares owned directly by Mr. Lee Tong Tai, 1,984,170 shares owned by Mr. Lee Tong Tai’s wife, Ms. Tey Kim Kee and 962,993 shares owned by Mr. Lee Tong Tai’s son, Mr. Lee Wei Meng, which are deemed to be indirectly beneficially owned by Mr. Lee Tong Tai. However, Mr. Lee Tong Tai disclaims beneficial ownership of the 962,993 shares owned by his son.
|
8.
|
This figure includes 2,301,849 shares owned directly by Ms. Ang Siew Khim.
|
Related Parties
|
|
Relationship
|
Koh, Sock Hua
|
Stockholder of the Company
|
|
Lee, Tong Tai
|
Chief Executive Officer and stockholder of the Company
|
|
Koh, Cheoh Nguan
|
Stockholder of the Company
|
|
Ang, Siew Khim
|
Treasurer, secretary, director and stockholder of the Company
|
|
Sensori Holdings (S) Pte Ltd.
|
An entity owned and controlled by significant stockholders of the Company
|
|
Year Ended
December 31, 2012
|
Year Ended
December 31, 2013
|
||||||
Audit Fees
|
$ | 97,500 | $ | 82,500 | ||||
Audit-Related Fees
|
Nil
|
Nil
|
||||||
Tax Fees
|
Nil
|
4,750 | ||||||
All Other Fees
|
Nil
|
Nil
|
||||||
Total
|
$ | 97,500 | $ | 87,250 |
Exhibit Number
|
Description of Exhibit
|
|
2.1
|
Share Exchange Agreement, dated July 8, 2011, among Hubei Minkang Pharmaceutical Ltd., HBMK Pharmaceutical Limited and all the shareholders of HBMK Pharmaceutical Limited. (1)
|
|
3.1
|
Articles of Incorporation (5)
|
|
3.2
|
Bylaws (5)
|
|
3.3
|
Certificate of Change Pursuant to NRS 78.209, filed with the Nevada Secretary of State on September 7, 2007 (5)
|
|
3.4
|
Articles of Merger, filed with the Nevada Secretary of State on September 7, 2007 (5)
|
|
3.5
|
Articles of Merger, filed with the Nevada Secretary of State on May 21, 2008 (5)
|
|
3.6
|
Certificate of Change Pursuant to NRS 78.209, filed with the Nevada Secretary of State on September 29, 2010 (5)
|
|
3.7
|
Articles of Merger, filed with the Nevada Secretary of State on September 29, 2010 (5)
|
|
10.1
|
Extension Agreement, dated August 1, 2011, among Hubei Minkang Pharmaceutical Ltd., HBMK Pharmaceutical Limited and all the shareholders of HBMK Pharmaceutical Limited. (2)
|
|
10.2
|
Extension Agreement #2, dated August 16, 2011, among Hubei Minkang Pharmaceutical Ltd., HBMK Pharmaceutical Limited and all the shareholders of HBMK Pharmaceutical Limited. (3)
|
|
10.3
|
Loan Contract, dated January 20, 2011, among Hubei Minkang Pharmaceutical Co., Ltd. and Yichang Commerce Bank Co., Ltd. for RMB 5,000,000. (4)
|
|
10.4
|
Loan Contract, dated April 8, 2011, among Hubei Minkang Pharmaceutical Co., Ltd. and Yichang Commerce Bank Co., Ltd. for RMB 5,000,000. (4)
|
|
10.5
|
Loan Contract, dated May 5, 2011, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch, for RMB 10,000,000. (4)
|
|
10.6
|
Maximum Pledge Contract, dated December 23, 2010, among Hubei Minkang Pharmaceutical Co., Ltd. and Yichang Commerce Bank Co., Ltd. (4)
|
|
10.7
|
Maximum Pledge Contract, dated January 13, 2011, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch. (4)
|
|
10.8
|
Maximum Pledge Contract, dated May 1, 2011, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch. (4)
|
|
10.9
|
Loan Contract, dated January 11, 2012, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. for RMB 5,000,000. (6)
|
|
10.10
|
Loan Contract, dated April 5, 2012, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. for RMB 5,000,000. (6)
|
|
10.11
|
Loan Contract, dated May 7, 2012, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch, for RMB 10,000,000. (7)
|
|
10.12
|
Maximum Amount Mortgage Contract, dated January 7, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. (8)
|
|
10.13
|
Loan Contract, dated January 30, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. for RMB 5,000,000. (8)
|
|
10.14
|
Loan Contract, dated April 7, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. for RMB 5,000,000. (8)
|
|
10.15
|
Liquid Capital Loan Contract, dated May 2, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch, for RMB 10,000,000. (9)
|
|
10.16
|
Maximum Mortgage Agreement No. A101430249, dated May 2, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch. (9)
|
|
10.17
|
Maximum Mortgage Agreement No. DA101L130249-1, dated May 2, 2013, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch. (9)
|
|
10.18
|
Merger and Reorganization Contract, dated December 28, 2012, among Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Kunyan Medicine Industry Co., Ltd. (10)
|
|
10.19
|
Loan Contract, dated January 20, 2014, by and between Hubei Minkang Pharmaceutical Co., Ltd. and Hubei Bank Co., Ltd. for RMB 5,000,000. *
|
|
21.1
|
Subsidiaries of the registrant *
|
|
31.1
|
Certification of Chief Executive Officer and Chief Financial Officer Pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act. *
|
|
32.1
|
Certification of Chief Executive Officer and Chief Financial officer Under Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act. *
|
|
99.1
|
Certificates of Good Manufacturing Practices for Pharmaceutical Products issued by the State Food and Drug Administration to Hubei Minkang PRC. (4)
|
99.2
|
List of pharmaceutical product registration certificates received by Hubei Minkang PRC from the Food and Drug Administration Authority. (4)
|
|
99.3
|
List of pharmaceutical product registration certificates that have received re-registration in June 2011. (4)
|
|
99.4
|
List of pharmaceutical product registration certificates that are pending for re-registration. (4)
|
|
99.5
|
Free Sale Certificates obtained by Hubei Minkang PRC from Hubei Food and Drug Administration for the manufacture and free sale of 28 popular TCM products. (4)
|
|
99.6
|
Patent Certificates of Appearance Design for packaging received by Hubei Minkang PRC. (4)
|
|
99.7
|
Notification of Granting Invention Patent, issued on May 19, 2011 having a patent definition of “a formula and Chinese medicine that prevents the reduction of platelet.” (4)
|
|
99.8
|
Notifications of Receipts of Patent Applications received by Hubei Minkang PRC. (4)
|
|
99.9
|
Business License for Hubei Minkang Kunyan Pharmaceutical Co., Ltd., dated September 29, 2013. (10)
|
|
101.INS
|
XBRL Instance Document*
|
|
101.SCH
|
XBRL Taxonomy Extension Schema*
|
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase*
|
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase*
|
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase*
|
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase*
|
*
|
Filed herewith.
|
(1)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on July 11, 2011, and incorporated by reference herein.
|
(2)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on August 9, 2011, and incorporate by reference herein.
|
(3)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on August 22, 2011, and incorporated by reference herein.
|
(4)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on September 26, 2011, and incorporated by reference herein.
|
(5)
|
Filed as an Exhibit to the Company’s current report on Form 8-K/A with the SEC on December 22, 2011, and incorporated by reference herein.
|
(6)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on April 26, 2012, and incorporated by reference herein.
|
(7)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on May 15, 2012, and incorporated by reference herein.
|
(8)
|
Filed as an Exhibit to the Company’s Annual Report on Form 10-K with the SEC on April 16, 2013, and incorporated by reference herein.
|
(9)
|
Filed as an Exhibit to the Company’s current report on Form 8-K with the SEC on August 1, 2013, and incorporated by reference herein.
|
(10)
|
Filed as an Exhibit to the Company’s Quarter Report on Form 10-Q with the SEC on November 14, 2013, and incorporated by reference herein.
|
HUBEI MINKANG PHARMACEUTICAL LTD.
|
|||
Dated: April 15, 2014
|
By:
|
/s/ Lee Tong Tai
|
|
Lee Tong Tai
|
|||
President, Chief Executive Officer and Chief Financial Officer | |||
(Principal Executive Officer and Principal Financial Officer)
|
Dated: April 15, 2014
|
By:
|
/s/ Lee Tong Tai
|
|
Lee Tong Tai
|
|||
President, Chief Executive Officer, Chief Financial Officer and Director | |||
Dated: April 15, 2014
|
By:
|
/s/ Ang Siew Khim
|
|
Ang Siew Khim
|
|||
Secretary, Treasurer and Director |
1 Year Hubei Minkang Pharmaceut... (GM) Chart |
1 Month Hubei Minkang Pharmaceut... (GM) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions