v2.4.0.6

Unaudited Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 5,585,982	$ 6,168,754
Restricted cash		231,838
Accounts receivable, net	1,845,499	1,986,663
Inventories, net	1,396,876	1,414,600
Loans to customer and supplier	2,900,898	2,892,868
Other receivables	752,715	483,884
Prepayments	9,208,129	9,029,524
Other current assets	18,495	132,746
Deferred tax assets	27,192	27,042
Total current assets	21,735,786	22,367,919
Property, plant and equipment, net	5,157,311	4,813,232
Construction in progress	557,865	295,248
Intangible asset, net	1,204,323	1,238,025
Other non-current assets		134,736
Total assets	28,655,285	28,849,160
Current liabilities:
Accounts payable	659,249	646,649
Advance from customers	245,825	128,321
Other payables and accrued liabilities	732,814	942,793
Income tax payable	1,849,844	1,842,139
Convertible notes, net	7,509,232	7,267,677
Current portion of long-term borrowings	796,950	1,268,106
Total current liabilities	11,793,914	12,095,685
Advance from government grant	49,825	37,948
Long-term borrowings	1,434,510	792,567
Total liabilities	13,278,249	12,926,200
Commitments and contingencies
EQUITY
Common stock, $0.001 par value, 50,000,000 shares authorized, 13,324,083 issued and outstanding as of March 31, 2013 and December 31, 2012	13,324	13,324
Additional paid-in capital	12,220,181	12,220,181
Retained earnings	1,809,407	2,485,736
Statutory reserve	373,406	373,406
Accumulated other comprehensive income	790,840	658,870
Total Tanke Biosciences Corporation stockholders' equity	15,207,158	15,751,517
Non-controlling interest	169,878	171,443
Total Equity	15,377,036	15,922,960
Total Liabilities and Equity	$ 28,655,285	$ 28,849,160

Amount received from customers in advance.

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Tanke Biosciences Corp 10-Q