China Pharma Holdings Files Q2 2024 10-Q

TL;DR

China Pharma Holdings filed its Q2 10-Q. Check financials.

AI Summary

China Pharma Holdings, Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, previously known as TS Electronics Inc. and Softstone Inc., is incorporated in Nevada and operates in the Pharmaceutical Preparations sector. Its principal business address is in Haikou, Hainan Province, China.

Why It Matters

This filing provides investors with the latest financial performance and operational details for China Pharma Holdings, Inc. for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate, significant negative news.

Key Players & Entities

• CHINA PHARMA HOLDINGS, INC. (company) — Registrant
• June 30, 2024 (date) — Quarterly period end date
• TS ELECTRONICS INC (company) — Former company name
• SOFTSTONE INC (company) — Former company name
• Nevada (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — were 17,162,771 shares of common stock, $0.001 par value per share, issued and outstan

Filing Documents

• ea0210807-10q_chinaphar.htm (10-Q) — 592KB
• ea021080701ex31-1_china.htm (EX-31.1) — 10KB
• ea021080701ex31-2_china.htm (EX-31.2) — 10KB
• ea021080701ex32-1_china.htm (EX-32.1) — 5KB
• 0001213900-24-068984.txt ( ) — 4267KB
• cphi-20240630.xsd (EX-101.SCH) — 44KB
• cphi-20240630_cal.xml (EX-101.CAL) — 41KB
• cphi-20240630_def.xml (EX-101.DEF) — 227KB
• cphi-20240630_lab.xml (EX-101.LAB) — 406KB
• cphi-20240630_pre.xml (EX-101.PRE) — 233KB
• ea0210807-10q_chinaphar_htm.xml (XML) — 383KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

OTHER INFORMATION

PART II OTHER INFORMATION 29 Item 6. Exhibits 29 i

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CHINA PHARMA HOLDINGS, INC. AND SUBSIDIARIES TABLE OF CONTENTS Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 (Unaudited) 2 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 1 CHINA PHARMA HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, December 31, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 739,337 $ 1,423,838 Banker's acceptances 15,435 65,915 Trade accounts receivable, less allowance for doubtful accounts of $ 13,706,077 and $ 13,786,074 , respectively 254,850 504,448 Other receivables, less allowance for doubtful accounts of $ 27,929 and $ 27,017 , respectively 28,660 157,944 Advances to suppliers 161 2,013 Inventories 2,818,925 3,732,517 Prepaid expenses 115,610 110,258 Total Current Assets 3,972,978 5,996,933 Property, plant and equipment, net 5,817,379 7,100,425 Right-of-use assets 77,259 116,610 Intangible assets, net 4,393,617 3,255,232 TOTAL ASSETS $ 14,261,233 $ 16,469,200 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Trade accounts payable $ 141,036 $ 966,420 Accrued expenses 208,831 298,829 Other payables 1,606,991 2,282,692 Advances from customers 101,056 90,507 Borrowings from related parties 1,140,775 1,133,809 Lease liabilities 78,628 77,727 Current portion of lines of credit 1,024,303 1,030,680 Convertible, redeemable note payable, net of issue discount 410,415 940,000 Total Current Liabilities 4,712,035 6,820,664 Non-current

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View this 10-Q filing on SEC EDGAR