Aida Pharmaceuticals (AIDA) 8-K/A Completion of Acquisition or Disposition of Assets

Ex. 99.2

AIDA PHARMACEUTICALS INC. AND SUBSIDIARIES

UNAUDITED PRO FORMA COMBINED

FINANCIAL STATEMENTS

CONTENTS

PAGE 1	Unaudited Pro Forma Combined Balance Sheet at March 31, 2008
PAGE 3	Unaudited Pro Forma Combined Statements of Operations for the Three Months Ended March 31, 2008
PAGE 4	Unaudited Pro Forma Combined Statement of Operations for the Year Ended December 31, 2007
PAGE 5	Notes to Unaudited Pro Forma Combined Balance Sheet at March 31, 2008

PRO FORMA COMBINED FINANCIAL STATEMENTS

         The accompanying unaudited pro forma combined financial statements are based upon the historical condensed balance sheets and condensed statements of operations of Aida Pharmaceuticals Inc. and subsidiaries ("AIDA" or the "Company") and Jiangsu Institute of Microbiology Co., Ltd. and subsidiaries ("JSIM"). The unaudited pro forma combined balance sheet has been prepared as if the acquisition occurred on March 31, 2008.  The unaudited pro forma combined statements of operations for the year ended December 31, 2007 and for the three months ended March 31, 2008 have been prepared as if the acquisition had occurred on January 1, 2008 and 2007. The purchase price has been allocated to the Company's assets and liabilities based upon preliminary estimates of their respective fair values. The pro forma information may not be indicative of the results that actually would have occurred if the merger had been in effect from and on the dates indicated or which may be obtained in the future.

AIDA PHARMACEUTICAL, INC.

UNAUDITED PRO FORMA COMBINED BALANCE SHEET

AS OF MARCH 31, 2008

		AIDA HISTORICAL		JSIM HISTORICAL		PRO FORMA ADJUSTMENTS		PRO FORMA COMBINED
CURRENT ASSETS
Cash and cash equivalents	$	4,596,942	$	381,226	$	-	$	4,978,168
Restricted cash		102,532		-		-		102,532
Accounts receivable, net		9,992,647		161,229		-		10,153,876
Notes receivable		1,283,415		-		-		1,283,415
Inventories		4,413,831		4,432		-		4,418,263
Due from related parties		27,809		-		-		27,809
Receivable for secured guarantee		6,995,516		-		-		6,995,516
Other receivables and prepaid expenses		388,025		25,508		-		413,533
Deposits		11,291,973		-		(9,744,545)	(2)	1,547,428
Due from employees		1,342,927		24,843		-		1,367,770
Prepayments for goods		181,527		-		-		181,527
Deferred taxes		411,713		-		-		411,713
Total current assets		41,028,857		597,238		(9,744,545)		31,881,550
Plant and equipment, net		17,401,420		595,772		-		17,997,192
Land use right, net		3,642,955		55,048		542,803	(1)	4,240,806
Construction in progress		466,100		-		-		466,100
Patents, net		5,200,774		417,767		9,785,694	(1)	15,404,235
Long term investments		205,350		219,684		522,307	(1)	947,341
Deferred assets		81,299		-		-		81,299
Deferred taxes		234,241		-		-		234,241
TOTAL ASSETS	$	68,260,996	$	1,885,509	$	1,106,259	$	71,252,764

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AIDA PHARMACEUTICAL, INC.

UNAUDITED PRO FORMA COMBINED BALANCE SHEET

AS OF MARCH 31, 2008

		AIDA HISTORICAL		JSIM HISTORICAL		PRO FORMA ADJUSTMENTS		PRO FORMA COMBINED
CURRENT LIABILITIES
Accounts payable	$	2,507,271	$	-	$	-	$	2,507,271
Other payables and accrued liabilities		2,866,252		1,264,487		-		4,130,739
Advances for research and development		1,399,387		5,065		-		1,399,387
Short-term debt		28,812,717		-		-		28,817,718
Current portion of long-term debt		1,369,000		-		-		1,369,000
Due to related parties		97,237		17,089		-		114,326
Taxes payable		173,093		-		-		173,093
Customer deposits		1,043,158		-		-		1,043,158
Due to employees		66,740		-		-		66,804
Deferred taxes		92,654		-		-		92,654
Total current liabilities		38,427,509		1,286,641		-		39,714,150
LONG-TERM LIABILITIES
Notes payable		384,187		-		-		384,187
Deferred taxes		983,492		72,730		2,430,461		3,486,683
Long term debt		6,835,465		-		-		6,835,465
Total long-term liabilities		8,203,144		72,730		2,430,461		10,706,335
TOTAL LIABILITIES		46,630,653		1,359,371		2,430,461		50,420,485
MINORITY INTERESTS		8,407,675		-		198,868		8,606,543
SHAREHOLDERS’ EQUITY
Common stock		27,000		548,834		(548,834)	(2)	27,000
Additional paid-in capital		5,204,352		-		257,918	(1)/(2)	5,462,270
Retained earnings		7,310,924		(69,346)		(1,232,154)	(1)/(3)	6,009,424
Accumulated other comprehensive income		680,392		46,650		-		727,042
Total Shareholders’ Equity		13,222,668		526,138		(1,523,070)		12,225,736
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	68,260,996	$	1,885,509	$	-	$	70,146,505

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AIDA PHARMACEUTICAL, INC.

UNAUDITED PRO FORMA COMBINED STATEMENT

OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2008

		AIDA HISTORICAL		JSIM HISTORICAL		PRO FORMA ADJUSTMENTS		PRO FORMA COMBINED
REVENUES, NET	$	7,652,017	$	51	$	-	$	7,652,068
COST OF GOODS SOLD		(3,700,057)		(63)		-		(3,700,120)
GROSS PROFIT (LOSS)		3,951,960		(12)				3,951,948
Research and development		283,116		46,312		-		329,428
Selling and distribution		1,878,847		708		-		1,879,555
General and administrative		1,105,795		92,671		254,988	(3)	1,453,454
INCOME (LOSS) FROM OPERATIONS		684,202		(139,703)		(254,988)		289,511
OTHER INCOME (EXPENSES)
Interest expense, net		(545,563)		848		-		(544,715)
Government grants		2,792		-		-		2,792
Other, net		171,509		202		-		171,711
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES		312,940		(138,653)		(254,988)		(80,701)
INCOME TAXES		(116,149)		(1,020)		-		(117,169)
INCOME (LOSS) FROM OPERATIONS BEFORE MINORITY INTERESTS		196,791		(139,673)		(254,988)		(197,870)
MINORITY INTERESTS		(215,771)		-		(5,312)	(3)	(221,083)
NET LOSS	$	(18,980)	$	(139,673)	$	(260,300)	$	(418,953)

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AIDA PHARMACEUTICAL, INC.

UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2007

		AIDA HISTORICAL		JSIM HISTORICAL		PRO FORMA ADJUSTMENTS		PRO FORMA COMBINED
REVENUES, NET	$	29,203,786	$	466,013	$	-	$	29,669,799
COST OF GOODS SOLD		(14,510,682)		(301,651)		-		(14,812,333)
GROSS PROFIT		14,693,104		164,362		-		14,857,466
Research and development		284,230		15,104		-		299,334
Selling and distribution		4,731,711		141,916		-		4,873,267
General and administrative		4,231,917		421,903		1,019,951	(3)	5,673,771
INCOME (LOSS) FROM CONTINUING OPERATIONS		5,445,246		(414,561)		(1,019,951)		4,010,734
OTHER INCOME (EXPENSES)
Interest expense, net		(2,022,093)		12,823		-		(2,009,270)
Government grants		113,189		-		-		113,189
Forgiveness of debt		114,173		-		-		114,173
Return of sales commission		995,603		-		-		995,603
Gain on sale of marketable securities		121,998		-				121,998
Loss on disposal of fixed assets		-		(42,172)		-		(42,172)
Other, net		(84,763)		(21,047)		-		(105,810)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES		4,683,353		(464,957)		(1,019,951)		3,198,445
INCOME TAXES		(360,041)		(1,783)		-		(361,824)
INCOME (LOSS) BEFORE MINORITY INTERESTS		4,323,312		(466,740)		(1,019,951)		2,836,621
DISCONTINUED OPERATIONS
Loss on disposition of discontinued operations		-		(203,918)		-		(203,918)
Income from discontinued operations		-		156,121				156,121
LOSS FROM DISCONTINUED OPERATIONS		-		(47,797)		-		(47,797)
						-
MINORITY INTERESTS		(1,583,487)		(7,806)		(21,249)	(3)	(1,612,542)
NET INCOME (LOSS)	$	2,739,825	$	(522,343)	$	(1,041,200)	$	1,176,282

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BAS CONSULTING INC.

NOTES TO UNAUDITED PRO FORMA COMBINED BALANCE SHEET

FOR THE PERIOD ENDED MARCH 31, 2008

(1)

The pro forma adjustment is to record patent, land use right and long-term investments to fair value from the allocation of purchase price. The revalued patent and land use right will result in a higher amortization expense of approximately $86,767 per annum calculated on a straight line basis with estimated useful lives of three to forty years. The net increase in depreciation is reflected in the accompanying unaudited pro forma condensed consolidated statements of income.

(2)

The pro forma adjustment is to eliminate the equity of the acquiree and goodwill is calculated based on the acquisition consideration less the net asset value of the acquiree.

(3)

The pro forma adjustment is to record the higher amortization expense resulted from the revalued patent and land use right.

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