First China Pharmaceutical (FCPG) 8-K/A Completion of Acquisition or Disposition of Assets

Exhibit 99.1 (c)

FIRST CHINA PHARMACEUTICAL GROUP LIMITED

INTERIM BALANCE SHEETS

(Stated in US Dollars)

				As of
				June 30,
	Notes			2010
				$
ASSETS
Current Assets
Cash and cash equivalents					1,305
Restricted cash		2	(e)		-
Total current assets					1,305
Long-term Investment, net		6			294,470
TOTAL ASSETS					295,775
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Short-term borrowings		7			-
Other payable and accrued liabilities		8			295,883
Income tax payable					-
Total Current Liabilities					295,883
TOTAL LIABILITIES					295,883
COMMITMENTS AND CONTINGENCIES		13			-
STOCKHOLDERS’ EQUITY
Common stock		10			1,285
Authorized, issued and outstanding:
10,000 common shares, par value HK$1 per share
Retained earnings					(1,393	)
Accumulated other comprehensive income
- foreign currency translation adjustments					-
TOTAL STOCKHOLDER’S EQUITY					(108	)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY					295,775

FIRST CHINA PHARMACEUTICAL GROUP LIMITED

INTERIM STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Stated in US Dollars)

		Three months ended			Six months ended
		June 30,			June 30,
	Notes	2010			2010
		$			$
Net sales			-			-
Costs of sales			-			-
Gross profit			-			-
Selling expenses			-			-
Administrative expenses			(59	)		(59	)
Depreciation and amortization			-			-
Other (losses)/gains-			-			-
Other operating expenses			-			-
Income from operations			(59	)		(59	)
Interest income			-			-
Interest expense			(49	)		(49	)
Income before tax			(108	)		(108	)
Income tax			-			-
Net income			(108	)		(108	)
Other comprehensive income
- foreign currency translation adjustments			-			-
Comprehensive income			(108	)		(108	)

FIRST CHINA PHARMACEUTICAL GROUP LIMITED

INTERIM STATEMENTS OF SHAREHOLDERS’ EQUITY

(Stated in US Dollars)

	Common stock				Additional paid-in		Retained
	Shares		Amount		capital		earnings			Total
			$		$		$			$
Balance, April 29, 2010 (Incorporation date)		10,000		1,285		-		-			1,285
Net income		-		-		-		(108	)		(108	)
Deemed distribution of dividend		-		-		-		(1285	)		(1285	)
Balance, June 30, 2010		10,000		1,285		-	（1,393)				(108	)

FIRST CHINA PHARMACEUTICAL GROUP LIMITED

INTERIM STATEMENT OF CASH FLOWS

(Stated in US Dollars)

	From the date of incorporation
	to June 30,
	2010
	$
Cash Flows from Operating Activities
Net income		(108	)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		-
Changes in operating assets and liabilities:
Due from (to) a related party		(1,285	)
Other payables and accrued liabilities		295,883
Net cash used in operating activities		294,490
Cash Flows from Investing Activities
Long-term Investment		(294,470	)
Net cash used in investing activities		(294,470	)
Cash flows from financing activities
Capital Contribution		1,285
Decrease (increase) in restricted cash		-
Net cash provided by (used in) financing activities		1,285
Effect of foreign currency translation on cash and cash
equivalents		-
Net decrease in cash and cash equivalents		1,305
Cash and cash equivalents - beginning of period		-
Cash and cash equivalents - end of period		1,305
Supplemental disclosures for cash flow information:
Cash paid for:
Interest		-
Income taxes		-