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Golden Dragon Holdings, Inc. and Subsidiary
Unaudited Consolidated Balance Sheet
As of June 30, 2009
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ASSETS
CURRENT ASSETS
Cash and cash equivalents $22,028
Accounts receivable 1,472
Inventories 62,261
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TOTAL CURRENT ASSETS 85,761
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PROPERTY AND EQUIPMENT, NET 39,716
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TOTAL ASSETS $125,477
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LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable 93,860
Settlement payable 50,000
Salary payables 162,500
Shareholders loan 87,355
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TOTAL CURRENT LIABILITIES 393,715
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STOCKHOLDERS' (DEFICIT)
Preferred stock ($.001 par value, 5,000,000 authorized:
none issued and outstanding) -
Common stock ($.001 par value, 3,000,000,000 shares authorized:
1,758,834,775 shares issued and outstanding) 1,758,835
Additional paid-in-capital (1,122,494)
Accumulated deficit (904,579)
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TOTAL STOCKHOLDERS' (DEFICIT) (268,238)
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TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) $125,477
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The accompanying notes are an integral part of the financial statements
"Investor confidence and company transparency is one of our top priorities at GDHI, though the number are not currently positive ones, it does however show a positive increase from last year to date, we are confidante in the direction the company is following to reaching its goal of benign cash positive by year end 2010. We will be working with our legal advisers to finish the proper legal documentation to have the company reach its PS status in the pinksheets. Our appreciation is with our long term shareholders and partners, as well as new shareholders that have taken noticed of the GDHI's growth and accomplishments," stated Mr. Frank Yglesias CEO of Golden Dragon Holdings, Inc.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
SOURCE Golden Dragon Holdings, Inc.
http://www.gdfbhk.com
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