SANTA MONICA, Calif., Nov. 15 /PRNewswire-FirstCall/ -- Aida
Pharmaceuticals, Inc. (OTC:AIDA) (BULLETIN BOARD: AIDA) today
announced that it has filed its form 10Q for the period ended
September 30, 2007. Net revenues totaled $7,373,770 for the quarter
ended 9/20/07, an increase of 5% over the same period in 2006.
Gross profit decreased by 2.66% due to an increase in Costs of
Goods Sold. Most notably, sales from Aida's transfusion and
injection forms of etimicin sulfate increased markedly. Gross
profit margins for Aida remained very strong, decreasing slightly
from 55.81% to 51.75%. Aida management expects the decrease in
profits to be temporary. The Chinese pharmaceutical industry is in
a state of transition due to policy changes by China's State Food
and Drug Administration (SFDA). The new medicine tender system for
hospitals in some areas in 2007 requires hospitals to purchase
medicines and drugs directly from pharmaceutical manufacturers
rather than distributors, which resulted in sales returns from some
distributors. Aida has proactively and rapidly revised its
distribution channels and is ready to compensate for the national
policy changes. Aida also expects a strong showing from the new
drugs in its pipeline that are coming to market in the coming
quarters. Aida expects that these drugs will ease Aida's reliance
on etimicin sulfate as a revenue generator and lessen the
fluctuation in the Company's performance. About Aida
Pharmaceuticals Aida Pharmaceuticals is a product-focused
pharmaceuticals company engaged in the formulation, clinical
testing, registration, manufacture, sales and marketing of advanced
pharmaceutical and genetic products in mainland China. The
Company's mission is to discover, develop and market meaningful new
therapies that improve human health. Aida Pharmaceuticals, in
operation since March 1999, is headquartered in Hangzhou, China
with manufacturing, distribution and sales points throughout
mainland China. Aida is GMP certified in China and ISO9002
certified for quality assurance and ISO14000 certified for
ecologically-friendly practices. Safe Harbor Statement Under The
Private Securities Litigation Reform Act of 1995: Except for
historical information contained herein, the statements in this
news release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Act of
1995. Forward-looking statements involve known and unknown risks
and uncertainties, which may cause a company's actual results,
performance and achievement in the future to differ materially from
forecasted results, performance, and achievement. These risks and
uncertainties are described in the Company's periodic filings with
the Securities and Exchange Commission. The Company undertakes no
obligation to publicly release the results of any revisions to
these forward-looking statements that may be made to reflect events
or circumstances after the date hereof, or to reflect the
occurrence of unanticipated events or changes in the Company's
plans or expectation AIDA PHARMACEUTICALS, INC. (FORMERLY BAS
CONSULTING, INC.) AND SUBSIDIARIES CONDENSED CONSOLIDATED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) FOR THE
THREE MONTHS FOR THE NINE MONTHS ENDED ENDED SEPTEMBER 30,
SEPTEMBER 30, 2007 2006 2007 2006 REVENUES, (NET) $7,373,770
$7,023,891 $18,687,283 $19,659,235 COST OF GOODS SOLD (3,557,685)
(3,103,516) (9,740,952) (9,679,567) GROSS PROFIT 3,816,085
3,920,375 8,946,331 9,979,668 Selling and distribution 1,387,818
1,175,000 3,515,776 4,728,989 General and administrative 991,216
1,306,226 3,006,799 2,896,205 Research and development 74,514
45,323 238,159 45,111 INCOME FROM OPERATIONS 1,362,537 1,393,826
2,185,597 2,309,363 OTHER INCOME (EXPENSES) Interest expense, net
(465,282) (459,511) (1,180,813) (1,114,105) Government grants
46,131 551,420 95,998 1,097,724 (Loss) gain on sales of investment
(10,457) -- (10,457) 12,490 Gain on sale of marketable securities
-- -- 120,356 -- Other income (loss), net (3,478) (77,358)
(122,876) (120,734) INCOME BEFORE INCOME TAXES 929,451 1,408,377
1,087,805 2,184,738 INCOME TAXES (153,182) (217,720) (191,349)
(445,047) INCOME BEFORE MINORITY INTERESTS 776,269 1,190,657
896,456 1,739,691 MINORITY INTERESTS (257,208) (271,372) (563,068)
(413,018) NET INCOME 519,061 919,285 333,388 1,326,673 OTHER
COMPREHENSIVE INCOME Foreign currency translation gain 30,098
73,643 492,663 160,785 OTHER COMPREHENSIVE INCOME BEFORE INCOME
TAXES 30,098 73,643 492,663 160,785 INCOME TAXES RELATED TO OTHER
COMPREHENSIVE INCOME (7,946) (24,302) (130,063) (54,012) OTHER
COMPREHENSIVE INCOME, NET OF INCOME TAXES 22,152 49,341 362,600
106,773 COMPREHENSIVE INCOME $541,213 $968,626 $ 695,988 $1,433,446
WEIGHTED AVERAGE SHARES OUTSTANDING BASIC AND DILUTED 27,000,000
25,000,000 27,000,000 25,000,000 NET INCOME PER COMMON SHARE, BASIC
AND DILUTED $0.02 $0.04 $0.01 $0.05 DATASOURCE: Aida
Pharmaceuticals, Inc. CONTACT: Ashley Hull of ProPublic Media, LLC,
+1-310-903-6858, , for Aida Pharmaceuticals, Inc.
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