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home / news releases / CPHI - Audit finds 'substantial doubt' about China Pharma's future; shares plummet 43%

CPHI - Audit finds 'substantial doubt' about China Pharma's future; shares plummet 43%

China Pharma Holdings Inc.
An audit opinion issued by an independent accounting firm says that current liabilities and accumulated deficits have raised "substantial doubt" about China Pharma's (CPHI) ability to continue.The company's full-year 2020 results, released yesterday, showed GAP EPS of -$0.07 and total revenue of ~$10.9M.The company's bad debt expenses for 2020 was $115,186 compared to $3,153 in 2019.China Pharma shares plummeted 43.1% to $1.19 in after-hours trading on Friday.

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Audit finds 'substantial doubt' about China Pharma's future; shares plummet 43%
Stock Information
Company Name: China Pharma Holdings Inc.
Stock Symbol: CPHI
Market: NYSE
Website: chinapharmaholdings.com
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