China Medicine Corporation said Q1 revenues rose 43% to $10.1 million while net income rose a more modest 11% to $1.3 million (non-GAAP) or 9 cents per share, fully diluted. A charge related to the fair value of warrants took GAAP earnings down to $.55 million, an eps of 4 cents. Investors were not impressed. Shares of China Medicine fell 17%, slipping 35 cents lower to $1.75 in mid-session. At this price, the company has a market capitalization of just $27 million. More details...

Stock Symbol: (OTCBB: CHME)