SinoBiomed Inc.: Negative Financials; Vibrant Development Program

August, 21, 2008 -- Sinobiomed (OTCBB: SOBM) has issued a number of press releases in recent days, each detailing the company’s progress in developing a new drug. But its financial reports are harder to find. You can’t really blame them: the company’s financial situation is dismal, so who would want to talk about that? Sinobiomed’s hope is that one of its products in development will turn its fortunes around sometime in the very near future. Meanwhile, the company is scraping along, depending on short-term financial patches to keep bankruptcy at bay. More details...