Feihe Intl (NYSE:ADY)

Because of our deficiency of net current assets as of and significant net loss for the fiscal year ended December 31, 2010, we may not have sufficient cash to fund our expected cash flow requirements for the next 12 months including the maturity of our short-term loans, redemption of our redeemable common stock and planned capital expenditures. Therefore, our independent registered public accounting firm has included a reference in its report on our consolidated financial statements for the fiscal year ended December 31, 2010 referring to substantial doubt regarding our ability to continue as a “going concern.”