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Biostar Pharmaceuticals, Inc. Announces First Quarter 2010 Financial Results
Date:5/17/2010

(561,431) 66,487 Net cash provided by (used in) operating activities 579,611 (64,610) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment (281,542) -- Acquisition of proprietary technologies (265,153) -- Net cash used in investing activities (546,695) -- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issuance of common stock 37,537 -- Net cash provided by financing activities 37,537 -- Effect of exchange rate changes on cash and cash equivalents (5,739) 939 Net Increase (Decrease) in cash and cash equivalents 64,714 (63,671) Cash and cash equivalents, beginning balance 8,577,704 758,316 Cash and cash equivalents, ending balance $8,642,418 $694,645 SUPPLEMENTAL DISCLOSURES: Interest payments $-- $-- Income tax payments $1,423,006 $413,665 SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: Conversion of preferred stock to common stock $1,593 $-- Cashless exercise of warrants $815 $-- Prior year deposit paid for acquisition of property and equipment $438,851 $-- Payable for acquisition of property and equipment and intangible assets $197,483 $--


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