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Biostar Pharmaceuticals, Inc. Announces Second Quarter 2009 Financial Results
Date:8/14/2009

-- (276,775) Prepaid expenses and other receivables (2,799,533) (336,134) Accounts payable and accrued expenses 103,336 992,489 Customer and other deposits 109,774 17,218 VAT tax payable 390,657 102,520 Income tax payable 946,113 46,484 Net cash provided by (used in) operating activities 1,188,691 (1,673,872) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (439) (21,778) Net cash provided by (used in) Investing activities (439) (21,778) CASH FLOWS FROM FINANCING ACTIVITIES Net cash provided by (used in) financing activities -- -- Effect of exchange rate changes on cash and cash equivalents 128 103,769 Net Increase (Decrease) in cash and cash equivalents 1,188,380 (1,591,881) Cash and cash equivalents, beginning balance 758,316 2,286,419 Cash and cash equivalents, ending balance $1,946,696 $694,538 SUPPLEMENTAL DISCLOSURES: Interest payments $-- $29,344 Income tax payments $480,620 $482,992
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SOURCE Biostar Pharmaceuticals, Inc.
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