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Diluted $ 0.21 $ 0.22 $ 0.17
CHINA BIO ENERGY HOLDING GROUP CO., LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
For The Years Ended December 31,
2007 2006 2005
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $8,579,565 $5,343,579 $4,141,087
Adjustments to
reconcile net income
to net cash provided
by operating
activities:
Depreciation 228,833 104,443 65,861
Bad debt expenses -- 28,930 --
(Increase) decrease
in current assets:
Accounts receivable 5,644,946 (3,607,785) 734,378
Other receivable
and prepaid expenses (4,099,356) (143,252) 299,071
Advance to suppliers (11,484,067) (1,826,306) (4,129,702)
Inventory (4,098,099) (1,791,200) (460,985)
Due from related party (245,852) (37,756) (528,426)
Advance to shareholders -- -- --
Increase (decrease) in
current liabilities:
Accounts payable (1,889,778) 1,226,872 1,040,244
Advance from customers 87,896 (83,033) (1,456,698)
Taxes payable (643,780) 752,253 (56,980)
Other payables and
accrued expenses 2,811,389 53,803 130,706
Net cash provided by (used in)
operating activities (5,108,303) 20,548 (221,444)
CASH FLOWS FROM INVESTING
ACTIVITIES:<
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| SOURCE China Bio Energy Holding Group Co., Ltd. Copyright©2008 PR Newswire. All rights reserved |