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China Bio Energy Reports Fiscal 2007 Financial Results
Date:4/1/2008

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Restricted cash for

investing activity (200,000) -- --

Sale of investment -- 37,175 --

Acquisition of property

and equipment (6,809,173) (412,717) (19,659)

Construction in progress -- (515,742) --

Net cash provided by

(used in) investing

activities (7,009,173) (891,284) (19,659)

CASH FLOWS FROM FINANCING

ACTIVITIES:

Repayment from / (Advance

to) shareholder 22,617 (738) (12,790)

Repayment of short term

loan (1,577,744) -- --

Proceeds from short term

loan 269,531 1,019,231 --

Repayment of long term

notes payable (4,235) -- (21,800)

Proceeds from long term

notes payable -- 89,697 --

Issuance of preferred

stock 9,774,993 -- --

Capital contribution 3,905,724 -- --

Notes payable - trade -- (743,494) 743,494

Notes payable -

related party -- 290,726 (713,912)

Restricted cash 657,811 225,977 (14,791)

Net cash provided by

(used in) financing

activities 13,048,697 881,399 (19,799)

NET INCREASE (DECREASE) IN

CASH AND CASH EQUIVALENTS 931,221 10,663 (260,902)

EFFECT OF EXCHANGE RATE CHANGE

ON CASH AND CASH EQUIVALENTS (180,293) 464,099 128,033

CASH AND CASH EQUIVALENTS,

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SOURCE China Bio Energy Holding Group Co., Ltd.
Copyright©2008 PR Newswire.
All rights reserved

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