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China Bio Energy Reports Fourth Quarter and Record 2008 Financial Results
Date:3/23/2009

d cash (718,768) 457,811 Notes payable - trade -- -- Notes payable - related party -- -- Proceeds from short-term loans 719,942 269,531 Repayment of short term loan -- (1,577,744) Proceeds from long-term payables -- -- Repayment of auto loans long term notes payable (54,375) (4,235) Proceeds from issuance of preferred stock 9,000,000 9,774,993 Proceeds from warrants exercised 5,113,635 -- Capital contribution -- 3,905,724 Advance to shareholder -- -- Repayment from shareholder -- 22,617 Net cash provided by financing activities 14,060,434 12,848,697 EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS 222,069 (180,293) NET INCREASE IN CASH AND CASH EQUIVALENTS 21,736,657 750,928 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,382,371 631,443 CASH AND CASH EQUIVALENTS, END OF YEAR $23,119,028 $1,382,371 Supplemental Cash flow data: Income tax paid $ -- $ -- Interest paid $125,201 $137,463 CHINA BIO ENERGY HOLDING GROUP CO., LTD. AND SUBSIDIARIES CONSOLIDATED PROFIT AND LOSS STATEMENTS For The Three Months Ended December 31,
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SOURCE China Bio Energy Holdings Group
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