China Sky One Medical, Inc. Announces Record First Quarter 20...(Accounts payable and accrued liabilities...)
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Accounts payable and accrued liabilities (456,219) 765,133
Advances by customers -- (67,541)
Wages payable 94,178 38,920
Welfare payable (8,337) 13,147
Taxes payable 102,786 29,775
Deferred revenue (6,952) --
Net cash provided by operating activities 5,197,579 561,677
Cash flows from investing activities
Purchases of fixed assets (42,782) (693,667)
Land deposit (710,656) --
Purchase of subsidiary-Heilongjiang
Haina Pharmaceutical, Inc. (427,838) --
Cash of subsidiary upon acquisition 82,715 --
Purchase of intangible assets (7,139) (66,239)
Net cash used in investing activities (1,105,700) (759,906)
Cash flows from financing activities
Sale of common stock for cash 25,000,000 --
Board and syndication costs (1,512,037) --
Proceeds from warrants conversion 739,588 --
Proceeds from short-term loan -- 5,124
Net cash provided by (used in)
financing activities 24,227,551 5,124
Effect of exchange rate 727,694 316,552
Net increase in cash 29,047,124 123,447
Cash and cash equivalents at
beginning of year 9,190,870 6,586,800
Cash and cash equivalents at end of
period $38,237,994 $6,710,247
Supplemental disclosure of ca
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| SOURCE China Sky One Medical, Inc. Copyright©2008 PR Newswire. All rights reserved |
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