219,751Bank acceptance21,212219,751Accounts payable20,013,15713,598,744Accrued salary568,887218,546Income taxes payable1,177,439944,143Other taxes payable551,060552,560Other accrued liabilities362,879161,825Due to related party882,5052,665,768Total current liabilities25,549,28918,581,088Stockholders' equity:Common stock, par value, $ 0.001 per share, 100,000,000 shares authorized, 26,000,000 and 19,094,000 issued and outstanding in 2010 and 2009, respectively.26,00019,094Additional paid-in capital9,200,6232,489,129Statutory surplus reserves1,310,7011,310,701Retained earnings6,546,4066,206,903Accumulated other comprehensive income544,434233,997Total stockholders' equity17,628,16410,259,824Total liabilities and stockholders' equity$43,177,453$28,840,912GLOBAL PHARM HOLDINGS GROUP, INC.CONSOLIDATED STATEMENTS OF CASH FLOWSFOR YEARS ENDED DECEMBER 31, 2010 AND 200920102009Cash flows from operating activitiesNet Income$
10,901,402Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization68,16850,392Loss on disposal of property, plant and equipment4,711-Stock-based compensation5,968,400-Merger cost750,000-Changes in operating assets and liabilities:Accounts receivable(7,447,036)(3,145,877)Other receivables(164,805)(22,781)Prepaid expenses(1,127,002)-Inventories(6,185,205)(2,195,407)Accounts payable5,775,6312,526,380Accrued payroll333,57970,527Other accrued liabilities190,175138,725Income taxes payable194,516236,928Other taxes payable(20,569)139,620Due to related party908,0571,463,979Restricted cash(1,497,838)-Net cash provided by operating activities8,902,92410,163,888Cash flows from investing activitiesPurchases of property, plant and equipment(107,952)(155,971)Proceeds on sale of property, plant, and equipment61,436-Net cash used in inves
|SOURCE Global Pharm Holdings Group, Inc.|
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