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used to calculate fully diluted earnings per share
SKYSTAR BIO-PHARMACEUTICAL COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2007 AND 2006
2007 2006
Unaudited Unaudited
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income $(222,409) $637,235
Adjustments to reconcile net (loss) income
to cash provided by (used in) operating
activities:
Depreciation and amortization 90,407 53,541
Amortization of deferred debenture expenses 163,504 -
Amortization of discount on debentures 592,020 -
Amortization of deferred compensation 462,274 341,145
(Increase) decrease in assets:
Accounts receivable, trade (174,979) (256,661)
Inventories (426,349) (1,066,392)
Deposits and prepaid expenses (511,768) (2,868)
Other receivables 26,339 (6,686)
Increase (decrease) in liabilities:
Accounts payable (216,460) 4,750
Accrued expenses and other payables 198,368 37,146
Taxes payables (385,801) 567,416
Liquidated damage payable 141,267 -
Net cash (used in) provided by operating
activities (263,586) 308,626
CASH FLOWS FROM INVESTING ACTIVITIES:
Increase in amount of interest - bearing loans
to third parties
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SOURCE Skystar Bio-Pharmaceutical Co.![]() Copyright©2007 PR Newswire. |