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Tianyin Pharmaceutical Co., Inc. Reports Record Fiscal 2009 Financials With $7.9 Million in Net Income
Date:9/24/2009

2009 2008 Cash flows from operating activities: Net Income $7,907,610 $5,971,308 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation and amortization 676,605 372,612 Loss on intangible assets 431,344 -- Provision for bad debts 81,512 51,995 Stock based compensation 249,026 68,000 Changes in current assets and current liabilities: Accounts receivable (1,223,282) (994,310) Inventory (237,975) (1,400,366) Other receivables (253,595) (209,556) Other current assets 190,890 (246,952) Accounts payable and accrued expenses 49,867 31,336 VAT taxes payable 180,701 41,771 Income tax payable 147,897 2,228 Other taxes payable (28,213) 13,521 Other current liabilities 164,611 7,330 Total adjustments 429,388 (2,262,391) Net cash provided by operating activities 8,336,998 3,708,917 Cash flows from investing activities: Additions to property and equipment (58,014) (211,065) Additions to construction in progress (4,179,902) (757,295) Additions to intangible assets-drug (2,417,250) (3,702,484) Advance payments for intangible assets-drug (1,188,115) -- Net cash used in investing a
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SOURCE Tianyin Pharmaceutical Co., Inc.
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