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Tiens Biotech Group (USA) Reports First Quarter Results
Date:5/17/2010

-- 1,372 Gain on sale of assets (15,082) (11,652) Rental expense borne by a related party 81,749 81,626 (Increase) decrease in assets: Accounts receivable, trade - related parties 4,933,543 (1,493,130) Other receivables 93,577 (17,415) Other receivables - related parties (1,200,159) (2,567,169) Inventories 304,560 1,398,175 Employee advances 13,935 (76,407) Prepaid expense 64,017 (589,907) Increase (decrease) in liabilities: Accounts payable (819,926) (567,056) Advances from customers - related parties 4,034,448 1,364,661 Wages and benefits payable (416,798) (393,303) Other taxes payable 550,140 (270,424) Other payables 19,487 (565,726) Other payables - related parties 1,079,414 106,916 Net cash provided by operating activities 13,029,773 5,857,746 CASH FLOWS FROM INVESTING ACTIVITIES: Investment in Life Resources 3,000,000 -- Proceeds from disposal of a subsidiary 700,000 -- Construction deposits (562,642) (1,163,628) Contractor deposits -- 48,930 Addition to construction in progress (9,112,590) (4,483,010) Equipment deposits (1,558,192) -- Proceeds from sales of proper
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SOURCE Tiens Biotech Group (USA), Inc.
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