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AdCare Health Systems, Inc. Reports 2009 Third Quarter Earnings Results; Third Consecutive Profitable Quarter
Date:11/16/2009

(24,680) Other assets 95,653 (121,132) Accounts payable and accrued expenses (261,328) 208,151 Income tax liability 31,925 31,925 Other liabilities 271,377 (88,317) ------- ------- Net cash provided by operating activities 1,561,445 152,407 Cash flows from investing activities: Distribution to noncontrolling interest - (50,000) Proceeds from the sale of assets, net of associated costs 892 2,500 Increase in restricted cash 47,950 77,639 Restricted cash received upon acquisition of assets - 19,813 Assets transferred to noncontrolling interest upon acquisition - (6,651) Purchase of property plant and equipment (343,245) (286,689) -------- -------- Net cash used in investing activities (294,403) (243,388) Cash flows from financing activities: Proceeds from notes payable - 2,287,127 Stock issuance 30,000 - Repayment of notes payable to stockholder (5,878) (760,000) Prepaid financing costs - 159,130 Repayment of notes payable (526,109) (560,587) -------- -------- Net cash (used in) provided by financing activities (501,987) 1,125,670 Net Increase in Cash 765,055
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SOURCE AdCare Health Systems, Inc.
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