607,500
Amortization of stock option
compensation 154,470 86,521
Amortization of deferred expenses 325,687 --
Loss from investment -- 110,982
Change in operating assets and
liabilities
Accounts receivable, trade (5,879,829) (4,514,763)
Inventories (1,840,170) (498,624)
Advances to suppliers (2,535,589) (2,933,832)
Other current assets (34,728) (129,096)
Accounts payable, trade (120,129) 17,275
Other payables - related parties (30,000) 30,000
Other payables and accrued
liabilities 45,119 (73,246)
Customer deposits 176,763 (19,140)
Taxes payable 145,730 121,850
Liquidated damages payable -- 44,003
Net cash used in operating
activities (2,310,113) (2,218,208)
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchase of equipment (389,588) (825,787)
Purchase of intangible asset -- (703)
Net cash used in investing
activities (389,588) (826,490)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Payments on short-term loans -- (94,094)
Proceeds from issuance of preferred
stock -- 3,783,000
Payments for reverse acquisition -- (32,398)
Proceeds from ex
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SOURCE China Medicine Corporation Copyright©2008 PR Newswire. All rights reserved | |
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