Accrued taxes payable 602,480 --
Other payables (48,535) (134,647)
Advances from customers 386,922 47,448
Net Cash from Operating Activities 4,026,464 (817,368)
Cash Flows from Investing Activities:
Purchase of property and equipment (125,753) (77,313)
Purchase of intangible assets (428,641) (1,993,288)
Advances for purchases of intangibles (5,856,412) --
Net Cash from Investing Activities (6,410,806) (2,070,601)
Cash Flows from Financing Activities:
Proceeds from sale of common stock
and warrants 9,268,938 3,797,183
Payments of short term notes payable (2,814,744) --
Net Cash Proceeds from Financing
Activities 6,454,194 3,797,183
Effect of Exchange Rate Changes on
Cash (61,509) 149,995
Net Change in Cash 4,008,343 1,059,209
Cash and Cash Equivalents at
Beginning of Period 1,830,335 656,441
Cash and Cash Equivalents at End of
Period $5,838,678 $1,715,650
Supplemental Cash Flow Disclosure:
Cash paid for interest $130,342 $115,841
Cash paid for income taxes 1,289,596 --
Safe Harbor Statement
Certain statements in this press release and oral statements made by
China Pharma on its conference call in relation to this release, constitute
forward- looking statements for purposes of the safe harbor provisions
under The Private Securities Litigation Reform
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