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China Sky One Medical, Inc. Announces Record Third Quarter 2008 Results
Date:11/10/2008

are payable (44,337) 54,232

Taxes payable 2,475,042 1,238,456

Deferred revenue (24,504) --

Net cash provided by operating

activities 26,688,531 10,210,212

Cash flows from investing activities

Purchases of fixed assets (784,137) (280,168)

Land deposit -- (7,780,234)

Increase in construction in progress -- (2,056,063)

Purchases of subsidiaries (10,917,280) --

Purchase of intangible assets (7,139) (54,095)

Net cash used in investing activities (11,708,556) (10,170,560)

Cash flows from financing activities

Sale of common stock for cash, net

of offering costs 23,487,963 --

Proceeds from warrants conversion 1,044,169 116,256

Proceeds from short-term loan -- (511,672)

Net cash provided by (used in)

financing activities 24,532,132 (395,416)

Effect of exchange rate 2,245,553 751,585

Net increase (decrease) in cash 41,757,660 395,821

Cash and cash equivalents at

beginning of period 9,190,870 6,586,800

Cash and cash equivalents at end of

period $50,948,530 $6,982,621

Supplemental disclosure of cash flow

information

Interest paid $135,136 $5,940

Taxes paid $5,512,860 $--

For more information, please contact:

Company Contact:


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SOURCE China Sky One Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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