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Genesis Pharmaceuticals Reports Results for the Third Quarter of Fiscal Year 2008
Date:5/15/2008

on marketable

securities 1,150,516 --

Deferred compensation expense 28,750 --

Change in operating assets and

liabilities

Accounts receivable (7,246,740) (3,308,650)

Accounts receivable - related

parties (1,403,383) (245,420)

Notes receivables 59,790 (29,473)

Inventories 27,542 1,065,113

Other receivables (254,886) (937)

Other receivables - related

parties (81,384)

Advances to suppliers (488,064) (10,316)

Other assets 96,538 1,282,175

Accounts payable 1,159,105 (2,324,940)

Accrued liabilities 301,290 58,191

Other payables 2,146,659 (1,355,440)

Other payables - related parties (962,509) (592,232)

Liabilities from discontinued

operations (1,162,133) --

Taxes payable 10,006,057 2,011,128

Net cash provided by operating

activities 17,697,452 4,283,404

CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sale of marketable

securities 605,882 --

Payment for land use right (8,246,830) --

Purchase of equipment (401,302) (58,469)

Cash receipt from reverse

acquisition 534,
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SOURCE Genesis Pharmaceuticals Enterprises, Inc.
Copyright©2008 PR Newswire.
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