ome
from operations to net cash provided
by (used in) operating activities:
Depreciation and amortization 634,347 564,607
Amortization of deferred debt
issuance costs 361,062 205,379
Interest expense 1,170,959 1,458,484
Amortization of prepaid expense
attributable to warrants 163,338 --
Stock based compensation 318,551 284,200
Warrant repricing 74,593 --
(Decrease) increase in allowance for
doubtful accounts (575,781) (2,385,354)
Forgiveness of income and value-added
taxes -- (2,160,795)
Changes in assets and liabilities:
Accounts receivable 16,001,384 (9,764,076)
Inventories (145,910) (58,942)
Prepaid expenses and other current
assets 939,654 (714,013)
Accounts payable and accrued expenses 1,360,568 27,266
Taxes payable 4,336,947 608,526
Unearned revenue -- 71,402
Advances from customers (36,276) (204,267)
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES 37,394,084 (850,455)
CASH FLOWS FROM INVESTING ACTIVITIES:
Deposit on patent right (2,872,635) --
Installment on intangible assets (37,582,678) --
Purchase of intangible asset (7,756) --
Purchase of property and equipment (1,438,419) (381,772)
NET CASH PROVID
'/>"/>SOURCE Lotus Pharmaceuticals, Inc. Copyright©2009 PR Newswire. All rights reserved | |
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