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SOKO Fitness & Spa Group Reports Quarterly Earnings Growth Over Fiscal 2009 First Quarter
Date:10/15/2009

$2,427,604 $1,443,341 Adjustments to reconcile net income to net cash provided by operating activities: Stock based compensation 7,660 18,651 Depreciation and amortization 564,191 340,255 Minority interest (125,767) (75,880) Liquidated damage penalty -- 55,610 Changes in operating assets and liabilities: Restricted cash 7,228 -- Accounts receivable (100,774) 225,752 Inventories (16,752) (71,190) Advances to suppliers 1,469 (418,253) Employee advance 48,436 27,741 Other receivables 96,856 38,592 Prepaid expense 50,901 101,098 Security deposit (93,087) (111,113) Deferred Rent (84,250) -- Deposit to suppliers -- (131) Accounts payable (1,102) -- Unearned revenue 4,303,014 1,129,713 Taxes payable (5,476) 58,600 Accrued expenses and other payables 36,360 (299,881) Cash provided by operating activities 7,116,513 2,462,905 Cash Flows From Investing Activities: Addition in construction in progress (5,709,094) (1,356,563) Purchase of property and equipment (184,055) (193,854) Cash acquired from acquisition 65,265 97,325 Cash used in investing activities (5,827,
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SOURCE SOKO Fitness & Spa Group, Inc.
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