0.04The accompanying notes are an integral part of these condensed consolidated financial statements.
CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED)Three months ended
June 30,20132012CASH FLOWS FROM OPERATING ACTIVITIES:Net (loss) income$
534,632Adjustments to reconcile net (loss) income to net cash provided by (used in)
operating activities:Depreciation and amortization588,936610,866Stock compensation27,33849,758Bad debt write-off and provision1,181,4781,114,673Change in fair value of purchase option derivative liability(12,665)158Change in operating assets:Accounts receivable, trade(190,989)(7,712,451)Notes receivable(290,214)(926,315)Inventories(398,271)(526,099)Other receivables(159,171)(236,873)Advances to suppliers(1,111,259)(2,859,522)Other current assets(782,304)17,561Long term deposit-355,151Other noncurrent assets49,586140,067Change in operating liabilities:Accounts payable, trade1,363,4295,201,905Other payables and accrued liabilities(570,952)650,956Customer deposits365,295695,089Taxes payable(2,212)67,114Net cash used in operating activities(729,734)(2,823,330)CASH FLOWS FROM INVESTING ACTIVITIES:Purchase of equipment(2,934)(216,454)Additions to leasehold improvements(3,958)(90,313)Payments on construction-in-progress(111,152)-Net cash used in investing activities(118,044)(306,767)CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from short-term bank loan161,230-Change in restricted cash(1,336,189)1,410,499Change in notes payable(166,196)1,396,914Change in other payables-related parties194,97399,996Net cash (used in) provided by financing activities(1,146,182)2,907,409EFFECT OF EXCHANGE RATE ON CASH181,265173,021DECREASE IN CASH(1,812,695)(49,667)CASH, beginning of period4,524,0943,833,216CASH, end of period$<
|SOURCE China Jo-Jo Drugstores, Inc.|
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