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China Pharma Holdings, Inc. Reports Full Year 2009 Financial Results
Date:3/5/2010

(1,816,785) 1,847,806 Stock-based compensation 41,804 123,794 Changes in assets and liabilities: Trade accounts receivable (13,366,578) (17,778,209) Other receivables 136,587 265,813 Advances to suppliers 1,240,118 (87,978) Inventory (1,060,083) 2,243,138 Deferred tax assets 142,846 (257,447) Trade accounts payable 3,044,387 720,659 Accrued expenses (8,775) (219,301) Accrued taxes payable 355,587 825,119 Other payables 15,274 (48,072) Other payables-related parties -- (52,804) Advances from customers 342,607 407,617 Net Cash Provided by Operating Activities 10,668,926 6,543,260 Cash Flows from Investing Activities Purchase of property and equipment (143,082) (4,310,690) Construction in progress -- -- Purchase of intangible assets (12,154,561) (4,184,080) Advances for intangible assets and property and equipment (3,063,066) (1,946,479) Net Cash Used in Investing Activities (15,360,709) (10,441,249) Cash Flows from Financing Activities Proceeds from exercise of warrants 70,001 -- Proceeds from sale of common stock -- 9,268,938 Proceeds from short-term notes payable 3,800,681 2,441,739 Payments of short-term notes payable (2,485,060) (2,829,545) Net Cash P
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