Date:8/11/2011

xpenses266,666(31,448)Accrued taxes payable905,113(233,065)Other payables(8,947)1,014Advances from customers154,239(17,231)Net Cash Provided by Operating Activities3,607,0893,281,479Cash Flows from Investing Activities:Net investment in banker's acceptances(234,921)-Advances for purchases of property and equipment and intangible assets(902,986)(2,018,906)Purchase of property and equipment(223,769)(108,842)Purchase of intangible assets(1,531,018)(2,852,168)Net Cash Used in Investing Activities(2,892,694)(4,979,916)Cash Flows from Financing Activities:Proceeds from related party loan187,919-Proceeds from exercise of warrants-2,583,000Net Cash Provided by Financing Activities187,9192,583,000Effect of Exchange Rate Changes on Cash93,2578,799Net Increase in Cash and Cash Equivalents995,571893,362Cash and Cash Equivalents at Beginning of Period3,692,0863,634,753Cash and Cash Equivalents at End of Period$
4,687,657$
4,528,115Supplemental Cash Flow Information:Cash paid for interest$
8,347$
2,121Cash paid for income taxes617,5442,906,168
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SOURCE China Pharma Holdings, Inc. Copyright©2010 PR Newswire. All rights reserved

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