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Dehaier Medical Announces Record Second Quarter 2011 Financial Results
Date:8/15/2011

ther receivables2,810(1,266,137)   Decrease (Increase) in inventories96,299(837,443)   Increase in tax receivable(911,942)(563,918)   Increase (Decrease) in accounts payable1,153,882(77,095)   Decrease in advances from customers(116,220)(81,647)   Increase in accrued expenses and other current liabilities9,502159,880   Increase in tax payable2,022,8121,118,579Net cash used in operating activities(3,356,331)(4,622,473)Cash flows from investing activitiesCapital expenditures and other additions(62,302)(94,397)Advances to related parties(2,358)(3,861)Net cash used in investing activities(64,660)(98,258)Cash flows from financing activitiesProceeds from bank loan1,542,680-Repayment of bank loan(1,533,604)-Net proceeds from issuance of common shares-9,944,207Net cash provided by financing activities9,0769,944,207Effect of exchange rate fluctuations on cash and cash equivalents 496,552164,812Net (decrease) increase in cash and cash equivalents(2,915,363)5,388,288Cash and cash equivalents at beginning of period5,923,3861,151,721Cash and cash equivalents at end of period3,008,0236,540,009Supplemental cash flow informationIncome tax paid13,26024,604Interest paid26,99326,728The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
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