7,741,716 Adjustments to reconcile net income to cash provided by operating
activities:Change in fair value of warrants15,413-IR warrant expense52,170-Depreciation and amortization1,019,1881,004,386Share-based compensation expense219,89125,000Loss from disposal of fixed assets 102,675- (Increase) decrease in assets:Accounts receivable (38,204)68,574Inventories(227,528)552,874Prepayments and other receivables1,406(237,020)Increase (decrease) in liabilities:Accounts payable122,243(2,345)Other payables and accruals275,183(19,890)Taxes payable358,768200,193Due to related parties-(8,998)Net cash provided by operating activities15,345,3849,324,490CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property, plant and equipment(421,638)(49,155) Proceeds from disposal of fixed assets203,086-Net cash used in investing activities(218,552)(49,155)CASH FLOWS FROM FINANCING ACTIVITIES: Net proceeds from Private Placement 5,483,9192,500,000 Increase in restricted cash (193,075)- Advances from related parties -49,773 Repayment of acquisition payable-(50,269) Repayment of payables for intangible asset(886,328)(878,349)Net cash provided by financing activities4,404,5161,621,155 Foreign currency translation adjustment1,111,82320,944INCREASE IN CASH AND CASH EQUIVALENTS20,643,17110,917,434CASH AND CASH EQUIVALENTS, at the beginning of the year20,115,6779,198,243CASH AND CASH EQUIVALENTS, at the end of the year$ 40,758,848$20,115,677NON-CASH TRANSACTIONS Share-based payment to employees under equity incentive plan
25,000 Share-based payment – IR warrants
|SOURCE Nutrastar International Inc.|
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