Date:2/14/2013

3,726Changes in current assets and current liabilities:Accounts receivable786,04546,185Inventory(1,099,581)908,557Advance payments642,6021,662,080Other current assets(14,137)(154,593)Accounts payable and accrued expenses(319,349)608,143Accounts payable – construction related(329,684)(579,391)Trade notes payable(4,679,585)2,665,260Income tax payable(137,967)(345,177)Other taxes payable(32,854)(386,642)Other current liabilities(33,539)(31,265)Total adjustments(4,028,670)4,725,904Net cash provided by(used in)
operating activities(659,687)7,914,691Cash flows from investing activities:Additions to property and equipment(1,002,716)(2,836)Proceeds from disposal of fixed assets-377,164Advance payments – construction and equipment(5,298,242)-Additions of construction in progress(6,123,118)(136,400)Acquisition of subsidiary–Hengshuo (HSP)(206,219)-Additions to intangible assets – approved drugs-(768,222)Additions to intangible assets – land use right-(1,822,780)Net cash used in investing activities(12,630,295)(2,353,074)Cash flows from financing activities:Restricted cash3,537,449(3,104,244)Proceeds from short-term bank loans-1,567,800Net cash provided by(used in) financing activities3,537,449(1,536,444)Effect of foreign currency translation on cash39,8911,158,325Net increase(decrease) in cash and cash equivalents(9,712,642)5,183,498Cash and cash equivalents – beginning35,152,29531,724,906Cash and cash equivalents – ending$25,439,653$36,908,404Supplemental disclosures of cash activitiesCash paid for interest$

221,872$

132,775Cash paid for income taxes$

1,390,391$

1,560,653For more information, please contact:
Investors Contact: ir@tpi.asia
Web: http://www.tianyinpharma.com
Tel: +86-28-8551-6696 (Chengdu, China)
+86-134-36-550011 (China)

Address:
23rd Floor Unionsun Yangkuo Plaza
No. 2, Blo
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SOURCE Tianyin Pharmaceutical Co., Inc. Copyright©2012 PR Newswire. All rights reserved

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