CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
Six months endedSeptember 30, | ||||||
2018 | 2017 | |||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net loss | $ | (2,299,330) | $ | (2,588,013) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Bad debt direct write-off and provision | 890,576 | 1,241,159 | ||||
Depreciation and amortization | 557,930 | 590,618 | ||||
Stock based compensation | 71,427 | 689,372 | ||||
Change in fair value of purchase option derivative liability | 88,840 | (198,751) | ||||
Accounts receivable, trade | (833,992) | (2,138,968) | ||||
Notes receivable | 32,528 | (49,387) | ||||
Inventories and biological assets | (1,587,645) | (789,355) | ||||
Other receivables | (800,686) | (39,756) | ||||
Advances to suppliers | (611,849) | 958,032 | ||||
Other current assets | 469,985 | (180,048) | ||||
Long term deposit | 18,851 | (813,282) | ||||
Other noncurrent assets | (139,597) | (106,981) | ||||
Accounts payable, trade | (603,967) | 2,911,679 | ||||
Other payables and accrued liabilities | 1,305,221 | (181,932) | ||||
Customer deposits | 773,748 | 308,252 | ||||
Taxes payable | (253,496) | (133,285) | ||||
Net cash used in operating activities | (2,921,456) | (520,646) | ||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Disposal of financial assets available for sale | 88,897 | (73,915) | ||||
Purchase of financial assets available for sale | (91,099) | - | ||||
Acquisition of equipment | (142,681) | (212,358) | ||||
Increase in construction-in-progress | - | (473,716) | ||||
Increase intangible assets | - | (298,617) | ||||
Investment in a joint venture | - | (9,387) | ||||
Additions to leasehold improvements | (244,047) | (27,986) | ||||
Net cash used in investing activities | (388,930) | (1,095,979) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Change in restricted cash | (1,947,655) | (503,908) | ||||
Proceeds from notes payable | 16,177,514 | 12,664,216 | ||||
Repayment of notes payable | (18,290,325) | (12,929,115) | ||||
Proceeds from equity and debt financing | 7,667 | - | ||||
Repayment of other payables-related parties | (84,543) | (88,698) | ||||
Net cash used in financing activities | (4,137,342) | (857,505) | ||||
EFFECT OF EXCHANGE RATE ON CASH | (762,555) | 947,579 | ||||
INCREASE IN CASH | (8,210,283) | (1,526,551) | ||||
CASH, beginning of year | 15,132,640 | 18,364,424 | ||||
CASH, end of year | $ | 6,922,357 | $ | 16,837,873 | ||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||
Cash paid for income taxes | $ | 57,460 | $ | 42,689 | ||
