|
CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||||||
|
Nine months endedDecember 31, | ||||||
|
2017 |
2016 | |||||
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
||||||
|
Net income |
(4,213,842) |
(605,784) | ||||
|
Adjustments to reconcile net (loss) to net cash (used in) operating activities: |
||||||
|
Depreciation and amortization |
1,063,170 |
891,542 | ||||
|
Stock-based compensation |
976,816 |
1,907,582 | ||||
|
Bad debt provision |
1,948,887 |
(505,117) | ||||
|
Change in fair value of purchase option derivative liability |
(420,610) |
(125,441) | ||||
|
Change in operating assets: |
||||||
|
Accounts receivable, trade |
(4,830,933) |
(1,130,490) | ||||
|
Notes receivable |
79,250 |
(29,484) | ||||
|
Inventories |
(2,945,926) |
(555,388) | ||||
|
Other receivables |
(149,447) |
64,419 | ||||
|
Advances to suppliers |
(990,309) |
(683,980) | ||||
|
Other current assets |
562,148 |
(76,656) | ||||
|
Other noncurrent assets |
(63,263) |
(330,217) | ||||
|
Long term deposit |
(1,345,486) |
|||||
|
Change in operating liabilities: |
||||||
|
Accounts payable, trade |
853,598 |
(1,119,770) | ||||
|
Other payables and accrued liabilities |
(127,969) |
296,298 | ||||
|
Customer deposits |
387,458 |
64,508 | ||||
|
Taxes payable |
(222,207) |
150,910 | ||||
|
Net cash (used in) provided by operating activities |
(9,438,665) |
(1,787,068) | ||||
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
||||||
|
Disposal of financial assets available for sale |
- |
449,403 | ||||
|
Purchase of financial assets available for sale |
(136,074) |
|||||
|
Purchase of equipment |
(237,108) |
(115,463) | ||||
|
Purchase of intangible assets |
(1,125,110) |
|||||
|
Termination of a joint venture |
69,802 | |||||
|
Investment in a joint venture |
(9,601) |
(74,900) | ||||
|
Additions to leasehold improvements |
(249,097) |
(200,428) | ||||
|
Net cash (used in) provided by investing activities |
(1,756,990) |
128,414 | ||||
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
||||||
|
Change in restricted cash |
(5,743,155) |
3,939,366 | ||||
|
Repayments of notes payable |
(22,501,743) |
(24,600,434) | ||||
|
Proceeds from notes payable |
28,352,683 |
20,309,469 | ||||
|
Change in other payables-related parties |
(278,691) |
375,395 | ||||
|
Net cash (used in) provided by financing activities |
(170,906) |
23,796 | ||||
|
EFFECT OF EXCHANGE RATE ON CASH |
1,398,197 |
(393,666) | ||||
|
DECREASE IN CASH |
(9,968,364) |
(2,028,524) | ||||
|
CASH, beginning of period |
18,364,424 |
6,671,873 | ||||
|
CASH, end of period |
$ |
8,396,060 |
$ |
4,643,349 | ||
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
||||||
|
Cash paid for interest |
$ |
- |
$ |
1,348 | ||
|
Cash paid for income taxes |
$ |
27,856 |
$ |
57,688 | ||
|
Issuance of common stocks in exchange of debts |
- |
1,603,810 | ||||
