China Pharma Holdings, Inc. Reports First Quarter 2019 Financial Results

Wednesday, May 15, 2019 General News
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CHINA PHARMA HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Three Months

Ended March 31,

2019

2018

Cash Flows from Operating Activities:

Net loss

$        (417,731)

$        (293,480)

Depreciation and amortization

795,483

861,430

Bad debt expense

13,312

1,834

Deferred income taxes

-

25,985

Non cash lease expense

1,233

-

Changes in assets and liabilities:

Trade accounts and other receivables

(145,935)

(266,479)

Advances to suppliers

(107,839)

(237,165)

Inventory

389,589

427,741

Trade accounts payable

6,079

196,434

Accrued taxes payable

(51,879)

(163,335)

Other payables and accrued expenses

(387,569)

(52,823)

Advances from customers

(12,285)

20,709

Prepaid expenses

8,065

2,888

Net Cash Provided by Operating Activities

90,523

523,739

Cash Flows from Investing Activities:

Purchases of property and equipment

(73,866)

(3,627)

Net Cash Used in Investing Activities

(73,866)

(3,627)

Cash Flows from Financing Activities:

Payments of construction term loan

(148,227)

(157,316)

Payments of related party payables

(119,561)

-

Net Cash Used in Financing Activities

(267,788)

(157,316)

Effect of Exchange Rate Changes on Cash

25,821

75,025

Net (Decrease) Increase in Cash and Cash Equivalents

(225,310)

437,821

Cash and Cash Equivalents at Beginning of Period

1,186,587

2,030,214

Cash and Cash Equivalents at End of Period

$          961,277

$       2,468,035

Supplemental Cash Flow Information:

Cash paid for income taxes

$                    -

$                    -

Cash paid for interest

$            80,693

$          125,716

Supplemental Noncash Investing and Financing Activities:

Issuance of banker's acceptances

$            55,603

$          443,748

Accounts receivable collected with banker's acceptances

175,793

133,053

Inventory purchased with banker's acceptances

145,614

148,924

Right-of-use assets obtained in exchange for operating lease obligations

236,055

-



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