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

Thursday, August 15, 2019 General News
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CHINA PHARMA HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Six Months

Ended June 30,

2019

2018

Cash Flows from Operating Activities:

Net loss

$     (1,255,834)

$     (1,301,529)

Depreciation and amortization

1,575,870

1,714,328

Bad debt expense

23,404

352,681

Deferred income taxes

-

48,575

Non cash lease expense

2,191

-

Changes in assets and liabilities:

Trade accounts and other receivables

(284,126)

(767,978)

Advances to suppliers

(10,615)

113,520

Inventory

1,072,479

206,415

Trade accounts payable

223,562

35,235

Accrued taxes payable

(43,632)

(94,416)

Other payables and accrued expenses

(371,738)

(157,893)

Advances from customers

31,548

15,639

Prepaid expenses

(31,309)

(40,178)

Net Cash Provided by Operating Activities

931,800

124,399

Cash Flows from Investing Activities:

Purchases of property and equipment

(73,538)

(29,982)

Net Cash Used in Investing Activities

(73,538)

(29,982)

Cash Flows from Financing Activities:

Payments of construction term loan

(147,475)

(157,071)

Payments of related party payables

(231,252)

-

Net Cash Used in Financing Activities

(378,727)

(157,071)

Effect of Exchange Rate Changes on Cash

(10,230)

(32,033)

Net (Decrease) Increase in Cash and Cash Equivalents

469,305

(94,687)

Cash and Cash Equivalents at Beginning of Period

1,186,587

2,030,214

Cash and Cash Equivalents at End of Period

$       1,655,892

$       1,935,527

Supplemental Cash Flow Information:

Cash paid for income taxes

$                      -

$                      -

Cash paid for interest

$          178,991

$          259,682

Supplemental Noncash Investing and Financing Activities:

Issuance of banker's acceptances

$                    -

$          965,468

Accounts receivable collected with banker's acceptances

378,585

268,630

Inventory purchased with banker's acceptances

399,455

288,982

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

233,629

-



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