CHINA SHENGHUO PHARMACEUTICAL HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Amounts in USD) | |||||
Three months ended March 31, | |||||
2011 | 2010 | ||||
(Unaudited) | (Unaudited) | ||||
Net cash provided by operating activities | $ | 2,609,836 | $ | 2,022,198 | |
Cash flows from investing activities: | |||||
Purchase of long-lived assets | (2,290,979) | (3,205,176) | |||
Proceeds from disposal of property | 169 | 131,913 | |||
Net cash used in investing activities | (2,290,810) | (3,073,263) | |||
Cash flows from financing activities: | |||||
Proceeds from borrowings | 3,292,326 | 9,563,858 | |||
Payments on borrowings | (3,886,067) | (9,636,020) | |||
Net cash used in financing activities | (593,741) | (72,162) | |||
Effect of foreign currency fluctuation on cash and cash equivalents | 14,632 | 492 | |||
Net decrease in cash and cash equivalents | (260,083) | (1,122,735) | |||
Cash and cash equivalents at beginning of period | 1,669,387 | 1,986,540 | |||
Cash and cash equivalents at end of period | $ | 1,409,304 | $ | 863,805 | |
Supplemental information | |||||
Cash paid for interest | $ | 332,323 | $ | 261,726 | |
Cash paid for income taxes | $ | - | $ | - | |
