| CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net loss
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| Depreciation and amortization |
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Stock compensation expense
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| Debt waived by exiting shareholder |
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| Bad debt expense |
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| Gain on sale of subsidiary |
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| Inventory impairment provision |
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| Fixed assets impairment provision |
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| Loss on asset disposal |
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| Gain on sale of subsidiaries |
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| Bargain purchase gain |
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| Changes in deferred taxes |
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Loss on assets disposal and exchange
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| Changes in assets and liabilities: |
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| Advance to suppliers |
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Accounts receivable
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Other receivables
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| Restricted cash |
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Inventory
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| Bank overdraft |
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Accounts payable
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| Accrued liabilities and other payables |
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| Taxes payable |
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Net cash used in operating activities
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| Acquisition of property, plant & equipment |
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| Proceeds from disposal of fixed assets |
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| Construction in progress |
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| Acquisition of China Huaxin, net of cash acquired |
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Acquisition of fixed assets
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| Cash acquired at acquisition of subsidiary |
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| Cash disposed at disposal of subsidiaries |
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Net cash provided by (used in) investing activities
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| CASH FLOWS FROM FINANCING ACTIVITIES: |
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| Notes payable |
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| Notes payable-related parties |
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| Advance from related parties |
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| Proceeds from convertible debts |
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| Notes receivable |
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| Advance from related party |
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Net cash provided by financing activities
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| EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS |
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| NET INCREASE (DECREASE) IN CASH & EQUIVALENTS |
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| CASH & EQUIVALENTS, BEGINNING OF YEAR |
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| CASH & EQUIVALENTS, END OF YEAR |
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NET INCREASE IN CASH & EQUIVALENTS
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| CASH & EQUIVALENTS, BEGINNING OF PERIOD |
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| CASH & EQUIVALENTS, END OF PERIOD |
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| Supplemental Cash Flow Data: |
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| Income tax paid |
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| Interest paid |
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| Conversion of convertible debts into common stock |
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| Income tax paid |
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| Interest paid |
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