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EXCEL - IDEA: XBRL DOCUMENT - China Precision Steel, Inc.Financial_Report.xls
10-Q - QUARTERLY REPORT - China Precision Steel, Inc.form10q.htm
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EX-32 - EXHIBIT 32.1 - China Precision Steel, Inc.ex32-1.htm
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v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities    
Net (loss) $ (4,222,283) $ (1,079,095)
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 2,254,886 2,196,295
Allowance for bad and doubtful debts 1,373,000   
Net changes in assets and liabilities:    
Accounts receivable, net 694,880 (6,877,517)
Inventories (1,925,422) 308,082
Prepaid expenses 206,353 66,760
Advances to suppliers 889,785 (586,403)
Accounts payable and accrued expenses 456,346 1,805,922
Advances from customers 519,750 3,779,521
Other taxes payable (108,457) 662,673
Current income taxes 32,630 27,502
Net cash provided by operating activities 171,468 303,740
Cash flows from investing activities    
Purchase of property, plant and equipment, including construction in progress (7,424) (84,886)
Net cash (used in) investing activities (7,424) (84,886)
Cash flows from financing activities    
Repayments of short-term loans    (810,921)
Net cash (used in) financing activities    (810,921)
Effect of exchange rate (171,282) 37,366
Net (decrease) in cash (7,238) (554,701)
Cash and cash equivalents, beginning of period 1,602,805 2,707,754
Cash and cash equivalents, end of period $ 1,595,567 $ 2,153,053