TAXES 62,862 394,541 1,099,726
----------- ------------ -----------
NET LOSS (4,234,242) (21,138,777) (3,198,366)
LESS: NET LOSS
ATTRIBUTABLE TO
NONCONTROLLING
INTEREST (14) (252) (6,247)
NET LOSS ATTRIBUTABLE TO
CHINA JO-JO DRUGSTORES,
INC. (4,234,228) (21,138,525) (3,192,119)
OTHER COMPREHENSIVE LOSS
FOREIGN CURRENCY
TRANSLATION ADJUSTMENTS (729,373) (2,617,857) 1,534,807
----------- ------------ -----------
COMPREHENSIVE LOSS (4,963,615) (23,756,634) (1,663,559)
WEIGHTED AVERAGE NUMBER
OF SHARES:
Basic 1,444,263 509,828 173,966
=========== ============ ===========
Diluted 1,444,263 509,828 173,966
=========== ============ ===========
LOSS PER SHARE:
Basic $ (2.93) $ (41.46) $ (18.35)
=========== ============ ===========
Diluted $ (2.93) $ (41.46) $ (18.35)
=========== ============ ===========
CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended
March 31,
-------------------------------------------
2024 2023 2022
------------- ------------- -------------
CASH FLOWS FROM
OPERATING
ACTIVITIES:
Net loss $ (4,234,242) $(21,138,777) $ (3,198,366)
Adjustments to
reconcile net loss to
net cash used in
operating
activities:
Depreciation and
amortization 790,449 718,002 1,256,491
Bad debt direct
write-off and
provision and
reversal (249,257) 7,579,886 939,720
Amortization of
right-of-use
assets 4,594,172 - -
Loss from disposal
of property and
equipment 107,251 - -
Impairment of long
lived assets - - 148,795
Share-based
compensation - 10,360,000 -
Investment loss 1,607,537 2,316,994 -
Change in operating
assets and
liabilities:
Accounts receivable (1,804,440) (2,531,755) (2,657,283)
Notes receivable 19,943 (20,861) 40,260
Inventories and
biological assets (1,699,621) (522,550) 1,523,098
Other receivables (672,830) (958,671) (1,927,692)
Advances to
suppliers (839,221) 201,984 (171,783)
Long term deposit (132,568) 589,653 (159,508)
Other current assets 19,076 331,426 376,134
Other noncurrent
assets 69,539 (30,483) 62,394
Amount due from
related parties (317,828) - -
Accounts payable 6,002,186 1,765,488 (3,558,050)
Other payables and
accrued
liabilities 868,975 (1,341,447) 99,132
Customer deposits (144,761) (1,035,456) 678,601
Taxes payable (948,277) 433,054 1,162,084
Operating lease
liabilities (6,191,522) - -
------------ ------------ ------------
Net cash used in
operating activities (3,155,439) (3,283,513) (5,385,973)
------------ ------------ ------------
CASH FLOWS FROM
INVESTING ACTIVITIES:
Acquisition of
equipment and
building (330,677) (118,272) (89,960)
Investment in a
joint venture (1,116,212) (4,379) -
Purchases of
intangible assets (66,973) (12,774) (7,012)
Additions to
leasehold
improvements (525,988) (180,672) (209,166)
------------ ------------ ------------
Net cash used in
investing activities (2,039,850) (316,097) (306,138)
------------ ------------ ------------
CASH FLOWS FROM
FINANCING ACTIVITIES:
Proceeds from
short-term bank
loan 1,116,212 - -
Repayment of
short-term bank
loan (837,159) - (779,059)
Repayment of third
parties loan - (1,811,558) (2,613,965)
Proceeds from notes
payable 56,875,403 57,965,013 65,370,181
Repayment of notes
payable (52,997,171) (60,273,598) (57,829,269)
Proceeds from
issuance of shares
and warrants in
private placements 2,589,600 7,325,000 -
Proceeds from other
payable-related
parties 1,257,406 43,785 689,010
Repayment of other
payable-related
parties - (882,486)
------------ ------------ ------------
Net cash provided by
financing activities 8,004,291 2,366,156 4,836,898
------------ ------------ ------------
EFFECT OF EXCHANGE RATE
ON CASH (1,505,475) (2,535,479) 1,522,146
------------ ------------ ------------
INCREASE IN CASH AND
CASH EQUIVALENTS AND
RESTRICTED CASH 1,303,527 (3,768,933) 666,933
CASH AND CASH
EQUIVALENTS AND
RESTRICTED CASH,
beginning of year 31,570,644 35,339,577 34,672,644
------------ ------------ ------------
CASH AND CASH
EQUIVALENTS AND
RESTRICTED CASH, end
of year $ 32,874,171 $ 31,570,644 $ 35,339,577
============ ============ ============
SUPPLEMENTAL DISCLOSURE
OF CASH FLOW
INFORMATION:
Cash paid for
income taxes $ 149,023 $ 63,668 $ 3,955
Cash paid for
interest 13,604 64,943 262,218
============ ============ ============
NON-CASH ACTIVITIES
Cashless exercise
of warrants $ - $ 135,118 $ -
View original content:https://www.prnewswire.com/news-releases/china-jo-jo-drugstores-reports-fiscal-year-2024-financial-results-302209643.html
SOURCE China Jo-Jo Drugstores, Inc.
(END) Dow Jones Newswires
July 30, 2024 09:00 ET (13:00 GMT)
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