| PERIOD ENDING | 31-Dec-08 | 31-Dec-07 | 31-Dec-06 | | Net Income | 1,742,389 | 9,413,304 | 5,716,899 | | | Operating Activities, Cash Flows Provided By or Used In | | Depreciation | 759,828 | 1,259,330 |
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| | Adjustments To Net Income | 28,656,382 | 21,167,046 |
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| | Changes In Accounts Receivables | (1,329,347) | (2,913,396) |
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| | Changes In Liabilities |
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| | Changes In Inventories |
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| | Changes In Other Operating Activities | 1,394,193 | (2,098,883) |
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| | | Total Cash Flow From Operating Activities | 30,053,394 | 28,748,062 | 25,003,841 | | | Investing Activities, Cash Flows Provided By or Used In | | Capital Expenditures | (2,726,360) | (715,829) | (390,809) | | Investments | (8,012,735) | (26,034,980) | (24,647,360) | | Other Cashflows from Investing Activities | 277,711 | (561,175) | (7,252,408) | | | Total Cash Flows From Investing Activities | (10,461,384) | (27,311,985) | (32,290,577) | | | Financing Activities, Cash Flows Provided By or Used In | | Dividends Paid | (4,069,804) | (3,997,451) | (2,804,317) | | Sale Purchase of Stock | 882,472 | (606,835) | 10,906,998 | | Net Borrowings | 2,609,355 | (61,862) | 451,543 | | Other Cash Flows from Financing Activities | 143,789 | 5,892 | 10,562 | | | Total Cash Flows From Financing Activities | (434,188) | (4,660,256) | 8,564,786 | | Effect Of Exchange Rate Changes | 40,881 | (664,278) | 8,162,095 | | | Change In Cash and Cash Equivalents | $19,198,704 | ($3,888,456) | $9,440,145 |
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1.48% Nasdaq 
Cash Flow
