| Diamond Industries Limited |
|
|
|
|
|
|
|
|
| Annual
Report 2000 |
|
|
|
|
| CONTENTS |
|
|
| DIAMOND
INDUSTRIES LIMITED |
|
| Company
Information |
|
| Notice of Meeting |
|
|
| Directors' Report |
|
|
| Auditors' Report |
|
|
| Balance Sheet |
|
|
| Profit
and Loss Account |
|
| Cash
Flow Statement |
|
| Notes
to the Accounts |
|
| Pattern
of Shareholding |
|
|
| ACCOUNTS
OF SUBSIDIARY COMPANY |
|
| DIAMOND
POLYMERS (PVT) LIMITED |
|
| Company
Information |
|
| Auditors' Report |
|
|
| Balance Sheet |
|
|
| Profit
and Loss Account |
|
| Cash
Flow Statement |
|
| Notes
to the Accounts |
|
| Pattern
of Shareholding |
|
|
| CONSOLIDATED
FINANCIAL STATEMENT |
|
| DIAMOND
INDUSTRIES LIMITED AND SUBSIDIARY |
|
| General
Information (Subsidiary) |
|
| Auditors'
Report to the |
|
| Board of Directors |
|
|
| Consolidated
Balance Sheet |
|
| Consolidated
Profit and Loss Accounts |
|
| Consolidated
Cash Flow Statement |
|
|
|
| COMPANY
INFORMATION |
|
|
| BOARD
OF DIRECTORS: |
|
MR. WAQAR A. SHAFFI |
|
|
Chairman/Chief Executive |
|
|
|
MR. MUHAMMAD SAEED |
|
|
MR. SHARIQ IFTIKHAR |
|
|
MR. M.H. PERVEZ |
|
| SYED M. NAWAZ |
|
|
MR. SOHAIL MALIK |
|
|
MR. AMANULLAH GULZAR |
|
|
| COMPANY
SECRETARY: |
|
NAZIR AHMAD |
|
|
| AUDITORS: |
|
SALEEM AHSAN & CO. |
|
|
Chartered Accountants |
|
|
| LEGAL
ADVISORS: |
|
IRTIZA ALI NAQVI &
ASSOCIATES |
|
|
| BANKERS: |
|
ALLIED BANK OF PAKISTAN
LIMITED |
|
|
EMIRATES BANK
INTERNATIONAL |
|
|
FIDELITY INVESTMENT BANK
LIMITED |
|
|
GULF COMMERCIAL BANK
LIMITED |
|
|
NATIONAL BANK OF PAKISTAN |
|
|
PLATINUM COMMERCIAL BANK
LIMITED |
|
|
| REGISTERED
OFFICE: |
|
PLOT NO. 25, GADOON
AMAZAI, |
|
|
INDUSTRIAL ESTATE, SWABI
(N.W.F.P.) |
|
|
TEL: 05372-70297, 70397,
70597 |
|
|
| WORKS: |
|
PLOT NO. 25, GADOON
AMAZAI |
|
|
INDUSTRIAL ESTATE, SWABI
(N.W.F.P.) |
|
|
TEL: 05372-70297 |
|
|
| SHARES
DEPARTMENT: |
|
MALIK BAGH, BARADARI
ROAD, |
|
|
SHAHDARA, LAHORE. |
|
|
TEL: 111-111-666,
7932001-7 |
|
|
FAX: 92-42-7925299, TLX:
44590 DRM PK. |
|
|
Email:
diamond@brain.net.pk |
|
|
|
| NOTICE
OF MEETING |
|
|
| NOTICE
is hereby given that the 11th Annual General Meeting of Diamond Industries
Limited, will be held at |
|
| Principal
Office of the Company at Malik Bagh, Baradari Road, Shahdara, Lahore, on
February 14, 2001 at |
|
| 2.00
P.M. to transact the following business: |
|
|
| 1.
To confirm the minutes of the last General Meeting held on 27th December,
1999. |
|
|
| 2.
To receive, consider and adopt the Annual Audited Accounts of the Company
together with the Auditors' |
|
| and
Directors' Reports for the period ended June 30, 2000. |
|
|
| 3.
To appoint Auditors and fix their remuneration. |
|
|
| 4.
To approve the interim cash dividend @ 30% already declared and paid. |
|
|
| 5.
To consider any other matter of the Company with the permission of the Chair. |
|
|
| SHARE
REGISTRAR ADDRESS: |
|
By Order of the Board |
|
|
|
|
| Soft
Link (Pvt) Limited |
|
|
|
| Wings
Arcade, 1-K (Commercial) |
|
( NAZIR AHMAD ) |
|
| Model
Town, Lahore. |
|
Company Secretary |
|
|
| Lahore |
|
| Dated:
23rd January, 2001 |
|
|
| NOTES: |
|
| 1.
The share transfer books of the Company will be closed from February 14, 2001
to February 20, 2001 |
|
| (both
days inclusive) |
|
|
| 2.
A member entitled to attend and vote at this Meeting may appoint another
member as his/her proxy to |
|
| attend
and vote on his/her behalf. The instrument appointing a proxy must be
received by the Company |
|
| not
later than 48 hours before the meeting. |
|
|
| 3.
Members are requested to notify any change in address immediately. |
|
|
| 4.
Kindly quote Folio Number in all correspondence with the Company. |
|
|
|
| DIRECTORS'
REPORT TO THE MEMBERS |
|
|
| I
welcome you to the 11th Annual General Meeting of your company and pleased to
present to you on behalf |
|
| of
the Board of Directors the financial results of the company alongwith the
Audited Accounts for the year |
|
| ended
June 30, 2000. |
|
|
| The
financial results of the company are as under: |
|
|
|
(In Rs.) |
|
|
| Profit for the year |
|
24,421,646 |
|
| Un-appropriated
profit/(loss) b/f |
|
103,148,102 |
|
|
------------ |
|
|
127,569,748 |
|
| Interim
Cash Dividend (paid) |
|
10,353,600 |
|
|
------------ |
|
| Unappropriated
profit c/f to balance sheet |
|
117,216,148 |
|
|
========== |
|
|
| REVIEW |
|
| The
company has been able to record profits on account of other income earned by
the company on its short |
|
| term
investments which clearly shows that the funds of the company has been
invested in a prudent manner |
|
| so
much so that the company had been able to declare an interim cash dividend at
the rate of Rs. 3.00 per |
|
| share
during the year. The profits in this head would have been much higher had it
not been for acts of |
|
| CHEATING,
FRAUD, MANIPULATION and UNFAIR PLAY by the Chairman, Vice Chairman, office
bearers, |
|
| directors,
management and certain members of the Karachi Stock Exchange during the
period of July 1999 |
|
| to
June 2000. In this manner the culprits caused tremendous losses to the
portfolio of the company. Your |
|
| company
is presently engaged and is in the process of investigating and identifying
the culprits and thereafter |
|
| intends
to claim and recovering damages from them. In this regards various
representations have been made |
|
| to
the SECP and government. |
|
|
| During
the year the directors had planned to restart manufacturing activities at
Gadoon Factory and for this |
|
| purpose
had imported the necessary raw materials. However, due to negative attitude
of the Central Board of |
|
| Revenue,
this could not be achieved. The raw materials were thus transferred to our
subsidiary namely Diamond |
|
| Polymers
(Pvt) Ltd. A.J.K. on cost to cost basis. Thus our factory in Gadoon Amazai is
still closed and the |
|
| directors
have opted to keep the factory closed until final resolution of dispute with
CBR. |
|
|
| Meanwhile,
the Directors are pleased to inform you that the Honorable Supreme Court has
accepted our appeal |
|
| for
compensation/quota vide judgement dated 5th. June, 2000. The operative part
of the judgement is reproduced |
|
| below :- |
|
|
| "After
examining the case we are of the considered view that the case of the
appellant is also similar to that of |
|
| M/s
Alkhair Gadoon and M/s Khyber Plastic Industries, therefore, it was entitled
to the same benefits in the |
|
| matter
of determination/assessment of one time compensation as it fell in the same
category, therefore, was |
|
| entitled
to assessment and determination of compensation on the basis of the same
criteria which was applied |
|
| in
the case of the said two industries as to size of industry, additional
machinery and number of shifts, etc., and |
|
| in
not doing so, the respondent- authorities have discriminated the appellant
which was violative of the fundamental |
|
| right
of equality before law and equal treatment as guaranteed by the Constitution.
The decisions made by the |
|
| respondents
in the matter of determination of one time compensation is also not in
consonance with letter and |
|
| spirit
of the above principles that in such matters, maximum benefit is to be given
to the affectees in financial |
|
| matters,
for the said decision was made for the purposes of granting them relief which
could not be denied on |
|
| mere technicalities. |
|
|
| For
the foregoing reasons, this appeal is accepted, decisions already made by the
respondents in the matter of |
|
| determination/assessment
of one time compensation in the case of the appellant inclusive of order
dated |
|
| 27-4-2000
of Member (Customs) CBR are hereby declared to be without lawful authority
and of no legal effect |
|
| and
quashed. The Member, Central Board of Revenue is hereby directed to decide
afresh the case of the appellant |
|
| as
regards one time relief of 25% to the total duty value of the raw materials
on the basis of the same criteria |
|
| and
the parameters applied in the case of M/s. Alkhair Gadoon and M/s. Khyber
Plastic Industries and full benefit |
|
| should
be given in the light of the observations and the facts noted above. As the
matter has already been delayed, |
|
| the
needful shall be done within one month from the receipt of this judgment. |
|
|
| Till
the matter is decided, status quo is maintained as regards recoveries and
encashment of guarantee, etc". |
|
|
| Inspite
of clear directions of the Honorable Supreme Court the CBR is still engaged
in delaying tactics and |
|
| efforts
to frustrate the course of law and the rights of your company. Our claim
pending with the Central Board |
|
| of
Revenue, which has been computed in accordance with the Judgement of the
Honorable Supreme Court, |
|
| is
to the tune of Rs.470,000,000/. It is now hoped and anticipated that the CBR
will be compelled to entertain |
|
| and settle our claim. |
|
|
| The
CBR applied illegal and undue pressure on M/s Allied Bank Of Pakistan for
encashment Of guarantees |
|
| inspite
of restraining orders of the Supreme Court. The Bank finally succumbed to the
pressures and arbitrarily |
|
| paid
the CBR Rs. 260,568,683/- and simultaneously created demand finance against
the company to the tune |
|
| of
Rs.209,405,218/. Markup of about Rs. 17 million has also been charged by the
bank. In the aftermath of |
|
| the
favorable judgement of the Court, the company intends to claim all amounts
including markup from the |
|
| CBR in due course. |
|
|
| Due
to these and other discriminatory, illegal acts of the Central Board of
Revenue your company is faced with |
|
| unprecedented
financial constraints and is struggling to manage the present situation. |
|
|
| DIVIDEND |
|
| Your
Company had already declared and paid interim cash dividend @ 300/6 on March
07, 2000. The Directors |
|
| in
order to financially support the Company have opted to forego the interim
dividend announced in March |
|
| 2000
on their shareholding. |
|
|
| SUBSIDIARY |
|
| Your
Directors are further pleased to report that our subsidiary namely M/s
Diamond Polymers (Pvt) Ltd. (Azad |
|
| Jammu
& Kashmir) has performed very well during this financial year and doubled
its sales to the tune of |
|
| Rs.
588 million from Rs. 275 million last year. This positive result is in spite
of increase in cost of raw materials |
|
| due
to increase in international prices and rupee devaluation and simultaneous
decrease in selling price due |
|
| to
stiff resistance from competitors. This has been achieved due to a very
aggressive sales and publicity policy. |
|
| In
this manner the company has increased its market share and net profit, which
if sustained, will be beneficial |
|
| in
the long run. The accounts of DPOL are annexed for your reference. |
|
|
| AUDITORS |
|
| The
retiring auditors M/s Saleem Ahsan and Company, Chartered Accountants shall
retire and being eligible |
|
| offer
themselves for re-appointment. |
|
|
| PATTERN
OF SHAREHOLDING |
|
| The
pattern of shareholding under Section 236 of the Companies Ordinance I984 is
annexed to this report. |
|
|
| DIRECTORS |
|
| The
board places on record its appreciation for the valuable services rendered by
the outgoing Chairman and |
|
| Chief
Executive Mr. Iftikhar A. Shaffi having resigned and greets Mr. Waqar A.
Shaffi as the new Chairman |
|
| and
Chief Executive of the Company. The board also takes the opportunity to
welcome Mr. Amanullah Gulzar |
|
| as
the new director appointed by the board to fill up the casual vacancy. |
|
|
| On
behalf of the board I would like to thank all the staff and the management
for efforts and contribution. |
|
|
|
For and on behalf of the Board |
|
|
|
|
| Lahore |
|
( WAQAR A. SHAFFI ) |
|
| Dated:
23rd January, 2001 |
|
CHIEF EXECUTIVE |
|
|
|
|
|
| AUDITORS'
REPORT TO THE MEMBERS |
|
|
| We
have audited the annexed Balance Sheet of DIAMOND INDUSTRIES LTD., as at June
30, 2000 and the related |
|
| Profit
& Loss Account, Cash Flow Statement and the Statement of Changes in
equity together with the Notes |
|
| forming
part thereof, for the year then ended and we state that we have obtained all
the information and explanation |
|
| which,
to the best of our knowledge and belief, were necessary for the purposes of
our audit. |
|
|
| It
is the responsibility of the company's management to establish and maintain a
system of internal control and |
|
| prepare
and present the above said statements in conformity with the approved
accounting standards and the |
|
| requirement
of the Companies Ordinance, 1984. Our responsibility is to express our and
opinion to these statements |
|
| based on our audit. |
|
|
| We
conducted our audit in accordance with the auditing standards as applicable
in Pakistan. These standards require |
|
| that
we plan and perform the audit to obtain reasonable assurance about whether
the above said statement are free |
|
| of
any material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and |
|
| disclosures
in the above said statements. An audit also includes assessing the accounting
policies and significant |
|
| estimates
made by management, as well as evaluating the overall presentation of the
above said statements. We |
|
| believe
that our audit provides a reasonable basis for our opinion and, after due
verification, we report that: |
|
|
| during
the year the company supplied chemicals amounting to Rs. 133.75 million to
its subsidiary company on |
|
| cost
basis without considering the prevailing market value of such products. |
|
|
| Subject
to the above, we further report that:- |
|
|
| (a)
in our opinion, proper books of account have been kept by the company as
required by the Companies |
|
| Ordinance, 1984; |
|
|
| b) in our opinion: |
|
| i)
the Balance Sheet and related Profit & Loss Account together with the
Notes thereon have been drawn |
|
| up
in conformity with the Companies Ordinance, 1984, and are in agreement with
the books of account |
|
| and
are further in accordance with accounting policies consistently applied; |
|
|
| ii)
the expenditure incurred during the year was for the purpose of the company's
business; and |
|
|
| iii)
the business conducted, investments made and the expenditure incurred during
the year were in accordance |
|
| with
the objects of the company; |
|
|
| c)
in our opinion and to the best of our information and according to the
explanations given to us, the Balance |
|
| Sheet
and related Profit & Loss Account in equity together with the Notes
forming part thereof conform with |
|
| approved
accounting standards as applicable in Pakistan, and, give the information
required by the Companies |
|
| Ordinance,
1984, in the manner so required and subject to the above qualification and
the consequential effect |
|
| thereof
on operating results, respectively give a true and fair view of the state of
the company's affairs as at |
|
| June
30, 2000 and of the profit, its changes in equity for the year then ended;
and |
|
|
| d)
in our opinion no Zakat was deductible at source under Zakat and Ushr
Ordinance, 1980. (XVIII of 1980). |
|
|
| LAHORE |
|
SALEEM AHSAN & CO. |
|
| DATED:
13TH JANUARY, 2001 |
|
CHARTERED ACCOUNTANTS. |
|
|
|
| BALANCE
SHEET |
|
| AS
ON JUNE 30, 2000 |
|
|
|
Note |
2000 |
1999 |
|
|
|
Rupees |
Rupees |
|
| CAPITAL
& LIABILITIES |
|
| AUTHORIZED
CAPITAL |
|
| 12,000,000
Ordinary Shares of Rs. 10 Each |
|
120,000,000 |
120,000,000 |
|
|
========== |
========== |
|
| ISSUED,
SUBSCRIBED & PAID |
|
| UP CAPITAL |
|
| 9,000,000 Ordinary |
|
| Shares
of Rs. 10 Each |
|
3 |
90,000,000 |
90,000,000 |
|
| Un-appropriated
Profit |
|
|
117,216,148 |
103,148,102 |
|
|
|
------------ |
------------ |
|
|
|
207,216,148 |
193,148,102 |
|
| SURPLUS
ON REVALUATION |
|
|
|
|
| OF FIXED ASSETS |
|
4 |
50,163,799 |
50,163,799 |
|
| LONG
TERM LOAN |
|
5 |
179,405,218 |
-- |
|
|
| CURRENT
LIABILITIES |
|
| Short
Term Loans - Secured |
|
6 |
51,643,353 |
42,956,641 |
|
| Creditors
& Accrued Liabilities |
|
7 |
13,005,685 |
16,090,937 |
|
| Other Liabilities |
|
|
7,432,111 |
7,432,111 |
|
| Provision
for Taxation |
|
|
2,654,219 |
677,339 |
|
| Dividend Payable |
|
|
1,084,760 |
67,890 |
|
| CONTINGENCIES
AND COMMITMENTS |
|
8 |
|
|
|
------------ |
------------ |
|
|
75,820,128 |
67,224,918 |
|
|
------------ |
------------ |
|
|
512,605,293 |
310,536,819 |
|
|
========== |
========== |
|
|
| PROPERTY
& ASSETS |
|
| FIXED ASSETS |
|
| (At
cost less depreciation) |
|
9 |
90,826,472 |
92,398,420 |
|
|
|
|
|
| Deferred Cost |
|
|
-- |
527,417 |
|
| Long
Term Investment |
|
10 |
31,772,120 |
31,772,120 |
|
|
|
|
|
| CURRENT
ASSETS |
|
|
|
|
| Stock in Trade |
|
11 |
7,562,308 |
64,381,451 |
|
| Debtors |
|
|
3,790,071 |
2,712,752 |
|
| Short
Term Investment |
|
12 |
100,883,600 |
99,816,578 |
|
| Advances,
Deposit, Prepayments & |
|
|
|
|
| Others Receivable |
|
13 |
274,236,354 |
16,940,454 |
|
| Cash
and Bank Balances |
|
14 |
3,534,368 |
1,987,627 |
|
|
------------ |
------------ |
|
|
390,006,701 |
185,838,862 |
|
|
------------ |
------------ |
|
|
512,605,293 |
310,536,819 |
|
|
========== |
========== |
|
| The
annexed notes form an integral part of these accounts. |
|
|
|
Waqar A. Shaffi |
|
Muhammad Saeed |
|
|
Chief Executive |
|
Director |
|
|
|
|
| PROFIT
& LOSS ACCOUNT |
|
| FOR
THE YEAR ENDED JUNE 30, 2000 |
|
|
|
Note |
2000 |
1999 |
|
|
|
Rupees |
Rupees |
|
| SALES |
|
146,722,249 |
2,492,378 |
|
| COST
OF GOODS SOLD |
|
15 |
145,499,529 |
15,019,854 |
|
|
|
------------ |
------------ |
|
| GROSS
PROFIT/(LOSS) |
|
|
1,222,720 |
(2,527,476) |
|
|
|
|
|
| OPERATING
EXPENSES:- |
|
|
|
|
| Administrative |
|
16 |
10,268,214 |
8,339,662 |
|
| Selling |
|
17 |
1,074,222 |
675,741 |
|
| Financial |
|
18 |
21,709,969 |
5,228,202 |
|
|
|
------------ |
------------ |
|
|
|
33,052,405 |
14,243,605 |
|
|
|
------------ |
------------ |
|
| OPERATING
PROFIT/(LOSS) |
|
|
(31,829,685) |
(16,771,081) |
|
| OTHER
INCOME/(LOSS) |
|
19 |
58,228,212 |
11,659,952 |
|
|
------------ |
------------ |
|
| PROFIT/(LOSS)
BEFORE TAXATION |
|
26,398,527 |
(5,111,129) |
|
| TAXATION |
|
1,976,881 |
677,339 |
|
|
------------ |
------------ |
|
| PROFIT/(LOSS)
AFTER TAXATION |
|
24,421,646 |
(5,788,468) |
|
| PRIOR
YEAR'S ADJUSTMENT |
|
-- |
84,144 |
|
|
------------ |
------------ |
|
|
24,421,646 |
(5,704,324) |
|
| UNAPPROPRIATED
PROFIT/(LOSS) BROUGHT FORWARD |
|
103,148,102 |
108,852,426 |
|
|
------------ |
------------ |
|
| APPROPRIATIONS: |
|
127,569,748 |
103,148,102 |
|
| INTERIM
CASH DIVIDEND |
|
20 |
10,353,600 |
-- |
|
|
|
------------ |
------------ |
|
| UNAPPROPRIATED
PROFIT/(LOSS) CARRIED |
|
|
|
| FORWARD
TO BALANCE SHEET. |
|
117,216,148 |
103,148,102 |
|
|
========== |
========== |
|
|
|
|
Waqar A. Shaffi |
|
Muhammad Saeed |
|
|
Chief Executive |
|
Director |
|
|
|
|
|
| CASH
FLOW STATEMENT |
|
| FOR
THE YEAR ENDED JUNE 30, 2000 |
|
|
|
|
2000 |
1999 |
|
|
Rupees |
Rupees |
|
| CASH
FLOW FROM OPERATING ACTIVITIES |
|
|
|
| Net
Profit / (loss) before taxation |
|
26,398,527 |
(5,111,129) |
|
| Adjustments for: |
|
|
|
| Depreciation |
|
2,78 O, 169 |
2,923,929 |
|
| Amortization |
|
527,417 |
527,417 |
|
| Financial Expenses |
|
21,709,969 |
5,228,202 |
|
| Profit
on Disposal of Assets |
|
-- |
(724,749) |
|
| Other Income |
|
(24,865,378) |
(12,297,541) |
|
| Others |
|
(33,362,834) |
1,362,338 |
|
|
------------ |
------------ |
|
| Operating
Profit Before Working |
|
|
|
| Capital
Changes And Financial Expenses |
|
(6,812,130) |
(8,091,533) |
|
|
|
|
| Change
in Working Capital |
|
|
|
| (Increase)/Decrease
in Stock in Trade |
|
56,819,143 |
(45,477,469) |
|
| (Increase)/Decrease
in Debtors |
|
(1,077,319) |
(2,101,514) |
|
| (Increase)/Decrease in Due from Associated Concern |
- |
|
-- |
-- |
|
| (Increase)/Decrease
in Advances, Deposit, |
|
| Prepayments
& Others Receivable |
|
(257,295,900) |
(4,745,468) |
|
|
------------ |
------------ |
|
|
(201,554,076) |
(52,324,451) |
|
| Increase/(Decrease)
in Creditors & accrued liabilities |
|
(3,085,252) |
8,990,231 |
|
|
------------ |
------------ |
|
| Changes
in Working Capital |
|
(204,639,328) |
(43,334,220) |
|
|
|
------------ |
------------ |
|
| Cash
Generated From Operations |
|
(211,451,458) |
(51,425,753) |
|
| Financial Expenses |
|
(21,709,969) |
(5,228,202) |
|
| Taxes
Paid/Adjustment |
|
-- |
84,144 |
|
|
------------ |
------------ |
|
| Net
Cash From Operating Activities |
|
(233,161,427) |
56,569,811 |
|
|
------------ |
------------ |
|
| CASH
FLOW FROM INVESTING ACTIVITIES |
|
| Net Fixed Assets |
|
(1,272,647) |
(4,554,934) |
|
| Long
Term Investment |
|
-- |
(20,655,420) |
|
| Short
Term Investment |
|
(1,067,022) |
42,003,838 |
|
| Payment
of Dividend |
|
(9,336,730) |
-- |
|
| Capital
Work in Progress |
|
-- |
4,023,813 |
|
| Sales
proceeds of Fixed Assets |
|
64,425 |
1,268,186 |
|
| Other Income/(loss) |
|
58,228,212 |
10,935,203 |
|
|
------------ |
------------ |
|
| Net
Cash Provided By (Use In) Investing Activities |
|
46,616,238 |
33,020,686 |
|
|
------------ |
------------ |
|
| CASH
FLOW FROM FINANCING ACTIVITIES |
|
| Increase/(Decrease)
in Long Term Loans |
|
179,405,218 |
-- |
|
| Increase/(Decrease)
in Short Term Loans |
|
8,686,712 |
10,911,175 |
|
|
------------ |
------------ |
|
| Net
Cash Used in Financing Activities |
|
188,091,930 |
10,911,175 |
|
|
------------ |
------------ |
|
| Net
Increase/(Decrease) in Cash & Cash Equivalents |
|
1,546,741 |
(12,637,950) |
|
