Note 4 - Related Party Transactions

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Related party transactions

Dr. Lan Huang

During the

three

months ended

March

2016,

Dr. Lan Huang provided consulting services to the Company at a fee of

$75,

and became an employee of the Company since

April

2016.

In addition, Dr. Lan Huang, paid for certain general administrative and research and development expenses on behalf of the Company during the

three

months ended

March

31,

2016

and

2017.

Such amounts paid on behalf of the Company are unsecured, interest- free and repayable on demand.

Due to related parties consist of the following:

	December 31,		March 31,
	2016		2017
	(Audited)		(Unaudited)

Due to Dr. Lan Huang		210		7

Wanchun Biotech as a noncontrolling shareholder controlled by the Founders

January

13,

2017,

Wanchunbulin entered into a purchase contract with Dalian Wanchun Biotechnology Co., Ltd. (‘‘Wanchun Biotech”) to purchase drugs from Wanchun Biotech for clinical research purpose. During the

three

months ended

March

31,

2017,

Wanchun Biotech purchased drugs amounting to

$547

(RMB3,770)

from

third

party vendors and sold to Wanchunbulin without any margin.