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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001010549-10-000016.txt : 20100301
<SEC-HEADER>0001010549-10-000016.hdr.sgml : 20100301
<ACCEPTANCE-DATETIME>20100112101028
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001010549-10-000016
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20100112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA PHARMA HOLDINGS, INC.
		CENTRAL INDEX KEY:			0001106644
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				731564807
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2ND FLOOR, NO. 17, JINPAN ROAD
		STREET 2:		HAIKOU
		CITY:			HAINAN PROVINCE
		STATE:			F4
		ZIP:			570216
		BUSINESS PHONE:		8689866811730

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR, NO. 17, JINPAN ROAD
		STREET 2:		HAIKOU
		CITY:			HAINAN PROVINCE
		STATE:			F4
		ZIP:			570216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TS ELECTRONICS INC
		DATE OF NAME CHANGE:	20030818

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOFTSTONE INC
		DATE OF NAME CHANGE:	20030128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOFTSTONE INC /DE/
		DATE OF NAME CHANGE:	20010808
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html>
    <head>
        <title></title>
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    <body style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">
        <div style="WIDTH: 600px">
            <img height="52" src="kingandwood.jpg" width="651"><br>

            <div title="EE+ Page Header" style="MARGIN-BOTTOM: 12pt">
                <p style="MARGIN: 0pt 0in; TEXT-INDENT: 304px" align="justify">&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
            </div>

            <p></p>

            <p></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 3.4in; TEXT-INDENT: 78px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">January 12, 2010</font></p>

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">U.S. Securities and Exchange Commission<br>
            Division of Corporation Finance<br>
            100 F Street N.E.<br>
            Washington, D.C. 20549-6010</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font size="2"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Attn: Sebastian Gomez</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Abero</font></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>

            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
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                        <td align="left" width="32"><font face="Times New Roman, Times, serif" size="2">Re:</font></td>

                        <td align="left" width="13"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="8"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="881"><font face="Times New Roman, Times, serif" size="2">China Pharma Holdings, Inc.</font></td>

                        <td align="left" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                    </tr>

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                        <td align="left" width="32">
                        </td>

                        <td align="left" width="13"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="8"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="881"><font face="Times New Roman, Times, serif" size="2">File No.333-164049</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                    </tr>

                    <tr valign="bottom">
                        <td align="left" width="32">
                        </td>

                        <td align="left" width="13"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="8"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="881"><font face="Times New Roman, Times, serif" size="2">Registration Statement on Form S-3</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                    </tr>

                    <tr valign="bottom">
                        <td align="left" width="32">
                        </td>

                        <td align="left" width="13"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="8"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left" width="881"><font face="Times New Roman, Times, serif" size="2">Filed December 28, 2009</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                        <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                    </tr>
                </table>
                <br>
                <br>
            </blockquote>

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.2in; TEXT-INDENT: 19px" align="justify"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.4in; TEXT-INDENT: 42px" align="justify"></p>

            <p align="justify">Dear Mr. Sebastian Gomez Abero,</p>

            <p></p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">On behalf of China Pharma Holdings, Inc., a Delaware corporation (the &ldquo;<b><i>Company</i></b>&rdquo;), we have been authorized by the Company to present the following responses to your letter dated January 7, 2010 (the &ldquo;<b><i>Comment Letter</i></b>&rdquo;), relating to the Company&rsquo;s Form S-3 filed on December 28, 2009 (the
            &ldquo;<b><i>Form</i></b> <b><i>S-</i></b><b><i>3</i></b>&rdquo;).</p>

            <p></p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Your comments have been set forth in italics and paragraphs have been numbered to correspond to the numeration of the Comment Letter.</p>

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><u>FORM S</u></b><font size="2"><b><u><font style="FONT-SIZE: 10pt">-</font></u></b><b><u><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3</font></u></b><br>
            <b><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">General</font></u></b></font></p>

            <p></p>

            <table>
                <tr>
                    <td>
                    </td>

                    <td valign="top">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><i><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></i></p>
                    </td>

                    <td valign="top">
                        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify"><i>It appears that the market value of the voting and non-voting common equity held by your non-affiliate stockholders is less than $75 million. If that is the case, please confirm whether you are filing this registration statement pursuant to Instruction I</i><i>.B.6 of Form S-3. Otherwise, please provide us with an analysis
                        supporting your conclusion that you meet the $75 million public float requirement to use Form S-3.</i></p>
                    </td>
                </tr>
            </table>
            <br>

            <p></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0.2in; COLOR: #000000; FONT-FAMILY: 'AVENIR'" align="justify"><font size="2"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Pursuant to Instruction I.B.1 of Form S-3, the</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">aggregate market value of the voting an non-voting common equity held by non-affiliates of the registrant is computed by use of the price at which the common</font>
            <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">equity was last sold, or the</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">average of the</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">bid and asked prices of such common equity, in the principal market of such common equity as of a date within 60 days prior to the date of filing</font>. <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">The Company&rsquo;s public float reached</font>
            <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">$75,512,529.12 on December 28, 2009</font> and it filed the registration statement on Form S-3 after the stock market closed on that date. We believe the Company meets the $75 million public float requirement to use Form S-3 <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">under Instruction I.B.1 of Form S-3. The conclusion is supported by the following data and calculation:</font></font></p>

            <div title="EE+ Page Footer" style="MARGIN-TOP: 12pt">
                <p style="MARGIN-TOP: 0pt; FONT-SIZE: 9pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><a name="PAGENUM"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">1</font></a></p>
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            <p></p>

            <div title="EE+ Page Header" style="MARGIN-BOTTOM: 12pt">
                <p style="MARGIN: 0pt 0in; TEXT-INDENT: 304px" align="justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
            </div>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in" align="justify"><font size="2"><u><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Total Outstanding </font></u><u><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Shares of Common Stock</font></u></font></p>

            <p></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0.6in; COLOR: #000000; FONT-FAMILY: 'AVENIR'" align="justify"><font size="2"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">On December 28, 2009, there were</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">42,308,350</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">shares of common stock</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">of the Company</font>
            <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">outstanding. </font></font></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0in; TEXT-INDENT: 21px; FONT-FAMILY: 'AVENIR'" align="justify"><font size="2"><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Stock </font></u><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Held by Affiliate</font></u></font></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0.6in; FONT-FAMILY: 'AVENIR'" align="justify"><font size="2"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Listed</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">below is the beneficial ownership of the securities of each officer, director and holder of 10 percent or more (including shares under the common control of any natural or non-natural persons acting as a &ldquo;group&rdquo; as defined by the
            United States federal securities laws), including members of the immediate family and any affiliate or associate of any of the foregoing persons</font> <font style="FONT-FAMILY: 'TIMES NEW ROMAN'">on December 28, 2009: </font></font></p>

            <table style="MARGIN-LEFT: 0.7in" cellspacing="0" cellpadding="0" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><b><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Name</font></u></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><b><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Relationship to Company </font></u></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><b><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Amount of Holdings</font></u></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Heung Mei Tsui</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Director</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">10,812,651</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Zhilin Li</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Director, President and CEO</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">10,000,000</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Frank Waung</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">CFO</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 24px; FONT-FAMILY: 'AVENIR'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">2,500</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Jian Yang</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Secretary</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 6px; FONT-FAMILY: 'AVENIR'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">2,278,815</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 0px; FONT-FAMILY: 'AVENIR'" align="justify"><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Total</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top"><font size="2">&nbsp;</font></td>

                    <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 6px; FONT-FAMILY: 'AVENIR'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">23,093,966</font></p>
                    </td>
                </tr>
            </table>

            <p></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 21px; FONT-FAMILY: 'AVENIR'" align="justify"><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Stock Held by Non-affiliate</font></u></p>

            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">42,308,350 - 23,093,966 = 19,214,384 shares</p>
            </blockquote>

            <p></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 10.8pt; MARGIN-LEFT: 0in; COLOR: #000000; TEXT-INDENT: 21px; FONT-FAMILY: 'AVENIR'" align="justify"><font size="2"><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Stock </font></u><u><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">Price</font></u></font></p>

            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">On December 28, 2009, the close price of the common stock of the Company trading on NYSE AMEX was $3.93.</p>
            </blockquote>

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 21px" align="justify"><font size="2"><u><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Aggregate Market Value of </font></u><u>Public Float</u></font></p>

            <p></p>

            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
                <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">19,214,384 * $3.93 = $75,512,529.12</p>
            </blockquote>

            <p></p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">If you have further requirements or questions, please do not hesitate to contact the undersigned at (1408) 947-1960 or by facsimile at (0086-10) 58785566.</p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify"></p>

            <table cellspacing="0" cellpadding="0" width="75%" border="0">
                <tr valign="bottom">
                    <td align="left" width="3%">
                    </td>

                    <td align="left" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="196"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" colspan="3"><font face="Times New Roman, Times, serif" size="2">Very truly yours,&nbsp;&nbsp;</font></td>
                </tr>

                <tr>
                    <td align="left">
                    </td>

                    <td align="left">
                    </td>

                    <td align="left" width="196">
                    </td>

                    <td align="left" width="439">&nbsp;</td>

                    <td align="left" width="30">
                    </td>

                    <td align="left">
                    </td>
                </tr>

                <tr valign="bottom">
                    <td align="left">
                    </td>

                    <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="196"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" colspan="3"><font face="Times New Roman, Times, serif" size="2">KING AND WOOD, LLP&nbsp;&nbsp;</font></td>
                </tr>

                <tr>
                    <td align="left">
                    </td>

                    <td align="left">
                    </td>

                    <td align="left" width="196">
                    </td>

                    <td align="left" width="439">&nbsp;</td>

                    <td align="left" width="30">
                    </td>

                    <td align="left">
                    </td>
                </tr>

                <tr valign="bottom">
                    <td align="left">
                    </td>

                    <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="196"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="439"><font face="Times New Roman, Times, serif" size="2">By: <u>/s/ Charles Law</u></font></td>

                    <td align="left" width="30"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                </tr>

                <tr valign="bottom">
                    <td align="left">
                    </td>

                    <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="196"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left" width="439"><font face="Times New Roman, Times, serif" size="2">Charles Law</font></td>

                    <td align="left" width="30"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                    <td align="left"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
                </tr>
            </table>
            <br>
            <br>

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 18px" align="justify"><font style="FONT-SIZE: 12pt" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
