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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
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 lQL6u+Y7PyTP9F4TQ8iX0A==

<SEC-DOCUMENT>0001010549-10-000048.txt : 20100203
<SEC-HEADER>0001010549-10-000048.hdr.sgml : 20100203
<ACCEPTANCE-DATETIME>20100203162357
ACCESSION NUMBER:		0001010549-10-000048
CONFORMED SUBMISSION TYPE:	POS AM
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20100203
DATE AS OF CHANGE:		20100203

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:		POS AM
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-141734
		FILM NUMBER:		10570967

	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>POS AM
<SEQUENCE>1
<FILENAME>cphposam1020310.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-SIZE: 12pt; FONT-FAMILY: 'TIMES NEW ROMAN'">
        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>
        <hr>

        <p></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'">As filed with the Securities and Exchange Commission on&nbsp;February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Registration No. 333-</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">141734</font></p>

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

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

        <p></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">UNITED STATES</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">WASHINGTON, D.C. 20549</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Post-Effective Amendment No. 1 to </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Form SB-2 on</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Form S-3</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">REGISTRATION STATEMENT UNDER</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">THE SECURITIES ACT OF 1933</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><a name="OLE_LINK10"></a><a name="OLE_LINK11"><font size="6">China Pharma</font></a> <font size="6">Holdings, Inc.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(Exact name of registrant as specified in its charter)</font></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Delaware</font></p>
                </td>

                <td valign="top" width="34%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">73-1564807</font></p>
                </td>

                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2834</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="34%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(State or Other Jurisdiction of</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Incorporation or Organization)</font></p>
                </td>

                <td valign="top" width="34%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(IRS Employer Identification No.)</font></p>
                </td>

                <td valign="top" width="33%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(Primary Standard Industrial</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Classification Code Number)</font></p>
                </td>
            </tr>
        </table>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2nd Floor, No. 17, Jinpan Road, Haikou,</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Hainan Province, China &nbsp;570216</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">0086-898-66811730</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(Address, including zip code, and Telephone Number, including area code, of Registrant&rsquo;s Principal Executive Offices)</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"></p>
        <hr width="200">

        <p align="center"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td width="100%">
                    <p align="center"><font size="2">Zhilin Li</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%">
                    <p align="center"><font size="2">President and Chief Executive Officer</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%">
                    <p align="center"><font size="2">2nd Floor, No. 17, Jinpan Road, Haikou,</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%">
                    <p align="center"><font size="2">Hainan Province, China 570216</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%">
                    <p align="center"><font size="2">0086-898-66811730</font></p>
                </td>
            </tr>

            <tr>
                <td width="100%">
                </td>
            </tr>

            <tr>
                <td width="100%">
                    <p align="center"><font size="2">(Name, Address, including zip code, and Telephone Number, including area code, of Agent for Service)</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"></p>
        <hr width="200">

        <p></p>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">With a copy to:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Charles Law, Esq.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">King &amp; Wood LLP</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">125 S. Market Street, Suite 1175,</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">San Jose, CA 95113</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Telephone: 1408</font><font style="FONT-SIZE: 10pt">-</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">947-1960; 0086-10-58785023</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Facsimile: 0086-10-58785566</font></p>

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

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Approximate date of commencement of proposed sale to the public</font></b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">:&nbsp; From time to time after this registration statement becomes effective.</font></p>

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

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</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'">If the only securities being registered on this form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 of the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.
        </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">&thorn;</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'">If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
        </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">If this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, please check the following box.
        </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, please check the following box.
        </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</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'">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.
        (Check one):</font></p>

        <p></p>

        <p></p>

        <table style="MARGIN-LEFT: 0.8in" cellspacing="0" cellpadding="0" width="564" align="center" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="middle" width="257">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="middle" width="48">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="middle" width="209">&nbsp;</td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="middle" width="50">&nbsp;</td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="257">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.1in; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Large accelerated filer</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'WINGDINGS'">o</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="209">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Accelerated filer</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">o</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="257">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.1in; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Non-accelerated filer</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left"><font style="FONT-FAMILY: 'WINGDINGS'">o</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="209">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Smaller reporting company</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'WINGDINGS'">x</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="257">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 5px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">(Do not check if a smaller reporting company)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">&nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="209">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.01in; PADDING-LEFT: 0.01in; PADDING-BOTTOM: 0.01in; PADDING-TOP: 0.01in" valign="top" width="50">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt">&nbsp;</font><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in
        accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said section 8(a), may determine.</font></b><font style="FONT-SIZE: 8pt; COLOR: #000000">&nbsp;</font></p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Explanatory Note</font></b></p>

        <p></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">The Registrant hereby files this post-effective amendment number one to its Registration Statement on Form SB-2 (No. 333-141734) filed with the Securities and Exchange Commission on March 30, 2007, as amended on Form SB-2/A on April 3, 2007 and further amended on Form SB-2/A on April 24, 2007.</p>

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

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Pursuant to Rule 429 of the Securities Act of 1933, as amended, this Registration Statement also serves as post-effective amendment number one to the Registration Statement on Form S-1 (No. 333-152272) initially filed with the Securities and Exchange Commission on July 11, 2008 as amended on July 29, 2008.&nbsp;</p>

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">This Post-Effective Amendment on Form&nbsp;S-3 is being filed to convert the Registration Statements on Form SB-2 (No. 333-141734) and Form S-1 (No. 333-152272) into a Registration Statement on Form&nbsp;S-3 and contains an updated prospectus relating to the offering and sale of the common stock remaining available for issuance under the
        Registration Statement.&nbsp; This Post-Effective Amendment amends and restates the information contained in the Registration Statement under the headings contained herein.<br>
        &nbsp;</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">The Registrant previously paid a registration fee of $207.71 in connection with the filing of the initial registration statement on Form SB-2 (No. 333-141734) filed with the Securities and Exchange Commission on March 30, 2007, to register the 3,758,823 shares of our common stock, of which 1,350,135 are to be offered for resale under this
        Registration Statement. &nbsp;The Registrant previously paid a registration fee of $540.08 in connection with the filing of the initial registration statement on Form S-1 (No. 333-152272) initially filed with the Securities and Exchange Commission on July 11, 2008, to register 6,450,000 shares of common stock, of which 5,487,500 are to be offered for resale under this Registration Statement.&nbsp;</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify"><b>THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES PUBLICLY UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE
        THE OFFER OR SALE IS NOT PERMITTED.</b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Subject to Completion, Dated</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">[&nbsp; ], 2010</font></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Prospectus</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">CHINA PHARMA HOLDINGS, INC.</font></b></p>

        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">6</font><font style="FONT-SIZE: 10pt">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">837</font><font style="FONT-SIZE: 10pt">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">635</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Shares of Common Stock</font></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">This prospectus relates to the resale of up to 6,837,635 shares of our common stock, which includes 2,285,292 shares of our common stock issuable upon exercise of warrants, by the selling stockholders named in this prospectus.</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">This offering is not being underwritten.&nbsp;</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">The prices at which the selling stockholders may sell their shares will be determined by the prevailing market price for the shares or in privately negotiated transactions. &nbsp;Information regarding the selling stockholders and the times and manner in which they may offer and sell the shares under this prospectus is provided under the
        &ldquo;Selling Stockholders&rdquo; and &ldquo;Plan of Distribution&rdquo; sections in this prospectus. &nbsp;We will not receive any of the proceeds from the sale of common stock under this prospectus.&nbsp;&nbsp;We may receive proceeds from the exercise price of the warrants if they are exercised by the selling stockholders.</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Our common stock is listed on the NYSE AMEX (formerly known as the American Stock Exchange) under the trading symbol &ldquo;CPHI&rdquo;. &nbsp;On February 1, 2010, the closing bid for our common stock as reported on the NYSE AMEX was $3.48 per share. &nbsp;As of February 1, 2010 we had 43,393,644 shares of common stock issued and
        outstanding.</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"><b>Investing in our</b> <b>securities</b> <b>involves risk. You should carefully consider the risk factors beginning on page&nbsp;</b> <b>2</b> <b>of this prospectus before</b> <b>investing</b> <b>in our securities.</b></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"><b>NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES, OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</b></p>

        <p></p>

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">The date of this prospectus is</font> ________<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">, 201</font><font style="FONT-SIZE: 10pt">0</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 8pt">&nbsp; </font><!-- NEXT PAGE SECTION BREAK  --></p>

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            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Table of Contents</font></b></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ABOUT THIS PROSPECTUS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">1</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ABOUT OUR COMPANY</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">1</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">RISK FACTORS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">USE OF PROCEEDS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">2</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">SELLING STOCKHOLDERS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">PLAN OF DISTRIBUTION</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">6</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">DESCRIPTION OF OUR CAPITAL STOCK</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">7</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">LEGAL MATTERS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">9</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">EXPERTS</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">9</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">WHERE YOU CAN FIND MORE INFORMATION</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">10</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="88%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">10</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="5%">&nbsp;</td>
            </tr>
        </table>

        <p></p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify"><b>You should rely only on the information contained or incorporated by reference in this prospectus or any prospectus supplement. We have not authorized anyone to provide you with information different from that contained or incorporated by reference into this prospectus. If any person does provide you with information that differs from what is
        contained or incorporated by reference in this prospectus, you should not rely on it. No dealer, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus. You should assume that the information contained in this prospectus or any prospectus supplement is accurate only as of the date on the front of the document and that any information contained in any document we have incorporated by reference is accurate only as of the
        date of the document incorporated by reference, regardless of the time of delivery of this prospectus or any prospectus supplement or any sale of a security. These documents are not an offer to sell or a solicitation of an offer to buy these securities in any circumstances under which the offer or solicitation is unlawful.</b></p>

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        <p></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ABOUT THIS PROSPECTUS</font></b></p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">This prospectus constitutes part of the registration statement of Form S-3 filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), utilizing a &ldquo;shelf&rdquo; registration or continuous offering process. It omits some of the information contained in the registration
        statement and reference is made to the registration statement for further information with regard to us and the securities being offered by the selling shareholders. Any statement contained in the prospectus concerning the provisions of any document filed as an exhibit to the registration statement or otherwise filed with the Securities and Exchange Commission is not necessarily complete, and in each instance, reference is made to the copy of the document filed.</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">This prospectus and any accompanying prospectus supplement or other offering materials do not contain all of the information included in the registration statement as permitted by the rules and regulations of the SEC. For further information, we refer you to the registration statement on Form S-3, including its exhibits. We are subject to the
        informational requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, therefore, file reports and other information with the SEC. Statements contained in this prospectus and any accompanying prospectus supplement, or other offering materials about the provisions or contents of any agreement or other document are only summaries. If SEC rules require that any agreement or document be filed as an exhibit to the registration statement, you should refer to
        that agreement or document for its complete contents.<br>
        &nbsp;<br>
        You should not assume that the information in this prospectus, any prospectus supplement or any other offering materials is accurate as of any date other than the date on the front of each document. Our business, financial condition, results of operations and prospects may have changed since then.</p>

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Unless otherwise indicated in this prospectus or the context otherwise requires, references to &ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;China Pharma&rdquo;, &ldquo;the Company&rdquo; or &ldquo;our Company&rdquo; refer to China Pharma Holdings, Inc. and its wholly owned subsidiaries.&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ABOUT OUR COMPANY</font></b></p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">China Pharma Holdings, Inc. (formerly, TS Electronics, Inc. and prior thereto, Softstone, Inc.) was incorporated on January 28, 1999, pursuant to the provisions of the General Corporation Act of the State of Delaware. On May 31, 1999, we merged with Soft Stone Building Products, Inc., an Oklahoma corporation that was a predecessor to our
        Company&rsquo;s business. Our initial business operations were conducted at 620 Dallas Drive, Denton TX, 76205.<a name="_DV_M82"></a> On February 1, 2000, we moved our offices and facilities to Ardmore, OK. In June 2002, we moved our office facilities to Pottsboro, TX. On August 13, 2003, we changed our name to TS Electronics, Inc. On March 15, 2006, we changed our name from TS Electronics, Inc. to China Pharma Holdings, Inc.</p>

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">On October 19, 2005 we entered into a Securities Exchange Agreement (the &ldquo;Exchange Agreement&rdquo;) with Onny Investment Limited (&ldquo;Onny&rdquo;), a British Virgin Islands company, and its original stockholders pursuant to which we acquired all of the issued and outstanding shares of Onny from its original stockholders in exchange for
        27,499,940 shares of our common stock. Upon the closing of the exchange transaction (the &ldquo;Exchange Transaction&rdquo;), Onny became the wholly owned subsidiary of our Company.</p>

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Hainan Helpson Medical &amp; Biotechnology Co., Ltd. (&ldquo;Helpson&rdquo;) is a foreign-invested enterprise established in Haikou, Hainan Province, People&rsquo;s Republic of China (&ldquo;PRC&rdquo;) on February 25, 1993. On May 25, 2005, Onny acquired all the equity interests in Helpson in exchange for the assumption of obligations to make
        cash payments to the Helpson shareholders in the form of common stock dividends from Helpson of $4,154,041, the assumption of $4,646,409 of other liabilities and the issuance of non-interest bearing promissory notes totaling $3,413,265 payable three months after Helpson obtains a business license in the PRC as a wholly foreign owned enterprise. Effective on June 21, 2005, Onny became the sole stockholder of Helpson, which became a wholly foreign owned enterprise as defined by PRC law.
        As of July 4, 2006, Helpson increased its registered capital from RMB 28,000,000 (approximately US$4,101,302) to RMB 60,000,000 (approximately US$8,788,505) and changed its registered address from Unit 8, D Area, Office Hall, Haikou Bonded Zone, Haikou, Hainan Province, China to C09-2, Haikou Bonded Zone, Haikou, Hainan Province, PRC.</p>

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        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Helpson's primary business is the manufacturing, marketing and sales of pharmaceuticals and nutritional supplements. Helpson manufactures and markets products in three major categories: biochemical products, health products and cosmetics. At present, Helpson is manufacturing or ready to manufacture a total of 20 kinds of pharmaceutical
        products.&nbsp;</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Helpson positions itself as a specialty pharmaceutical company with rapidly growing profit that develops, manufactures, and markets treatments for a wide range of high incidence and high mortality conditions in China, including cardio and cerebrovascular diseases, Central Nervous System (CNS) disease, infectious disease, and hepatitis. Helpson's
        cost-effective, high margin business model is driven by market demand and supported by 8 scalable GMP-certified production lines covering the major dosage forms. In addition, Helpson has a broad and expanding distribution network across 30 Chinese provinces, municipalities and autonomous regions.</p>

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

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

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Our principal executive offices are located at 2nd Floor, No. 17, Jinpan Road, Haikou, Hainan Province, PRC. Our telephone number at that address is 0086-898-66811730.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The statements contained in this Form S-3 that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. These include statements about the Company&rsquo;s expectations, beliefs, intentions or strategies for the
        future, which are indicated by words or phrases such as &ldquo;anticipate&rdquo;, &ldquo;expect&rdquo;, &ldquo;intend&rdquo;, &ldquo;plan&rdquo;, &ldquo;will&rdquo;, &ldquo;the Company believes&rdquo;, &ldquo;management believes&rdquo; and similar words or phrases. The forward-looking statements are based on the Company&rsquo;s current expectations and are subject to certain risks, uncertainties and assumptions. The Company&rsquo;s actual results could differ materially from results
        anticipated in these forward-looking statements. All forward-looking statements included in this document are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements.</p>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;</font><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">RISK FACTORS</font></b></p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">&nbsp;Investing in our common stock involves risk. You should carefully consider the specific risks discussed or incorporated by reference into the applicable prospectus supplement, together with all the other information contained in the prospectus supplement or incorporated by reference into this
        prospectus and the applicable prospectus supplement. You should also consider the risks, uncertainties and assumptions discussed under the caption "Risk Factors" included in our Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2008, as amended on Form&nbsp;10-K/A, and in subsequent filings, which are incorporated by reference into this prospectus. These risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC in
        the future or by a prospectus supplement relating to a particular offering of common stock. These risks and uncertainties are not the only risks and uncertainties we face. Additional risks and uncertainties not presently known to us, or that we currently view as immaterial, may also impair our business. If any of the risks or uncertainties described in our SEC filings or any prospectus supplement or any additional risks and uncertainties actually occur, our business, financial condition
        and results of operations could be materially and adversely affected. In that case, the trading price of our securities could decline and you might lose all or part of your investment.&nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;</font><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">USE OF PROCEEDS</font></b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We will not receive any proceeds from the sale of shares of our common stock by the selling stockholders. A portion of the shares covered by this prospectus are issuable upon exercise of warrants to purchase our common stock. Upon any exercise of the warrants for cash, the selling stockholders would pay
        us the exercise price of the warrants. The cash exercise price of the warrants ranges from $2.38 to $3.60 per share of our common stock, subject to adjustment as set forth in the warrants. Some warrants are exercisable on a cashless basis under certain conditions set forth in those warrants. If the warrants are exercised on a cashless basis, we would not receive any cash payment from the selling stockholders upon any exercise of the warrants. Instead, the selling stockholders would
        satisfy their obligation to pay the exercise price through a formula-based transfer of warrant shares to us.</p>

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        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The selling stockholders will pay any commissions and expenses incurred by the selling stockholders for brokerage, accounting, tax or legal services or any other expenses incurred by the selling stockholders in disposing of the shares. We will bear all other costs, fees and expenses incurred in
        effecting the registration of the shares covered by this prospectus, including, without limitation, all registration and filing fees and fees and expenses of our counsel and our auditors.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;</font><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">SELLING STOCKHOLDERS</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The following table sets forth certain information concerning the resale of the shares of common stock by the Selling Stockholders. &nbsp;Unless otherwise described below, to our knowledge, no selling shareholder nor any of their affiliates has held any position or office with, been employed by or
        otherwise has had any material relationship with us or our affiliates during the three years prior to the date of this prospectus. &nbsp;Unless otherwise described below, the Selling Stockholders have confirmed to us that they are not broker-dealers or affiliates of a broker-dealer within the meaning of Rule 405 of the Securities Act, as amended.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We do not know how long the selling stockholders will hold the shares before selling them or how many shares they will sell, and we currently have no agreements, arrangements or understandings with any of the selling stockholders regarding the sale of any of the resale shares.&nbsp;&nbsp;The shares
        offered by this prospectus may be offered from time to time by the selling stockholders listed below.&nbsp;&nbsp;Accordingly, no estimate can be given as to the amount or percentage of our common stock that will be held by the Selling Stockholders upon termination of sales pursuant to this prospectus. &nbsp;In addition, the Selling Shareholder identified below may have sold, transferred or disposed of all or a portion of their shares since the date on which they provided the information
        regarding their holdings in transactions exempt from the registration requirements of the Securities Act. Individual beneficial ownership of the Selling Stockholders also includes shares of common stock that a person has the right to acquire within 60 days from January 18, 2010.&nbsp;&nbsp;See &ldquo;Description of Securities &ndash;Warrants.&rdquo;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Percentage of beneficial ownership is based on 42,675,997 shares of our common stock outstanding as of January 18, 2010. Unless otherwise indicated, the Selling Stockholders have the sole power to direct the voting and investment over the shares owned by them. We will not receive any proceeds from the
        resale of the common stock by the Selling Stockholders.&nbsp;&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt"><a name="OLE_LINK7"></a><a name="OLE_LINK8"></a></font></p>

        <table cellspacing="0" cellpadding="0" width="800" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name of Selling Stockholder</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Shares Beneficially Owned Prior to Offering </font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Maximum Number of Shares to be Sold </font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Number of Shares Beneficially Owned After Offering </font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Percentage Ownership After Offering &Dagger;</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><a name="_Hlk250476662"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Pope Investments LLC (1)</font></a></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">600,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">500,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">100,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Pope Investments II LLC</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(2)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1,900,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1,750,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">150,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Guerrilla Partners, LP (3)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">975,683</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">503,418</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">472,265</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1.10%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Hua-Mei 21st Century Partners, LP (4)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1,757,623</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1,157,793</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">599,830</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1.40%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Guerrilla IRA Partners, LP (5)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">9,375</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">9,375</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Lake Street Fund, L.P. (6)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">781,250</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">781,250</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Gregory Cook Wedbush Morgan Sec Inc. CTDN/ IRA Contributory 1/16/02 (7)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">15,625</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">15,625</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">Fred L. Astman Wedbush Securities Inc Cust/ IRA R/O Holding 10/13/92 (8)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">375,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">375,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Joseph Anthony Cardaropoli Wedbush Morgan Securities CTDN/ IRA Rollover 1/12/06</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">9)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">15,625</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">15,625</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">John Peter Selda Wedbush Morgan Securities Inc. CTDN/ IRA Contributory 08/27/96 (10)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">62,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">62,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>
        </table>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">3</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="800" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Heller Capital Investments, LLC (11)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">50,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">50,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Chestnut Ridge Partners, LP (12)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">37,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">37,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Kensington Partners, L.P. (13)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">464,865</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">464,865</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Bald Eagle Fund, Ltd. (14)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">22,635</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">22,635</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Straus Partners, L.P. (15) </font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">514,817</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">112,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">402,317</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Straus-GEPT Partners, L.P. (16)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">342,809</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">75,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">267,809</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Sandor Capital Master Fund, L.P. (17)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">12,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">12,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">MidSouth Investor Fund LP (18)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">496,490</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">62,500</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">433,990</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">1.02%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">FirsTrust Group, Inc. (19)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">150,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">150,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Hayden Communications International, Inc. (20)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">66,666</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">50,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">16,666</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Squires Family LP (21)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">200,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">100,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">100,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Whitebox Intermarket Partners L.P.(22) </font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">147,058</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">147,058</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Whitebox&nbsp;combined Fund Partners, LP</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(23)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">333,155</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">38,373</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">294,782</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Crestview Capital Master, LLC (24)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">117,647</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">117,647</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Silver Rock I, Ltd</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(25)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">50,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">50,000</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Option Opportunities</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Corp. (26</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">117,647</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">117,647</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="middle" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Topwin Trading (H.K.) Company Limited.</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(27)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">29,412</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">29,412</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Iroquois Master Fund, Ltd.</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">(28)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">29,412</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">29,412</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><b><font style="FONT-FAMILY: 'KAITI_GB2312'"><b><font style="FONT-FAMILY: 'KAITI_GB2312'">*</font></b></font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="187">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">9,675,294</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="84">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="right"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">6,837,635</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="108">
                    <p style="MARGIN-TOP: 5pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 5pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="center"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">2,837,659</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="80">&nbsp;</td>
            </tr>
        </table>
        <br>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"><b><a name="OLE_LINK9"></a></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"><font style="COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">*Calculated based on Rule 13(d)-3(d)(1)(i) of the Exchange Act using 42,675,997</font> <font style="COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">shares of common stock outstanding as of January 18, 2010.&nbsp;&nbsp;In calculating each respective selling security holder&rsquo;s
        percentage, we did not assume the issuance of any other shares issuable upon exercise of outstanding warrants except for those underlying the holder&rsquo;s own derivative securities.</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">&Dagger;Less than 1%.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="right" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                <td valign="top" align="right" width="1%"><font face="Times New Roman, Times, serif" size="2">(1)</font></td>

                <td align="left" width="2%">
                </td>

                <td width="94%">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 100,000 shares of our common stock; and (b ) 500,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. William P. Wells has the voting and investment powers over the shares held by Pope Investments LLC.</font></p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(2)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 1,900,000 shares of our common stock. William P. Wells has the voting and investment powers over the shares held by Pope Investments II LLC.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(3)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 733,294 shares of our common stock; (b) 120 ,514 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share, 83,750 shares of which were acquired from Halter Pope USX China Fund on January 20, 2010; and (c) 121,875 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Peter Siris and Leigh S. Curry
                    have the voting and investment powers over shares held by Guerrilla Partners, LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(4)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 1,423,359 shares of our common stock; (b) 146,764 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share, 110,000 shares of which were acquired from Halter Pope USX China Fund on January 20, 2010; and (c) 187,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Peter Siris and Leigh S.
                    Curry have the voting and investment powers over shares held by Hua-Mei 21 st Century Partners, LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(5)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 6,250 shares of our common stock issuable upon exercise of warrants with an exercise price of $2. 38 per share which were acquired from Halter Pope USX China Fund on January 20, 2010; and (b) 3,125 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Peter Siris and Leigh S. Curry have the voting and investment powers over shares held by
                    Guerrilla IRA Partners, LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(6)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 625,000 shares of our common stock; and (b) 156,250 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Scott W. Hood and Fred Astman have shared voting and investment powers over shares held by Lake Street Fund, L.P.</font></p>
                </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>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">4</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="right" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                <td valign="top" width="1%">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(7)</font></p>
                </td>

                <td align="left" width="2%">
                </td>

                <td width="94%">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 12,500 shares of our common stock; and (b) 3,125 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Gregory Cook has the voting and investment powers over shares held by Gregory Cook Wedbush Morgan Sec Inc. CTDN/ IRA Contributory 1/16/02.</font></p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(8)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 300,000 shares of our common stock; and (b) 75,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Fred L. Astman has the voting and investment powers over shares held by Fred L. Astman Wedbush Securities Inc Cust/ IRA R/O Holding 10/13/92.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(9)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 12,500 shares of our common stock; and (b) 3,125 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Joseph Anthony Cardaropoli has the voting and investment powers over shares held by Joseph Anthony Cardaropoli Wedbush Morgan Securities CTDN/ IRA R ollover 1/12/ 06</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(10)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 50,000 shares of our common stock; and (b) 12,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. John Peter Selda has the voting and investment powers over shares held by John Peter Selda Wedbush Morgan Securities Inc. CTDN/ IRA Contributory 08/27/96.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(11)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 50,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share . Ronald I. Heller has the voting and investment powers over shares held by Heller Capital Investments, LLC.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(12)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 37,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share . Kenneth Pasternak has the voting and investment powers over shares held by Chestnut Ridge Partners, LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(13)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 333,660 shares of our common stock; (b) 95,580 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share; and (c ) 35,625 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Richard Keim has the voting and investment powers over shares held by Kensington Partners , L.P.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(14)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 16,340 shares of our common stock; (b) 4,420 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share; and ( c) 1,875 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Richard Keim has the voting and investment powers over shares held by Bald Eagle Fund, Ltd.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(15)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 492,317 shares of our common stock; and (b) 22,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Melville Straus has the voting and investment powers over shares held by Straus Partners, L .P.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(16)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 327,809 shares of our common stock; and (b) 15,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Melville Straus has the voting and investment powers over shares held by Straus-GEPT Partners, L.P.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(17)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 12,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. John S. Lemak has the voting and investment powers over shares held by Sandor Capital Master Fund, L.P.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(18)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 483,990 shares of our common stock; and ( b) 12,500 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share. Lyman O. Heidtke has the voting and investment powers over shares held by MidSouth Investor Fund LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(19)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 75,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.80 per share and (b) 75,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $3.60 per share. FirsTrust Group, Inc. received the warrants as part of the compensation for the management consulting and advisory services provided to us by its wholly owned
                    subsidiary, FirsTrust China Ltd. Jian Ke has the voting and investment powers over shares held by FirsTrust Group, Inc.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(20)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes (a) 33,333 shares of our common stock issuable upon exercise of warrants with an exercise price of $3.00 per share and (b) 33 ,333 shares of our common stock issuable upon exercise of warrants with an exercise price of $3.50 per share. Hayden Communications International, Inc. received the warrants as part of the compensation for its consulting services. Matthew Hayden has the voting and
                    investment powers over shares held by Hayden Communications International, Inc.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(21)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 200,000 shares of our common stock. Richard D. Squires has the voting and investment powers over shares held by Squires Family LP.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(22)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 147,058 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share. Andrew J. Redleaf has the voting and investment powers over shares held by Whitebox Intermarket Partners L.P.</font></p>
                </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>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify">&nbsp;</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">5</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="justify">&nbsp;</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="right" width="1%"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>

                <td valign="top" align="right" width="1%"><font face="Times New Roman, Times, serif" size="2">(23)</font></td>

                <td align="left" width="2%">
                </td>

                <td width="94%">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 333,155 shares of our common stock. Andrew J. Redleaf has the voting and investment powers over shares held by Whitebox combined Fund Partners, LP.</font></p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(24)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 117,647 shares of our common stock. Daniel Warsh has the voting and investment powers over shares held by Crestview Capital Master, LLC.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(25)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 50,000 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share. Rima Salam has the voting and investment powers over shares held by Silver Rock I, Ltd.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(26)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 117,647 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share. Daniel Warsh has the voting and investment powers over shares held by Option Opportunities Corp.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(27)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 29,412 shares of our common stock. Fang Xuyuan has the voting and investment powers over shares held by Topwin Trading (H.K.) Company Limited.</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="right">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="right">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">(28)</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">Includes 29,412 shares of our common stock issuable upon exercise of warrants with an exercise price of $2.38 per share. Joshua Silverman has the voting and investment powers over shares held by Iroquois Master Fund, Ltd.</font></p>
                </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>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">PLAN OF DISTRIBUTION</font></b></p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">We are registering the shares of common stock on behalf of the Selling Stockholders. The selling security holders and any of their pledgees, donees, assignees and successors-in-interest may, from time to time, sell any or all of their shares of common stock being offered under this prospectus on any stock exchange, market or trading facility on
        which shares of our common stock are traded or in private transactions.&nbsp;&nbsp;These sales may be at fixed or negotiated prices.&nbsp;&nbsp;The selling security holders may use any one or more of the following methods when disposing of shares:</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="100%" border="0">
            <tr valign="bottom">
                <td align="left" width="4">
                </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>

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

                <td width="96%">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">transactions on NYSE AMEX or any other national securities exchange or U.S. inter-dealer system of a registered national securities association on which the common stock may be listed or quoted at the time of sale;</font></p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left" width="1%">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">&bull;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">purchases by a broker-dealer as principal and resales by the broker-dealer for its account;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">an exchange distribution in accordance with the rules of the applicable exchange;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">privately negotiated transactions;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">&bull;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">to cover short sales made after the date that the registration statement of which this prospectus is a part is declared effective by the Commission;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td valign="top" align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">&bull;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">broker-dealers may agree with the selling security holders to sell a specified number of such shares at a stipulated price per share;</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">a combination of any of these methods of sale; and</font></p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>
            </tr>

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

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

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

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

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

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

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

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

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

            <tr valign="bottom">
                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

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

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify">&nbsp;</p>
                </td>

                <td align="left">
                    <p align="justify"><font face="Times New Roman, Times, serif" size="2">any other method permitted pursuant to applicable law.</font></p>
                </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>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The shares may also be sold under Rule 144 under the Securities Act of 1933, as amended if available, rather than under this prospectus.&nbsp;&nbsp;The selling security holders have the sole and absolute discretion not to accept any purchase offer or make any sale of shares if they deem the purchase
        price to be unsatisfactory at any particular time.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">6</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The selling security holders may pledge their shares to their brokers under the margin provisions of customer agreements.&nbsp;&nbsp;If a selling security holder defaults on a margin loan, the broker may, from time to time, offer and sell the pledged shares.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Broker-dealers engaged by the selling security holders may arrange for other broker-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling security holders (or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts
        to be negotiated, which commissions as to a particular broker or dealer may be in excess of customary commissions to the extent permitted by applicable law.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">If sales of shares offered under this prospectus are made to broker-dealers as principals, we would be required to file a post-effective amendment to the registration statement of which this prospectus is a part.&nbsp;&nbsp;In the post-effective amendment, we would be required to disclose the names of
        any participating broker-dealers and the compensation arrangements relating to such sales.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The selling security holders and any broker-dealers or agents that are involved in selling the shares offered under this prospectus may be deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities Act in connection with these sales.&nbsp;&nbsp;Commissions received by these
        broker-dealers or agents and any profit on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act.&nbsp;&nbsp;Any broker-dealers or agents that are deemed to be underwriters may not sell shares offered under this prospectus unless and until we set forth the names of the underwriters and the material details of their underwriting arrangements in a supplement to this prospectus or, if required, in a replacement
        prospectus included in a post-effective amendment to the registration statement of which this prospectus is a part.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The selling security holders and any other persons participating in the sale or distribution of the shares offered under this prospectus will be subject to applicable provisions of the Exchange Act, and the rules and regulations under that act, including Regulation M.&nbsp;&nbsp;These provisions may
        restrict activities of, and limit the timing of purchases and sales of any of the shares by, the selling security holders or any other person.&nbsp;&nbsp;Furthermore, under Regulation M, persons engaged in a distribution of securities are prohibited from simultaneously engaging in market making and other activities with respect to those securities for a specified period of time prior to the commencement of such distributions, subject to specified exceptions or exemptions.&nbsp;&nbsp;All
        of these limitations may affect the marketability of the shares.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">If any of the shares of common stock offered for sale pursuant to this prospectus are transferred other than pursuant to a sale under this prospectus, then subsequent holders could not use this prospectus until a post-effective amendment or prospectus supplement is filed, naming such
        holders.&nbsp;&nbsp;We offer no assurance as to whether any of the selling security holders will sell all or any portion of the shares offered under this prospectus.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We have agreed to pay all fees and expenses we incur incident to the registration of the shares being offered under this prospectus.&nbsp;&nbsp;However, each selling security holder and purchaser is responsible for paying any discounts, commissions and similar selling expenses they incur.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We and the selling security holders have agreed to indemnify one another against certain losses, damages and liabilities arising in connection with this prospectus, including liabilities under the Securities Act.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;</font><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">DESCRIPTION OF OUR CAPITAL STOCK</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Our authorized capital consists of 60,000,000 shares of common stock, $0.001 par value per share.&nbsp;&nbsp;As of January 27, 2010, there were 42,793,644 shares of our common stock issued and outstanding.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Common Stock</font></b>&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We are authorized to issue up to 60,000,000 shares of Common Stock, par value US$.001 per share, of which 42,793,644 were issued and outstanding as of January 27, 2010.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">7</font></a>
        </div>

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            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Each outstanding share of Common Stock entitles the holder thereof to one vote per share on matters submitted to a vote of shareholders.&nbsp;&nbsp;Stockholders do not have preemptive rights to purchase shares in any future issuance of our Common Stock.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The holders of shares of our Common Stock are entitled to dividends out of funds legally available when and as declared by our board of directors. Our board of directors has never declared a dividend. Should we decide in the future to pay dividends, it will be at the discretion of the Board of Directors
        and will be dependent upon then existing conditions, including the company&rsquo;s financial condition and the results of operations, capital requirements, contractual restrictions, business prospects, and other factors that the Board of Directors considers relevant.&nbsp;&nbsp;Each share shall be entitled to the same dividend.&nbsp;&nbsp;In the event of our liquidation, dissolution or winding up, holders of our Common Stock are entitled to receive, ratably, the net assets available to
        stockholders after payment of all creditors.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">All of the issued and outstanding shares of our Common Stock are duly authorized, validly issued, fully paid and non-assessable. To the extent that additional shares of our Common Stock are issued, the relative interests of existing stockholders will be diluted.</p>

        <p align="justify"><strong><font size="2">Warrants</font></strong></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify"><b>Warrants Issued in 2007 Private Placement</b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">On February 1, 2007, we completed an offering pursuant to a Subscription and Registration Rights Agreement with 17 accredited investors in connection with a private placement of 2,505,882 shares of the Company's common stock at $1.7 per share (&ldquo;2007 Private Placement&rdquo;). In the 2007 Private
        Placement, the investors also received three-year warrants to purchase an aggregate of 1,252,941 shares of Company's common stock at $2.38 per share. Those warrants expire at 5 p.m. New York Time on February 1, 2010 (&ldquo;Expiration Time&rdquo;). The warrant holders have exercised warrants to purchase an aggregate of 1,164,704 shares of the Company&rsquo;s common stock (with the fractional shares eliminated) till the Expiration Time. The remaining warrants to purchase 88,235 shares of
        the Company&rsquo;s common stock expired on the Expiration Time.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify"><b>Warrants Issued in 200</b><b>8</b> <b>Private Placement</b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">In May 2008, the Company completed an offering of units priced at $2.00 per unit consisting of one share of the Company&rsquo;s common stock and a warrant to purchase one-quarter of a share of the Company&rsquo;s common stock with an exercise price of $2.80 per share (&ldquo;2008 Private
        Placement&rdquo;). Those warrants expire at 6:30 p.m. New York Time on May 27, 2011. In the 2008 Private Placement, the Company issued three-year warrants to purchase an aggregate of 1,250,000 shares of Company's common stock to 17 accredited investors. In addition, the placement agent in the transaction was issued three-year warrants to purchase 300,000 shares of common stock at an exercise price of $2.98 per share.&nbsp; All the warrants issued in the 2008 Private Placement remain
        unexercised till February 1, 2010.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify"><b>Warrants Issued as Equity Compensation</b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">On June 24, 2008, the Company issued to FirsTrust Group, Inc. three-year warrants to purchase 75,000 shares of the Company&rsquo;s common stock at $2.80 per share and three-year warrants to purchase 75,000 shares of the Company&rsquo;s common stock at $3.60 per share. The warrants expire at 6:30 p.m.
        New York Time on June 24, 2011. The Company issued the above warrants as equity compensation under the Consulting Agreement and the Supplementary Agreement entered into between the Company and FirsTrust China Ltd. (the wholly-owned subsidiary of FirsTrust Group, Inc.).</p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">On the same date, the Company issued to Hayden Communications International, Inc. three-year warrants to purchase 25,000 shares of the Company&rsquo;s common stock at $3.00 per share and three-year warrants to purchase 25,000 shares of the Company&rsquo;s common stock at $3.50 per share. The warrants
        expire at 6:30 p.m. New York Time on June 24, 2011. The Company issued the above warrants as equity compensation under the Investor Relations Consulting Agreement entered into between the Company and Hayden Communications International, Inc.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">8</font></a>
        </div>

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            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">On December 24, 2008, the Company issued to Hayden Communications International, Inc. three-year warrants to purchase 8,333 shares of the Company's common stock at $3.0 per share and three-year warrants to purchase 8,333 shares of the Company's common stock at $3.5 per share. The warrants may be
        exercised at any time and from time to time from and after January 2, 2009 through and including January 1, 2012. The Company issued these warrants as part of the equity compensation under the Investor Relations Consulting Agreement, which was terminated by the Company in August 2008.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Delaware Anti-Takeover Law</font></b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The provisions of the Delaware General Corporation Law, our amended and restated certificate of incorporation and our amended and restated bylaws described below may have the effect of delaying, deferring, or discouraging another person from acquiring control of us.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We are subject to the provisions of Section&nbsp;203 of the Delaware General Corporation Law regulating corporate takeovers. This section&nbsp;prevents Delaware corporations from engaging, under limited circumstances, in a business combination, which includes a merger or sale of more than 10 percent of
        the corporation&rsquo;s assets, with any interested stockholder, which is a stockholder who owns 15 percent or more of the corporation&rsquo;s outstanding voting stock, as well as affiliates and associates of stockholders, for three years following the date that the stockholder became an interested stockholder unless:</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 10pt; MARGIN-LEFT: 0.8in; TEXT-INDENT: -18px" align="justify">&bull;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">the transaction is approved by the board of directors before the date the interested stockholder attained that status;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 10pt; MARGIN-LEFT: 0.8in; TEXT-INDENT: -18px" align="justify">&bull;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">upon the closing of the transaction that resulted in the stockholder becoming an interested stockholder, the stockholder owned at least 85 percent of the voting stock of the corporation outstanding at the time the transaction commenced; or</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 10pt; MARGIN-LEFT: 0.8in; TEXT-INDENT: -18px" align="justify">&bull;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">on or after the date the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders by at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.</font></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">A Delaware corporation may opt out of this provision with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or bylaws resulting from a stockholders&rsquo; amendment approved by at least a majority of the outstanding voting
        shares. However, we have not opted out of this provision. This provision of the Delaware General Corporation Law could prohibit or delay mergers or other takeover or change-in-control attempts and may discourage attempts to acquire us.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Transfer Agent</font></b>&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The transfer agent for our common stock and preferred stock is Securities Transfer Corporation, 2591 Dallas Parkway, Suite 102, Frisco Texas 75034.</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Certain Effects of Authorized but Unissued Stock</font></b>&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">As of January 27, 2010, we had 17,206,356<b>&nbsp;</b> shares of Common Stock remaining authorized but unissued.&nbsp;&nbsp;Authorized but unissued shares of Common Stock may be issued without shareholder approval.&nbsp;&nbsp;Your percentage of ownership in us will be diluted if and when we authorize
        and issue these additional shares.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">LEGAL MATTERS</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The validity of&nbsp;the of the common stock being offered hereby&nbsp;has been passed upon for us by King &amp; Wood LLP, California with respect to the remaining shares.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">9</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">EXPERTS</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The consolidated financial statements of China Pharma Holdings, Inc. and subsidiaries as of December 31, 2008 and 2007 and for the years then ended, incorporated in this prospectus by reference to our Annual Report on Form 10-K for the year ended December 31, 2008, have been so incorporated in reliance
        upon the report of Hansen, Barnett &amp; Maxwell, P.C., an independent registered public accounting firm, given on the authority of such firm as experts in accounting and auditing.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">WHERE YOU CAN FIND MORE INFORMATION</font></b></p>

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

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We are a public company and file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any document we file at the SEC&rsquo;s public reference room at 100 F Street, NE, Washington, D.C. 20549. You can request copies of these documents by
        writing to the SEC and paying a fee for the copying cost. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the public reference room. Our SEC filings are also available, at no charge, to the public at the SEC&rsquo;s web site at <font color="#0000ff"><u>http://www.sec.gov</u></font>.</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The following documents filed by us with the Securities and Exchange Commission are incorporated by reference in this prospectus:</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Annual Report on Form 10-K for the fiscal year ended December 31, 2008, filed on March 17, 2009 and amended by Form 10-K/A filed on June 24, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007, filed on March 31, 2008, amended by Form 10-KSB/A filed on March 12, 2009, and amended by Form 10-K/A filed on June 24, 2009 ;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-Q for the fiscal quarter ended&nbsp;September 30, 2009, filed on&nbsp;November 10, 2009;&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">&nbsp;</td>

                <td valign="top" width="15">&nbsp;</td>

                <td valign="top" width="507">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2009, filed on August 11, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009, filed on May 14, 2009 and amended by the Form 10-Q/A filed on June 24, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2008, filed on November 6, 2008, amended by the Form 10-Q/A filed on March 12, 2009, and amended by the Form 10-Q/A filed on June 24, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-QSB for the fiscal quarter ended June 30, 200 8, filed on August 5, 2008, amended by the Form 10-Q/A filed on March 12, 2009, and amended by the Form 10-Q/A filed on June 24, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-QSB for the fiscal quarter ended March 31, 200 8, filed on April 30, 2008, amended by the Form 10-Q/A filed on March 12 , 2009, and amended by the Form 10-Q/A filed on June 24, 2009;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-QSB for the fiscal quarter ended September 30, 200 7, filed on November 14, 2007;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-QSB for the fiscal quarter ended June 30, 200 7, filed on August 13, 2007;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Quarterly Report on Form 10-QSB for the fiscal quarter ended March 31, 2007, filed on May 15, 2007;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on October 1, 2009; </font>&nbsp;</p>
                </td>
            </tr>
        </table>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">10</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 36px" align="justify">&nbsp;</p>

        <p align="justify"></p>

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on September 4, 2009; </font>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on August 28, 2009;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on April 30, 2009;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">December 29, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">June 27, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">May 28, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">February 28, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font>&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Current Report on Form 8-K filed with the SEC on</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">February 4, 2008;</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="507">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">&nbsp;</td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">The description of our common stock contained in the Registration Statement on Form 8-A12B filed pursuant to Section 12 of the Exchange Act on September 28, 2009, including any amendment or report filed with the Commission for the purpose of updating this description ; and</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="31">&nbsp;</td>

                <td valign="top" width="15">&nbsp;</td>

                <td valign="top" width="507">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="31">&nbsp;</td>

                <td valign="top" width="15">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'SYMBOL'">&middot;</font></p>
                </td>

                <td valign="top" width="507">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">All of our filings made with the Securities and Exchange Commission pursuant to the Exchange Act after the date of the initial registration statement of which this prospectus forms a part and prior to the effectiveness of the registration statement of which this prospectus forms a part.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">All documents subsequently filed with the Securities and Exchange Commission by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of this prospectus and prior to the filing of a post-effective amendment which indicates that all securities offered herein have been sold
        or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be part of this prospectus from the respective dates of filing of such documents. Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof or of the related prospectus supplement to the extent that a statement contained herein or in any other
        subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus.</p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify"><b>We will provide to each person, including any beneficial owner, to whom a prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in the prospectus but not delivered with the prospectus. You may request a copy of these filings, excluding the exhibits
        to such filings which we have not specifically incorporated by reference in such filings, at no cost, by writing us at China Pharma Holdings, Inc., 2nd Floor, No. 17, Jinpan Road, Haikou, Hainan Province, China, or calling us at 86-10-898-66811730.</b></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">This prospectus is part of a registration statement we filed with the Securities and Exchange Commission. You should only rely on the information or representations contained in this prospectus and any accompanying prospectus supplement. We have not authorized anyone to provide information other than
        that provided in this prospectus and any accompanying prospectus supplement. We are not making an offer of these securities in any state where the offer is not permitted. You should not assume that the information in this prospectus or any accompanying prospectus supplement is accurate as of any date other than the date on the front of the document.</p>

        <p></p>

        <div title="EE+ Page Footer" style="MARGIN-TOP: 12pt">
            &nbsp;
        </div>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">11</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" noshade size="2">
        </div>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">PART II</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">INFORMATION NOT REQUIRED IN PROSPECTUS</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">The estimated expenses payable by the Registrant in connection with the issuance and distribution of the securities being registered are as follows:</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="80%" border="0">
            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="80%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">SEC Registration Fee</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 20px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">747.79</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="80%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Legal Fees and Expenses *</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">6</font><font style="FONT-SIZE: 10pt">0,000</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="80%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Accounting Fees and Expenses *</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 20px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">50</font><font style="FONT-SIZE: 10pt">,000</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ffffff">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="80%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Printing and miscellaneous Expenses*</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="3%">&nbsp;</td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 20px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">6,000</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">&nbsp;</td>
            </tr>

            <tr bgcolor="#ccdbe3">
                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="bottom" width="80%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Total</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">$</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">116,747.79</font></p>
                </td>

                <td style="BACKGROUND-POSITION: 0% 0%; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-IMAGE: none; BACKGROUND-REPEAT: repeat" valign="top" width="0%">&nbsp;</td>
            </tr>
        </table>

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

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">* Estimated</font></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 15. INDEMNIFICATION OF DIRECTORS AND OFFICERS</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Section 145 of the Delaware General Corporation Law permits our board of directors to indemnify any person against expenses (including attorneys&rsquo; fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by him or her in connection with any threatened, pending, or
        completed action, suit, or proceeding in which such person is made a party by reason of his or her being or having been a director, officer, employee, or agent of us, or serving or having served, at our request, as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, in terms sufficiently broad to permit such indemnification under certain circumstances for liabilities (including reimbursement for expenses incurred)
        arising under the Securities Act. The statute provides that indemnification pursuant to its provisions is not exclusive of other rights of indemnification to which a person may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors, or otherwise.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">We have adopted provisions in our certificate of incorporation, as amended, and amended and restated bylaws that limit or eliminate the personal liability of our directors and officers to the fullest extent permitted by Delaware law, as it now exists or may in the future be amended, and against all
        expenses and liabilities reasonably incurred in connection with their service for or on behalf of the company.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">At present, we are not aware of any pending or threatened litigation or proceeding involving any of our directors, officer, employees or agents in which indemnification would be required or permitted. We believe provisions in our amended and restated certificate of incorporation are necessary to attract
        and retain qualified persons as directors and officers.&nbsp;&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">In any underwriting agreement we enter into in connection with the sale of common stock and warrants being registered hereby, the underwriters will agree to indemnify, under certain conditions, us, our directors, our officers and persons who control us within the meaning of the Securities Act, against
        certain liabilities.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, the Company has been informed that in the opinion of the Securities and Exchange Commission such
        indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">II - 1</font></a>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr width="100%" color="#000000" size="2">
        </div>

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Item&nbsp;16. Exhibits</font></b></p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="bottom" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Exhibit</font></b></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="bottom" width="87%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="bottom" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Number</font></b></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="bottom" width="87%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Description of Document</font></b></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="87%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3.1</font></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Certificate of Incorporation of Softstone, Inc. (incorporated by reference to our Current Report on Form 8-K filed on August 8, 2001)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">3.2</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Certificate of Amendment of Certificate of Incorporation of Softstone, Inc. (incorporated by reference to our report on Form 8K filled on August 18, 200 3)</p>
                </td>
            </tr>

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

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">3.3</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Certificate of Amendment of Certificate of Incorporation of TS Electronics, Inc. (incorporated by reference to our report on Form DEF 14C filled on March 28, 2006)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">3.4</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Amended and Restated By-laws (incorporated by reference to our report on Form PRE 14C filled on June 27, 2008)</p>
                </td>
            </tr>

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

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.1</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Subscription and Registration Rights Agreement among China Pharma Holdings, Inc. and 17 investors (incorporated by reference to our current report on Form 8-K filed on February 6, 2007)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.2</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Form of Class A Warrant (incorporated by reference to our current report on Form 8-K filed on February 6, 2007)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.3</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Securities Purchase Agreement, dated May 27, 2008, by and among China Pharma Holding, Inc. and the investors (incorporated by reference to our current report on Form 8-K filed on May 28, 2008)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.4</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Registration Rights Agreement, dated May 27, 20008, by and among China Pharma Holding, Inc. and the investors (incorporated by reference to our current report on Form 8-K filed on May 28, 2008)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">4.5</font></p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Form of Warrant, dated May 27, 2008 (incorporated by reference to our current report on Form 8-K filed on May 28, 200 8)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.6</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Forms of Warrant issued to FirsTrust Group Inc., dated June 24, 2008 (incorporated by reference to our current report on Form 8-K filed on June 27, 200 8)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">4.7</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Forms of Warrant issued to Hayden Communications International, Inc., dated June 24, 2008 (incorporated by reference to our current report on Form 8-K filed on June 27, 2008)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">4.8</p>
                </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">Forms of Warrant issued to Hayden Communications International, Inc., dated December 24, 2008 (incorporated by reference to our current report on Form 8-K filed on December 29 , 2008)</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="top" width="87%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">5.1 (1)</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Opinion of King &amp; Wood LLP as to the legality of the securities being registered.</p>
                </td>
            </tr>

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

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">23.1</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Consent of King &amp; Wood LLP (included in Exhibit&nbsp;5.1).</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">23.2</p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left"></p>
                </td>

                <td valign="top" width="87%">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">Consent of Hansen, Barnett &amp; Maxwell, an independent registered accounting firm.</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="10%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="bottom" width="3%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="87%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>
        </table>

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

        <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
            <tr>
                <td valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">*</font></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">To the extent applicable, to be filed by a post-effective amendment or as an exhibit to a document filed under the Securities Exchange Act, as amended, and incorporated by reference herein.</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                    <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="left">(1)</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">Incorporated by reference to Exhibit 5.1 to Form SB-2 (No. 333-141734) filed with Securities and Exchange Commission on March 30, 2007, and Exhibit 5.1 to Form S-1 (No. 333-152272) filed with Securities and Exchange Commission on July 11, 2008.</p>
                </td>
            </tr>
        </table>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">ITEM 17. UNDERTAKINGS.</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify"><font style="FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: 'TIMES NEW ROMAN'">(a)&nbsp;The undersigned registrant hereby undertakes:</font></p>

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            <a name="PAGENUM"><font face="Times New Roman" size="2">II - 2</font></a>
        </div>

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        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 30px" align="justify">&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.
        Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set
        forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(iii)&nbsp;To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;&nbsp;<i>provided, however</i>, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of
        this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
        <i>bona fide</i> offering thereof.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(4)&nbsp;That, for the purpose of determining liability under the Securities Act to any purchaser:</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1.5 Inch" align="justify">(A)&nbsp;Each prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in this Registration Statement; and</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1.5 Inch" align="justify">(B)&nbsp;Each prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule&nbsp;430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x)&nbsp;for the purpose of providing the information required by
        Section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule&nbsp;430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the
        registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the
        registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of this Registration Statement or made in any such document immediately prior to such effective date.</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(5)&nbsp;That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities: The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this Registration
        Statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</p>

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        </div>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">&nbsp;</p>

        <p></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(i)&nbsp;Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(ii)&nbsp;Any free-writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(iii)&nbsp;The portion of any other free-writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 1in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind 1 Inch" align="justify">(iv)&nbsp;Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</p>

        <p></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">(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&rsquo;s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to Section 15(d)
        of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial <i>bona fide</i> offering thereof.&nbsp;</p>

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

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act, as amended, may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as
        expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
        the matter has been settled by controlling precedent submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.&nbsp;</p>

        <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">(d)&nbsp;The undersigned registrant hereby further undertakes that:&nbsp;</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(1)&nbsp;For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part of this Registration Statement in reliance under Rule&nbsp;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(1) or
        (4), or 497(h) under the Securities Act shall be deemed to be part of this Registration Statement as of the time it was declared effective.</p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch"></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">(2)&nbsp;For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
        to be the initial bona fide offering thereof.</p>

        <p></p>

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            &nbsp;
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            <a name="PAGENUM"><font face="Times New Roman" size="2">II - 4</font></a>
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        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">SIGNATURES</font></b></p>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in Hainan, PRC on February 3, 2010.</p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="60%" border="0">
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                <td valign="top" width="85%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">China Pharma Holdings</font></b><b><font style="FONT-SIZE: 10pt">,&nbsp;I</font></b><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">nc</font></b><b><font style="FONT-SIZE: 10pt">.</font></b></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="85%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="12%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By:</font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="72%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Zhilin Li</font></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="12%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name:&nbsp;&nbsp;</font></p>
                </td>

                <td valign="top" width="72%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Zhilin Li</font></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="12%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title:</font></p>
                </td>

                <td valign="top" width="72%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">President and Chief Executive Officer (Principal Executive Officer)</font></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="85%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="14%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">&nbsp;</p>
                </td>
            </tr>
        </table>

        <p></p>

        <p style="FONT-SIZE: 10pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR First Line Ind .5 Inch" align="justify">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</p>

        <p></p>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/ Zhilin Li</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Zhilin Li </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <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'">Title: President, Chief Executive Officer and Director (Principal Executive Officer)</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/ Frank Waung</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Frank Waung </font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 3.5pt">
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title: Chief Financial Officer (Principal Financial and Accounting Officer) </font></p>
                </td>
            </tr>
        </table>

        <p></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Heung Mei Tsui</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Heung Mei Tsui</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title: Director </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/ Gene Michael Bennett</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Gene Michael Bennett</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title: Independent Director </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/ Yingwen Zhang</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Yingwen Zhang</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title: Independent Director </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Dated: February</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">3, 2010 </font></p>
                </td>

                <td valign="top" width="5%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">By: </font></p>
                </td>

                <td style="BORDER-BOTTOM: #000000 1.5pt solid" valign="top" width="45%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">/s/</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Baowen Dong</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Name: Baowen Dong</font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Title: Independent Director </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top" width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-SIZE: 10pt">&nbsp; </font></p>
                </td>

                <td valign="top" width="50%" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">&nbsp;</p>
                </td>
            </tr>
        </table>

        <p></p>

        <div title="PAGENUM" style="MARGIN-TOP: 12pt" align="center">
            <a name="PAGENUM"><font face="Times New Roman" size="2">II - 5</font></a>
        </div>
    </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>2
<FILENAME>cphposamex232020310.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-SIZE: 12pt; FONT-FAMILY: 'TIMES NEW ROMAN'">
        <div style="WIDTH: 600px">
            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"></p>

            <table cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td colspan="5"><strong><font size="5">H</font><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ANSEN</font>,</strong> <b><font style="FONT-SIZE: 18pt; FONT-FAMILY: 'TIMES NEW ROMAN'">B</font></b><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">ARNETT</font></b> <b><font style="FONT-SIZE: 18pt; FONT-FAMILY: 'TIMES NEW ROMAN'">&amp; M</font></b><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">AXWELL</font></b><b><font style="FONT-FAMILY: 'TIMES NEW ROMAN'">, P.C.</font></b></td>

                    <td width="2%">
                    </td>
                </tr>

                <tr>
                    <td width="2%">
                    </td>

                    <td width="261">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'TIMES NEW ROMAN'">A Professional Corporation</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'TIMES NEW ROMAN'">CERTIFIED PUBLIC ACCOUNTANTS</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 Triad Center, Suite 750<br>
                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salt Lake City, UT 84180-1128<br>
                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phone: (801) 532-2200<br>
                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fax: (801) 532-7944</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><font style="FONT-SIZE: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;www.hbmcpas.com</font></p>

                        <p align="center">&nbsp;&nbsp;</p>
                    </td>

                    <td width="27">
                    </td>

                    <td width="58">
                    </td>

                    <td valign="top" width="230">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'TIMES NEW ROMAN'">Registered with the Public Company</font></b></p>

                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><b><font style="FONT-SIZE: 8pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounting Oversight Board</font></b></p>

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

                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center"><img height="45" src="hbm.jpg" width="123"></p>
                    </td>

                    <td width="2%">
                    </td>
                </tr>
            </table>
            <a name="QuickMark"></a>

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

            <p></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">To the Board of Directors and the Shareholders</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">China Pharma Holdings, Inc.</font></p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify"><font size="2">As an independent registered public accounting firm, we hereby consent to the incorporation by reference in this Registration Statement on Form S-3 of our report dated March 11, 2009 with respect to the December 31, 2008 and 2007 consolidated balance sheets of China Pharma Holdings, Inc. and subsidiaries and the related
            consolidated statements of operations, stockholders&rsquo; equity and cash flows for the years then ended. We also consent to the use of our name and the reference to us in the Experts section of the Registration Statement.</font></p>

            <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; EEPStyleName: Para Just 10pt TNR" align="justify">&nbsp;</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="100%" border="0">
                <tr>
                    <td width="50%">
                    </td>

                    <td width="50%">
                        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="justify">/<font face="Times New Roman, Times, serif" size="2">s/ Hansen, Barnett &amp; Maxwell, P.C.</font></p>
                    </td>
                </tr>

                <tr>
                    <td width="50%">
                    </td>

                    <td width="50%"><strong><font face="Times New Roman, Times, serif" size="2">HANSEN, BARNETT &amp; MAXWELL, P.C.</font></strong></td>
                </tr>
            </table>
            <br>
            <br>

            <p></p>

            <p></p>

            <blockquote dir="ltr" style="MARGIN-RIGHT: 0px">
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            <p dir="ltr" style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left"><font style="FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">Salt Lake City, Utah</font></p>

            <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 14pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'ARIAL'" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'TIMES NEW ROMAN'" size="2">February 2, 2010</font></p>

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