UMeWorld hit's the Internet Bull Report radar.

Hey guys. Here is new article on UMeWorld published today, that will be followed up by a full report in the coming weeks.

UMeWorld - Putting the Fun Back into Learning

Alrx has moved to umeworld "umewf" come on over to the board. If you are still shareholders, I think you will see the value finally coming to fruition. Different industry but same talent!

Looks like it is alive agina. FINALLY!

AlphaRX, Inc. changed to UMeWorld, Ltd.:

http://www.otcbb.com/asp/dailylist_detail.asp?d=04/12/2013&mkt_ctg=NON-OTCBB

Financials Released:
Financials Released

AlphaRx British Virgin Islands Company Now

Yeah I saw that, don't know if this changes anything?????

Form 8-K for ALPHARX INC 19-Feb-2013 Other Events Item 8.01 Other Events. AlphaRx Inc. (the "Company") has completed the continuation as a British Virgin Islands company, the shares of the Company will begin trading on the OTCQB Marketplace under a new symbol "ALRXF" on February 19, 2013. Furthermore, the Company will be deregistered with the State of Delaware as of February 25, 2013.

ALRX changed to ALRXF:

http://www.otcbb.com/asp/dailylist_detail.asp?d=02/15/2013&mkt_ctg=NON-OTCBB

Form 10-K

Form 10-K

Looks like they have been busy spending lots of money to setup media business. I wish them luck. At leas the CEO did not take any pay, shows he is committed.

It looks like that was a mistake by someone. Punched in one decimal place off. It has since rebounded and more.

WOW! only 62k trade and the company lose 90% of the share value.

I don't know what to make of it. I don't like all the new shares. After today I don't know what to make of AlphRx overall. Having said that the company really does not have any expenses at the moment. Closing one big customer and people will notice.

What is your opinion on the acquire UMeLook Holdings Limited?

Form 8-K for ALPHARX INC
Form 8-K for ALPHARX INC
31-Aug-2012

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry into a Material Definitive Agreement.

On August 29, 2012, we entered into an agreement (the "Agreement") to acquire UMeLook Holdings Limited ("UMeLook Holdings"), a corporation formed pursuant to the laws of the British Virgin Islands on February 12, 2012, from its shareholders. Under the terms of the transaction (the "Transaction") we will acquire 7,000 shares of the common stock of UMeLook Holdings, representing 100% of its securities outstanding in exchange for Seventy Million (70,000,000) newly issued shares of our common stock and 2,000,000 options to purchase common shares. The options are exercisable until September 30, 2017, at the price of $.50 per share. Prior to the acquisition, we had 19,036,000 common shares outstanding. After the acquisition of UMeLook Holdings, we will have 89,036,000 common shares outstanding. There will not be a change of control of our officers and Board of Directors as a result of the Transaction. As such, Michael Lee will remain our President, Chief Executive Officer and Director. There will be a change of our shareholder voting control as a result of the transaction. After the transaction, Vago International Limited, a company controlled by Yee W. Chu will hold 62.90% of our outstanding common shares.

On August 30, 2012, we completed the transaction and acquired all of the issued and outstanding shares of UMeLook Holdings. We are engaged in the development of proven therapies by reformulating FDA approved and marketed drugs using proprietary drug delivery technology. As of our last fiscal year, our revenues were approximately $183,500, representing the sale of our product in Mexico and income from consulting services. For the nine-month period ended June 30, 2012, our revenues were $102,306, and during July and August, 2012, we generated additional revenues of approximately $26,138. Presently, we offer our Indaflex prescription drug product for the treatment of inflammation in one country, Mexico.

We plan to offer digital media products in China through UMeLook Holdings which was formed on February 12, 2012. UMeLook Holdings' operations will be conducted through its wholly owned subsidiary UMeLook Limited, a company formed under the laws of Hong Kong on February 23, 2012, which is 100% owned by UMeLook Holdings. As a result of the transaction, UMeLook Holdings will become our wholly owned subsidiary. UMeLook Limited will remain a subsidiary of UMeLook Holdings after the transaction. As a result of the transaction, our management will become the management of UMeLook Holdings and UMeLook Limited. To date, UMeLook Holdings and UMeLook Limited have not generated revenues. There is no assurance that the acquisition of UMeLook Holdings and UMeLook Limited will increase our revenues or cause us to be profitable.

AlphaRX - ALRX - Release QT Financials

finance.yahoo.com/q/is?s=alrx

It is not a high volume trading stock and I don't think too many people follow it. People will come if they complete any new media deals in China. Also no real earnings in the new venture or it seems from old deals in Mexico.

Spread
Whats up with the large spread?

AlphaRx Signs Binding Letter of Intent to Acquire UMeLook

HONG KONG, June 21, 2012 (GLOBE NEWSWIRE) -- AlphaRx Inc. (OTCBB:ALRXDOB) is pleased to announce that it has signed a binding letter of intent to acquire all of the issued and outstanding shares of UMeLook Holdings Limited ("UmeLook"). The transaction is expected to close on or before August 15, 2012. UMeLook is a digital media startup with an intense focus on China. UMeLook's first product is a global online video distribution platform tapping into the power of full motion video, helping advertisers large and small to tap into a massive market while having no competitors. If a picture is worth a thousand words, a video message can be worth millions in revenues. UMeLook is releasing a beta site www.umelook.com for public testing in China and the USA simultaneously. YouTube and many other popular video sites are blocked by China's "Great Firewall". UMeLook is uniquely positioned to offer advertisers the ability to use their existing promotional video assets to access mainland China consumers. Marketers spent $7.4 billion on online marketing in China in 2011, representing 13.5% of total media spending. That was up from $5.1 billion, or 10.6% of the total, spent in 2010. More than 60% of China's approximately half billion internet users watch online videos, equivalent to about 325 million users in the second half of 2011. As the number of China's internet users grows, so will the online video market. Chinese are spending much of their time online -- an average three hours a day, compared with two hours watching television, according to a study conducted last year by Starcom Mediavest Group. The statistic is the same for consumers even in the less developed, lower-tier markets that brands are keen to crack. The acquisition of UMeLook is to be completed as a share exchange through the issuance of 70,000,000 common shares of AlphaRx Inc. to the shareholders of UMeLook at a deemed price of $0.30 per share in exchange for all of the issued and outstanding shares in the capital of UMeLook. The common shares to be issued pursuant to the acquisition will not be registered for sale under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and will be subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under SEC guidelines.

Note: AlphaRX Inc. now trades under ALRXD and the 1 for 5 share split went through at a price of .075 and now opens at .375.
The new outstanding share amount is 19,035,009
Company Info

Form 10-Q Released

Form 10-Q Released
Only New Info I see:(I don't understand if this has happened and why we were not informed) Maybe not the same common trading shares we hold on the OTC:BB

On April 2, 2012,a five (5) share for one (1) share reverse stock split of the Company’s common stock was approved by our Board of Directors and by the written consent of our stockholders entitled to vote and holding at least a majority of our outstanding common stock, par value $0.0001 per share. Stockholders holding in the aggregate 54,670,271 shares of Common Stock or approximately 57.44% of the voting stock outstanding as of April 20, 2012 approved the reverse split.

Revenues:
Total revenues for the six-month period ended March 31, 2012 were $236,931 as compared to $74,220 generated for the same period a year ago, an increase of $162,711 or about 219%. We continue to pursue revenue opportunities in all forms (consulting, royalties and license fees).

My Guess above Revenues are from a bit of sales from Mexico and the last of the discontinued research income.

FORM 10-Q Released
FORM 10-Q Released

Only New Item I see and Revenue up a little from sales.

"On November 4, 2011 we adopted a corporate development strategy which terminated our drug development business and to pursue acquisition opportunities in digital media with an intense focus on China. There can be no assurance that the Company will find a suitable acquisition opportunity or consummate an acquisition in digital media."

AlphaRx Inc. - ALRX - Income Statements
AlphaRx Inc. - ALRX - Income Statements

Form 10-K for ALPHARX INC - ALRX
Form 10-K for ALPHARX INC - ALRX

AlphaRX Inc. - ALRX Business Development

The Company’s nano drug delivery development business model was formed in 2000; substantial efforts and resources were devoted to understanding our nano drug delivery technology and establishing a product development pipeline that incorporated this technology with selected molecules. On July, 2011 the Board and management adopted a new business plan that it believed would improve the Company’s performance. The new business plan narrowed the Company’s focus to developing and commercializing 2 existing product candidates Indaflex and ARX8203 for the pain market.

To date, we have engaged in organizational activities, preparing ARX8203 for human trials; and expanding Indaflex sales. We have generated funding through the issuances of debt and private placement of common stock. We have not generated any substantial revenues and we do not expect to generate any substantial revenues in the near future. We may not be successful in developing our product candidates and start selling our products when planned, or that we will become profitable in the future. We have incurred net losses in each fiscal period since inception of our operations.

Principal products

Indaflex

Indaflex™ is a topical NSAID (Non-Steroidal Anti-inflammatory Drug) formulation currently in clinical development for the reduction of signs and symptoms associated with osteoarthritis of the knee. Arthritis is the most common chronic disease in North America and afflicts an estimated 10% of the world’s population. The active ingredient in Indaflex™, indomethacin, has a long-standing and proven clinical treatment record. Delivered through the skin using proprietary technology developed by AlphaRx, the companies believe Indaflex™ will have an attractive safety, tolerability and efficacy profile in comparison to oral treatments and other topical preparations. The side effects of the GI tract found with orally ingested NSAIDs will be dramatically reduced. This drug delivery vehicle significantly increases drug loading through a unique combination of polarity and hydrophobicity of the carrier components. Indaflex long-term market objective is to gain leadership in the anti-inflammatory topical cream/ointment arthritic and chronic joint/muscle pain relief market.

Indaflex is approved for sale in Mexico, but must undergo FDA approval for sale in United States and other countries. Indaflex is our only prescription drug at the clinical trial stage. We completed a Phase I human trial for Indaflex in Canada during March 2005.

Together with our former licensee Proprius Pharmaceuticals Inc. ("Proprius"), we completed Phase II clinical trials for Indaflex in March 2007. The randomized double-blind placebo and vehicle controlled trial, which included a six-week treatment period, was conducted on 233 patients with osteoarthritis of the knee. While the trial did not meet its primary endpoints, subgroup analyses of patients with moderate to severe pain and more impaired physical function at baseline showed positive trends in patients treated with Indaflex as compared to patients treated with either placebo or vehicle. Indaflex was demonstrated to be safe and well tolerated. Because we did not meet the primary endpoints, under the terms of the Licensing Agreement with Proprius we did not receive any milestone payments for this trial. On March 2008, Proprius was acquired by Cypress Bioscience Inc. (“Cypress”) and Cypress assumed Indaflex clinical development. Our agreement with Cypress expired on June 28, 2010.

ARX-8203

ARX-8203 is a prodrug of a well-known non-steroidal anti-inflammatory drug, designed to reduce the occurrence of side- effects associated with the parent drug. ARX-8203 is pH neutral and has significantly less GI toxicity than diclofenac in a 28 days GI animal study. ARX-8203 demonstrates excellent G.I. safety profile in acute GLP toxicity studies and can be administrated orally or via intravenous infusion or IV bolus injection.

Over the last 12 months we have made significant progress in moving ARX8203 toward clinical application. Sufficient amount of ARX8203 is being synthesized for the planned clinical trial. The Company is planning to conduct a POC (Proof of Concept) human trial as soon as practicable, anticipating that the POC human trials will enroll 90 patients in 3 arms (ARX8203 vs. comparator), whereby the primary endpoint will be safety (cumulative incidence of gastric ulcers) as assessed by endoscopy. With an estimated 15 million Americans taking prescription NSAIDs for arthritis, and an estimated 68 million prescriptions a year being written for these products, according to the FDA, the market for NSAIDs is strong. Prolonged use of NSAID’s has been associated with a high incidence of gastro-intestinal ulcers. There will be a robust market for new drugs without the serious G.I. side-effects which prolonged use of current NSAID’s risk.

We intend to perform the regulatory filings with FDA and AlphaRx owns all the regulatory licenses for Indaflex and ARX-8203. However, we may manufacture these two products under subcontract arrangements with external manufacturers that carry the appropriate regulatory licenses and have appropriate capabilities. The Company intends to distribute these drugs via subcontracts with distributor companies or in partnership arrangements. The Company plans to market these drugs either on its own or in conjunction with marketing partners. The Company also plans to actively pursue co-development, as well as other licensing agreements with other Pharmaceutical companies. Such agreements may entail up-front payments, milestone payments, royalties, and/or cost sharing, profit sharing and many other instruments that may bring early revenues to the Company. Such licensing and/or co-development agreements may shape the manufacturing and development options that the company may pursue.

ALRX - AlphaRx Inc Corporate Update

I know Michael Lee has mentioned in the past he has relatives and connections with money in China and moved there recently. He might be back in the USA. I still wonder what happens with the research and product pipeline. I still have a couple of the Flexogan tubs I use sometimes when needed after playing too much sports. Remember those WWF wrestling commercials too funny but, the stuff works really well. People at my work love the stuff.

HONG KONG , Nov. 30, 2011 /PRNewswire/ - AlphaRx Inc. (OTC BB:ALRX.OB) is pleased to announce the following Corporate update:

On November 4, 2011 the CEO, Board and management adopted a corporate development strategy that will shift the primary focus of the Company to digital media with an intense focus on China . The Company will combine its current presence in China with U.S. offices run by top media executives with deep relationships with large global brands.

"The next 3 years will prove to be very exciting for our company and shareholders." Said CEO Michael Lee . "We are very confident that this shift is the right direction to follow. AlphaRx will become a leader in the complex category of digital marketing to Chinese consumers."

Low volume but, feels like somethin could happen soon.

AlphaRx Provides Corporate Update

HONG KONG, September 12 /PRNewswire - AlphaRx Inc. (OTC BB:ALRX.OB) is pleased to announce the following Corporate update:

Product Development Update

On July 5, 2011 the Board and management adopted a new business plan that the Company believes will improve the Company’s performance. The new business plan narrows the Company’s focus to developing and commercializing 2 existing product candidates “Indaflex” and “ARX8203” internally, for the pain market.

Indaflex, our flagship product in Mexico, is currently bringing in a royalties of $10,000 per month and is ramping up to $15,000 per month. In addition to Mexico, we are preparing to registering Indaflex in Portugal in conjunction with Andromaco Pharma, Mexico. We have received a proposal from Formifarma, an experienced regulatory firm based in Lisbon, Portugal and we are currently reviewing these options. Other EU countries will follow and the potential annual royalty can be projected at over $12 million from EU countries.

With an estimate of around $100-200 million for Gout therapy alone, ARX8203 becomes the near term driver for AlphaRx and also our most exciting product opportunity. We are proposing to conduct an efficacy and safety trial on approximately 90 Gout patients.

Another potential blockbuster is GAI-122 for the China Market, as China reports more patients with stroke than anywhere else in the world. The total market potential for GAI-122 in China is approximately $1.68 billion. GAI-122 is being developed by our partner Gaia BioPharma under a licensing agreement.

Corporate Development Update

We have completed a small private placement of $100,000 of which $60,000 was placed to our CEO and directors; the funds will be used for general working capital. We have converted all short term demand loans to term loans with maturity on December 21, 2013. We have recently engaged various professional firms to provide certain services and advice that we strongly believe will increase shareholder value. We are exploring various growth strategies including diversifying into other fast growing health care related businesses and we are evaluating acquisition opportunities that we believe could provide substantial earnings to the Company in a short period of time.

Alpharx and Grand Eastern Financial Group Material Definitive Agreement

It is good to see that they only have to pay Grand Eastern Financial Group a finders fee if the deal actually goes through and for only 5%. I see many other companies just dilute and pay these advisors in shares that end up getting dumped right after and drop the share price.

Alpharx and Grand Eastern Financial Group Material Definitive Agreement

3. Compensation

The Company hereby agrees to pay the Advisor, as compensation for its services hereunder, a transaction fee (the “Transaction Fee”). The Transaction Fee is the sole compensation that the Advisor shall receive. Advisor is not required to travel or incur expenses in the completion of this engagement and as such the Transaction Fee shall be the sole compensation to Advisor under this agreement. In the event the Company consummates at any time one or more Transactions pursuant to a definitive agreement or letter of intent or other evidence of commitment entered into during the Term, the Company agrees to pay Advisor a fee equal to 5% of Transaction Value.

Form 8-K for ALPHARX INC

6-Sep-2011

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

On September 2, 2011, AlphaRx Inc., a Delaware corporation (the "Company"), entered into an Advisory Agreement (the "Agreement") with Grand Eastern Financial Group ("Grand Eastern"). Under the Agreement, the Company engaged Grand Eastern to provide general business advice and assistance and to use its best efforts with respect to evaluating certain possible strategic opportunities, which may include mergers and acquisitions, joint ventures, recapitalizations of the Company or its business assets.

AlphaRX Aug 2011 Insider Purchase Transactions:

LEE MAN CHING 400,000 shares at .05

MOORE KEITH FORD 400,000 shares at .05

MILROY JOHN DAVID 400,000 shares at .05

Also the latest info is on their Investors Fact Sheet

Last I heard they were in China outsourcing research and awaiting results.

Head Office:
AlphaRx Inc.
19/F, Two International
Finance Centre
8 Finance Street
Central, Hong Kong
Tel: (852) 2251-1927
Fax: (852) 3020-0362
info@AlphaRx.com

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8075461

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8075440

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8075422


ALRX insider buys.

Hello This company retains its position as it was.. No big change in the market today. if anybody have the statitics about this company .. please share with us.

Form 10-Q Released
Form 10-Q Released

Good volume this week and the ask is holding nicely. Need some buying interest. Would also like to see an update on Indaflex and GAI-122:

From last Form 10-Q "clinical trial application with the China State Food and Drug Association (“SFDA”) in order to begin human trials in China. These preparations are proceeding on schedule."

May have to wait until mid August for the next Form 10-Q

There is a recent Corporate Fact sheet: Corporate Fact sheet

AlphaRx Terminates Its Chief Scientist and Chief Medical Officer for Cause

Press Release Source: AlphaRx Inc. On Wednesday June 1, 2011, 4:00 pm EDT HONG KONG, June 1, 2011 /PRNewswire/ - AlphaRx Inc. (OTC BB:ALRX.OB.ob - News) announced today that the Board of Directors of the Company has terminated Dr. Joseph Schwarz and Dr. Michael Weisspapir, the Chief Scientist and the Chief Medical Officer of the Company respectively, for violations of the Company's policies and procedures. The Company has reserved any and all legal recourse against Drs. Schwarz and Weisspapir. The Company also announced that it will promptly begin a search for a new Chief Scientist.

ALRL AlphaRX Form 10-Q Releases

ALRX 10-Q Link:

Expanded - Receives Notice of Allowance for US Patent
AGIPNEWS8876

24/3/2011 13:10 GMT
ag-IP-news
AlphaRx Receives Notice of Allowance for US Patent

HONG KONG - AlphaRx Inc. announced in a press release that it has received a Notice of Allowance from the United States Patent and Trademark Office for its lead pain product candidate code named ARX8203, a potentially safer drug intended for pain treatment.

AlphaRx has developed three formulations using ARX8203, an injectable formulation for post-surgical pain, an oral capsule for chronic pain and an ophthalmic formulation for ocular inflammation.

AlphaRx has eight further US patent applications pending in different stages of examination and is confident that this is the first of many patents yet to receive allowance.

ARX8203 is a novel prodrug of a very potent FDA approved NSAID (non-steroidal, anti-inflammatory drug). ARX8203 has demonstrated excellent safety profile in G.I. toxicity studies compared with Diclofenac and Indomethacin, two very popular and currently marketed NSAIDs.

AlphaRx is a specialty pharmaceutical company utilizing proprietary drug delivery systems to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method. The Company’s product candidates address various pharmaceutical markets, including pain and stroke.

Wow you beat me LOL. Awesome news.

Finally a pr
.AlphaRx Provides Corporate and Development Update
.
Companies:ALPHARX INC.Related Quotes
Symbol Price Change
ALRX.OB 0.06 0.00


{"s" : "alrx.ob","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: AlphaRx Inc. On Wednesday March 16, 2011, 7:30 am EDT
HONG KONG, March 16 /PRNewswire/ - AlphaRx Inc. (OTCBB:ALRX.ob - News), today provided an update on its internal product candidates and development plans.

Highlights of the Company's product review and upcoming corporate milestones include:


•Over the last 12 months we have made significant progress in moving ARX8203 toward clinical application. ARX8203, a novel prodrug of a FDA approved NSAID (non-steroidal, anti-inflammatory drug), has demonstrated excellent safety profile in G.I. toxicity studies. Sufficient amount of ARX8203 is being synthesized for the planned clinical trial. The Company is planning to conduct a POC (Proof of Concept) human trial as soon as practicable, anticipating that the POC human trials will enrol 90 patients in 3 arms (ARX8203 vs. comparator), whereby the primary endpoint will be safety (cumulative incidence of gastric ulcers) as assessed by endoscopy. With an estimated 15 million Americans taking prescription NSAIDs for arthritis, and an estimated 68 million prescriptions a year being written for these products, according to the FDA, the market for NSAIDs is strong. Prolonged use of NSAID's has been associated with a high incidence of gastro-intestinal ulcers. There will be a robust market for new drugs without the serious G.I. side-effects which prolonged use of current NSAID's risk.


•AlphaRx has been working diligently with Gaia BioPharma in the GAI-122 stroke program for China. In preparation of a Chinese IND application, the China State FDA requires an additional animal efficacy study that meets the local regulatory requirements. The Company is engaging Beijing Capital Medical University to conduct this study. The Company has been working with a Chinese contract manufacturer in GAI-122 clinical trial material (CTM) production. Pending receiving positive results from the additional animal study, a sufficient amount of CTM could be produced to meet clinical trial needs.

About AlphaRx Inc.

AlphaRx is a specialty pharmaceutical company utilizing proprietary drug delivery systems to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method. The Company's product candidates address various pharmaceutical markets, including inflammation, CNS and pneumonia.

Forward Looking Statements:
This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the companies.

Qualifying Merger Transaction Terminated

However, Pacific Orient Capital is still looking for other ways to fund the merger. AAQ.P will resume trading Feb 22. They have some big money backers in China we shall see how this develops and how Alpharx responses

I think Just you and me are here? I wonder is any one else home? LOl

Thank you Bro.

Welcome to the Board Powerbattles as the new assistant moderator I welcome your input.(Although you should be the main moderator)

Note: The total shares outstanding for ALPHARX as of February 14, 2011 was 94,635,047 with 100,000,000 shares authorized.

Possible can you add me as Moderator Assistants?

Me too waiting for more detail on the merge. Thank you very much for the heads up eom

Alpharx - ALRX Form 10-Q Released.

Don't know about the time-line. Pacific Oriental Capital had a meeting in December about voting for certain company objectives including the merger. The Form 10-Q just says waiting on approval from regulators. I am more interested about the details and how it effects regular investors than when.

Do you know of any time frame on this merge purchase?

Haven't follow it for so long.I thought this merge is already done deal?

It was a one day blip quoted under ALRXE. I got excited I thought the merger went through with Pacific Orient Capital.

Merger Info

What New Symbol?

New Symbol I don't know what that means. We are still awaiting the Pacific Orient Capital merger/purchase.

ALRXE|ALRX|AlphaRx, Inc. Common Stock|AlphaRx, Inc. Common Stock|01/04/2011|Delinquent **|||U|Y|100|Y

Form 10-K Released
Form 10K

Item 4.01 Change in Registrant’s Certifying Accountant

On December 16, 2010, Schwartz Levitsky Feldman LLP (“SLF”) resigned as the independent accountant of AlphaRx, Inc. (the “Company”). The Board of Directors acting in the capacity of an audit committee approved the resignation of SLF.

SLF’s reports on the Company’s financial statements for the years ended September 30, 2009 and 2008 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles except that the reports for both years indicated that the Company is in the development stage, has suffered significant operating losses, and is dependent upon its stockholders to provide sufficient working capital to meet its obligations and sustain its operations. Accordingly, such reports indicated that there was substantial doubt as to the Company’s ability to continue as a going concern and that the financial statements did not include any adjustments that might result from the outcome of this uncertainty.

During the years ended September 30, 2009 and 2008 and through December 16, 2010, there were no disagreements with SLF on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of SLF, would have caused it to make reference thereto in connection with its reports on the financial statements for such years. During the years ended September 30, 2009 and 2008 and through December 16, 2010, there were no matters that were either the subject of a disagreement as defined in Item 304(a)(1)(iv) of Regulation S-K or a reportable event as described in Item 304(a)(1)(v) of Regulation S-K.

The Company provided SLF with a copy of the foregoing disclosures and requested SLF to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not SLF agrees with the disclosures. A copy of SLF’s letter is filed as Exhibit 16.1 to this Current Report on Form 8-K.

On December 17, 2010, the Company’s Board of Directors acting in the capacity of an audit committee engaged Albert Wong & Co. (“AWC”) as the Company’s new independent accountant to act as the principal accountant to audit the Company’s financial statements. During the Company’s fiscal years ended September 30, 2009 and 2008 and through November 15, 2010, neither the Company, nor anyone acting on its behalf, consulted with AWC regarding the application of accounting principles to a specific completed or proposed transaction or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report or oral advice was provided that AWC concluded was an important factor considered by the Company in reaching a decision as to any such accounting, auditing or financial reporting issue.