China BioPharma Corp (fka CHBO)

[DonLeopoldo]

VISION OPPORTUNITY MASTER FUND, LTD.
20 W. 55 th Street, 5 th Fl.
New York, NY 10019
Fax: [phone]
$ 700,000.00

The largest CD holder among the 13 CD holders that shared the $3M CD from Dec. 2006.

http://www.secinfo.com/dV35v.u14c.htm

http://www.secinfo.com/ds4Px.uaz.htm

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,546,888

If we look at the chart, we can see that those shares could not have come from CD conversions, because there were not 5 trading days with average close of 0.20 prior to March 1st 2007.

http://stockcharts.com/h-sc/ui?s=CBPC&p=D&st=2007-02-01&en=2007-04-01&id=p36650222859

This CD holder was holding the maximum amount of shares 4.99% of the O/S, and some or all of those shares were bought, and not all or none came from conversions.

I find it quite interesting, that the biggest CD holder already owned 4.99% of the O/S at that date, and at that price, x10 fold from doday's PPS.

I've always stated that most probably, insiders will keep their control over the company, through these small 4.99% ownerships that donot have to be declared to the SEC.

Conversions beeing done at end of month, but also seems some CD holders (as in this case), also had shares not coming from conversions, but they bought shares as well.



Well, there we get a bone to chew and on which to think about all this CD+Warrants strategy.



Good night.