China BioPharma Corp (fka CHBO)

[kuwlness]

This will clarify everything:

On April 7, 2006, the Company signed a Definitive Agreement to acquire China BioPharma Limited (CBP), a Cayman island Company, which has majority ownership rights to Tianyuan Bio-pharmaceuticals Co. Ltd., based out of Zhejiang Province, China, pending on the Chinese government's final approval. According to the agreement, Techedge Inc. will acquire 100% of the outstanding capital stock of CBP in exchange for 3,000,000 unregistered shares of Techedge's common stock to be issued. In exchange for 100% of the outstanding capital of CBP, the Company issued a total of 3,000,000 shares of restricted common stock.

On May 29, 2006, the Company announced that China BioPharma Limited, a wholly owned subsidiary of the Company, has received approval from Zhejiang Provincial government of the Peoples Republic of China for its investment into Zhejiang Tianyuan Bio-Tech Co., Ltd. China BioPharma Limited will invest US$3,900,000 into Zhejiang Tianyuan Bio-Tech Co., Ltd. for 65% of the ownership. The investment is to be made within 180 days from May 24, 2006, when the operating license of Zhejiang Tianyuan Bio-Tech Co., Ltd. was issued by the government. Peter Wang, the Chairman of the Board of Directors of Techedge Inc., will be the Chairman of the Board of Directors of Zhejiang Tianyuan Bio-Tech Co., Ltd.

On June 20, 2006, the Company announced that China BioPharma's subsidiary Zhejiang Tianyuan Biotech Co., has signed a letter of intent to acquire Hainan CITIC Biopharmaceutical Development Co. ("Hainan CITIC"). Under the agreement Zhejiang Tianyuan Biotech Co. would acquire over 90% interest in Hainan CITIC Biopharmaceutical Development Co., with the remaining interest being owned by China CDC (China's Center for Disease Control).

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