Replies to post #442 on China BioPharma Corp (fka CHBO)

[pocketunchanged]

You really have to read it thoroughly

You say:

<<<The CD holder can convert all he can, and pass shares to a 3rd party. If over 5%, then they'll have to file with SEC and we would know.
If not above 5%, we won't know>>>

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The 8-K states:

<<<3.2. Conversion Limitation . The Holder shall not be entitled to convert on a Conversion Date that amount of the Note in connection with that number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of common stock beneficially owned by the Holder and its Affiliates on a Conversion Date, and (ii) the number of shares of Common Stock issuable upon the conversion of the Note with respect to which the determination of this provision is being made on a Conversion Date, which would result in beneficial ownership by the Holder and its Affiliates of more than 4.99% of the outstanding shares of common stock of the Company on such Conversion Date. Beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Holder shall be limited to aggregate conversions of only 4.99%. The Subscriber may decide whether to convert a Note or exercise Warrants to achieve an actual 4.99% ownership position. >>>>

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Monthly payment= 4.76% of the initial principal($3,000,000)
That is 142,000+/- , plus 15% interest for a total of 163,000+/-

If we take 5 lowest closing days in a row , that is 0.02,0.02,0.019,0.019,0.019 , average 0.0194 , 75% of that is 0.0145.

If you divide $163,000 by 0.0145 , that will give you over 11 million shares.

As of the last 10Q:

<<<APPLICABLE ONLY TO CORPORATE ISSUERS


State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 111,656,921 shares of common stock, stated value $.0001 per share, outstanding as of August 14, 2007.


Transitional Small Business Disclosure Format (Check one): YES o NO x
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Look at the date, August 14, I already told you that the monthly installments run from 13th to 13th.
So the payment for September, according to you would be 11M,
that would be 10% of the OS, and now you know that just can't be.
They wish they could, but Peter Wang is not so stupid as to give up 60% of the company on a $3,000,000 loan.
If a bought in , is for Peter Wang , he was one of the founding members of UTSI, when he sold his share ,UTSI was worth several billions, so you know he is nobody's fool.
I am sure that in a couple of years CBPC will be worth a lot more than now.


Pocket