Delaware
|
77-0632186
|
|
(State
or other jurisdiction of
incorporation
or organization)
|
(IRS
Employer
Identification
No.)
|
PART
Ι FINANCIAL
INFORMATION
|
1
|
||
ITEM
1
|
FINANCIAL
STATEMENTS
|
1
|
|
ITEM
2
|
MANAGEMENT’S
DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
|
15
|
|
ITEM
3
|
CONTROLS
AND PROCEDURES
|
21
|
|
PART
ΙΙ OTHER
INFORMATION
|
21
|
||
ITEM
1
|
LEGAL
PROCEEDINGS
|
21
|
|
ITEM
2
|
UNREGISTERED
SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
21
|
|
ITEM
3
|
DEFAULTS
UPON SENIOR SECURITIES
|
21
|
|
ITEM
4
|
SUBMISSION
OF MATTERS TO A VOTE OF SECURITY HOLDERS
|
21
|
|
ITEM
5
|
OTHER
INFORMATION
|
21
|
|
ITEM
6
|
EXHIBITS
|
21
|
|
SIGNATURES
|
23
|
|
September 30, 2007
|
December 31, 2006
|
|||||
Item
|
(Unaudited)
|
(Audited)
|
|||||
ASSETS
|
|||||||
Current
assets
|
|||||||
Cash
and cash equivalents
|
$
|
49,752
|
$
|
498,103
|
|||
Accounts
receivable, net of bad debt allowance of $269,546 and $258,667,
respectively
|
441,583
|
929,446
|
|||||
Inventories
|
696,267
|
541,340
|
|||||
Prepaid
expenses
|
102,822
|
302,007
|
|||||
Other
current assets
|
65,844
|
57,011
|
|||||
Total
current assets
|
1,356,268
|
2,327,907
|
|||||
Property,
Plant and Equipment:
|
|||||||
Buildings
|
1,094,238
|
1,046,116
|
|||||
Machinery
and equipment
|
642,147
|
585,282
|
|||||
Automobiles
|
74,063
|
47,772
|
|||||
Office
equipment
|
90,671
|
78,096
|
|||||
Computer
software
|
9,606
|
9,240
|
|||||
Property
plant and equipment - total
|
1,910,725
|
1,766,506
|
|||||
Less:
accumulated depreciation
|
(390,212
|
)
|
(286,039
|
)
|
|||
Property
plant and equipment - net
|
1,520,513
|
1,480,467
|
|||||
Construction
in progress
|
101,333
|
34,548
|
|||||
Intangible
asset - net
|
303,682
|
337,027
|
|||||
Deferred
financing costs
|
150,293
|
211,793
|
|||||
Deposit
to purchase the proprietary technology
|
126,443
|
126,443
|
|||||
Total
assets
|
$
|
3,558,532
|
$
|
4,518,185
|
|||
LIABILITIES
AND SHAREHOLDERS’ EQUITY (DEFICIENCY)
|
|||||||
Current
liabilities
|
|||||||
Accounts
payable and accrued expenses
|
$
|
1,632,627
|
$
|
983,980
|
|||
Construction
costs payable
|
308,202
|
366,879
|
|||||
Due
to related parties-non-trade
|
454,438
|
496,806
|
|||||
Due
to related parties-trade
|
70,000
|
-
|
|||||
Current
portion of bank notes payables
|
2,810
|
5,405
|
|||||
Total
current liabilities
|
2,468,077
|
1,853,070
|
|||||
Long-term
liabilities, less current portion:
|
|||||||
Unsecured
loans payable
|
1,531,129
|
1,472,717
|
|||||
Bank
notes payable
|
18,243
|
1,351
|
|||||
Long-term
convertible notes payable
|
2,120,562
|
2,365,962
|
|||||
Less:
discount relating to warrants
|
(958,312
|
)
|
(1,371,446
|
)
|
|||
Long-term
convertible notes payable - net
|
1,162,250
|
994,516
|
|||||
Total
long-term liabilities
|
2,711,622
|
2,468,584
|
|||||
Minority
interest in a subsidiary
|
110,278
|
103,362
|
|||||
Shareholders’
equity (deficiency)
|
|||||||
Common
stock - $0.001 par value Authorized 200,000,000 shares at September
30,
2007 and December 31, 2006 respectively. Issued and outstanding 76,847,710
and 70,149,556 shares at September 30, 2007 and December 31, 2006,
respectively
|
76,848
|
70,150
|
|||||
Preferred
stock - $0.001 par value Authorized 20,000,000 shares, nil shares
issued
and outstanding at September 30, 2007 and December 31, 2006,
respectively
|
-
|
-
|
|||||
Additional
paid-in capital
|
8,844,813
|
8,311,975
|
|||||
Stock-based
compensation reserve
|
(348,198
|
)
|
(523,468
|
)
|
|||
Deficit
accumulated
|
(10,311,326
|
)
|
(7,766,654
|
)
|
|||
Accumulated
other comprehensive income
|
6,418
|
1,166
|
|||||
Total
shareholders’ equity (deficiency)
|
(1,731,445
|
)
|
93,169
|
||||
Total
liabilities and stockholders’ equity
|
$
|
3,558,532
|
$
|
4,518,185
|
|
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
|||||||||||
Item
|
2007
|
2006
|
2007
|
2006
|
|||||||||
Net
sales
|
$
|
2,957,972
|
$
|
906,068
|
$
|
6,214,712
|
$
|
930,442
|
|||||
Cost
of sales
|
2,718,712
|
852,885
|
5,763,387
|
872,840
|
|||||||||
Gross
profit
|
239,260
|
53,183
|
451,325
|
57,602
|
|||||||||
Operating
expenses:
|
|||||||||||||
Consulting
and professional fees
|
161,241
|
244,566
|
618,380
|
532,880
|
|||||||||
Officers’
compensation
|
58,811
|
48,381
|
213,280
|
163,451
|
|||||||||
General
and administrative
|
275,532
|
167,473
|
651,055
|
329,380
|
|||||||||
Selling
expenses
|
77,650
|
40,133
|
284,916
|
46,611
|
|||||||||
Research
and development
|
41,931
|
46,891
|
134,730
|
63,253
|
|||||||||
Depreciation
and amortization (excluding depreciation of production and research
facilities)
|
35,234
|
23,060
|
96,098
|
93,291
|
|||||||||
Allowance
and provision
|
(60
|
)
|
48,039
|
604
|
51,138
|
||||||||
Total
operating expenses
|
650,339
|
618,543
|
1,999,063
|
1,280,004
|
|||||||||
Operating
loss
|
(411,079
|
)
|
(565,360
|
)
|
(1,547,738
|
)
|
(1,222,402
|
)
|
|||||
Interest
expenses
|
(171,743
|
)
|
(70,784
|
)
|
(573,647
|
)
|
(120,635
|
)
|
|||||
Loss
before minority interest in a subsidiary’s profit
|
(582,822
|
)
|
(636,144
|
)
|
(2,121,385
|
)
|
(1,343,037
|
)
|
|||||
Minority
interest in a subsidiary’s profit
|
(15,699
|
)
|
(134
|
)
|
(8,778
|
)
|
(134
|
)
|
|||||
Loss
from continuing operations
|
(598,521
|
)
|
(636,278
|
)
|
(2,130,163
|
)
|
(1,343,171
|
)
|
|||||
Loss
on discontinued operations:
|
|||||||||||||
Discontinued
urea entrepot trade - Commission paid to a related party
|
-
|
-
|
(414,509
|
)
|
-
|
||||||||
Net
loss
|
$
|
(598,521
|
)
|
$
|
(636,278
|
)
|
$
|
(2,544,672
|
)
|
$
|
(1,343,171
|
)
|
|
Other
comprehensive income (loss):
|
|||||||||||||
Translation
adjustment
|
(7,653
|
)
|
12,159
|
(34,234
|
)
|
28,356
|
|||||||
Comprehensive
loss
|
$
|
(606,174
|
)
|
$
|
(624,119
|
)
|
$
|
(2,578,906
|
)
|
$
|
(1,314,815
|
)
|
|
Net
loss from continuing operations per common share -basic and
diluted
|
$
|
(0.008
|
)
|
$
|
(0.010
|
)
|
$
|
(0.034
|
)
|
$
|
(0.022
|
)
|
|
Net
loss on discontinued operations per common share -basic and
diluted
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
|||||
Weighted
average number of common shares outstanding-basic and
diluted
|
76,122,358
|
64,565,278
|
74,033,591
|
61,801,131
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock
|
Additional
Paid-in
Capital
|
Stock-based
Compensation
Reserve
|
Accumulated
Deficits
|
Other
Comprehensive
Income
|
Total
Stockholders’
Deficiency
|
|||||||||||||||||
|
Shares
|
Amount
|
||||||||||||||||||||
Balance,
January 1, 2007
|
70,149,556
|
70,150
|
8,311,975
|
(523,468
|
)
|
(7,766,654
|
)
|
1,166
|
93,169
|
|||||||||||||
Issuance
of common stock for exercise of warrants at January 5,
2007
|
1,000,000
|
1,000
|
(1,000
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||
Issuance
of common stock for cashless exercise of warrants on April 11,
2007
|
610,278
|
610
|
(610
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||
Issuance
of common stock for cashless exercise of warrants on April 20,
2007
|
97,844
|
98
|
(98
|
)
|
-
|
-
|
-
|
-
|
||||||||||||||
Issuance
of common stock for conversion of principal and interest of 6% Notes
during nine months ended September 30, 2007
|
4,290,032
|
4,290
|
288,918
|
-
|
-
|
-
|
293,208
|
|||||||||||||||
Issuance
of 700,000 shares of common stock to a consultant on April 18,
2007
|
700,000
|
700
|
125,300
|
-
|
-
|
-
|
126,000
|
|||||||||||||||
Issuance
of 250,000 shares of warrants to a consultant
|
-
|
-
|
44,414
|
-
|
-
|
-
|
44,414
|
|||||||||||||||
Amortizaton
of fair value of warrants to a financing consultant in the nine
months ended September 30, 2007
|
-
|
-
|
-
|
57,886
|
-
|
-
|
57,886
|
|||||||||||||||
Amortization
of fair value of employee stock option cancelled
|
-
|
-
|
-
|
55,792
|
-
|
-
|
55,792
|
|||||||||||||||
Amortization
of fair value of employee stock options granted in 2006
|
-
|
-
|
-
|
61,592
|
-
|
-
|
61,592
|
|||||||||||||||
Fair
value of warrants issued to a related party in June
|
-
|
-
|
15,172
|
-
|
-
|
-
|
15,172
|
|||||||||||||||
Fair
value of warrants issued to a related party in September
|
-
|
-
|
60,742
|
-
|
-
|
-
|
60,742
|
|||||||||||||||
Net
loss for nine months ended September 30, 2007
|
-
|
-
|
-
|
-
|
(2,544,672
|
)
|
-
|
(2,544,672
|
)
|
|||||||||||||
Other
comprehensive income for nine months ended September 30,
2007
|
-
|
-
|
-
|
-
|
-
|
5,252
|
5,252
|
|||||||||||||||
Balance,
September 30, 2007
|
76,847,710
|
76,848
|
8,844,813
|
(348,198
|
)
|
(10,311,326
|
)
|
6,418
|
(1,731,445
|
)
|
|
Nine Months Ended September 30,
|
||||||
Item
|
2007
|
2006
|
|||||
Cash
flows from operating activities:
|
|||||||
Net
loss
|
$
|
(2,544,672
|
)
|
$
|
(1,343,171
|
)
|
|
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
|||||||
Depreciation
and amortization
|
212,001
|
127,404
|
|||||
Amortization
of detachable warrants, options and stocks as compensation
|
966,950
|
98,996
|
|||||
Provision
for doubtful debt and inventory impairment
|
10,879
|
51,138
|
|||||
(Gain)/Loss
on disposal of fixed assets
|
2,033
|
-
|
|||||
Minority
interest in subsidiary
|
8,778
|
134
|
|||||
Changes
in operating assets and liabilities:
|
|||||||
Accounts
receivable
|
476,984
|
450,505
|
|||||
Inventories
|
(154,927
|
)
|
(90,716
|
)
|
|||
Prepaid
expenses
|
(8,947
|
)
|
(539,771
|
)
|
|||
Other
current assets
|
(8,833
|
)
|
(38,185
|
)
|
|||
Deferred
financing cost
|
-
|
(50,000
|
)
|
||||
Accounts
payable and accrued expenses
|
691,359
|
15,841
|
|||||
Construction
costs payable
|
-
|
(13,909
|
)
|
||||
Due
to related parties-trade
|
70,000
|
-
|
|||||
Net
cash used in operating activities
|
(278,395
|
)
|
(1,331,734
|
)
|
|||
Cash
flows from investing activities:
|
|||||||
Purchase
of property and equipment
|
(203,768
|
)
|
(9,144
|
)
|
|||
Acquisition
of intangible assets
|
-
|
(126,443
|
)
|
||||
Net
cash used in investing activities
|
(203,768
|
)
|
(135,587
|
)
|
|||
Cash
flows from financing activities:
|
|||||||
Proceeds
from issuance of common stock
|
-
|
754,416
|
|||||
Proceeds
from subscription of common stock
|
|||||||
Proceeds
from related parties
|
436,119
|
106,318
|
|||||
Proceeds
from long-term convetible notes
|
-
|
1,592,500
|
|||||
Repayment
to related parties
|
(417,932
|
)
|
(553,942
|
)
|
|||
Repayment
of convertible notes payable
|
-
|
(307,135
|
)
|
||||
Repayment
of long-term borrowings
|
(4,627
|
)
|
(6,904
|
)
|
|||
Net
cash provided by financing activities
|
13,560
|
1,585,253
|
|||||
Effect
of exchange rate changes on cash and cash
equivalents
|
20,252
|
34,501
|
|||||
Cash
and cash equivalents:
|
|||||||
Net
increase (decrease)
|
(448,351
|
)
|
152,433
|
||||
Balance
at beginning of period
|
498,103
|
14,576
|
|||||
Balance
at end of period
|
$
|
49,752
|
$
|
167,009
|
|||
Supplemental
Disclosures of Cash flow Information:
|
|||||||
Cash
paid for interest
|
$
|
302
|
$
|
34,014
|
|||
Cash
paid for taxes
|
$
|
-
|
$
|
-
|
|||
Non-cash
investing and financing activities:
|
|||||||
Issuance
of detachable warrants in conjunction with loans
|
$
|
75,914
|
$
|
962,453
|
|||
Fixed
assets invested by minority shareholer of subsidiary
|
-
|
120,000
|
|||||
Issuance
of warrants as compensation to consultants
|
44,414
|
-
|
|||||
Issuance
of common stock for long-term convertible notes payable and
interest
|
293,209
|
-
|
|||||
Issuance
of stock as compensation to consultants
|
126,000
|
-
|
|||||
Issuance
of stock for cashless exercise of warrants
|
1,707
|
-
|
1.
|
Background
and Basis of
Presentation
|
Buildings
|
20-35
years
|
Machinery
and equipment
|
4-12
years
|
Automobiles
|
8
years
|
Office
equipment
|
5
years
|
Computer
software
|
3
years
|
2.
|
Recent
Accounting
Pronouncements
|
3.
|
Accounts
Receivable
|
4.
|
Inventories
|
Item
|
September 30, 2007
|
December 31, 2006
|
|||||
Raw
materials
|
$
|
630,798
|
$
|
439,397
|
|||
Finished
goods
|
65,469
|
101,271
|
|||||
Others
|
-
|
672
|
|||||
Total
|
$
|
696,267
|
$
|
541,340
|
5.
|
Prepaid
expenses
|
Item
|
September 30, 2007
|
December 31, 2006
|
|||||
Prepaid
stock-based compensation to consultants(1)
|
$
|
89,468
|
$
|
256,800
|
|||
Prepaid
charges relating to urea entrepot trade(2)
|
-
|
30,097
|
|||||
Others
|
13,354
|
15,110
|
|||||
Total
|
$
|
102,822
|
$
|
302,007
|
6.
|
Property,
Plant and Equipment
|
7.
|
Intangible
Assets
|
Expected
Amortization Period
started on the purchase date of
August 1, 2004
|
Gross carrying value
|
Accumulated amortization
|
Net
value
at September 30, 2007
|
||||||||||
Patent
|
8.5
years
|
$
|
480,411
|
$
|
176,729
|
$
|
303,682
|
Future
expected amortization
|
Amount
|
|||
2007
|
$
|
14,130
|
||
2008
|
56,519
|
|||
2009
|
56,519
|
|||
2010
|
56,519
|
|||
2011
|
56,519
|
|||
Thereafter
|
$
|
60,529
|
8.
|
Deferred
Financing Costs
|
9.
|
Deposit
to Purchase Proprietary
Technology
|
10.
|
Accounts
Payable and Accrued
Expenses
|
Item
|
September 30, 2007
|
December 31, 2006
|
|||||
Consulting
and professional payables
|
$
|
418,521
|
$
|
419,835
|
|||
Payables
to material suppliers
|
340,957
|
99,263
|
|||||
Salary
payable
|
164,140
|
71,793
|
|||||
Interest
payable
|
156,563
|
80,775
|
|||||
Payables
to Kiwa & CAU R&D center
|
126,485
|
25,612
|
|||||
Insurance
payable
|
93,733
|
89,290
|
|||||
Credit
card balance
|
79,087
|
69,554
|
|||||
Office
rental payable
|
78,738
|
54,926
|
|||||
Payables
to equipment suppliers
|
49,027
|
14,222
|
|||||
Advances
from customers
|
48,397
|
7,359
|
|||||
Rebates
payable to customers
|
-
|
40,651
|
|||||
Others
|
76,980
|
10,699
|
|||||
Total
|
$
|
1,632,627
|
$
|
983,980
|
11.
|
Construction
Costs Payable
|
12.
|
Related
Party Transactions
|
Item
|
Notes
|
September 30,
2007
|
December 31,
2006
|
|||||||
(1) Non-trade
transactions:
|
||||||||||
Mr.
Wei Li (“Mr. Li”)
|
(i)
|
|
$
|
415,010
|
$
|
32,398
|
||||
Discount
of fair value of warrants issued
to Mr. Li
|
(60,555
|
)
|
-
|
|||||||
China
Star Investment Management Co., Ltd. (“China
Star”)
|
(ii)
|
|
169,983
|
464,408
|
||||||
(2) Trade
transaction
|
||||||||||
UPB
International Sourcing Limited (“UPB”)
|
(iii)
|
|
70,000
|
-
|
||||||
Total
|
$
|
524,438
|
$
|
496,806
|
Item
|
September
30, 2007
|
December 31,
2006 |
|||||
Unsecured
loan payable to Zoucheng Municipal Government, non-interest bearing,
becoming due within three years from Kiwa Shandong’s first profitable year
on a formula basis, interest has not been imputed due to the
undeterminable repayment date
|
$
|
1,198,274
|
$
|
1,152,561
|
|||
Unsecured
loan payable to Zoucheng Science & Technology Bureau, non-interest
bearing, it is due in Kiwa Shandong’s first profitable year, interest has
not been imputed due to the undeterminable repayment date
|
332,854
|
320,156
|
|||||
Total
|
$
|
1,531,129
|
$
|
1,472,717
|
14.
|
Long-Term
Convertible Notes
Payable
|
15.
|
Equity-Based
Transactions
|
16.
|
Stock-based
Compensation
|
17.
|
Segment
Reporting
|
Item
|
Bio-fertilizer
|
Livestock
Feed
|
Corporate(1)
|
Total
|
|||||||||
Quarter
ended September 30, 2007
|
|||||||||||||
Net
sales
|
106,538
|
2,851,434
|
-
|
2,957,972
|
|||||||||
Gross
profit
|
63,552
|
175,708
|
-
|
239,260
|
|||||||||
Operating
expenses
|
104,725
|
97,221
|
448,393
|
650,339
|
|||||||||
Operating
profit (loss)
|
(41,173
|
)
|
78,487
|
(448,393
|
)
|
(411,079
|
)
|
||||||
Interest
income (expense)
|
(8,886
|
)
|
7
|
(162,864
|
)
|
(171,743
|
)
|
||||||
Minority
interest in subsidiary
|
-
|
(15,699
|
)
|
-
|
(15,699
|
)
|
|||||||
Net
income (loss)
|
(50,059
|
)
|
62,795
|
(611,257
|
)
|
(598,521
|
)
|
||||||
Total
assets as of September 30, 2007
|
2,277,332
|
905,593
|
375,607
|
3,558,532
|
|||||||||
Quarter
ended September 30, 2006
|
|||||||||||||
Net
sales
|
17,381
|
888,687
|
-
|
906,068
|
|||||||||
Gross
profit
|
6,333
|
46,850
|
-
|
53,183
|
|||||||||
Operating
expenses
|
216,676
|
46,188
|
355,679
|
618,543
|
|||||||||
Operating
profit (loss)
|
(210,343
|
)
|
662
|
(355,679
|
)
|
(565,360
|
)
|
||||||
Interest
income (expense)
|
(532
|
)
|
7
|
(70,259
|
)
|
(70,784
|
)
|
||||||
Minority
interest in subsidiary
|
-
|
(134
|
)
|
-
|
(134
|
)
|
|||||||
Net
income (loss)
|
(210,593
|
)
|
803
|
(426,488
|
)
|
(636,278
|
)
|
||||||
Total
assets as of September 30, 2006
|
2,360,253
|
495,664
|
798,768
|
3,654,685
|
(1) |
The
Beijing Representative Office of Kiwa Shandong fulfils part of our
corporate managerial function. Most of its expenses relating to this
function were categorized under the corporate
heading.
|
18.
|
Commitments
and Contingencies
|
Fiscal
year
|
Amount
|
|||
2007
|
$
|
55,527
|
||
2008
|
216,211
|
|||
2009
|
58,004
|
|||
Total
|
$
|
329,742
|
19.
|
Subsequent
Event
|
Three
months ended Sepember 30,
|
Nine
months ended Sepember 30,
|
|||||||||||||||||||||||||||
2007
|
2006
|
Increase
|
%
|
2007
|
2006
|
Increase
|
%
|
|||||||||||||||||||||
Bio-fertilizer:
|
||||||||||||||||||||||||||||
Net
sales
|
$
|
106,538
|
17,381
|
89,157
|
513.0
|
%
|
$
|
135,712
|
41,755
|
93,957
|
225.0
|
%
|
||||||||||||||||
Quantity
(Tons)
|
91
|
55
|
36
|
65.9
|
%
|
133
|
101
|
32
|
31.9
|
%
|
||||||||||||||||||
Average
price (i)
|
|
|
$
|
1,168
|
316
|
$
|
1,019
|
413
|
||||||||||||||||||||
Bio-enhanced
feed:
|
||||||||||||||||||||||||||||
Net
sales
|
$
|
2,851,434
|
888,687
|
1,962,747
|
220.9
|
%
|
$
|
6,079,000
|
888,687
|
5,190,313
|
584.0
|
%
|
||||||||||||||||
Quantity
(Tons)
|
7,550
|
3,157
|
4,393
|
139.2
|
%
|
20,561
|
3,157
|
17,405
|
551.4
|
%
|
||||||||||||||||||
Average
price (ii)
|
|
|
$
|
378
|
282
|
$
|
296
|
282
|
||||||||||||||||||||
Total
net sales
|
$
|
2,957,972
|
906,068
|
2,051,904
|
226.5
|
%
|
$
|
6,214,712
|
930,442
|
5,284,270
|
567.9
|
%
|
Exhibit
No. |
Description
|
Incorporated
by
Reference in Document |
Exhibit
No.
in Incorporated Document |
|||
3.1
|
Certificate
of Incorporation, effective as of July 21, 2004.
|
Form
8-K filed on July
23, 2004
|
3.1
|
|||
3.2
|
Bylaws,
effective as of July 22, 2004.
|
Form
8-K filed on July
23, 2004
|
3.2
|
|||
3.3
|
Certificate
of Amendment to Certificate of Incorporation, effective as of September
27, 2006.
|
Form
10-QSB filed on November 15, 2006
|
3.3
|
Exhibit
No. |
Description
|
Incorporated
by
Reference in Document |
Exhibit
No.
in Incorporated Document |
|||
10.58
|
Consulting
Agreement dated April 9, 2007, between Kiwa Bio-Tech Products Group
Corporation and First Trust Group, Inc.
|
Form
10-QSB filed on May 14, 2007
|
10.58
|
|||
10.59
|
Termination
of Agreement dated July 15, 2007 between Kiwa Bio-Tech Products Group
Ltd.
and China
Hua Yang Roneo Corporation
|
Form
10-QSB filed on August 14, 2007
|
10.59
|
|||
10.60
|
Termination
of Agreement dated July 18, 2007 between Kiwa Bio-Tech Products Group
Ltd.
and Shengkui
Technologies Inc.
|
Form
10-QSB filed on August 14, 2007
|
10.60
|
|||
10.61
|
Termination
of Agreement dated July 22, 2007 between Kiwa Bio-Tech Products Group
Ltd.
and UPB
International Sourcing Limited
|
Form
10-QSB filed on August 14, 2007
|
10.61
|
|||
10.62
|
Advance
agreement with Wei Li dated June 30, 2007
|
Filed
herewith.
|
||||
10.63
|
Advance
agreement with Wei Li dated September 10, 2007
|
Filed
herewith.
|
||||
10.64
|
Stock
Purchase Agreement between the Company, Mr. Li and the Investors
named
therein dated October 24, 2007
|
Form
8-K filed on October 29, 2007
|
10.1
|
|||
10.65
|
Stock
Purchase Agreement between the Company, Mr. Li and the Investors
named
therein dated October 24, 2007.
|
Form
8-K filed on October 29, 2007
|
10.2
|
|||
21
|
List
of Subsidiaries
|
Form
10-KSB filed on April 2, 2007
|
||||
31.1
|
Certification
of Principal Executive Officer pursuant to Rule 13a-14(a)/15d-14(a)
of the
Securities Exchange Act of 1934
|
Filed
herewith.
|
||||
31.2
|
Certification
of Principal Financial Officer pursuant to Rule 13a-14(a)/15d-14(a)
of the
Securities Exchange Act of 1934
|
Filed
herewith.
|
||||
32.1
|
Certification
of Principal Executive Officer, pursuant to 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
Filed
herewith.
|
||||
32.2
|
Certification
of Principal Financial Officer, pursuant to 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
Filed
herewith.
|
/s/
Wei Li
|
November
7, 2007
|
Chief
Executive Officer and Chairman of the Board of
Directors
|
|
Wei
Li
|
(Principal
Executive Officer)
|
||
/s/
Lian Jun Luo
|
November
7, 2007
|
Chief
Financial Officer and Director
|
|
Lian
Jun Luo
|
(Principal
Financial Officer and Principal Accounting
Officer)
|