UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Series A Convertible Preferred Stock | Â (2) | Â (2) | Common Stock | 941,171 | $ 1.7 | D (1) | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Chief China Resources Ltd 18 CHAOYANGMENWAI STREET SUITE B710, FULL LINK PLAZA BEIJING, F4 100020 |
 |  X |  |  |
Wang Ken ROOM 12B2, HANWEI BUILDING GUANGHUA ROAD BEIJING, F4 100004 |
 |  X |  |  |
Ken Wang, General Partner of Chief China Resources Ltd. | 05/14/2007 | |
**Signature of Reporting Person | Date | |
Ken Wang | 05/14/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Ken Wang, as general partner of Chief China Resources Ltd., beneficially owns the reported securities indirectly, but disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. |
(2) | The Series A Convertible Preferred Stock (the "Preferred Stock") is immediately convertible into Common Stock at a conversion rate of 1 share of Common Stock per each share of Preferred Stock. The Preferred Stock will automatically convert into Common Stock on the date that the average closing price of the Common Stock over a consecutive, trailing 6-month period, as reported on the Nasdaq Global Market, equals or exceeds $10.00 per share (as adjusted in certain events). |