Date of report (Date of earliest event reported):
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December 13, 2011
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CHINA SKY ONE MEDICAL, INC.
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(Exact Name of Registrant as Specified in Charter)
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Nevada
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001-34080
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87-0430322
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(State or Other Jurisdiction
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(Commission
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(IRS Employer
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of Incorporation)
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File Number)
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Identification No.)
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No. 2158, North Xiang An Road, Song Bei District,
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Harbin, People’s Republic of China 150028
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(Address of Principal Executive Offices)
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Registrant's telephone number, including area code:
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86-451-87032617 (China)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Item 1.01.
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Entry into a Material Definitive Agreement.
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·
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a new entity, Harbin Tian Xin Biological Engineering Ltd. (“Harbin Tian Xin”), will be formed in the PRC to store, and conduct research and development of, stem cells;
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·
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TDR will invest 90 million RMB (approximately $14.2 million), representing 39% of Harbin Tian Xin’s registered capital, of which (a) 65% is payable within 15 days of the execution of the Agreement, and (b) 35% is payable within 6 months after initial payment is made;
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·
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one of Harbin Tian Xin’s five board members, and one of the three individuals on Harbin Tian Xin’s board of supervisors, shall be a candidate proposed by TDR;
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·
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TDR shall have the right to appoint Harbin Tian Xin’s Chairman and General Manager;
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·
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the Parties agreed that they shall not engage in any business which competes with the business of Harbin Tian Xin; and
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·
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the Parties agreed that Harbin Tian Xin’s company registration shall be canceled and the company shall be liquidated if it does not attain certain financial requirements (to be determined at the first meeting of Harbin Tian Xin’s board of directors) for three consecutive years.
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Item 2.03.
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Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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Item 9.01.
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Joint Venture Investment Agreement, dated December 13, 2011
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99.1
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Press Release, dated December 16, 2011
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CHINA SKY ONE MEDICAL, INC.
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(Registrant)
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Date: December 16, 2011
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By:
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/s/ Liu Yan-qing
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Liu Yan-qing
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Chairman, Chief Executive Officer and President
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