0001144204-11-059011.txt : 20111024 0001144204-11-059011.hdr.sgml : 20111024 20111024160219 ACCESSION NUMBER: 0001144204-11-059011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111021 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111024 DATE AS OF CHANGE: 20111024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: China YCT International Group, Inc. CENTRAL INDEX KEY: 0000847464 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 652954561 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53600 FILM NUMBER: 111154533 BUSINESS ADDRESS: STREET 1: GUCHENG ROAD SICHUI COUNTY STREET 2: SHANDONG PROVINCE CITY: SICHUI STATE: F4 ZIP: 273200 BUSINESS PHONE: 86-537-4268278 MAIL ADDRESS: STREET 1: GUCHENG ROAD SICHUI COUNTY STREET 2: SHANDONG PROVINCE CITY: SICHUI STATE: F4 ZIP: 273200 FORMER COMPANY: FORMER CONFORMED NAME: itLinkz Group, Inc. DATE OF NAME CHANGE: 20070406 FORMER COMPANY: FORMER CONFORMED NAME: MEDICAL TECHNOLOGY & INNOVATIONS INC /FL/ DATE OF NAME CHANGE: 19960118 FORMER COMPANY: FORMER CONFORMED NAME: SOUTHSTAR PRODUCTIONS INC DATE OF NAME CHANGE: 19960118 8-K 1 v237902_8k.htm FORM 8-K Unassociated Document
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_____________________

FORM 8-K
_____________________


CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NO.: 0-53600


Date of Report:  October 21, 2011
 
  
CHINA YCT INTERNATIONAL GROUP, INC.
(Exact name of registrant as specified in its charter)
 
 
Delaware
65-2954561
(State of other jurisdiction of
(IRS Employer
incorporation or organization
Identification No.)
 
 
c/o Shandong Spring Pharmaceutical Co., Ltd Economic Development Zone
Gucheng Road Sichui County, Shandong Province, PR China
273200
(Address of principal executive offices)
(Zip Code)

 
86-537-4268278
(Registrant’s telephone number including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 
 
Item 1.01 Entry into a Material Definitive Agreement
 
China YCT International Group, Inc. ( “CYIG”) entered into an Amendment Agreement (the “Amendment Agreement”) as of October 21, 2011, with L.Y. Research Corporation (“LY Research”) and acknowledged by LY (HK) Biotech Ltd. (“LYHK”), a subsidiary of LY Research,(LYHK and LY Research are collectively the “Seller”)), to amend the Purchase Agreement amongst the parties, dated as of February 28, 2011, as amended and restated as of August 15, 2011 (the “Purchase Agreement”).
 
The Purchase Agreement provides, in part, for the transfer to CYIG of US patent No. 6,475,531 B1, titled “Safe Botanical Drug for Treatment and Prevention of Influenza and Increasing Immune Function” (the “Patent”), in consideration for the issuance of shares of common stock of CYIG. CYIG delivered 44,254,952 shares of common stock, which constituted 60% of the then issued and outstanding shares of common stock of CYIG, to a designee of Seller in consideration for the assignment of the Patent by LYHK on January 25, 2011.

The Amendment Agreement provides in part that:
 
 
(1)
In the event that CYIG cannot, within one year from October 21, 2011, either (i) raise a minimum of $20,000,000 in gross proceeds from a debt or equity financing, or a series of debt and/or equity financings (the “Financing”), or (ii) list its common stock on NASDAQ or a major foreign stock exchange, then the shares (the “Shares”) issued pursuant to the Purchase Agreement shall be returned to CYIG and the Patent shall be returned to LY Research and the Purchase Agreement, as amended, shall be cancelled and of no further force or effect; and
 
 
(2)
LY Research agrees that it waives its right to (i) vote the Shares and (ii) receive any dividends or other distributions from CYIG until the earlier of (a) completion of the Financing or (b) the listing of the shares of common stock of CYIG on NASDAQ or a major foreign stock exchange.
 
LY Hollding Limited, an affiliate of Seller, which is the holder of the shares of common stock issued under the Purchase Agreement, has also agreed to perform all of the obligations of Seller with respect to such shares of common stock pursuant to the terms of  the Purchase Agreement, as amended.
 
The foregoing summary of the Amendment Agreement, does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment Agreement, which is attached as Exhibit 10.1 and incorporated herein by reference.
 
 
Item 9.01 Financial Statements and Exhibits.
 
 (d)
Exhibits
 
Exhibit
Number 
 
 
Description
     
10.1
 
Amendment Agreement, dated as of October 21, 2011 between China YCT International Group, Inc. and L.Y. Research Corporation.
 
 
 


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
  China YCT International Group, Inc.  
       
       
Dated: October 24, 2011
By:
/s/ Yan Tinghe
 
   
Yan Tinghe
 
   
Chief Executive Officer
 
 
 
 

 

EX-10.1 2 v237902_ex10-1.htm EXHIBIT 10.1 Unassociated Document
Exhibit 10.1
Amendment Agreement

This Amendment Agreement is dated as of October 21, 2011 between
本修正合同于2011年10月_21 日由以下双方合意达成
Party A: LY Research Corp. 甲方: LY科技公司 22 Sunrise Bay Blvd., Tuckerton, NJ 08087, USA, and Party B: China YCT International Group, Inc. (“CYIG”) 乙方:中国永春堂国际集团公司(“永春堂”) Sishui Industrial Zone, Shandong, China

WHEREAS, the parties executed a Purchase Agreement in February 2011, as amended as of August 15, 2011 (the “Purchase Agreement”) which provided, in part, for the transfer to Party B of US patent No. 6,475,531 B1 (the “Patent””) in consideration for the issuance of shares of common stock of the Company (the “Shares”) and desire to execute this Amendment Agreement to provide, as follows.

鉴于各方已2011年2月签订了收购协议,并于2011年8月15日修订(“收购协议”),约定,由甲方向乙方转让美国专利号为6,475,531的专利(“专利”),作为对价乙方向甲方发行其公司的普通股(“股份”),并希望签订此补充协议,约定如下。

1.
Financing

In the event that Party B cannot, within one year of the date of this Agreement,  either (i) raise a minimum of $20,000,000 in gross proceeds from a debt or equity financing, or a series of debt and/or equity financings (the “Financing”), or (ii) list its common stock on NASDAQ or a major foreign stock exchange, then the Shares issued to Party A pursuant to the Purchase Agreement shall be returned to Party B and the Patent shall be returned to Party A and the Purchase Agreement, as amended, shall be cancelled and of no further force or effect.
融资。如果乙方不能, 自本修正合同成立之日起一年内,(i)完成2000万美元毛总收益的一个或一系列债务或股本融资(“融资”),或(ii)使其普通股在NASDAQ或其他国外主要交易所上市,那么根据收购合同给甲方的股份应归还乙方,且专利应归还甲方,以及经修订的收购协议应被取消,并不发生任何效力。

 
 

 
 
2.
Voting and Dividends

Party A agrees that it waives its right to (i) vote its Shares and (ii) receive any dividends or other distributions from Party B until the earlier of (a) completion of the Financing or (b) the listing of the shares of common stock of Party B on NASDAQ or a major foreign stock exchange  .

投票权和分红。甲方同意放弃其以下权利:(1)股份的投票权和(2)在(a)融资完成,或(b)本合同成立之日起一年内乙方的股票在NASDAQ或其他国外主要交易所挂牌,任一事件发生之前,从永春堂获得分红的权利。

3.
Entire Agreement.
 
This Amendment (when executed) and the Purchase Agreement, will constitute the entire agreement between the parties with respect to the subject matter hereof and will supersede all prior agreements, understandings and undertakings, if any, with respect to the matters covered hereby and by the Purchase Agreement. .
 
完整协议。本修正协议(当签字时)及收购协议将构成各方之间就本协议和收购协议标的物的全部协议,并将取代所有涉及所涉事项方面的协议,理解和承诺。
 
期。

4.
Miscellaneous.

The Purchase Agreement, as amended by this Amendment Agreement, may not be changed, modified or amended except by writing signed by the parties hereto.  This Agreement shall be binding upon and inure to the benefit of the successors, affiliates and assigns of the parties.  This Agreement shall be governed by the laws of the State of New York without regard to conflicts of laws.  In the event of conflict, the parties consent to the jurisdiction and venue of the courts of the State of New York.

杂项。除双方书面签字认可外,经本修正协议修正的收购协议不得被改变,修改或修订。本协议应具有约束力,并衍生至各方的继承人,关联方和受转让人。本协议应受排除冲突法的纽约州法律管辖。在法律冲突时,各方同意纽约州法院的管辖权和地点。
 
 
 

 
 
Party A: LY Research Corp.甲方
By: /s/ Yanguang Liu
 
Dr. Yanguang Liu, Chief Executive Officer
 
Party B: China YCT International Group, Inc.乙方
By: /s/Tinghe Yan
 
Tinghe Yan, Chief Executive Officer
 
Acknowledged: 通知:
 
LY (HK) Biotech Limited
 
By: /s/ Yanguang Liu
 
Dr. Yanguang Liu