Courtesy of mviramgama on the Yahoo Finance board:
"On May 29, 2006, the Company announced that China BioPharma Limited, a wholly owned subsidiary of the Company, has received approval from Zhejiang Provincial government of the Peoples Republic of China for its investment into Zhejiang Tianyuan Bio-Tech Co., Ltd. China BioPharma Limited will invest US$3,900,000 into Zhejiang Tianyuan Bio-Tech Co., Ltd. for 65% of the ownership. The investment is to be made within 180 days from May 24, 2006, when the operating license of Zhejiang Tianyuan Bio-Tech Co., Ltd. was issued by the government. Peter Wang, the Chairman of the Board of Directors of Techedge Inc., will be the Chairman of the Board of Directors of Zhejiang Tianyuan Bio-Tech Co., Ltd." LINK
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