Attached files
| file | filename |
|---|---|
| EX-99.1 - Jiangbo Pharmaceuticals, Inc. | v189733_ex99-1.htm |
| EX-17.1 - Jiangbo Pharmaceuticals, Inc. | v189733_ex17-1.htm |
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 1934
Date of
Report (date of earliest event reported): June 29, 2010
JIANGBO
PHARMACEUTICALS, INC.
(Exact
name of registrant as specified in charter)
Florida
(State or
other jurisdiction of incorporation)
|
001-34763
|
65-1130026
|
|
(Commission
File Number)
|
(IRS
Employer Identification
No.)
|
|
Middle
Section, Longmao Street, Area A, Laiyang Waixiangxing Industrial
Park
|
|
Laiyang
City, Yantai, Shandong Province, People’s Republic of China
265200
|
(Address
of principal executive offices and zip code)
(0086)535-7282997
(Registrant's
telephone number including area code)
(Registrant's
former name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of 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(b) under the Exchange Act (17 CFR
240.14a-12(b))
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
5.03. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On June
29, 2010, Mr. Wubo Cao resigned from his position as the Chief Executive Officer
of Jiangbo Pharmaceuticals, Inc (the “Company”). Mr. Cao will
continue in his role as Chairman of the Company’s Board of Directors. There were
no disagreements between Mr. Cao and the Company on any matter relating to the
Company’s operations, policies or practices, which resulted in his
resignation.
The
Company’s Board of Directors approved the appointment of Mr. Linxian Jin as
the Company’s new Chief Executive Officer effective July 1, 2010. Mr.
Jin, age 44 joined Laiyang Jiangbo Pharmaceuticals, Inc., a wholly owned
subsidiary of the Company, as Deputy General Manager of Production Technology in
April 2008. From July 2006 to March 2008, Mr. Jin was the General Manager of
Shandong Luxi Pharmacy Co., Ltd and Deputy General Manager of Shandong Quancheng
Pharmaceutical Co., Ltd. From October 2000 to June 2006, Mr. Jin
served as Deputy General Manager with Zibo Hualong Pharmaceutical Co., Ltd. and
Linuo Group Jinan Yongning Pharmaceutical Co., Ltd. Mr. Jin began his career in
1990 with Shandong Zaozhuang First Pharmaceutical Factory, where he held several
different positions during his ten-year tenure , including Head of Quality
Inspection Department, Production Manager, Marketing Manager, and Assistant to
General Manager. Mr. Jin holds a bachelor degree with a major in
Chemical Pharmaceutical from East China University of Science and
Technology.
The Company has agreed in principle to
pay Mr. Jin an annual salary of RMB180,000 in cash and 7,000 shares of its
common stock for his services as Chief Executive Officer of the
Company. In addition, the Company has agreed in principle that Mr.
Jin shall be eligible to receive up to an additional 9,000 shares of its common
stock per year as performance based bonus compensation for his services as Chief
Executive Officer of the Company. The Company has not yet entered into any
formal employment agreement with Mr. Jin with respect to his services as Chief
Executive Officer of the Company
Mr. Jin
has no family relationships with any of the executive officers or directors of
the Company. There have been no transactions in the past two years to which the
Company or any of its subsidiaries was or is to be a party, in which Mr. Jin
had, or will have, a direct or indirect material interest.
On June 29, 2010, the Board of
Directors of the Company received the resignation of Mr. Xu Haibo from his
position as a member of the Company’s Board of Directors, effective July 1,
2010. There were no disagreements between Mr. Xu and the Company on any matter
relating to the Company’s operations, policies or practices, which resulted in
his resignation. A copy of Mr. Xu’s resignation letter is attached
hereto as Exhibit 17.1.
Item
9.01 Financial
Statements and Exhibits.
|
Exhibit No.
|
Description
|
|
17.1
|
Resignation
Letter dated June 30, 2010 of Xu Haibo to the Board of Directors of
Jiangbo Pharmaceuticals, Inc
|
|
99.1
|
Press
Release dated July 1, 2010
|
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.
| JIANGBO PHARMACEUTICALS, INC. | |||
|
|
By:
|
/s/ Elsa Sung | |
| Name: | Elsa Sung | ||
| Title: | Chief Financial Officer | ||
Dated:
July 2, 2010