Weikang Bio-Tech (PINK:WKBT)

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Tuesday, April 3, 2012

WKBT Exhibits less transparency in its 2011 10K: Omits the risk factors section from the 2011 10K. This section was present in its 2010 10K.

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Monday, February 13, 2012

On February 1, 2012, Alpha Capital Anstalt (“Plaintiff”) filed a civil suit (the “Complaint”) against the Company in the United States District Court for the Central District Court of California. In the Complaint, Plaintiff asserts breach of contract claims against the Company based upon the Company’s purported breach of certain anti-dilution provisions of a subscription agreement (the “Subscription Agreement”). In the Complaint, Plaintiff seeks unspecified damages, together with injunctive relief from the Court ordering the Company to issue to it at least 100,832 shares of its common stock and also to reduce the exercise price on certain warrants owned by Plaintiff. The Company’s time to answer or otherwise respond to the Complaint has not yet expired. The Company will vigorously defend the lawsuit.

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Thursday, May 12, 2011

Please note the following statement in WKBT 2010 10KNet cash provided by financing activities was $4.35 million for 2010 compared to $2.55 million cash outflow for 2009. The cash inflow in financing activities for 2010 mainly consisted of proceeds of $4.32 million from stock issued in a private placement. The net cash outflow in financing activities for 2009 mainly consisted of payment of $3.81 million for the remaining portion of the acquisition price of Tianfang; net of a repayment of sales receipts of $1.26 million from management previously deposited into a personal bank debit card owned by the Company’s officer mainly for the purpose of convenience on payment collection.

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