| x      | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934          |
|--------|---------------------------------------------------------------------------------------------------------|
|   | For the fiscal year ended      December 31, 2008                                                        |
|   |                                                                                                    |
|  ̈ | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF 1934 |
|   | For the transition period      from  ___________ to_____________                              |

| Nevada                                                                  |   | 20-2597168                                      |
|------------------------------------------------------------------------------|--------|-------------------------------------------------|
| (State      or Other Jurisdictionof Incorporation      or Organization) |   |  (I.R.S.      Employer Identification No.) |

| Common      Stock, $0.001 par value |   | The      Nasdaq Stock Market LLC                |
|-------------------------------------|--------|-------------------------------------------------|
| (Title      of each class)          |   | (Name      of each exchange on whichregistered) |

| Large      accelerated filer  ̈ |                                          | Accelerated      filer x               |
|------------------------------------------|----------------------------------------------------|---------------------------------------------|
| Non-accelerated      filer  ̈   | (Do      not check if a smaller reporting company) | Smaller      reporting company   ̈ |

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|          |                                                                | Page   |
|---------------|---------------------------------------------------------------------|--------|
| PART      III |                                                                |
|          |                                                                |   |
| Item      10. | Directors      and Executive Officers of the Registrant             | 2      |
| Item      11. | Executive      Compensation                                         | 6      |
| Item      12. | Security      Ownership of Certain Beneficial Owners and Management |   |
|          | and      Related Shareholder Matters                                | 13     |
| Item      13. | Certain      Relationships and Related Transactions                 | 15     |
| Item      14. | Principal      Accountant Fees and Services                         | 15     |
|          |                                                                |   |
| PART      IV  |                                                                |
|          |                                                                |   |
| Item      15. | Exhibits      and Financial Statement Schedules                     | 16     |
|          |                                                                |
| SIGNATURES    |                                                                |
|          |                                                                |
| EXHIBITS      |                                                                |

----

| Songyan      Li , PhD       | 42     | Dr.      Li has served as our executive Chairman and as Chairman of our board of      directors since December 2006 and as our Chief Technology Officer since      April 2009. Dr. Li served as chairman of the boards of Nanchang Best and      Shanghai Best from July 2004 to December 2006. As one of the original      founders of Nanchang Best, Mr. Li served as the manager of the Technical      Research and Development Department of Nanchang Best from 1995 to July      2004. Prior to that, he worked as the technical manager in Guangxi Peter      Hand Premix Feed Company, a Chinese subsidiary of global animal nutrition      conglomerate Provimi S.A. from 1991 to 1994. He received his Ph.D. in      Animal Nutrition from Nanjing Agricultural University in    2004.                                                                                                                                                            |
|-----------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Fredric      W. Rittereiser | 72     | Mr.      Rittereiser joined our board of directors in November 2007. From October      1996 until retiring in 2002, Mr. Rittereiser served as chairman of the      board and chief executive officer of Ashton Technology Group, Inc., a      company that develops and commercializes online transaction systems for      the financial industry.  Mr. Rittereiser has served on the board      of directors of SmartHeat Inc., a manufacturer of plate heat exchanger      products, since 2008.                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Arnold      Staloff         | 64     | Mr.      Staloff joined our board of directors in November 2007. From December 2005      to May 2007, Mr. Staloff served as chairman of the board of SFB Market      Systems, Inc., a New Jersey-based company that provides technology      solutions for the management and generation of options series data. From      March 2003 to December 2005, Mr. Staloff was an independent consultant.      From June 1990 to March 2003, Mr. Staloff served as president and chief      executive officer of Bloom Staloff Corporation, an equity and options      market-making firm and foreign currency options floor broker. Mr. Staloff      served as a director for Lehman Brothers Derivative Products Inc. from      1994 until October 2008.  Mr. Staloff has served on the boards      of directors of Shiner International, Inc., a packaging and      anti-counterfeit plastic film company, since 2007 and SmartHeat Inc. since      2008. |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Junhong      Xiong          | 38     | Mr.      Xiong joined our board of directors in November 2006 and has served as our      Chief Executive Officer and Vice Chairman since that time. Mr. Xiong has      also served as chief executive officer of Nanchang Best since its founding      in 1995. Prior to that, Mr. Xiong worked for Guangzhou Huashi Animal      Nutritionals Company as a sales representative, sales manager, and head of      marketing from 1993 to 1995. He was a technician at the Chongming      Progressing Farm Company in Shanghai from 1992 to 1993. Mr. Xiong      graduated from Animal Husbandry & Veterinary College in Jiangxi      Agricultural University and received a Bachelors Degree in      1992.                                                                                                                                                                                                                                                   |

----

| Lixiang      Zhang, PhD | 42     | Dr.      Zhang joined our board of directors in May 2007. Dr. Zhang is a leading      expert in animal nutritional science and management consulting in China.      Dr. Zhang is a professor of Agricultural Management and has served as the      assistant dean of the College of Agricultural Development at Renmin      University of China since July 2003. In 2006, Dr. Zhang was awarded the      title of Excellent Teacher by Renmin University. In 2005, he was named a      Top Ten Enterprise Strategist by the Chinese government. In 2004, Dr.      Zhang was named a Top Ten Best Management Consulting Expert by the Chinese      Government. In 2002, he was awarded the top prize for Innovative      Management Science by the Chinese Ministry of Commerce. Dr. Zhang has      authored over 60 books and articles on the topics of agricultural science      and management science. He has conducted management training programs for      global companies including SONY, Panasonic, General Motors, Motorola,      China Life Insurance, China Telecom among others. Dr. Zhang received a PhD      in Management Science from Renmin University in 2003. |
|-------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Selina      Jin         | 34     | Ms.      Jin was appointed our chief financial officer on April 15, 2009. Ms. Jin      joined AgFeed as its assistant chief financial officer in June 2008. Prior      to joining AgFeed, Ms. Jin was employed as chief financial officer of      Changsha Zhan Hong Energy Chemical Co. Ltd. from 2004 to      2006.  From 2003 to 2004, Ms. Jin was assistant chief executive      officer at Citia International Ltd. N. Z., Ms. Jin was an assistant      professor in the Business School of Central South University from 1997 to      2003. Ms. Jin received her bachelor’s degree in accounting from Hunan      University in 1997 and her Master of Business Administration in Finance      and Accounting from Shanghai University of Financial and Economics in      2008.  Ms. Jin is a member of the China Association of Chief      Financial Officers), the Institute of Management Accountants and the      International Financial Management Association.                                                                                                                                                                             |
|                    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Gerard      Daignault   | 50     | Mr.      Daignault has served as our chief operating officer since August      2008.  Prior to joining AgFeed, Mr. Daignault served as founder      and managing director of Spectrum Agribusiness LLC from October 2007 until      August 2008. Prior to founding Spectrum Agribusiness, Mr. Daignault served      as CFO/Director of Finance for PIC North America, Inc. from May 2004 to      October 2007 through the acquisition by Genus PLC of Sygen PLC (parent      company of PIC North America, Inc.) in December 2005. During his 26+ year      career, Mr. Daignault has held a number of financial and managerial      positions including 18 years at the CFO level for domestic and      international agribusiness, including Purina Mills LLC, PMAG Products (a      subsidiary of Tate & Lyle, N.A.), and Newsham Hybrid Genetics. He      received a Bachelor’s degree in finance and accounting from the University      of Missouri in 1979.                                                                                                                                                                                            |
|                    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Feng      Zhou          | 40     | Mr.      Zhou has served as our vice president, financial controller and corporate      secretary since our founding in 1995. Prior to 1995, he worked at      Guangzhou Huashi Industries for two years as a sales representative. Mr.      Zhou received his bachelor degree in Animal Nutrition in 1992 from Jiangxi      Agricultural University and upon graduation worked at Shanghai Daying      Industry as a technician from July 1992 through October 1993. He obtained      his EMBA degree from Tsinghua University in  2004.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

----

| Zhengru      Xiong | 40     | Mr.      Xiong has served as our Vice President of Technical Operations since our      founding in 1995.  He is the current chairman of Jiangxi      Province Hog Farm Association. He graduated from Jiangxi Agricultural      University in 1992 with a Bachelor's Degree in Animal Farming and from      1992 through 1994 he worked at Jiangxi Agricultural and Technology Company      as a section chief. Mr. Xiong has an EMBA degree from Tsinghua      University.                                                                                                                                                                                                                                 |
|--------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Jinfeng      Yuan  | 29     | Dr.      Yuan has served as our Vice President of Technology since joining AgFeed      in 2006.  Dr. Yuan earned a Ph.D. degree in animal genetics from      Huazhong Agricultural University and the University of Cambridge. He has      studied at the PIC (the international leader in providing genetically      superior pig breeding stock) research lab at the University of Cambridge,      Tianzhong Breeder Pig Company (one of China's top breeder hog companies)      and the World Wildlife Fund (WWF) China.                                                                                                                                                                                 |
|               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| Yunlin      Zheng  | 40     | Mr.      Zheng has served as our Vice President of Marketing since February      2007.  From September 2003 to February 2007, he was the general      manager of Nanchang Best.  Prior to his appointment as general      manager, he held various senior positions including sales manager and      deputy general manager of Nanchang Best since our founding in      1995.  Mr. Zhou received his bachelor degree in Animal Nutrition      in 1992 from Jiangxi Agricultural University and, upon graduation, taught      Animal Nutrition courses in Jiangxi Agricultural University until      1995.  He obtained his EMBA degree from Tsinghua University in      2004. |

----

| Audit                                     |   | Messrs.      Rittereiser and Staloff and Dr. Zhang, with Mr. Staloff as      Chairman.     |
|-------------------------------------------|--------|--------------------------------------------------------------------------------------------|
|                                      |   |                                                                                       |
| Compensation:                             |   | Messrs.      Rittereiser and Staloff and Dr. Zhang, with Mr. Rittereiser as      Chairman. |
|                                      |   |                                                                                       |
| Nominating      and Corporate Governance: |   | Messrs.      Rittereiser and Staloff and Dr. Zhang, with Mr. Rittereiser as      Chairman. |

| ·   | Name; |
|--------------------|-------|

| ·   | Age; |
|--------------------|------|

| ·   | Business      and current residence addresses, as well as residence addresses for the      past 20 years; |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | Principal      occupation or employment and employment history (name and address of      employer and job title) for the past 10 years (or such shorter period as      the candidate has been in theworkforce); |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Educational      background; |
|--------------------|------------------------------|

| ·   | Permission      for AgFeed to conduct a background investigation, including the right to      obtain education, employment and credit  information; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      number of shares of AgFeed common stock beneficially owned by the      candidate, if any; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | The      information that would be required to be disclosed by AgFeed about the      candidate under the rules of the SEC in a proxy statement soliciting      proxies for the election of such candidate as a director (which currently      includes information required by Items 401, 404 and 405 of Regulation      S-K); and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | A      signed consent of the nominee to serve as a director of AgFeed, if      elected. |
|--------------------|-----------------------------------------------------------------------------------------|

----

|   | · | Retain and attract qualified      executives — The compensation of our executives must be competitive      with the organizations with which we compete for talent so that we may      attract and retain talented and experienced executives. Our executives      have, on average, approximately 20 years of experience in the premix feed      and commercial hog productionindustries. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reward outstanding performance      — A significant portion of our executives’ compensation should be      subject to corporate performance measures and therefore be “at risk.”      Performance-based compensation can vary widely from year to year depending      on an executive’s performance and the economic tensions relating to our      business. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Align compensation with our      strategic business objectives — We believe that a component of our      executives' compensation should be related to the degree to which we meet      or exceed both our short- and long-term strategic business      objectives. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Align the interests of our      executives with those of our shareholders— Equity-based awards can      be an effective means of aligning an executive’s financial interests with      those of our shareholders by providing value to the executive only if the      market price of our stockincreases. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Salary - the      fixed amount of compensation for performing day-to-day      responsibilities. |
|--------|--------|-------------------------------------------------------------------------------------------------|

----

|   | · | Bonus - Cash      bonus awards earned for achieving our short-term financial goals and other      strategic objectives measured over theyear. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | Perquisites and Other      Personal Benefits - Historically, we have not provided our named      executives with perquisites or other personal benefits because it is not      customary to provide such perquisites and personal benefits in the      PRC. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Retirement      Benefits - Currently, we do not provide any company-sponsored      retirement benefits or deferred compensation programs to any employee,      including the named executives (other than a mandatory state pension      scheme in which all of our employees in the PRC participate) because it is      not customary to provide such benefits and programs in the      PRC. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Deductibility of      Executive Compensation - Pursuant to Section 162(m) of the Internal      Revenue Code, compensation in excess of $1 million paid to named      executives is not deductible by us, subject to certain exceptions. The      Committee has considered the effect of Section 162(m) of the Code on our      executive compensation and we believe that the compensation paid to our      executive officers generally is fully deductible for federal income tax      purposes. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Accounting for      Share-Based Compensation - We account for share-based compensation      in accordance with the requirements of FASB Statement 123(R). The      Committee takes into consideration the tax consequences of compensation to      the named executives, but tax considerations are not a significant part of      the company’s compensation policy. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name and Principal Position                             |   | Year   |   | Salary(1)      ($) |   |   | Bonus(2)      ($) |   |   | OptionAwards ($) |   |   | TotalCompensation ($) |   |
|---------------------------------------------------------|--------|--------|--------|--------------------|--------|--------|-------------------|--------|--------|------------------|--------|--------|-----------------------|--------|
|                                                    |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |
| Songyan      Li                                         |   | 2008   |   |               | 11,600 |   |              |   | 60,000 |             |   |   |                  |   |   | 71,600 |   |
| Executive      Chairman                                 |   | 2007   |   |               | 20,000 |   |              |   | 0      |             |   |   |                  |   |   | 20,000 |   |
|                                                    |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |   |   |   |
| Junhong      Xiong                                      |   | 2008   |   |               | 12,700 |   |              |   | 40,000 |             |   |   |                  |   |   | 52,700 |   |
| Chief      Executive Officer and Vice Chairman          |   | 2007   |   |               | 13,000 |   |              |   | 5,000  |             |   |   |                  |   |   | 18,000 |   |
|                                                    |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |   |   |   |
| Liangfan      Yan (3)                                   |   | 2008   |   |               | 11,000 |   |              |   | 10,000 |             |   |   |                  |   |   | 21,000 |   |
| Chief      Financial Officer                            |   | 2007   |   |               | 11,000 |   |              |   | 5,000  |             |   |   |                  |   |   | 16,000 |   |
|                                                    |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |   |   |   |
| Gerard      Daignault (4)                               |   | 2008   |   |               | 72,000 |   |              |   | 22,500 |             |   |   | 104,754               |   |   |   | 199,254 |   |
| Chief      Operating Officer                            |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |   |   |   |   |
|                                                    |   |   |   |               |   |   |              |   |   |             |   |   |                  |   |   |   |   |   |
| Feng      Zhou                                          |   | 2008   |   |               | 11,000 |   |              |   | 20,000 |             |   |   |                  |   |   |   | 31,000 |   |
| Vice      President, Financial Controller and Secretary |   | 2007   |   |               | 11,000 |   |              |   | 5,000  |             |   |   |                  |   |   |   | 16,000 |   |

| (1) | The      salary for each of the named executives, except Mr. Daignault, was      calculated and paid in RMB.  The amounts in the foregoing table      represent the US dollar equivalent based on a conversion rate of RMB1 =      $0.1466 at December 31, 2008 and RMB1 - $0.137088 at December 31,      2007. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The      bonus amounts awarded to each of our named executives were paid in      February 2009 for services rendered to Agfeed during  2008. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Mr.      Yan served as our chief financial officer throughout      2008.  However, it should be noted that, effective April 15,      2009, Mr. Yan is no longer our chief financial officer.  He      remains AgFeed's internalcontroller. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Mr.      Daignault joined AgFeed as its Chief Operating Officer in August      2008.  The salary set forth herein would be $216,000 on an      annualized basis.  Mr. Daignault was awarded an option to      purchase 100,000 shares of our common stock on September 25,      2008.  The exercise price is $9.32 per share and the option      vests over a three year period, with 66,667 shares vesting on the second      anniversary of the grant date and 33,333 shares vesting on the third      anniversary of the grant date, provided that Mr. Daignault remains      employed by AgFeed on the vesting dates. The option is exercisable for      five years from the date of grant. The value of the option award is based      on the amount recognized for financial statement reporting purposes in      2008 computed in accordance with FAS 123R (disregarding any estimates      of forfeitures related to service-based vesting conditions). See      Note 8 of the consolidated financial statements in our Annual Report      on Form 10-K regarding assumptions underlying the valuation of stock      option grants. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name                  |   | Grant      Date |    |   | All      OptionAwards:Number      ofSecuritiesUnderlyingOptions(#) |    |    | Exercise      orBase      Price ofOptionAwards($/Sh) |   |   | Closing      MarketPrice      on GrantDate($/Sh) |   |   | Grant      DateFair      Value ofOption Awards (1)($/Sh) |    |
|-----------------------|--------|-----------------|---------|--------|--------------------------------------------------------------------|---------|---------|------------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|---------------------------------------------------------------|---------|
| Songyan      Li       |   |            | — |   |                                                               |    | — |                                                 |   |   | —                                          |   |   |                                                          | — |   |   |   | — |   |
| Junhong      Xiong    |   |            | — |   |                                                               |    | — |                                                 |   |   | —                                          |   |   |                                                          | — |   |   |   | — |   |
| Liangfan      Yan     |   |            | — |   |                                                               |    | — |                                                 |   |   | —                                          |   |   |                                                          | — |   |   |   | — |   |
| Gerard      Daignault |   | 9/25/2008       |    |   |                                                               | 100,000 |    |                                                 |   | 9.32   |                                             |   |   | 9.32                                                          |    |   |   | 5.91 |   |
| Feng      Zhou        |   |            | — |   |                                                               |    | — |                                                 |   |   | —                                          |   |   |                                                          | — |   |   |   | — |   |

| (1) | This      column shows the fair value of the stock options as of the grant date      computed in accordance with FAS123R. |
|-----|---------------------------------------------------------------------------------------------------------------------------|

----

| Name                  |   | Grant      Date |    |   | Number      ofSecuritiesUnderlyingUnexercisedOptions(#)Exercisable |   |    | Number      ofSecuritiesUnderlyingUnexercisedOptions(1)(#)Unexercisable |   |    | OptionExercisePrice($) |   |   | OptionExpirationDate |    |
|-----------------------|--------|-----------------|---------|--------|--------------------------------------------------------------------|--------|---------|-------------------------------------------------------------------------|--------|---------|------------------------|--------|--------|----------------------|---------|
| Songyan      Li       |   |            | — |   |                                                               |   | — |                                                                    |   |    | —                |   |   |                 | — |   |   |   | — |   |
| Junhong      Xiong    |   |            | — |   |                                                               |   | — |                                                                    |   |    | —                |   |   |                 | — |   |   |   | — |   |
| Liangfan      Yan     |   |            | — |   |                                                               |   | — |                                                                    |   |    | —                |   |   |                 | — |   |   |   | — |   |
| Gerard      Daignault |   | 9/25/2008       |    |   |                                                               | 0      |    |                                                                    |   | 100,000 |                   |   |   | 9.32                 |    |   | 9/25/2013 |   |
| Feng      Zhou        |   |            | — |   |                                                               |   | — |                                                                    |   |    | —                |   |   |                 | — |   |   |   | — |   |

|   | (i) | $36,000,      if such termination or constructive termination occurs on or before August      19, 2009; |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | (ii) | $60,000,      if such termination or constructive termination occurs after August 19,      2009 but on or before August 19, 2010;or |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | $100,000,      if such termination or constructive termination occurs after August 19,      2010. |
|--------|-------|---------------------------------------------------------------------------------------------------|

----

| Name                     |   | Fees      Earned orPaid in Cash ($) |   |   | Option Awards ($)(1) |   |    | Total ($) |   |
|--------------------------|--------|-------------------------------------|--------|--------|----------------------|--------|---------|-----------|--------|
|                     |   |                                |   |   |                 |   |    |      |   |
| Fredric      Rittereiser |   |                                | 40,000 |   |                 |   | 31,426  |      |   |   | 71,426 |   |
| Arnold      Staloff      |   |                                | 77,000 |   |                 |   | 31,426  |      |   |   | 108,426 |   |
| Lixiang      Zhang       |   |                                | 14,662 | (2)    |                 |   | — |      |   |   | 14,662 |   |

|  | (1) | The options awarded to Messrs.      Staloff and Rittereiser on September 25, 2008 have an exercise price of      $9.32 per share and vests over a three year period, with 20,000 vesting on      the first anniversary of the grant date, 5,000 vesting on the second      anniversary of the grant date and 5,000 vesting on the third anniversary      of the grant date. The option is exercisable for five years from the date      of grant. The values      of the option awards are based on the amount recognized for financial      statement reporting purposes in 2008 computed in accordance with      FAS 123R (disregarding any estimates of forfeitures related to      service-based vesting conditions). See Note 8 of the consolidated      financial statements in our Annual Report on Form 10-K regarding      assumptions underlying the valuation of stock option      grants. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (2) | Dr.      Zhang received annual base compensation in Chinese Yuan Renminbi (RMB) of      RMB100,000.  Based on a conversion rate of RMB1 = $0.1466 at      December 31, 2008, this was approximately $14,662 for  2008. |
|--|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Name and Address of Beneficial Owner (1)                                                                                                                         |   | Number      ofSharesBeneficiallyOwned |                  |   | Percentage ofSharesBeneficiallyOwned (2) |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------|-----------------------|--------|-----------------------------------------------|--------|
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |
| 5%      Shareholders                                                                                                                                             |   |                                  |                  |   |                                          |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |
| JunQing      Xiong (3)No.      107 Wulonnang, Floor 4Zhang      Gong QuGuangzhou,      China 341000                                                              |   |                                  | 4,752,152             |   |                                          |   | 11.97 | % |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Enable      Capital Management, LLC (4)Enable      Growth Partners, L.P.Mitchell      S. LevineOne      Ferry BuildingSuite      255San      Francisco, CA 94111 |   |                                  | 3,884,724             |   |                                          |   | 9.79 |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Directors      and Named Executives                                                                                                                              |   |                                  |                  |   |                                          |   |   |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Songyan      Li                                                                                                                                                  |   |                                  |        1,766,328 |   |                                          |   | 4.45 |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Junhong      Xiong (3)                                                                                                                                           |   |                                  |        4,036,074 |   |                                          |   | 10.17 |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Liangfan      Yan                                                                                                                                                |   |                                  |        0         |   |                                          |   | — |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Selina      Jin                                                                                                                                                  |   |                                  | 0                     |   |                                          |   | — |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Gerard      Daignault                                                                                                                                            |   |                                  | 200                   |   |                                          |   | * |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Feng      Zhou                                                                                                                                                   |   |                                  |        1,885,674 |   |                                          |   | 4.75 |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Fredric      W. Rittereiser (5)                                                                                                                                  |   |                                  |        5,433     |   |                                          |   | * |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Arnold      Staloff (6)                                                                                                                                          |   |                                  |        4,333     |   |                                          |   | * |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| Lixiang      Zhang                                                                                                                                               |   |                                  |        0         |   |                                          |   | — |   |
|                                                                                                                                                             |   |                                  |                  |   |                                          |   |   |   |
| All      officers and directors as a group (11 persons)                                                                                                          |   |                                  | 11,469,390            |   |                                          |   | 28.89 | % |

----

| * | Less      than 1 percent |
|---|--------------------------|

| (1) | Except      as otherwise indicated, the address of each beneficial owner is c/o      AgFeed, Suite A1001-1002, Tower 16, Hengmao International Center,      Nanchang, Jiangxi Province, China330003. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Beneficial      ownership has been determined in accordance with Rule 13d-3 under the      Exchange Act. Unless otherwise noted, we believe that all persons named in      the table have sole voting and investment power with respect to all shares      of common stock beneficially owned bythem. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | This      information is derived from Amendment No. 1 to Schedule 13D      filed jointly by Messrs. JunQing Xiong and Junhong Xiong, our chief      executive officer, on January 5, 2009.  Mr. JunQing Xiong has      sole voting and dispositive power with respect to 716,078 of these      shares.  Under the terms of an Irrevocable Proxy, dated December      2, 2008, Mr. Junhong Xiong maintains sole voting and dispositive power      with respect to the remaining 4,036,074 shares that were gifted to JunQing      Xiong until December 2, 2011.  All 4,752,152 are also the      subject of a Lock-Up Agreement with AgFeed that remains in effect until      October 6, 2009. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | This      information is derived from Schedule 13G filed jointly by Enable      Capital Management, LLC, Enable Growth Partners, L.P. and Mitchell S.      Levine on January 8, 2009.  2,285,720 shares are beneficially      owned by Enable Capital Management by or for the benefit of Enable Growth      Partners.  An additional 1,600,004 shares are issuable under      warrants that are exercisable within 60 days of May 1,      2009.  Enable Capital Management is the general partner and      investment manager of Enable Growth Partners.  Mr. Levine is the      managing member and majority owner of Enable Capital      Management.  Each of the parties has sole voting and dispositive      power with respect to the shares.  However, each of Enable      Capital Management and Mr. Levine disclaim beneficial ownership with      respect to the shares, except to the extent of its or his pecuniary      interests therein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Mr.      Rittereiser's address is 20 Maple Street, Toms River, NJ 08753      U.S.A.  The shares reported include 2,000 shares held by Mr.      Rittereiser's daughter.  Mr. Rittereiser disclaims beneficial      ownership of such shares.  The shares reported also include      3,333 shares issuable upon the exercise of currently exercisable options      granted to Mr. Rittereiser. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Mr.      Staloff's address is 1605 Mayflower Lane, Cherry Hill, NJ 08003      U.S.A.  The shares reported include 3,333 shares issuable upon      the exercise of currently exercisable options granted to Mr.      Staloff. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Plan category                                              |   | Number ofsecuritiesto be issueduponexercise ofoutstandingoptions,warrants andrights |    |   | Weightedaverageexerciseprice ofoutstandingoptions,warrants andrights |   |   | Number ofsecuritiesremainingavailable forfuture issuanceunder equitycompensationplans(excludingsecuritiesreflected incolumn (a) |   |
|-----------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------|---------|--------|--------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                            |   | (a)                                                                                                          |    |   | (b)                                                                            |   |   | (c)                                                                                                                                                           |   |
| Equity      compensation plans approved by security holders     |   |                                                                                                         | 160,000 |   |                                                                           | $      | 9.32   |                                                                                                                                                          |   |   | 840,000 |   |
|                                                            |   |                                                                                                         |    |   |                                                                           |   |   |                                                                                                                                                          |   |   |   |   |
| Equity      compensation plans not approved by security holders |   |                                                                                                         | 20,000  |   |                                                                           | $      | 8.85   |                                                                                                                                                          |   |   | 0 |   |
|                                                            |   |                                                                                                         |    |   |                                                                           |   |   |                                                                                                                                                          |   |   |   |   |
| Total                                                           |   |                                                                                                         | 180,000 |   |                                                                           | $      | 9.27   |                                                                                                                                                          |   |   | 840,000 |   |

----

|                                                |   | 2008   |    |   | 2007   |   |
|-----------------------------------------------------|--------|--------|---------|--------|--------|--------|
| Audit      Fees (including 404 audit fees for 2008) |   | $      | 304,000 |   |   | $      | 165,000 |   |
| Audit-Related      Fees                             |   | $      | 10,000  |   |   | $      | 5,800 |   |
|                                                |   |   |    |   |   |   |   |   |
| Total                                               |   | $      | 314,000 |   |   | $      | 170,800 |   |

----

----

|   |   |   AgFeed      Industries Inc.               |
|--------|--------|-------------------------------------------------------|
|   |   |                                                  |
|   |   |                                                  |
|   | By:    | /s/ Junhong Xiong                                     |
|   |   |         Junhong Xiong                       |
|   |   |         Chief Executive Officer, President, |
|   |   |         Director and Vice Chairman          |

| Signature                   |   | Title                                                                                             |   | Date                  |
|-----------------------------|--------|---------------------------------------------------------------------------------------------------|--------|-----------------------|
|                        |   |                                                                                              |   |                  |
| /s/ Junhong Xiong           |   | Director, President, Chief Executive Officer and Vice Chairman |   | May 5, 2009 |
| Junhong Xiong          |   |                                                                                         |   |             |
|                   |   |                                                                                         |   |             |
| /s/ Selina Jin    |   | Chief Financial Officer and Chief Accounting Officer                |   | May 5, 2009 |
| Selina Jin             |   |                                                                                              |   |                  |
|                        |   |                                                                                              |   |                  |
|    *         |   | Chairman      of the Board and Director                                                           |   | May      5, 2009      |
| Songyan      Li             |   |                                                                                              |   |                  |
|                        |   |                                                                                              |   |                  |
|    *         |   | Director                                                                                          |   | May      5, 2009      |
| Lixiang      Zhang          |   |                                                                                              |   |                  |
|                        |   |                                                                                              |   |                  |
|    *         |   | Director                                                                                          |   | May      5, 2009      |
| Fredric      W. Rittereiser |   |                                                                                              |   |                  |
|                        |   |                                                                                              |   |                  |
|    *         |   | Director                                                                                          |   | May      5, 2009      |
| Arnold      Staloff         |   |                                                                                              |   |                  |

|        * By: | /s/ Junhong Xiong                  |   |
|-------------------|------------------------------------|--------|
|              | Junhong      XiongAttorney-in-fact |   |

----

| Exhibit No. |   | Description                                                                                                                                                                                                                                                                                                                                                                                                      |
|-------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 2.1         |   | Share      Purchase Agreement with Nanchang Best and each of Nanchang Best’s      shareholders (incorporated by reference to Exhibit 2.1 of AgFeed's Current      Report on Form 8-K (Commission File No. 001-33674) filed with the SEC on      November 6, 2006)                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 2.2         |   | Share      Purchase Agreement with Shanghai Best and each of Shanghai Best’s      shareholders (incorporated by reference to Exhibit 2.2 of AgFeed's Current      Report on Form 8-K (Commission File No. 001-33674) filed with the SEC on      November 6, 2006)                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3(i).1      |   | Articles      of Incorporation (incorporated by reference to Exhibit 3.1 of AgFeed's      Registration Statement on Form SB-2 (Commission File No. 333-126674) filed      with the SEC on July 18, 2005)                                                                                                                                                                                                         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3(i).2      |   | Articles      of Merger dated November 14, 2006 pursuant to which AgFeed Industries,      Inc. was merged into Wallace Mountain Resources Corp. and the name of the      surviving entity was changed to AgFeed Industries, Inc. (incorporated by      reference to Exhibit 3.3 of AgFeed's Registration Statement on Form SB-2      (Commission File No. 333-144131), filed with the SEC on June 28,      2007) |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 3(ii).1     |   | Amended      and Restated Bylaws (incorporated by reference to Exhibit 3.2 of AgFeed's      Current Report on Form 8-K (Commission File No. 001-33674) filed with the      SEC on May 15, 2007)                                                                                                                                                                                                                  |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.1         |   | Specimen      common stock certificate (incorporated by reference to Exhibit 4 of      AgFeed's Annual Report on Form 10-KSB (Commission File No. 001-33674)      filed with the SEC on March 13, 2007)                                                                                                                                                                                                          |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.2         |   | Form      of Common Stock Purchase Warrant forming part of units sold, and also      issued as compensation to selected dealers in our private placement      offering that had a final closing in April 2007 (incorporated by reference      to Exhibit 4.2 of AgFeed's Amended Registration Statement on Form SB-2      (Commission File No. 333-144131) filed with the SEC on August 17,      2007)           |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.3         |   | Form      of Registration Rights Agreements dated February 2007 (incorporated by      reference to Exhibit 4.3 of AgFeed's Amended Registration Statement on      Form SB-2 (Commission File No. 333-144131) filed with the SEC on August      17, 2007)                                                                                                                                                         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.4         |   | Form      of Common Stock Purchase Warrant forming part of units sold and also      issued as compensation to selected dealers in our June 2007 private      placement offering (incorporated by reference to Exhibit 4.4 of AgFeed's      Registration Statement on Form SB-2 (Commission File No. 333-144131) filed      with the SEC on June 28, 2007)                                                        |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 4.5         |   | Registration      Rights Agreement dated as of June 22, 2007 by and between AgFeed and      Apollo Asia Opportunity Master Fund, L.P. (incorporated by reference to      Exhibit 4.5 of AgFeed's Registration Statement on Form SB-2 (Commission      File No. 333-144131) filed with the SEC on June 28,  2007)                                                                                                 |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.1        |   | Share      Purchase Agreement dated December 20, 2006 among AgFeed, Guangxi Huijie      and the shareholders of Guangxi Huijie (incorporated by reference to      Exhibit 10.1 of AgFeed's Current Report on Form 8-K (Commission File No.      001-33674) filed with the SEC on December 20, 2006)                                                                                                              |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.2        |   | Promissory      Note of AgFeed payable to order of Sunrise Capital International, Inc. in      the amount of 8,600,000 RMB (incorporated by reference to Exhibit 10.2 of      AgFeed's Current Report on Form 8-K (Commission File No. 001-33674) filed      with the SEC on December 26, 2006)                                                                                                                  |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.3        |   | Form      of Subscription Package for private placement offering that had final      closing on April 29, 2007 (incorporated by reference to Exhibit 10.5 of      AgFeed's Amended Registration Statement on Form SB-2 (Commission File No.      333-144131) filed with the SEC on August 17, 2007)                                                                                                              |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                             |
| 10.4        |   | Subscription      Agreement by and between AgFeed and Apollo Asia Opportunity Master Fund,      L.P. dated June 22, 2007 (incorporated by reference to Exhibit 10.6 of      AgFeed's Amended Registration Statement on Form SB-2 (Commission File No.      333-144131) filed with the SEC on August 17,  2007)                                                                                                   |

----

| 10.5   |   | Stock      Purchase Agreement as of November 6, 2007 by and among AgFeed, Lushan and      Huaping Yang and Hongyun Luo, being the holders of ninety percent of the      issued and outstanding shares of Lushan (incorporated by reference to      Exhibit 10.1 of AgFeed's Current Report on Form 8-K (Commission File No.      001-33674) filed with the SEC on November 9, 2007) |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.6   |   | Securities      Purchase Agreement, dated February 25, 2008, by and among Agfeed and the      certain investors listed on the Schedule of Buyers to such Securities      Purchase Agreement (incorporated by reference to Exhibit 10.1 of AgFeed's      Current Report on Form 8-K (Commission File No. 001-33674) filed with the      SEC on February 28, 2008)                    |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.7   |   | Form      of Registration Rights Agreement dated February 2008 (incorporated by      reference to Exhibit 10.2 of AgFeed's Current Report on Form 8-K      (Commission File No. 001-33674) filed with the SEC on February 28,      2008)                                                                                                                                            |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.8   |   | Form      of Senior Convertible Note dated February 2008 (incorporated by reference      to Exhibit 10.3 of AgFeed's Current Report on Form 8-K (Commission File      No. 001-33674) filed with the SEC on February 28, 2008)                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.9   |   | Form      of Warrant dated February 2008 (incorporated by reference to Exhibit 10.4      of AgFeed's Current Report on Form 8-K (Commission File No. 001-33674)      filed with the SEC on February 28, 2008)                                                                                                                                                                       |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.10  |   | Equity      Securities Purchase Agreement, dated February 25, 2008, by and among      Agfeed and the certain investors listed on the Exhibit A to such Equity      Securities Purchase Agreement (incorporated by reference to Exhibit 10.5      of AgFeed's Current Report on Form 8-K (Commission File No. 001-33674)      filed with the SEC on February 28, 2008)               |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.11  |   | Securities      Purchase Agreement, dated April 16, 2008, by and between AgFeed and      certain investors named on Exhibit A thereto (incorporated by      reference to Exhibit 10.13 of AgFeed's Current Report on Form 8-K      (Commission File No. 001-33674) filed with the SEC on April 22,      2008)                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.12  |   | Securities      Purchase Agreement, dated April 22, 2008, by and between AgFeed and      certain investors named on Exhibit A thereto (incorporated by      reference to Exhibit 10.14 of AgFeed's Current Report on Form 8-K      (Commission File No. 001-33674) filed with the SEC on April 29,      2008)                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.13  |   | Securities      Purchase Agreement, dated April 22, 2008, by and between AgFeed and      certain investors named on Exhibit A thereto (incorporated by      reference to Exhibit 10.15 of AgFeed's Current Report on Form 8-K      (Commission File No. 001-33674) filed with the SEC on April 29,      2008)                                                                  |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.14  |   | Employment      Agreement, dated as of the 19th      day of August, 2008, by and between Nanchang Best Animal Husbandry Co.,      Ltd. and Gerard Daignault (incorporated by reference to Exhibit 10.16 of      AgFeed's Current Report on Form 8-K (Commission File No. 001-33674) filed      with the SEC on August 20, 2008)                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.15  |   | AgFeed      Industries, Inc. 2008 Long-Term Incentive Plan (incorporated by reference      to Appendix A of AgFeed's Definitive Proxy Statement filed with the      SEC on April 29, 2008 (Commission File No. 001-33674))                                                                                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.16  |   | Securities      Purchase Agreement, dated as of December 28, 2008, by and between AgFeed      and each of certain Investors (incorporated by reference to Exhibit 10.18      of AgFeed's Current Report on Form 8-K (Commission File No. 001-33674)      filed with the SEC on January 9, 2009)                                                                                     |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 10.17  |   | Form      of Common Stock Purchase Warrant, dated December 31, 2008 (incorporated by      reference to Exhibit 10.19 of AgFeed's Current Report on Form 8-K      (Commission File No. 001-33674) filed with the SEC on January 9,      2009)                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 21.1   |   | List      of Subsidiaries (incorporated by reference to Exhibit 21.1 of AgFeed's      Annual Report on Form 10-K filed with the SEC on March 16, 2009 (the      "Original 2008 10-K") (Commission File No. 001-33674))                                                                                                                                                              |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 23.1   |   | Consent      of Goldman Parks Kurland Mohidin, LLP, independent registered public      accounting firm.                                                                                                                                                                                                                                                                        |
|   |   |                                                                                                                                                                                                                                                                                                                                                                                |
| 24.1   |   | Power      of Attorney (included in signature page of the Original 2008 10-K and      incorporated by referenceherein)                                                                                                                                                                                                                                                              |

----

| 31.1   |   | Certification      of the Company’s Chief Executive Officer Pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                              |
| 31.2   |   | Certification      of the Company’s Chief Financial Officer Pursuant to Section 302 of the      Sarbanes-Oxley Act of 2002. |
|   |   |                                                                                                                              |
| 32.1   |   | Certification      of the Company’s Chief Executive Officer Pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |
|   |   |                                                                                                                              |
| 32.2   |   | Certification      of the Company’s Chief Financial Officer Pursuant to Section 906 of the      Sarbanes-Oxley Act of 2002. |

----