Unassociated Document


    Exhibit
4.9

    


    Asian
Financial, Inc.

    4/F, No.
3 Jinyuan Road

    Daxing
District Industrial Development Zone

    Beijing,
102600 China

    


    


    October
26, 2007

    


    [Investor
address]

    


    Re:
Investor Warrants Proposal Supplemental Letter

    


    Dear
Investors:

    


    We refer
to our letter to you dated September 20, 2007 relating to the Registration
Rights Agreement dated October 24, 2006, by and among Asian Financial, Inc. (the
“Company” or “we”) and the investors (the “Investors”) and our incurrence of
maximum penalty related to various Events as defined in the Registration Rights
Agreement, including but not limited to the delay in causing the registration
statement covering Investor shares to be filed and declared
effective.

    


    As stated
in our earlier letter, we calculated that we had incurred $1,883,935.96 in cash
penalties payable to the Investors and we offered two proposals for your
consideration. You have the options either to receive cash penalty in the amount
of $_______ or our warrant proposal, which will give you warrants to purchase
_________ shares of the Company in lieu of cash. As stated in our earlier
letter, warrants proposal offers a significant value proposition to you. For
those investors electing the warrant options, please provide a statement in the
form attached to this supplemental letter, even if you have sent an election
notice to the Company before. If you are making the election now, please use the
statement attached to this supplemental letter.

    


    Please
call Gene Bennett, our CFO, at 8610-6021-2222 ext 215 should you wish to discuss
these two options. Please fax back to Gene Bennett at 8610-6021-2164 if you
elect to sign the statement attached hereto.

    


    Thank
you!

    
      
        
          	 	 	 
	 	 ASIAN
      FINANCIAL, INC	 
	
                   

                	
                  By:
      

                	 	 
	 	Name: 
      	Wenhua
      Guo	 
	 	Title:
      	Chief
      Executive Officer	 
	 	 	 	 


        

      

    

    


    Attached:
Asian Financial Penalty Election

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Election
and Statement to Receive Warrant Penalty

    


    Pursuant
to the above Investor Warrants Proposal Supplemental Letter, the undersigned
hereby elects to receive the penalty payment in warrants to purchase ________
shares of Asian Financial, Inc. Upon the receipt of the warrants, the
undersigned hereby expressly acknowledges and agrees that the Company has
satisfied in full its obligations under the penalty provisions in the
Registration Rights Agreement and that the undersigned irrevocably waives any
further claim to request such penalty payment from the Company. The undersigned
further acknowledges that such warrants and shares of common stock issued or
issuable upon the exercise of the warrants are not registered under the
Securities Act of 1933, as amended, are restricted securities and can
only be
transferred if they are registered or exempt from the registration requirement.
The undersigned’s representations in Section 3.2 of the Securities Purchase
Agreement among the Company and the undersigned dated October 24, 2006 are true
and correct as of the date hereof.

    
      
        
          
            
              
                
                  
                    
                      
                        	 	 	 
	 	[Investor]	 
	 	 	 	 
	 	 	 	 
	
                                 

                              	
                                By:
      

                              	 	 
	 	Name: 
      	 	 
	 	Title:	 	 
	 	Date:
      	 	 


                      

                    

                  

                

              

            

          

        

      



    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      Election
to Receive Cash Penalty

      


      Pursuant
to the above Investor Warrants Proposal Supplemental Letter, we hereby elect to
receive the penalty payment in cash in the amount of $______.

      
         

        
          
            
              
                
                  
                    
                      
                        
                          
                            	 	 	 
	 	[Investor]	 
	 	 	 	 
	 	 	 	 
	
                                     

                                  	
                                    By:
      

                                  	 	 
	 	Name: 
      	 	 
	 	Title:	 	 
	 	Date: