Document:

Exhibit 10.39

                            Share Transfer Agreement

      This  Share  Transfer   Agreement   (hereinafter   referred  to  as  "This
Agreement") is made on December 31, 2005 in Tai'an City, Shandong Province,  the
People's Republic of China (hereinafter referred to as "PRC")

BETWEEN:
      THE ASSIGNOR:  Singapore Eastern  Nanomaterials  Holdings Pte (hereinafter
referred to as the "Party  A"), a company of limited  liability  registered  and
founded under the laws of Singapore.

      Registered office: Singapore
      Legal Person: Chen Xiangzhi
AND
      THE ASSIGNEE:  Faith Bloom Limited (hereinafter referred to as "Party B"),
a company of limited liability  registered and founded under the laws of British
Virgin Islands.
      Registered office: British Virgin Islands
      Authorized representative: Zhang Xueyi

      WHEREAS:

      1.  Shandong  Bangsheng  Chemical  Co.,  Ltd  (hereinafter  referred to as
"Bangsheng Chemical") is a company duly organized,  validly existing and in good
standing as a wholly foreign funded enterprise under the laws of the P.R.C, with
its  registered  office at No. 342,  Lingshan  Street,  Tai'an City,  registered
capital RMB 24,500,000 yuan.

      2. Party A legally owned 100%  registered  capital of Bangsheng  Chemical,
that is, RMB 24,500,000 yuan.

                                       1
<PAGE>

      3. Party A intends to transfer  the 100%  registered  capital of Bangsheng
Chemical  owned by Party A to Party B. ("Share  transfer",  the 100%  registered
capital  of  Bangsheng   Chemical  and  all  relevant   rights,   interests  and
obligations). Party B intends to accept the shares. After the completion date of
the  shares  transfer,  Party B will  possess  the 100%  registered  capital  of
Bangsheng Chemical.

      4. Through friendly consultation,  both parties jointly agree to cooperate
and promote the sale and purchase of shares smoothly.

Regarding  the sale and  purchase of shares,  both Party A and Party B enjoy the
rights and assume the  obligations  thereunder,  and enter into the agreement as
follows:

Article 1 Shares Transfer

      1.    According  to  provisions  of  this  Agreement,  Party A  agrees  to
            transfer the shares owned by Party A to Party B after the completion
            date of the shares transfer.
      2.    Party B agrees to accept the shares transferred by Party A according
            to the stipulations of this Agreement.
      3.    Upon the Agreement becoming effective,  Party B would be entitled to
            exercise  the  rights  of the  shareholders  as well  as  take  full
            obligations.  Party A shall not  enjoy any  rights  and  assume  any
            obligations and responsibilities relating to the transferred shares,
            unless this Agreement otherwise stipulates.

Article 2 Price of the Shares and Payment Terms

      1.    Party A and  Party B  jointly  confirm  that  Party  B  accepts  the
            consideration of transferred  shares in this Agreement,  and Party B
            pays Party A in cash. The consideration of transferred shares is USD
            3,035,600.00 after consultation between Party A and Party B.

                                       2
<PAGE>

      2.    After the completion  date of shares  transfer,  Party B invests RMB
            24,500,000  yuan,  and  will  possess  100%  registered  capital  of
            Bangsheng  Chemical.  Party A will not own any  shares of  Bangsheng
            Chemical.
      3.    Party A and Party B  jointly  agree  that  Party B shall pay in full
            within  [ ] days to  Party B after  the  completion  date of  shares
            transfer.

Article 3 Representations, Warranties and Undertakings of Party A

Party A hereby represents, warrants and undertakes to Party B as follows:

      1.    Party A has full power and  authority  to enter into this  Agreement
            and perform all rights and obligations of this  Agreement,  and this
            Agreement constitutes valid and binding obligations on it.

      2.    Party A legally owns the Transferred Shares, as well as the right to
            deal with all or any part of the shares  entirely  and  effectively;
            and that prior to any transfer it will obtain all necessary consents
            such that the Shares can be  transferred to Party B at the effective
            time of the transfer,  free and clear of all liens and  encumbrances
            whatsoever.
      3.    There is no fact not disclosed to Party B by Party A that is related
            to the transfer of assets,  and may affect the establishment of this
            Agreement and will change the original  meaning of any terms of this
            Agreement once being disclosed.
      4.    Party A shall deal with other  matters that this  Agreement  has not
            stipulated  according to the laws and  regulations  of Singapore and
            the P.R.C along with Party B.

                                       3
<PAGE>

Article 4 Representations, Warranties and Undertakings of Party B

Party B hereby represents, warrants and undertakes to Party A as follows:

      1.    Party B has full power and  authority  to enter into this  Agreement
            and perform all rights and obligations of this  Agreement,  and this
            Agreement constitutes valid and binding obligations on it.
      2.    Party  B  agrees  that  he  shall  pay  the   consideration  of  the
            transferred shares to Party A in full on time.
      3.    Party B shall deal with other  matters that this  Agreement  has not
            stipulated  according to the laws and regulations of the P.R.C along
            with Party A.

Article 5 The Completion Date of Shares Transfer

The shares transfer should be completed on the date that all following terms and
conditions fulfilled. The date is the completion date.

      1.    This Agreement is signed by the authorized  representatives of Party
            A and Party B.
      2.    The Shares  transfer  of this  Agreement  is approved by the general
            meeting of shareholders and Board of directors of Party A.
      3.    This  Agreement is approved by the authority of Bangsheng  Chemical,
            the contents of the approval shall include:
            (1)   The approval to this agreement and relevant matters;
            (2)   Fully  authorize  and let the  General  Manager  of  Bangsheng
                  Chemical  handle  the  shares  transfer  matters  and apply to
                  relevant  Administration for Industry and Commerce and Foreign
                  Investment Administration.
      4.    The  shares  transfer  under this  Agreement  has been  approved  by
            Foreign  Investment   Administration  and  finished  the  change  of
            Industrial and Commercial Registration.

                                       4
<PAGE>

Article 6  Confidentiality

Except as  otherwise  stipulated  in  relevant  laws,  regulations,  articles of
association of Bangsheng Chemical, or there are other written agreements between
the two parties of this Agreement, no party herein shall, without the consent of
the other party,  disclose to any third party any  information  included in this
Agreement before the completion of shares transfer under this Agreement.

Article 7  Miscellaneous

Both Parties  mutually agree that anything not covered in this Agreement will be
friendly discussed separately by both parties, and supplemental agreements shall
be  established  before the  completion  date of shares  transfer.  Supplemental
agreements shall be inseparate parts of this Agreement.

Article 8 Liabilities for Breach of this Agreement

Should either Party A or Party B breach any clause, or break any representation,
warranty  or  undertaking  made in this  Agreement,  the party in  breach  shall
compensate  the  observant  party for all the  losses,  including  but not being
limited to the fees paid,  or the  expenses  spent by the  observant  party as a
direct or indirect result of the breach of this agreement by the party in breach
(including but not being limited to reasonable  court fees,  arbitration fee and
attorney fees etc paid by the other party).

                                       5
<PAGE>

Article 9  Settlement of Disputes

      1. Any disputes  arising from the execution of, or in connection with this
Agreement shall be settled  through  friendly  negotiation  between both parties
hereto.  In case no  settlement  to  disputes  can be reached  through  friendly
negotiation, the disputes shall be submitted to arbitration.
      2. Any disputes  arising from the execution of, or in connection with this
Agreement  shall  be  submitted  to  China  International   Economic  and  Trade
Arbitration  Commission for arbitration in accordance with the Arbitration Rules
and the  Procedures for the said  Commission.  The arbitral award shall be final
and binding upon both parties. The arbitration shall be done in Beijing, China.
      3. As  stipulated  by relevant  laws,  if any clause of this  Agreement is
declared  invalid by the  arbitral  tribunal,  it shall in no manner  affect the
validity and performance of other clauses of this Agreement.

Article 10 Applicable Law

The formation, validity, interpretation, execution and settlement of disputes in
respect of this Agreement shall be governed by the relevant laws of the PRC.

Article 11 Rights

Not being  agreed by the other party in writing,  any party  should not transfer
the  rights  enjoyed  according  to this  Agreement.  Each  party's  successors,
authorized assignees are bound to this Agreement.

Article 12  Force Majeure

1. Force majeure  means any  unforeseeable  events  beyond the parties'  control
which prevent the  performance of any  obligation  under this  Agreement.  Force
majeure includes,  but is not limited to,  earthquake,  typhoon,  flood, fire or
other natural disasters, war, riots, strike or any other similar incident.

                                       6
<PAGE>

2. Should either of the parties to this  Agreement be prevented  from  executing
the Agreement by Force majeure, the prevented party shall notify the other party
by the quickest means without any delay,  and within 15 days thereafter  provide
detailed  information of the events and a valid document for evidence explaining
the reason of its  inability to execute or delay the execution of all or part of
the Agreement.  Both parties  shall,  through  consultations,  decide whether to
terminate the contract or to delay the execution of the contract.

Article 13  Text

This Agreement is made in sextuplicate in Chinese, and each Party shall keep two
copies.  The other two copies are for handling approval and change of Industrial
and Commercial Registration.

Every  original  copy has  equal  legal  effect.  This  Agreement  shall  become
effective from the date that Party A and Party B signed and relevant Authorities
approved this Agreement.

                               PAGE FOR SIGNATURES
                             [No text on this page]

Party A: Eastern Nanomaterials Holdings Pte Ltd

   Authorized Representative: /s/ Xiangzhi Chen
                             ------------------

                                       7
<PAGE>

   Party B: Faith Bloom Limited

   Authorized Representative: /s/ Zhang Xueyi
                             -------------------

                                       8Exhibit 10.40

                            Share Transfer Agreement

      This  Share  Transfer   Agreement   (hereinafter   referred  to  as  "This
Agreement") is made on December 31 , 2005 in Tai'an City, Shandong Province, the
People's Republic of China (hereinafter referred to as "PRC")

BETWEEN:

      THE ASSIGNOR:  Singapore Eastern  Nanomaterials  Holdings Pte (hereinafter
referred to as the "Party A"), is legally registered under the laws of Singapore
      Registered office: Singapore
      Legal Person: Chen Xiangzhi
AND

      THE ASSIGNEE:  Faith Bloom Limited (hereinafter referred to as "Party B"),
is registered under the laws of British Virgin Islands.
      Registered office: British Virgin Islands
      Authorized representative: Zhang Xueyi

      WHEREAS:

      1.  Shandong  Haize  Nanomaterials  Co., Ltd  (hereinafter  referred to as
"Haize Nanomaterials") is a company duly organized, validly existing and in good
standing as a wholly foreign funded enterprise under the laws of the P.R.C, with
its registered office at Tai'an Youth Development Zone,  registered  capital RMB
46,530,000 yuan.
      2. Party A legally owned 100% registered  capital of Haize  Nanomaterials,
that is RMB 46,530,000 yuan.
      3.  Party A intends  to  transfer  the 100%  registered  capital  of Haize
Nanomaterials owned by Party A to Party B. ("Share transfer" the 100% registered
capital  of  Haize   Nanomaterials  and  all  relevant  rights,   interests  and
obligations). Party B intends to accept the shares. After the completion date of
the shares transfer,  Party B will possess the 100% registered  capital of Haize
Nanomaterials.

                                       1
<PAGE>

      4. Through friendly consultation, both parties jointly agreed to cooperate
and promote the sale and purchase of shares smoothly.

      Regarding the sale and purchase of shares,  both Party A and Party B enjoy
the rights and assume the obligations  thereunder,  and enter into the agreement
as follows:

Article 1 Shares Transfer

      1.    According  to  provisions  of  this  Agreement,  Party A  agrees  to
            transfer the shares owned by Party A to Party B after the completion
            date of the shares transfer.
      2.    Party B agrees to accept the shares transferred by Party A according
            to the stipulations of this Agreement.
      3.    Upon the Agreement becoming effective,  Party B would be entitled to
            exercise  the  rights  of the  shareholders  as well  as  take  full
            obligations.  Party A shall not  enjoy any  rights  and  assume  any
            obligations and responsibilities relating to the transferred shares,
            unless this Agreement otherwise stipulates.

Article 2 Price of the Shares and Payment Terms

      1.    Party A and  Party B  jointly  confirm  that  Party  B  accepts  the
            consideration of transferred  shares in This Agreement,  and Party B
            pays Party A in cash. The consideration of transferred shares is USD
            5,765,200 after consultation between Party A and Party B.

                                       2
<PAGE>

      2.    After the completion  date of shares  transfer,  Party B invests RMB
            46,530,000  yuan, and will possess 100% registered  capital of Haize
            Nanomaterials.   Party  A  will   not  own  any   shares   of  Haize
            Nanomaterials.
      3.    Party A and Party B  jointly  agree  that  Party B shall pay in full
            within  [30]  days to Party B after  the  completion  date of shares
            transfer.

Article 3 Representations, Warranties and Undertakings of Party A Party A hereby
represents warrants and undertakes that:

      1.    Party A has full power and  authority  to enter into this  Agreement
            and perform all rights and obligations to this  Agreement,  and this
            Agreement constitutes valid and binding obligations on it.
      2.    Party A represents  and warrants to Party B that it legally owns the
            Transferred  Shares,  as w ell as the  right to deal with all or any
            part of the shares entirely and  effectively;  and that prior to any
            transfer it will obtain all necessary  consents such that the Shares
            can be transferred to Party B at the effective time of the transfer,
            free and clear of all liens and encumbrances whatsoever.
      3.    There are no original  meaning  changes of this Agreement  regarding
            Haize  Nanomaterials which will effect the signing of this Agreement
            that will not disclose to Party B.
      4.    Party A shall deal with other  matters that this  Agreement  has not
            stipulated  according to the laws and  regulations  of Singapore and
            the P.R.C along with Party B.

Article 4 Representations, Warranties and Undertakings of Party B Party B hereby
represents, warrants and undertakes that:

      1.    Party B has full power and  authority  to enter into this  Agreement
            and perform all rights and obligations to this  Agreement,  and this
            Agreement constitutes valid and binding obligations on it.

                                       3
<PAGE>

      2.    Party  B  agrees  that  he  shall  pay  the   consideration  of  the
            transferred shares to Party A in full on time.
      3.    Party B shall deal with other  matters that this  Agreement  has not
            stipulated  according to the laws and regulations of the P.R.C along
            with Party A.

Article 5 the Completion Date of Shares Transfer

The shares transfer should be completed on the date that all following terms and
conditions fulfilled. The date is the completion date.

      1.    This Agreement is signed by the authorized  representatives of Party
            A and Party B.
      2.    The  Shares   transfer  of  this   Agreement   is  approved  by  the
            Shareholders meeting and Board of directors of Party A.
      3.    This Agreement is approved the authority of Haize Nanomaterials, the
            contents shall include:
            (1)   The approval to this agreement and relevant matters;
            (2)   Fully   authorize  and  let  the  General   Manager  of  Haize
                  Nanomaterials  handle the shares transfer matters and apply to
                  relevant  Administration  for Industry and  Commerce,  Foreign
                  Investment Administration.
      4.    The shares  transfer to this  Agreement has been approved by Foreign
            Investment  Administration and finished the change of Industrial and
            Commercial Registration.

Article 6  Confidentiality

No party herein shall  disclose to any third party any  information  included in
the Agreement. In case any information is released and results in damages to the
benefits of the Company or the other party, the party whose  confidentiality  is
breached has the right to terminate the  Agreement,  as well as to  compensation
due to the breach of the confidentiality obligation.

                                       4
<PAGE>

Article 7  Miscellaneous

Both Parties  mutually agree that anything not covered in this Agreement will be
friendly discussed separately by both parties, and supplemental agreements shall
be  established  before the  completion  date of shares  transfer.  Supplemental
agreements shall be inseparate parts of this Agreement.

Article 8 Liabilities for Breach of this Agreement

Should either Party A or Party B breach any clause, or break any representation,
warranty  or  undertaking  made in this  Agreement,  the party in  breach  shall
compensate  the  observant  party for all the  losses,  including  but not being
limited to the fees paid,  or the  expenses  spent by the  observant  party as a
direct or indirect result of the breach of this agreement by the party in breach
(including but not being limited to reasonable court fees,  arbitration fees and
attorney fees etc paid by the other party).

Article 9  Settlement of Disputes

      1. Any disputes  arising from the execution of, or in connection with this
Agreement shall be settled  through  friendly  negotiation  between both parties
hereto.  In case no  settlement  to  disputes  can be reached  through  friendly
negotiation, the disputes shall be submitted to the Arbitration.
      2. Any disputes  arising from the execution  of,or in connection with this
Agreement  shall be  submitted  to the China  International  Economic  and Trade
Arbitration  Commission for arbitration in accordance with the Arbitration Rules
and the  Procedures  for the said  Commission.  The arbitral  award is final and
binding upon both parties. Arbitration location is Beijing.

                                       5
<PAGE>

      3. If any clause of this Agreement is invalid according to arbitration, it
shall in no manner affect performance of other clauses of this Agreement.

Article 10 Applicable Law

      The  formation,  validity,  interpretation,  execution  and  settlement of
disputes in respect of this Agreement  shall be governed by the relevant laws of
the PRC.

Article 11 Rights

      Not being  agreed by the other  party in  writing,  any party  should  not
transfer  the  rights  enjoyed   according  to  this  Agreement.   Each  party's
successors, authorized assignees are bound to this Agreement.

Article 12  Force Majeure

1. Force majeure  means any  unforeseeable  events  beyond the parties'  control
which prevent the  performance of any  obligation  under this  Agreement.  Force
majeure includes, but is not limited to, earthquake,  typhoon,  flood, war, acts
of Gods, strike, riots etc(pound)(R)
2. Should either of the parties to this  Agreement be prevented  from  executing
the Agreement by Force majeure, the prevented party shall notify the other party
by telegram  without any delay,  and within 15 days thereafter  provide detailed
information  of the  events  and a valid  document  for  evidence  issued by the
relevant  public notary  organization  explaining the reason of its inability to
execute or delay the  execution  of all or part of the  Agreement.  Both parties
shall,  through  consultations,  decide  whether to terminate the contract or to
exempt part of the obligations for  implementation of the contract or whether to
delay the  execution of the  contract  according to the effects of the events on
the performance of the contract.

                                       6
<PAGE>

Article 13  Text

      This Agreement is made in  sextuplicate  in Chinese,  and each Party shall
keep two copies.  The other two copies are for  handling  approval and change of
Industrial and Commercial Registration.
      Every original copy is equally valid.  This  Agreement  becomes  effective
from the date that Party A and Party B signed and relevant  Authorities approved
this Agreement.

                                       7
<PAGE>

   Party A: Eastern Nanomaterials Holdings Pte Ltd

   Authorized Representative: /s/ Xiangzhi Chen
                             ------------------

   Party B: Faith Bloom Limited

   Authorized Representative: /s/ Zhang Xueyi
                             -------------------

                                       8

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