Document:

Unassociated Document

    EXHIBIT
      E

    

    HOLDBACK
      ESCROW AGREEMENT

    

    This
      Holdback Escrow Agreement, dated as of March 12, 2008 (this “Agreement”),
      is
entered
      into by and among First
      Growth Investors, Inc., a Nevada corporation
      (the
“Company”),
      the
      investors set forth on Exhibit
      A
      and
      signatory hereto (collectively, the “Investors”),
      and
Tri-State
      Title & Escrow, LLC
      (the
“Escrow
      Agent”).

     

    WITNESSETH:
      

     

    WHEREAS,
      the Company proposes
      to make a private offering to the Investors
      (the
“Offering”)
      of the
      Company’s common stock, par value $0.001 per share pursuant
      to that
      certain Securities Purchase Agreement, dated as of the date hereof, by and
      among
      the Company, the Investors and certain other parties signatory thereto
      (the
      “Securities
      Purchase Agreement”),
      in an
      aggregate amount of approximately Twenty One Million Dollars ($21,000,000)
      (capitalized
      terms used but not otherwise defined herein shall have the respective meanings
      given to such terms in the Securities Purchase Agreement);

     

    WHEREAS,
      pursuant to the Securities Purchase Agreement and the Closing Escrow Agreement,
      the Company has agreed that an aggregate of $1,750,000 of the aggregate
      Investment Amounts paid by Investors to the escrow account established in
      accordance with the Closing Escrow Agreement (the “Escrowed
      Funds”),
      will
      be deposited at Closing with the Escrow Agent, to continue to be held in
escrow,
      administered and distributed as described in Section 4.14 of the Securities
      Purchase Agreement and in accordance with Section 3 of this
      Agreement;
      and

     

    WHEREAS,
      as a material inducement for the Investors to
      enter
      into the Securities Purchase Agreement and consummate the Closing, the Company
      and Escrow Agent have agreed to enter into this Agreement.

     

    NOW,
      THEREFORE, in consideration of the mutual promises herein contained and
      intending to be legally bound, the parties hereby agree as follows:

     

    1. Appointment
      of Escrow Agent.
      The
      Company hereby appoints Escrow Agent to act as escrow
      agent in accordance with the terms of this Agreement, and the Escrow
Agent
      hereby accepts such appointment.

     

    2.  Delivery
      of the Escrowed Funds.

     

    2.1 The
      Company hereby directs that the Escrowed
      Funds be delivered simultaneously with the Closing to the Escrow Agent’s account
      (the “Escrow
      Account”)
      as
      follows:

    

      
        	
                Bank
                  Name:

              	
                [  
                  ]

              
	
                Bank
                  Address:

              	
                [  
                  ]

              
	
                ABA
                  Number:

              	
                [  
                  ]

              
	
                Beneficiary:

              	
                [  
                  ]

              
	
                Beneficiary
                  A/C:

              	
                [  
                  ]

              
	
                Ultimate
                  beneficiary:

              	
                [  
                  ]

              
	
                Ultimate
                  A/C:

              	
                [  
                  ]

              
	
                Escrowed
                  Funds:

              	
                $1,750,000

              

      

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

    

     

    3. Escrow
      Agent to Hold and Disburse Escrowed Funds.
      Promptly following the Closing, the Escrow Agent will provide written notice
      to
      the Company (for simultaneous distribution to the Investors) that the Escrow
      Agent has received the entire amount of Escrowed Funds in the Escrow Account.
      The Escrow Agent will hold and
      disburse the Escrowed Funds received by it pursuant to the terms of this
      Agreement, as follows: 

     

    3.1 Board
      Holdback Escrow.
      Pursuant to Section 4.14(a) of the Securities Purchase Agreement, the Company
      has undertaken that no later than 180 days following the Closing Date, the
      Board
      of Directors of the Company shall be comprised of a minimum of five members
      (at
      least two of whom shall be fluent English speakers who possess
      experience such that he or she can fulfill its fiduciary obligations and other
      responsibilities as a director of
      a
      United States publicly listed company), a majority of which shall be
“independent directors” as such term is defined in NASDAQ Marketplace Rule
      4200(a)(15). Accordingly,
      $750,000
      (the
      “Board
      Holdback Escrow
      Amount”)
      of the
      Escrowed Funds is to be held in the Escrow Account subject to the satisfaction
      of the Company’s obligations under this Section 3.1 and Section 4.14(a) of the
      Securities Purchase Agreement and subject to the provisions of Section 4.14(d)
      of the Securities Purchase Agreement and Section 3.4 of this Agreement with
      respect to payment of partial liquidated damages to Investors from such amount.
      Upon the Company’s satisfaction of the aforesaid obligations in this Section 3.1
      and Section 4.14(a) of the Securities Purchase Agreement, the Company and
      Investors that have invested at least a majority of the total Investment Amount
      under the Purchase Agreement (a “Majority
      in Interest of the Investors”)
      shall
      execute and deliver written instructions with reference to this Section 3.1
      to
      release the Board Holdback Escrow Amount to the Company (“Instructions
      to Release Board Holdback”).
      Within one (1) Business Day following its receipt of Instructions to Release
      Board Holdback (with wire instructions attached) jointly executed by the Company
      and a Majority in Interest of the Investors, the Escrow Agent shall distribute
      the Board Holdback Escrow Amount, less any portion thereof previously required
      to be distributed to Investors as partial liquidated damages in accordance
      with
      Section 4.14(d) of the Securities Purchase Agreement and Section 3.4 of this
      Agreement, in accordance with such written instructions.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    3.2 CFO
      Holdback Escrow.
      Pursuant
      to Section 4.14(b) of the Securities Purchase Agreement, the Company has
      undertaken that
      no
      later than 180 days following the Closing Date, the Company will hire a
      full-time chief financial officer who has experience as the chief financial
      officer of a United States public reporting company and who is (i) a certified
      public accountant, (ii) fluent in English, and (iii) familiar with (x) GAAP
      and
      (y) auditing procedures and compliance for United States public companies (such
      a chief financial officer being referred to as a “Qualified
      CFO”).
      The
      Company shall enter into an employment agreement with the Qualified CFO for
      a
      term of no less than two years. Should the Qualified CFO be dismissed at any
      time prior to the later to occur of the second anniversary of (x) his or her
      employment agreement or (y) the Closing Date, then the Company shall replace
      the
      Qualified CFO with a chief financial officer who fits the criteria set forth
      herein as soon as practicable. By
      9:00
      a.m. (New York time) on the second Trading Day following the hiring of such
      Qualified CFO, the Company will file a Current Report on Form 8-K disclosing
      the
      information required by Item 5.02 of Form 8-K.
      Accordingly, $750,000
      (the
      “CFO
      Holdback Escrow
      Amount”)
      of the
      Escrowed Funds is to be held in the Escrow Account subject to the satisfaction
      of the Company’s obligations under this Section 3.2 and Section 4.14(b) of the
      Securities Purchase Agreement and subject to the provisions of Section 4.14(d)
      of the Securities Purchase Agreement and Section 3.4 of this Agreement with
      respect to payment of partial liquidated damages to Investors from such amount.
      Upon the Company’s satisfaction of the aforesaid obligations in this Section 3.2
      and Section 4.14(b) of the Securities Purchase Agreement, the Company and a
      Majority in Interest of the Investors shall execute and deliver written
      instructions with reference to this Section 3.2 to release the CFO Holdback
      Escrow Amount to the Company (“Instructions
      to Release CFO Holdback”).
      Within one (1) Business Day following its receipt of Instructions to Release
      CFO
      Holdback (with wire instructions attached) jointly executed by the Company
      and a
      Majority in Interest of the Investors, the Escrow Agent shall distribute the
      CFO
      Holdback Escrow Amount, less any portion thereof previously required to be
      distributed to Investors as partial liquidated damages in accordance with
      Section 4.14(d) of the Securities Purchase Agreement and Section 3.4 of this
      Agreement, in accordance with such written instructions.

     

    3.3 IR
      Holdback Escrow.
      Pursuant to Section 4.14(c) of the Securities Purchase Agreement, the Company
      has undertaken that
      no
      later than sixty (60) days following the Closing Date, the Company shall have
      hired either of CCG Elite, Hayden Communications, or Integrated Corporate
      Relations as it’s investor relations firm. Accordingly,
      $250,000
      (the
      “IR
      Holdback Escrow
      Amount”)
      of the
      Escrowed Funds is to be held in the Escrow Account subject to the satisfaction
      of the Company’s obligations under this Section 3.3 and Section 4.14(c) of the
      Securities Purchase Agreement. The
      IR
      Holdback Escrow Amount shall remain in the Escrow Account and shall only be
      released by the Escrow Agent to the Company upon the Escrow Agent’s receipt of
      written notice from the Company and a Majority in Interest of the Investors
      that
      the Company has hired the aforementioned investor relations firms and then
      only
      to the extent that the Company provides evidence of investor relations related
      expenses. From time to time as the Company incurs investor relations related
      expenses, it shall reflect such amount on written instructions with reference
      to
      this Section 3.3 to release a portion of the IR Holdback Escrow Amount to the
      Company (“Instructions
      to Release IR Holdback”),
      which
      shall specify the dollar amount and payee bank account to which the applicable
      amount shall be transferred. The Escrow Agent shall, upon receipt of
      Instructions to Release IR Holdback (on one or more occasions) jointly executed
      by the Company and a Majority in Interest of the Investors, pay the IR Holdback
      Escrow Amount in accordance with such written instructions, such payment or
      payments to be made by wire transfer within one (1) Business Day of receipt
      of
      such written instructions. The
      Company may change such investor relations firm upon the prior written consent
      of Pinnacle China Fund, L.P. unless the new investor relations firm being hired
      by the Company is one of CCG
      Elite, Hayden Communications, or Integrated Corporate Relations, in which such
      case no consent will be required.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    3.4 If
      for
      any or no reason whatsoever, the Escrow Agent does not receive written notice
      from the Company and the Majority in Interest of the Investors directing the
      release to the Company of (i) the Board Holdback Escrow Amount on or prior
      to
      181 calendar days following the Closing Date (the “Board
      Compliance Period”)
      or
      (ii) CFO Holdback Escrow Amount on or prior to 181 calendar days following
      the
      Closing Date (the “CFO
      Compliance Period”)
      (each
      such failure or breach being referred to as a “Holdback
      Event,”
and
      for purposes of this Section the date such Holdback Event occurs being referred
      to as “Holdback
      Event Date”),
      then
      in addition to any other rights the Investors may have hereunder, under the
      Securities Purchase Agreement or under applicable law, on each such Holdback
      Event Date and on each monthly anniversary of such Holdback Event Date (if
      the
      applicable Holdback Event shall not have been cured by such date) until the
      applicable Holdback Event is cured, the Escrow Agent (on behalf of the Company)
      will deliver and pay to each Investor by wire transfer an amount in immediately
      available funds, as partial liquidated damages and not as a penalty, equal
      to 1%
      of the aggregate Investment Amount paid by such Investor for Shares pursuant
      to
      the Securities Purchase Agreement. The
      partial liquidated damages payable under this Section 3.4 shall be independent
      of any other damages payable under this Agreement or any other Transaction
      Document
      and
      shall apply on a daily pro-rata basis for any portion of a month prior to the
      cure of an Holdback Event.
      In no
      event will the Company be liable for partial liquidated damages under this
      Agreement in excess of 1% of the aggregate Investment Amount of the Investors
      in
      any 30-day period in respect of any single Holdback Event (it being understood
      that if the Company suffers an Holdback Event relating to its failure to comply
      with Section 4.14(a) of the Securities Purchase Agreement and an Holdback Event
      relating to its failure to comply with Section 4.14(b) of the Securities
      Purchase Agreement in a 30-day period it will be responsible for 2% of partial
      liquidated damages under this provision in a 30-day period). It is further
      understood that partial liquidated damages under this Agreement are limited
      to
      the Board Holdback Escrow Amount as to that Holdback Event and the CFO Holdback
      Escrow Amount as to that Holdback Event; provided that the Investors are
      entitled to all other remedies available under applicable law. On any Holdback
      Event Date, the Company will deliver to each Investor a written notice which
      shall set forth the relevant Holdback Event. Schedule
      1
      attached
      hereto shall set forth the name, address, Investment Amount and delivery
      instructions for any partial liquidated damages contemplated hereby of each
      Investor.

     

    3.5 In
      the
      event that the Escrow Agent does not timely receive the written notice from
      the
      Company and the Majority
      in Interest of the Investors
      in
      accordance with the terms hereof prior to the expiration of either of the Board
      Compliance Period and/or the CFO Compliance Period, as relevant, the Company
      hereby irrevocably directs the Escrow Agent to automatically, and without any
      action on the part of the parties hereto, disburse the partial liquidated
      damages applicable to any such Holdback Event to the Investors as contemplated
      herein until the earlier of (i) such time as all Escrowed Funds applicable
      to
      such Holdback Event have been disbursed to the Investors or (ii) such time
      as
      the Escrow Agent receives written notice from the Company and the Majority
      in Interest of the Investors
      that the
      obligations of the Company under this Agreement and the Securities Purchase
      Agreement applicable to such Holdback Event have been adequately complied
      with.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    4.
       Interpleader.
      Should
      any controversy arise among the parties hereto with respect
      to this Agreement or with respect to the right to receive the Escrowed Funds,
      the Escrow Agent shall have the right to consult counsel and/or to institute
      an
      appropriate interpleader
      action to determine the rights of the parties. The Escrow Agent is also
hereby
      authorized to institute an appropriate interpleader action upon receipt of
      a
      written letter of direction executed by the parties so directing the Escrow
      Agent. If the Escrow Agent
      is
      directed to institute an appropriate interpleader action, it shall institute
      such action
      not prior to thirty (30) days after receipt of such letter of direction and
      not
      later than
      sixty (60) days after such date. Any interpleader action instituted in
      accordance with this
      Section 4 shall be filed in any court of competent jurisdiction in New York,
      and
      the portion of the Escrowed Funds in dispute shall be deposited with the court
      and in such event the Escrow Agent shall be relieved of and discharged from
      any
      and all obligations and liabilities under and pursuant to this Agreement with
      respect to that portion of the Escrowed Funds.

     

    5.Exculpation
      and Indemnification of Escrow Agent and Investors.

     

    5.1
       The
      Escrow Agent shall have no duties or responsibilities other
      than those expressly set forth herein. The Escrow Agent and the Investors shall
      have no duty
      to
      enforce any obligation of any person other than itself to make any payment
      or
      delivery, or to direct
      or
      cause any payment or delivery to be made, or to enforce any obligation of any
      person
      to
      perform any other act. The Escrow Agent and the Investors shall be under no
      liability
      to the other parties hereto or anyone else, by reason of any failure, on the
      part of any
      other
      party hereto or any maker, guarantor, endorser or other signatory of a document
      or any
      other
      person, to perform such person’s obligations under any such document. Except for
      amendments to this Agreement
      referenced below, and except for written instructions given to the Escrow Agent
      by the Company and a Majority in Interest of the Investors relating to the
      Escrowed Funds, the Escrow Agent shall not be obligated to recognize any other
      agreement.

     

    5.2
       Neither
      the Escrow Agent nor the Investors shall be liable to the Company or
to
      anyone
      else for any action taken or omitted by it, or any action suffered by it to
      be
taken
      or
      omitted, in good faith and acting upon any order, notice, demand, certificate,
      opinion
      or advice of counsel (including counsel chosen by the Escrow Agent), statement,
      instrument,
      report, or other paper or document (not only as to its due execution and the
      validity
      and effectiveness of its provisions, but also as to the truth and acceptability
      of any
      information therein contained), which is believed by the Escrow Agent or the
      Investors to be
      genuine and to be signed or presented by the proper person or persons. The
      Escrow Agent
      shall not be bound by any of the terms thereof, unless evidenced by written
      notice delivered
      to the Escrow Agent signed by the proper party or parties and, if the duties
      or
rights
      of
      the Escrow Agent are affected, unless it shall give its prior written consent
      thereto.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.3
       Neither
      the Escrow Agent nor the Investors shall be responsible for the sufficiency
      or accuracy of the form, or of the execution, validity, value or genuineness
      of,
any
      document or property received, held or delivered to it hereunder, or of any
      signature or
      endorsement thereon, or for any lack of endorsement thereon, or for any
      description therein;
      nor shall the Escrow Agent or the Investors be responsible or liable to the
      Company or
      to
      anyone else in any respect on account of the identity, authority or rights,
      of
      the person
      executing or delivering or purporting to execute or deliver any document or
      property or this Agreement.
      The
      Escrow Agent shall have no responsibility with respect
      to the use or application of the Escrowed Funds pursuant to the provisions
      hereof.

     

    5.4
       The
      Escrow Agent shall have the right to assume, in the absence of written
notice
      to
      the contrary from the proper person or persons, that a fact or an event, by
      reason of
      which
      an action would or might be taken by the Escrow Agent, does not exist or has
      not
      occurred, without incurring liability to the Company or to anyone else for
      any
      action taken or omitted to be taken or omitted, in good faith and in the
      exercise of its own best judgment, in reliance upon such
      assumption.

    

    5.5 To
      the
      extent that the Escrow Agent becomes liable for the payment of taxes,
      including withholding taxes, in respect of income derived from the investment
      of
the
      Escrowed Funds, or any payment made hereunder, the Escrow Agent may pay such
      taxes;
      and the Escrow Agent may withhold from any payment to the Company (but not
      from
      any partial liquidated damages paid to Investors) of the Escrowed Funds
such
      amount as the Escrow Agent estimates to be sufficient to provide for the payment
      of such
      taxes not yet paid, and may use the sum withheld for that purpose. The Escrow
      Agent
      shall be indemnified and held harmless by the Company against any liability
      for
      taxes and for any penalties
      in respect of taxes, on such investment income or payments in the manner
provided
      in Section 5.6.

    

    5.6 The
      Escrow Agent will be indemnified and held harmless by the Company
      from and against all expenses, including all counsel fees and disbursements,
      or
loss
      suffered by the Escrow Agent in connection with any action, suit or proceedings
      involving
      any claim, or in connection with any claim or demand, which in any way,
directly
      or indirectly, arises out of or relates to this Agreement, the services of
      the
Escrow
      Agent hereunder, except for claims resulting from the gross negligence or
      willful malfeasance of the Escrow Agent or
      breach
      of this Agreement by the Escrow Agent, or the monies or other property
      held by it hereunder. Promptly after the receipt of the Escrow Agent of notice
      of any demand or claim or the commencement of any action, suit or proceeding,
      the Escrow Agent shall, if a claim in respect thereof is to be made against
      the
      Company,
      notify
      it thereof in writing, but the failure by the Escrow Agent to give such notice
      shall
      not
      relieve any such party from any liability which the Company may have to
the
      Escrow Agent hereunder.

     

    5.7 For
      purposes hereof, the term “expense or loss” shall include all amounts
paid
      or
      payable to satisfy any claim, demand or liability, or in settlement of any
      claim, demand, action, suit or proceeding settled with the express written
      consent of the Escrow Agent, and all costs and expenses, including, but not
      limited to, counsel fees and disbursements, paid or incurred in investigating
      or
      defending against any such claim, demand, action, suit or
      proceeding.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    6. Resignation
      of Escrow Agent.
      The
      Escrow Agent may resign at any time and be discharged from its duties
      as
      Escrow Agent hereunder by giving the Company and the Investors at least ten
      (10)
      Business Days written
      notice thereof (the “Notice
      Period”).
      As
      soon as practicable after its resignation, the
      Escrow Agent shall, if it receives notice from the Company within the Notice
      Period, turn
      over
      to a successor escrow agent appointed by the Company all Escrowed Funds
(less
      such amount as the Escrow Agent is entitled to retain pursuant to Section 8)
      upon presentation
      of the document appointing the new escrow agent and its acceptance thereof.
      If
      no new
      agent is so appointed within the Notice Period, the Escrow Agent shall return
      the
      Escrowed Funds to or as directed by the Investors who delivered the same,
      without interest or deduction with the understanding that such Escrowed Funds
      will continue to be subject to the provisions of this Agreement.

     

    7. Form
      of Payments by Escrow Agent.

     

    7.1 Any
      payments of the Escrowed Funds by the Escrow Agent pursuant to the
      terms
      of this Agreement
      shall be
      made by wire transfer unless directed to be made by check by the receiving
      party.

     

    7.2 All
      amounts referred to herein are expressed in United States Dollars (US$) and
      all
      payments by the Escrow Agent shall be made in such dollars.

     

    8. Compensation. Escrow
      Agent shall be entitled to the following compensation from
      the
      Company (it being understood that no Investor shall be responsible to pay the
      Escrow Agent any compensation or fees hereunder):

     

    8.1 Documentation
      Fee: The
      Company shall pay a documentation fee to the Escrow
      Agent of $[ ].

     

    9. Notices. All
      notices, requests, demands, and other communications provided herein shall
      be in
      writing, shall be delivered by hand or by first-class mail, shall be
deemed
      given when received and shall be addressed to parties hereto at their respective
      addresses All notices, requests, demands and other communications required
      or
      permitted to be given hereunder shall be in writing and shall be deemed to
      have
      been duly given if sent by hand-delivery, by facsimile (followed by first-class
      mail), by nationally recognized overnight courier service or by prepaid
      registered or certified mail, return receipt requested, to the addresses set
      forth below.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    If
      to
      Investors:

    

    To
      the
      address set forth on the signature pages hereto. 

     

    If
      to
      the Company:

    

    First
      Growth Investors, Inc.

    301
      Hailong Street

    Hanting
      District, Weifang, Shandong Province 

    People's
      Republic of China 261101

    Facsimile:
      86-536-7363788

    Attn.:
      President

    Email:
      zhangjinhua1688@126.com

    

    With
      a copy to:

     

    Heller
      Ehrman LLP

    35th
      Floor

    One
      Exchange Square

    8
      Connaught Place

    Central,
      Hong Kong 

    Facsimile:
      +852 2292 2200

    Email:Simon.Luk@hellerehrman.com

    Attn.:
      Simon Luk, Esq.

    

    If
      to
      Escrow Agent:

    

    Tri-State
      Title & Escrow, LLC

    360
      Main
      Street

    P.O.
      Box
      391 

    Washington,
      VA 22747

    Attention:
      Johnnie L. Zarecor

    Telephone:
      (540) 675-2155 Fax: (540) 675-3155

    Email
      escrow@tristatetitle.net 

     

    10. Further
      Assurances. From
      time
      to time on and after the date hereof, the Company
      shall deliver or cause to be delivered to the Escrow Agent such further
documents
      and instruments and shall do and cause to be done such further acts as the
      Escrow Agent shall reasonably request (it being understood that the Escrow
      Agent
      shall have
      no
      obligation to make any such request) to carry out more effectively the
      provisions and
      purposes of this Agreement, to evidence compliance herewith or to assure
itself
      that it is protected in acting hereunder.

     

    11. Miscellaneous.

     

    11.1 This
      Agreement shall be construed without regard to any presumption
      or other rule requiring construction against the party causing such instrument
      to be drafted. The terms “hereby,” “hereof,” “hereunder,” and any similar
terms,
      as
      used in this Agreement, refer to the Agreement in its entirety and
      not
      only to the particular portion of this Agreement
      where
      the term is used. The word “person” shall mean any natural person, partnership,
      corporation, government and any other form of business of legal entity. All
      words or terms used in this Agreement,
      regardless of the number or gender in which they were used, shall be deemed
      to
      include any other number and any other gender as the context may require. This
      Agreement
      shall
      not be admissible in evidence to construe the provisions of any prior
      agreement.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    11.2 This
      Agreement
      and the
      rights and obligations hereunder of the Company may be assigned by the Company
      only following the prior written consent
      of the Majority in Interest of the Investors.
      This
Agreement
      and the
      rights and obligations hereunder of the Escrow Agent may be assigned by the
      Escrow Agent only with the prior consent
      of the Company and the Majority in Interest of the Investors. An Investor may
      assign its rights under this Agreement without any consent from any other party.
      This
      Agreement
      may not
      be changed orally or modified, amended or supplemented without an express
      written agreement executed by the Escrow Agent, the Company and the Majority
      in Interest of the Investors.
      This
Agreement
      is
      binding upon and intended to be for the sole benefit of the parties hereto
      and
      their
      respective successors, heirs and permitted assigns, and none of the provisions
      of this
      Agreement are intended to be, nor shall they be construed to be, for the
benefit
      of any third person.

     

    11.3 This
      Agreement shall be governed by, and construed in accordance
      with, the internal laws of the State of New
      York.
      The
      representations and warranties contained in this Agreement
      shall
      survive the execution and delivery hereof
      and any investigations made by any party. Each
      party agrees that all legal proceedings concerning the interpretations,
      enforcement and defense of the transactions contemplated by this Agreement
      shall
      be commenced exclusively in the state and federal courts sitting in the City
      of
      New York, Borough of Manhattan (the “New
      York Courts”).
      Each
      party hereto hereby irrevocably submits to the exclusive jurisdiction of the
      New
      York Courts for the adjudication of any dispute hereunder or in connection
      herewith, and hereby irrevocably waives, and agrees not to assert in any such
      proceeding, any claim that it is not personally subject to the jurisdiction
      of
      any such New York Court, or that such proceeding has been commenced in an
      improper or inconvenient forum. Each party hereto hereby irrevocably waives
      personal service of process and consents to process being served in any such
      proceeding by mailing a copy thereof via registered or certified mail or
      overnight delivery (with evidence of delivery) to such party at the address
      in
      effect for notices to it under this Agreement and agrees that such service
      shall
      constitute good and sufficient service of process and notice thereof. Nothing
      contained herein shall be deemed to limit in any way any right to serve process
      in any manner permitted by law.  

     

    11.4 The
      headings in this Agreement
      are for
      purposes of reference only and shall not limit or otherwise affect any
of
      the
      terms thereof. This
      Agreement may be executed in a number
      of
      counterparts, by facsimile, each of which shall be deemed to be an original
      as
of
      those
      whose signature appears thereon, and all of which shall together constitute
      one
and
      the
      same instrument. This Agreement shall become binding when one or more of the
      counterparts hereof, individually or taken together, are signed by all the
      parties.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, the parties have executed and delivered this Agreement on
      the
      day and year first above written.

     

    
      	
              TRI-STATE
                TITLE & ESCROW, LLC

            	 	 	
            
	 	 	 	 
	 	 	 	 
	By:  /s/
              Guy W. Turner	 	 	
            
	
              
                
Name:
                Guy W. Turner

              
                Title:
                  President

              

            	 	 	
            
	
            	 	 	
            
	 	 	 	 
	
              FIRST
                GROWTH INVESTORS, INC.

            	 	 	 
	 	 	 	 
	 	 	 	 
	By:  /s/Gao
              Zhentao	 	 	 
	
              
                
Name:
                Gao Zhentao

              
                Title:
                  Director

              

            	 	 	 

    

     

    NAME
      OF INVESTOR:

    
      	 	 	 
	 	
              Dehua
                Qian

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Dehua Qian
	 	
              
Name: Dehua
              Qian
	 	Title:

    

    
      	 	 	 
	 	 
	 	
              Westpark
                Capital, L. P.

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Patrick
              J. Brosnahan
	 	
              
Name: Patrick
              J. Brosnahan
	 	Title: General
              Partner

    

    
      	 	 	 
	 	 
	 	
              Liping
                Gu

            
	 
 	 
 	 
 
	
            	By:  	 /s/
Liping
              Gu
	 	
              
Name: Liping
              Gu
	 	Title:

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	 	Ruoling Wang
	 
 	 
 	 
 
	
            	By:  	/s/
              Ruoling
              Wang
	 	
              
Name: Ruoling
              Wang
	 	Title: 

    

    
      	 	 	 
	 	 
	 	
              Wu
                Mijia

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Wu
              Mijia
	 	
              
Name: Wu
              Mijia
	 	Title:
              

    

    
      	 	 	 
	 	 
	 	Ancora Greater China Fund, LP
	 
 	 
 	 
 
	
            	By:  	/s/
              John
              Micklitsch
	 	
              
Name: John
              Micklitsch
	 	Title: Managing
              Partner

    

    
      	 	 	 
	 	Atlas Allocation Fund, L.P.
	 
 	 
 	 
 
	
            	By:  	/s/
              Robet
              H Alpert 
	 	
              
Name: Robet
              H Alpert
	 	
              Title: President

            

    

    
      	 	 	 
	 	
              Howard
                H. Lu

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Howard
              H. Lu
	 	
              
Name: Howard
              H. Lu
	 	Title:

    

    
      	 	 	 
	 	Investment Hunter, LLC
	 
 	 
 	 
 
	
            	By:  	/s/
              Gary
              Evans
	 	
              
Name: Gary
              Evansrt
	 	
              Title: Manager

            

    

    
      	 	 	 
	 	
              BLACK
                RIVER COMMODITY SELECT FUND LTD.

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Guilherme
              Schmidt
	 	
              
Name: Guilherme
              Schmidt
	 	Title: Principal

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

       

    

    
      	 	 	 
	 	
              BLACK
                RIVER SMALL CAPITALIZATION FUND LTD.

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Guilherme
              Schmidt
	 	
              
Name: Guilherme
              Schmidt
	 	Title: Principal

    

    
      	 	 	 
	 	 
	 	Chestnut Ridge Partners, LP
	 
 	 
 	 
 
	
            	By:  	/s/ Kenneth
              Holz
	 	
              
Name: Kenneth
              Holz
	 	
              Title: CFO

            

    

    
      	 	 	 
	 	 
	 	Guerrilla Partners LP
	 
 	 
 	 
 
	
            	By:  	/s/ Leigh
              S. Curry
	 	
              

              Name: Leigh
                S. Curry

            
	 	
              Title: Managing
                director

            

    

     

    
      	 	 	 
	 	Southwell Partners, L.P.
	 
 	 
 	 
 
	
            	By:  	 /s/ Wilson
              S. Jaegli
	 	
              
Name: Wilson
              S. Jaegli
	 	Title: Managing
              Director

    

    
      	 	 	 
	 	 
	 	
              Kevin
                B Halter Jr.

            
	 
 	 
 	 
 
	
            	By:  	/s/ Kevin
              B Halter Jr. 
	 	
              
Name: Kevin
              B Halter Jr.
	 	
              Title:

            

    

    
      	 	 	 
	 	 
	 	Octagon Capital Partners
	 
 	 
 	 
 
	
            	By:  	/s/
              Steven
              Hart
	 	
              
Name: Steven
              Hart
	 	Title: General
              Partner

    

    
      	 	 	 
	 	 
	 	Guerrilla Partners LP
	 
 	 
 	 
 
	
            	By:  	/s/ Leigh
              S. Curry
	 	
              
Name: Leigh
              S. Curry
	 	
              Title: Managing
                director

            

    

    
      	 	 	 
	 	 
	 	
              Pinnacle
                China Fund L.P.

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Barry
              M. Kitt
	 	
              
Name: Leigh
              S. Curry
	 	Title: Managing
              director

    

    
      	 	 	 
	 	 
	 	Pinnacle Fund, L.P.
	 
 	 
 	 
 
	
            	By:  	/s/
              Leigh
              S. Curry
	 	
              
Name: Leigh
              S. Curry
	 	Title: Managing
              director

    

    
      	 	 	 
	 	 
	 	Straus Partners, LP
	 
 	 
 	 
 
	
            	By:  	/s/
              Andrew
              Marks
	 	
              
Name: Andrew
              Marks
	 	
              Title: CFO

            

    

    
      	 	 	 
	 	 
	 	Straus-GEPT Partners, LP
	 
 	 
 	 
 
	
            	By:  	/s/ Andrew
              Marks
	 	
              
Name: Andrew
              Marks
	 	
              Title: CFO

            

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

    PARTIES
      TO AGREEMENT

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    Schedule
      1

     

    
      
        
        

      

      
        14NEITHER
      THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES
      HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
      SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
      REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
      ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
      EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
      SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
      TO
      SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
      COMPANY. THESE SECURITIES AND THE SECURITIES ISSUABLE UPON EXERCISE OF THESE
      SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT SECURED
      BY SUCH SECURITIES. 

     

    FIRST
      GROWTH INVESTORS, INC.

     

    WARRANT

     

    
      	
              Warrant
                No. 1

            	
              Original
                Issue Date: March 12,
                2008

            
	 	 

    

    First
      Growth Investors, Inc., a Nevada corporation (the "Company"),
      hereby
      certifies that, as partial compensation for placement agent services, Roth
      Capital Partners, LLC or its registered assigns (the "Holder"),
      is
      entitled to purchase from the Company up to a total of 6,999,999
      shares of Common Stock (each such share, a "Warrant
      Share"
      and all
      such shares, the "Warrant
      Shares"),
      at any
      time and from time to time from and after the six-month anniversary of the
      Original Issue Date and through and including March 12, 2011 (the "Expiration
      Date"),
      and
      subject to the following terms and conditions:

     

    1.  Definitions.
      As used
      in this Warrant, the following terms shall have the respective definitions
      set
      forth in this Section 1. 

     

    "Affiliate"
      means
      any Person that, directly or indirectly through one or more intermediaries,
      controls or is controlled by or is under common control with a Person, as such
      terms are used in and construed under Rule 144.

     

    "Business
      Day"
      means
      any day except Saturday, Sunday and any day that is a federal legal holiday
      in
      the United States or a day on which banking institutions in the State of New
      York are authorized or required by law or other government action to
      close.

     

    "Common
      Stock"
      means
      the common stock of the Company, par value $0.001 per share, and any securities
      into which such common stock may hereafter be reclassified.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Exchange
      Act"
      means
      the Securities Exchange Act of 1934, as amended. 

     

    "Exercise
      Price" means
      $0.252, subject to adjustment in accordance with Section 9.

     

    "Fundamental
      Transaction"
      means
      any of the following: (1) the Company effects any merger or consolidation of
      the
      Company with or into another Person as a result of which stockholders of the
      Company immediately prior to such merger or consolidation possess a minority
      of
      the voting power of the acquiring entity immediately following such transaction,
      (2) the Company effects any sale of all or substantially all of its assets
      in
      one or a series of related transactions, (3) any tender offer or exchange offer
      (whether by the Company or another Person) is completed pursuant to which
      holders of Common Stock are permitted to tender or exchange their shares for
      other securities, cash or property, or (4) the Company effects any
      reclassification of the Common Stock or any compulsory share exchange pursuant
      to which the Common Stock is effectively converted into or exchanged for other
      securities, cash or property.

     

    “New
      York Courts”
      means
      the state and federal courts sitting in the City of New York, Borough of
      Manhattan.

     

    “Original
      Issue Date”
      means
      the Original Issue Date first set forth on the first page of this
      Warrant.

     

    "Person"
      means an
      individual or corporation, partnership, trust, incorporated or unincorporated
      association, joint venture, limited liability company, joint stock company,
      government (or an agency or subdivision thereof) or other entity of any
      kind.

     

    "Rule
      144"
      means
      Rule 144 promulgated by the Securities and Exchange Commission pursuant to
      the
      Securities Act, as such Rule may be amended from time to time, or any similar
      rule or regulation hereafter adopted by the Securities and Exchange Commission
      having substantially the same effect as such Rule.

     

    "Securities
      Act"
      means
      the Securities Act of 1933, as amended.

     

    "Trading
      Day"
      means
      (i) a day on which the Common Stock is traded on a Trading Market (other than
      the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading
      Market (other than the OTC Bulletin Board), a day on which the Common Stock
      is
      traded in the over-the-counter market, as reported by the OTC Bulletin Board,
      or
      (iii) if the Common Stock is not quoted on any Trading Market, a day on which
      the Common Stock is quoted in the over-the-counter market as reported by the
      Pink Sheets, LLC (or any similar organization or agency succeeding to its
      functions of reporting prices); provided, that in the event that the Common
      Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then
      Trading Day shall mean a Business Day.

     

    "Trading
      Market"
      means
      whichever of the New York Stock Exchange, the American Stock Exchange, the
      NASDAQ Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market
      or OTC Bulletin Board on which the Common Stock is listed or quoted for trading
      on the date in question.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    "Warrant
      Shares" means
      the
      shares of Common Stock issuable upon exercise of this Warrant.

     

    2.  Registration
      of Warrant.
      The
      Company shall register this Warrant upon records to be maintained by the Company
      for that purpose (the "Warrant
      Register"),
      in the
      name of the record Holder hereof from time to time. The Company may deem and
      treat the registered Holder of this Warrant as the absolute owner hereof for
      the
      purpose of any exercise hereof or any distribution to the Holder, and for all
      other purposes, absent actual notice to the contrary.

     

    3.  Registration
      of Transfers.
      The
      Company shall register the transfer of any portion of this Warrant in the
      Warrant Register, upon surrender of this Warrant, with the Form of Assignment
      attached hereto duly completed and signed, to the Company at its address
      specified herein. Upon any such registration or transfer, a new Warrant to
      purchase Common Stock, in substantially the form of this Warrant (any such
      new
      Warrant, a "New
      Warrant"),
      evidencing the portion of this Warrant so transferred shall be issued to the
      transferee and a New Warrant evidencing the remaining portion of this Warrant
      not so transferred, if any, shall be issued to the transferring Holder. The
      acceptance of the New Warrant by the transferee thereof shall be deemed the
      acceptance by such transferee of all of the rights and obligations of a holder
      of a Warrant. 

     

    4.  Exercise
      and Duration of Warrants.
      This
      Warrant shall be exercisable by the registered Holder at any time and from
      time
      to time on or after the six-month anniversary of the Original Issue Date through
      and including the Expiration Date. At 6:30 p.m., New York City time on the
      Expiration Date, the portion of this Warrant not exercised prior thereto shall
      be and become void and of no value. The Company may not call or redeem any
      portion of this Warrant without the prior written consent of the affected
      Holder. 

     

    5.  Delivery
      of Warrant Shares.

     

    (a)  To
      effect
      exercises hereunder, the Holder shall not be required to physically surrender
      this Warrant unless the aggregate Warrant Shares represented by this Warrant
      is
      being exercised. Upon delivery of the Exercise Notice (in the form attached
      hereto) to the Company (with the attached Warrant Shares Exercise Log) at its
      address for notice set forth herein and upon payment of the Exercise Price
      multiplied by the number of Warrant Shares that the Holder intends to purchase
      hereunder, the Company shall promptly (but in no event later than three Trading
      Days after the Date of Exercise (as defined herein)) issue and deliver to the
      Holder, a certificate for the Warrant Shares issuable upon such exercise. The
      Company shall, upon request of the Holder and subsequent to the date on which
      a
      registration statement covering the resale of the Warrant Shares has been
      declared effective by the Securities and Exchange Commission, use its reasonable
      best efforts to deliver Warrant Shares hereunder electronically through the
      Depository Trust Corporation or another established clearing corporation
      performing similar functions, if available, provided,
      that,
      the Company may, but will not be required to change its transfer agent if its
      current transfer agent cannot deliver Warrant Shares electronically through
      the
      Depository Trust Corporation. A "Date
      of Exercise"
      means
      the date on which the Holder shall have delivered to the Company: (i) the
      Exercise Notice (with the Warrant Exercise Log attached to it), appropriately
      completed and duly signed and (ii) if such Holder is not utilizing the cashless
      exercise provisions set forth in this Warrant, payment of the Exercise Price
      for
      the number of Warrant Shares so indicated by the Holder to be
      purchased.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)  If
      by the
      third Trading Day after a Date of Exercise the Company fails to deliver the
      required number of Warrant Shares in the manner required pursuant to Section
      5(a), then the Holder will have the right to rescind such exercise.

     

    (c)  If
      by the
      third Trading Day after a Date of Exercise the Company has yet to deliver the
      required number of Warrant Shares in the manner required pursuant to Section
      5(a), and if after such third Trading Day and prior to the receipt of such
      Warrant Shares, the Holder (i) has not then rescinded such exercise pursuant
      to
      Section 5(b) and (ii) purchases (in an open market transaction or otherwise)
      shares of Common Stock to deliver in satisfaction of a sale by the Holder of
      the
      Warrant Shares which the Holder anticipated receiving upon such exercise (a
      "Buy-In"),
      then
      the Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder's total purchase price (including brokerage commissions, if any) for
      the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of Warrant Shares that the Company was required
      to
      deliver to the Holder in connection with the exercise at issue by (B) the
      closing bid price of the Common Stock on the Date of Exercise (or, if on the
      Date of Exercise, the Common Stock is not traded on any Trading Market, the
      fair
      market value of one share of the Common Stock on the Date of Exercise, as
      determined by the Company’s Board of Directors) and (2) at the option of the
      Holder, either reinstate the portion of the Warrant and equivalent number of
      Warrant Shares for which such exercise was not honored or deliver to the Holder
      the number of shares of Common Stock that would have been issued had the Company
      timely complied with its exercise and delivery obligations hereunder. The Holder
      shall provide the Company written notice indicating the amounts payable to
      the
      Holder in respect of the Buy-In. 

     

    (d)  The
      Company's obligations to issue and deliver Warrant Shares in accordance with
      the
      terms hereof are absolute and unconditional, irrespective of any action or
      inaction by the Holder to enforce the same, any waiver or consent with respect
      to any provision hereof, the recovery of any judgment against any Person or
      any
      action to enforce the same, or any setoff, counterclaim, recoupment, limitation
      or termination, or any breach or alleged breach by the Holder or any other
      Person of any obligation to the Company or any violation or alleged violation
      of
      law by the Holder or any other Person, and irrespective of any other
      circumstance which might otherwise limit such obligation of the Company to
      the
      Holder in connection with the issuance of Warrant Shares. Nothing herein shall
      limit a Holder's right to pursue any other remedies available to it hereunder,
      at law or in equity including, without limitation, a decree of specific
      performance and/or injunctive relief with respect to the Company's failure
      to
      timely deliver certificates representing Warrant Shares upon exercise of the
      Warrant as required pursuant to the terms hereof.

     

    6.  Charges,
      Taxes and Expenses.
      Issuance and delivery of Warrant Shares upon exercise of this Warrant shall
      be
      made without charge to the Holder for any issue or transfer tax, withholding
      tax, transfer agent fee or other incidental tax or expense in respect of the
      issuance of such certificates, all of which taxes and expenses shall be paid
      by
      the Company; provided, however, that the Company shall not be required to pay
      any tax which may be payable in respect of any transfer involved in the
      registration of any certificates for Warrant Shares or Warrants in a name other
      than that of the Holder. The Holder shall be responsible for all other tax
      liability that may arise as a result of holding or transferring this Warrant
      or
      receiving Warrant Shares upon exercise hereof.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    7.  Replacement
      of Warrant.
      If this
      Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or
      cause to be issued in exchange and substitution for and upon cancellation
      hereof, or in lieu of and substitution for this Warrant, a New Warrant, but
      only
      upon receipt of evidence reasonably satisfactory to the Company of such loss,
      theft or destruction and customary and reasonable indemnity (which shall not
      include a surety bond), if requested. Applicants for a New Warrant under such
      circumstances shall also comply with such other reasonable regulations and
      procedures and pay such other reasonable third-party costs as the Company may
      prescribe. If a New Warrant is requested as a result of a mutilation of this
      Warrant, then the Holder shall deliver such mutilated Warrant to the Company
      as
      a condition precedent to the Company’s obligation to issue the New
      Warrant.

     

    8.  Reservation
      of Warrant Shares.
      The
      Company covenants that it will at all times reserve and keep available out
      of
      the aggregate of its authorized but unissued and otherwise unreserved Common
      Stock, solely for the purpose of enabling it to issue Warrant Shares upon
      exercise of this Warrant as herein provided, the number of Warrant Shares which
      are then issuable and deliverable upon the exercise of this entire Warrant,
      free
      from preemptive rights or any other contingent purchase rights of Persons other
      than the Holder (taking into account the adjustments and restrictions of Section
      9). The Company covenants that all Warrant Shares so issuable and deliverable
      shall, upon issuance and the payment of the applicable Exercise Price in
      accordance with the terms hereof, be duly and validly authorized, issued and
      fully paid and nonassessable.

     

    9.  Certain
      Adjustments.
      The
      Exercise Price and number of Warrant Shares issuable upon exercise of this
      Warrant are subject to adjustment from time to time as set forth in this Section
      9.

     

    (a)  Stock
      Dividends and Splits.
      If the
      Company, at any time while this Warrant is outstanding, (i) pays a stock
      dividend on its Common Stock or otherwise makes a distribution on any class
      of
      capital stock that is payable in shares of Common Stock, (ii) subdivides
      outstanding shares of Common Stock into a larger number of shares, or (iii)
      combines outstanding shares of Common Stock into a smaller number of shares,
      then in each such case the Exercise Price shall be multiplied by a fraction
      of
      which the numerator shall be the number of shares of Common Stock outstanding
      immediately before such event and of which the denominator shall be the number
      of shares of Common Stock outstanding immediately after such event. Any
      adjustment made pursuant to clause (i) of this paragraph shall become effective
      immediately after the record date for the determination of stockholders entitled
      to receive such dividend or distribution, and any adjustment pursuant to clause
      (ii) or (iii) of this paragraph shall become effective immediately after the
      effective date of such subdivision or combination.

     

    (b)  Fundamental
      Transactions.
      If, at
      any time while this Warrant is outstanding there is a Fundamental Transaction,
      then the Holder shall have the right thereafter to receive, upon exercise of
      this Warrant, the same amount and kind of securities, cash or property as it
      would have been entitled to receive upon the occurrence of such Fundamental
      Transaction if it had been, immediately prior to such Fundamental Transaction,
      the holder of the number of Warrant Shares then issuable upon exercise in full
      of this Warrant (the "Alternate
      Consideration").
      For
      purposes of any such exercise, the determination of the Exercise Price shall
      be
      appropriately adjusted to apply to such Alternate Consideration based on the
      amount of Alternate Consideration issuable in respect of one share of Common
      Stock in such Fundamental Transaction, and the Company shall apportion the
      Exercise Price among the Alternate Consideration in a reasonable manner
      reflecting the relative value of any different components of the Alternate
      Consideration. If holders of Common Stock are given any choice as to the
      securities, cash or property to be received in a Fundamental Transaction, then
      the Holder shall be given the same choice as to the Alternate Consideration
      it
      receives upon any exercise of this Warrant following such Fundamental
      Transaction. At the Holder's option and request, any successor to the Company
      or
      surviving entity in such Fundamental Transaction shall, either (1) issue to
      the
      Holder a new warrant substantially in the form of this Warrant and consistent
      with the foregoing provisions and evidencing the Holder's right to purchase
      the
      Alternate Consideration for the aggregate Exercise Price upon exercise thereof,
      or (2) purchase the Warrant from the Holder for a purchase price, payable in
      cash within five Trading Days after such request (or, if later, on the effective
      date of the Fundamental Transaction), equal to the Black Scholes value of the
      remaining unexercised portion of this Warrant on the date of such request.
      The
      terms of any agreement pursuant to which a Fundamental Transaction is effected
      shall include terms requiring any such successor or surviving entity to comply
      with the provisions of this paragraph (b) and insuring that the Warrant (or
      any
      such replacement security) will be similarly adjusted upon any subsequent
      transaction analogous to a Fundamental Transaction. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)  Number
      of Warrant Shares.
      Simultaneously with any adjustment to the Exercise Price pursuant to this
      Section 9, the number of Warrant Shares that may be purchased upon exercise
      of
      this Warrant shall be increased or decreased proportionately, so that after
      such
      adjustment the aggregate Exercise Price payable hereunder for the adjusted
      number of Warrant Shares shall be the same as the aggregate Exercise Price
      in
      effect immediately prior to such adjustment.

     

    (d)  Calculations.
      All
      calculations under this Section 9 shall be made to the nearest cent or the
      nearest 1/100th
      of a
      share, as applicable. The number of shares of Common Stock outstanding at any
      given time shall not include shares owned or held by or for the account of
      the
      Company, and the disposition of any such shares shall be considered an issue
      or
      sale of Common Stock.

     

    (e)  Notice
      of Adjustments.
      Upon
      the occurrence of each adjustment pursuant to this Section 9, the Company at
      its
      expense will promptly compute such adjustment in accordance with the terms
      of
      this Warrant and prepare a certificate setting forth such adjustment, including
      a statement of the adjusted Exercise Price and adjusted number or type of
      Warrant Shares or other securities issuable upon exercise of this Warrant (as
      applicable), describing the transactions giving rise to such adjustments and
      showing in detail the facts upon which such adjustment is based. Upon written
      request, the Company will promptly deliver a copy of each such certificate
      to
      the Holder and to the Company's Transfer Agent.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (f)  Notice
      of Corporate Events.
      If the
      Company (i) declares a dividend or any other distribution of cash, securities
      or
      other property in respect of its Common Stock, including without limitation
      any
      granting of rights or warrants to subscribe for or purchase any capital stock
      of
      the Company, (ii) authorizes or approves, enters into any agreement
      contemplating or solicits stockholder approval for any Fundamental Transaction
      or (iii) authorizes the voluntary dissolution, liquidation or winding up of
      the
      affairs of the Company, then the Company shall deliver to the Holder a notice
      describing the material terms and conditions of such transaction (but only
      to
      the extent such disclosure would not result in the dissemination of material,
      non-public information to the Holder) at least 10 calendar days prior to the
      applicable record or effective date on which a Person would need to hold Common
      Stock in order to participate in or vote with respect to such transaction,
      and
      the Company will take all steps reasonably necessary in order to insure that
      the
      Holder is given the practical opportunity to exercise this Warrant prior to
      such
      time so as to participate in or vote with respect to such transaction; provided,
      however, that the failure to deliver such notice or any defect therein shall
      not
      affect the validity of the corporate action required to be described in such
      notice.

     

    10.  Payment
      of Exercise Price.
      The
      Holder may pay the Exercise Price in one of the following manners:

     

    (a)  Cash
      Exercise.
      The
      Holder may deliver immediately available funds; or

     

    (b)  Cashless
      Exercise.
      The
      Holder may notify the Company in an Exercise Notice of its election to utilize
      cashless exercise, in which event the Company shall issue to the Holder the
      number of Warrant Shares determined as follows:

     

    X
      = Y
      [(A-B)/A]

     

    where:

     

    X
      = the
      number of Warrant Shares to be issued to the Holder.

     

    Y
      = the
      number of Warrant Shares with respect to which this Warrant is being
      exercised.

     

    A
      = the
      average of the closing prices for the five Trading Days immediately prior to
      (but not including) the Date of Exercise.

     

    B
      = the
      Exercise Price.

     

    For
      purposes of Rule 144 promulgated under the Securities Act, it is intended,
      understood and acknowledged that the Warrant Shares issued in a cashless
      exercise transaction shall be deemed to have been acquired by the Holder, and
      the holding period for the Warrant Shares shall be deemed to have commenced,
      on
      the date this Warrant was originally issued.

     

    11.  Limitations
      on Exercise.
      Notwithstanding anything to the contrary contained herein, the number of Warrant
      Shares that may be acquired by the Holder upon any exercise of this Warrant
      (or
      otherwise in respect hereof) shall be limited to the extent necessary to insure
      that, following such exercise (or other issuance), the total number of shares
      of
      Common Stock then beneficially owned by such Holder and its Affiliates and
      any
      other Persons whose beneficial ownership of Common Stock would be aggregated
      with the Holder's for purposes of Section 13(d) of the Exchange Act, does not
      exceed 9.999% of the total number of issued and outstanding shares of Common
      Stock (including for such purpose the shares of Common Stock issuable upon
      such
      exercise). For such purposes, beneficial ownership shall be determined in
      accordance with Section 13(d) of the Exchange Act and the rules and regulations
      promulgated thereunder. This provision shall not restrict the number of shares
      of Common Stock which a Holder may receive or beneficially own in order to
      determine the amount of securities or other consideration that such Holder
      may
      receive in the event of a Fundamental Transaction as contemplated in Section
      9
      of this Warrant. This restriction may not be waived.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    12.  No
      Fractional Shares.
      No
      fractional shares of Warrant Shares will be issued in connection with any
      exercise of this Warrant. In lieu of any fractional shares which would,
      otherwise be issuable, the Company shall pay cash equal to the product of such
      fraction multiplied by the closing bid price of one Warrant Share as reported
      by
      the applicable Trading Market on the Date of Exercise (or, if on the Date of
      Exercise, the Warrant Shares are not traded on any Trading Market, the fair
      market value of one Warrant Share on the Date of Exercise, as determined in
      good
      faith by the Company’s Board of Directors).

     

    13.  Notices.
      Any and
      all notices or other communications or deliveries hereunder (including, without
      limitation, any Exercise Notice) shall be in writing and shall be deemed given
      and effective on the earliest of (i) the date of transmission, if such notice
      or
      communication is delivered via facsimile at the facsimile number specified
      in
      this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (ii)
      the
      next Trading Day after the date of transmission, if such notice or communication
      is delivered via facsimile at the facsimile number specified in this Section
      on
      a day that is not a Trading Day or later than 6:30 p.m. (New York City time)
      on
      any Trading Day, (iii) the Trading Day following the date of mailing, if sent
      by
      nationally recognized overnight courier service, or (iv) upon actual receipt
      by
      the party to whom such notice is required to be given. The addresses for such
      communications shall be: (i) if to the Company, to 2508
      South 1300 East,
      Salt
      Lake
      City, Utah 84106,
      Attn:
President,
      or to
      Facsimile No.: 86-536-7363788 (or such other address as the Company shall
      indicate in writing in accordance with this Section), or (ii) if to the Holder,
      to the address or facsimile number appearing on the Warrant Register or such
      other address or facsimile number as the Holder may provide to the Company
      in
      accordance with this Section.

     

    14.  No
      Stockholder Rights.
      This
      Warrant, by itself, as distinguished from any Warrant Shares issued hereunder,
      shall not entitle the Holder to any of the rights of a stockholder of the
      Company.

     

    15.  Warrant
      Agent.
      The
      Company shall serve as warrant agent under this Warrant. Upon 10 days' notice
      to
      the Holder, the Company may appoint a new warrant agent. Any corporation into
      which the Company or any new warrant agent may be merged or any corporation
      resulting from any consolidation to which the Company or any new warrant agent
      shall be a party or any corporation to which the Company or any new warrant
      agent transfers substantially all of its corporate trust or shareholders
      services business shall be a successor warrant agent under this Warrant without
      any further act. Any such successor warrant agent shall promptly cause notice
      of
      its succession as warrant agent to be mailed (by first class mail, postage
      prepaid) to the Holder at the Holder's last address as shown on the Warrant
      Register.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    16.  Holder
      Representations.
      The
      Holder of this Warrant, by acceptance hereof, acknowledges that this Warrant
      is
      being issued by the Company in reliance upon the following
      representations
      of the
      Holder: 

     

    (a)  the
      Holder is an entity duly organized, validly existing and in good standing under
      the laws of the jurisdiction of its organization with the requisite corporate
      power and authority to enter into and to consummate the transactions
      contemplated by the Warrant and otherwise to carry out its obligations
      hereunder;

     

    (b)  that
      as
      of the date hereof,
      the
      Holder is an “accredited investor” as defined in Rule 501(a) under the
      Securities Act
      and such
      Holder has such experience in business and financial matters that it is capable
      of evaluating the merits and risks of the Warrant. The Holder acknowledges
      that
      returns based upon the Warrant are speculative and involve a high degree of
      risk;
      

     

    (c)  the
      Holder is not acquiring the Warrant as a result of any advertisement, article,
      notice, meeting or other communication regarding the Warrant published in any
      newspaper, magazine or similar media or broadcast over television or radio
      or
      presented at any seminar or any other general solicitation or general
      advertisement;

     

    (d)  the
      Holder acknowledges that it has the information (or access to such information)
      with respect to the Company that is necessary for it to make the decision to
      acquire the Warrant and has been afforded (i) the opportunity to ask such
      questions as it has deemed necessary of, and to receive answers from,
      representatives of the Company concerning the terms and conditions of the
      offering of the Warrant and the merits and risks of acquiring the Warrant;
      (ii)
      information or access to information about the Company and its subsidiaries
      as
      disclosed in the Company’s filings with the Commission and their respective
      financial conditions, results of operations, business, properties, management
      and prospects sufficient to enable it to evaluate the Warrant; and (iii) the
      opportunity to obtain such additional information that the Company possesses
      or
      can acquire without reasonable effort or expense that is necessary to make
      an
      informed decision with respect to the Warrant; 

     

    (e)  the
      Holder has independently evaluated the merits of its decision to acquire the
      Warrant and such Holder confirms that it has not relied on the advice of any
      business or legal counsel in making such decision; 

     

    (f)  the
      Holder
      is
      acquiring the
      Warrant
      as principal for its own account and not with a view to or for distributing
      or
      reselling this Warrant,
      any part
      thereof, or
      any
      Warrant Shares, without
      prejudice, however, to the Holder’s right at all times to sell or otherwise
      dispose of all or any part of the
      Warrant
      in compliance with applicable federal and state securities laws.
      The
      Holder is acquiring this Warrant in the ordinary course of its business. The
      Holder does not have any agreement or understanding, directly or indirectly,
      with any person to distribute this Warrant or any portion hereof; 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (g)  the
      Holder understands that the Warrant and any Warrant Shares must be held
      indefinitely unless they are registered
      under
      the Securities Act or
      an
      exemption from registration
      is available. The Holder acknowledges that it is familiar with Rule 144 and
      that
      such Holder has been advised that Rule 144 permits resales only under certain
      circumstances. The Holder understands that to the extent that Rule 144 is not
      available, such Holder will be unable to sell any portion of the Warrant or
      Warrant Shares without either registration under the Securities Act or the
      existence of another exemption from such registration requirement.

     

    (h)  the
      Holder understands that the Warrant is being offered and issued in reliance
      on a
      transactional exemption from the registration requirements of
      federal
      and state securities laws
      and the
      Company is relying upon the truth and accuracy of the representations,
      warranties, agreements, acknowledgements and understandings of the Holder set
      forth herein in order to determine the applicability of such exemptions and
      the
      suitability of the Holder to acquire the Warrant.
      The
      Holder understands that no United States federal or state agency or any
      government or governmental agency has passed upon or made any recommendation
      or
      endorsement of the Warrant. 

     

    17.  Miscellaneous.

     

    (a)  This
      Warrant shall be binding on and inure to the benefit of the parties hereto
      and
      their respective successors and assigns. Subject to the preceding sentence,
      nothing in this Warrant shall be construed to give to any Person other than
      the
      Company and the Holder any legal or equitable right, remedy or cause of action
      under this Warrant. This Warrant may be amended only in writing signed by the
      Company and the Holder and their successors and assigns.

     

    (b)  All
      questions concerning the construction, validity, enforcement and interpretation
      of this Warrant shall be governed by and construed and enforced in accordance
      with the internal laws of the State of New York, without regard to the
      principles of conflicts of law thereof. Each party agrees that all legal
      proceedings concerning the interpretations, enforcement and defense of this
      Warrant and the transactions herein contemplated (“Proceedings”)
      (whether brought against a party hereto or its respective Affiliates, employees
      or agents) shall be commenced exclusively in the New York Courts. Each party
      hereto hereby irrevocably submits to the exclusive jurisdiction of the New
      York
      Courts for the adjudication of any dispute hereunder or in connection herewith
      or with any transaction contemplated hereby or discussed herein, and hereby
      irrevocably waives, and agrees not to assert in any Proceeding, any claim that
      it is not personally subject to the jurisdiction of any New York Court, or
      that
      such Proceeding has been commenced in an improper or inconvenient forum. Each
      party hereto hereby irrevocably waives personal service of process and consents
      to process being served in any such Proceeding by mailing a copy thereof via
      registered or certified mail or overnight delivery (with evidence of delivery)
      to such party at the address in effect for notices to it under this Warrant
      and
      agrees that such service shall constitute good and sufficient service of process
      and notice thereof. Nothing contained herein shall be deemed to limit in any
      way
      any right to serve process in any manner permitted by law. Each party hereto
      hereby irrevocably waives, to the fullest extent permitted by applicable law,
      any and all right to trial by jury in any legal proceeding arising out of or
      relating to this Warrant or the transactions contemplated hereby. If either
      party shall commence a Proceeding to enforce any provisions of this Warrant,
      then the prevailing party in such Proceeding shall be reimbursed by the other
      party for its attorney’s fees and other costs and expenses incurred with the
      investigation, preparation and prosecution of such Proceeding.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (c)  The
      headings herein are for convenience only, do not constitute a part of this
      Warrant and shall not be deemed to limit or affect any of the provisions
      hereof.

     

    (d)  In
      case
      any one or more of the provisions of this Warrant shall be invalid or
      unenforceable in any respect, the validity and enforceability of the remaining
      terms and provisions of this Warrant shall not in any way be affected or
      impaired thereby and the parties will attempt in good faith to agree upon a
      valid and enforceable provision which shall be a commercially reasonable
      substitute therefor, and upon so agreeing, shall incorporate such substitute
      provision in this Warrant.

     

    (e)  Prior
      to
      exercise of this Warrant, the Holder hereof shall not, by reason of by being
      a
      Holder, be entitled to any rights of a stockholder with respect to the Warrant
      Shares.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK,

    SIGNATURE
      PAGE FOLLOWS]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
      its
      authorized officer as of the date first indicated above.

     

    
      	 	 	 
	 	
              FIRST
                GROWTH INVESTORS, INC.

            
	 
 	 
 	 
 
	
            	By:  	/s/
              Gao
              Zhentao
	 	
              

              Name:
                Gao
                Zhentao

            
	 	
              Title:
                Director

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

 

    EXERCISE
      NOTICE

     

    FIRST
      GROWTH INVESTORS, INC. 

     

    WARRANT
      DATED MARCH __, 2008

     

    The
      undersigned Holder hereby irrevocably elects to purchase _____________ shares
      of
      Common Stock pursuant to the above referenced Warrant. Capitalized terms used
      herein and not otherwise defined have the respective meanings set forth in
      the
      Warrant.

     

    
      	
              (1)

            	
              The
                undersigned Holder hereby exercises its right to purchase
                _________________ Warrant Shares pursuant to the
                Warrant.

            

    

     

    
      	
              (2)

            	
              The
                Holder intends that payment of the Exercise Price shall be made as
                (check
                one):

            

    

     

    ____“Cash
      Exercise” under Section 10

     

    ____“Cashless
      Exercise” under Section 10

     

    
      	
              (3)

            	
              If
                the holder has elected a Cash Exercise, the holder shall pay the
                sum of
                $____________ to the Company in accordance with the terms of the
                Warrant.

            

    

     

    
      	
              (4)

            	
              Pursuant
                to this Exercise Notice, the Company shall deliver to the holder
                _______________ Warrant Shares in accordance with the terms of the
                Warrant.

            

    

     

    
      	
              (5)

            	
              By
                its delivery of this Exercise Notice, the undersigned is
                hereby making the same representations and warranties as of the date
                of
                exercise as those set forth in Section 16 of the Warrant. 

            

    

    

    
      	
              (6)

            	
              By
                its delivery of this Exercise Notice, the undersigned represents
                and
                warrants to the Company that in giving effect to the exercise evidenced
                hereby the Holder will not beneficially own in excess of the number
                of
                shares of Common Stock (determined in accordance with Section 13(d)
                of the
                Securities Exchange Act of 1934) permitted to be owned under Section
                11 of
                this Warrant to which this notice
                relates.

            

    

    
      	 	 	 
	
              Dated:
                _____________ ,
                ___

            	 	
              Name
                of Holder:

            
	 	 	 
	 	 	
              (Print)
                

              
                

              

            
	 	 	 
	 	 	
              By:
                

              
                

              

               

              Name:
                

              
                

              

               

              Title:
                

              
                

              

            
	 	 	
              (Signature
                must conform in all respects to name of holder as specified on the
                face of
                the Warrant)

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Warrant
      Shares Exercise Log

     

    
      	
              Date

            	 	
              Number
                of Warrant 

              Shares
                Available to be 

              Exercised

            	 	
              Number
                of Warrant Shares Exercised

            	
              Number
                of Warrant Shares Remaining to be Exercised

            
	 	 	 	 	 	 

    

      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    FIRST
      GROWTH INVESTORS, INC. 

    WARRANT
      DATED MARCH __, 2008

    WARRANT
      NO. ____

     

    FORM
      OF
      ASSIGNMENT

     

    [To
      be
      completed and signed only upon transfer of Warrant]

     

    FOR
      VALUE
      RECEIVED, the undersigned hereby sells, assigns and transfers unto
      ________________________________ the right represented by the above-captioned
      Warrant to purchase ____________ shares of Common Stock to which such Warrant
      relates and appoints ________________ attorney to transfer said right on the
      books of the Company with full power of substitution in the
      premises.

     

    Dated: _______________,
      ____

     

    
      	 	
               

            
	 	
              (Signature
                must conform in all respects to name of holder as specified on the
                face of
                the Warrant)

            
	 	 
	 	 
	 	
              Address
                of Transferee

            
	 	 
	 	 
	 	 

    

     

    
      In
        the
        presence of:

    

    __________________________

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