On December 23, 2016, the registrant issued a press release
announcing that, due to a recently adopted Chinese policy
relating to outbound investments by Chinese companies, it has
agreed with China-based Innovative Medical Management Co. Ltd.,
or Innovative, to extend the time of execution of the definitive
agreements relating to Innovatives proposed investment of
$30,000,000. Prior to the recently adopted Chinese policy
relating to outbound investments by Chinese companies, the
parties initially intended to enter into definitive agreements
relating to the proposed investment no later than December 26,
2016. As a result of the recently adopted Chinese policy, the
parties now plan to continue the discussions with respect to the
definitive agreements until they have received further
clarification about such policies, which is expected during the
first half of 2017.

The press release is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Warning Concerning Forward Looking Statements

This Current Report on Form 8-K contains forward-looking
statements within the meaning of the “safe harbor” provisions
of the Private Securities Litigation Reform Act of 1995 and
federal securities laws. These forward-looking statements
include, but are not limited to, those statements regarding the
registrants proposed private placement of its securities, the
expected timing of clarifications relating to the Chinese policy
relating to outbound investments by Chinese companies and the
plan of its intention to enter into definitive agreements. The
registrant may not be successful in negotiating definitive
documentation by the time period expected or at all, and even if
successful, the sale of securities may not be completed if the
conditions to closing such sale are not met. These
forward-looking statements and their implications are based on
the current expectations of the management of the registrant
only, and are subject to a number of factors and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. The forward-looking
statements contained in this Current Report on Form 8-K are
subject to risks and uncertainties, including those discussed in
the registrants reports filed from time to time with the SEC.
Except as otherwise required by law, the registrant undertakes no
obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances
after the date hereof or to reflect the occurrence of
unanticipated events.