UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _____)*
(Name of Issuer)
China Sky One Medical, Inc.
(Title of Class of Securities)
Common
(CUSIP Number)
16941P102
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
David Hill
Pope Asset Management, LLC
5100 Poplar Avenue Suite 805
Memphis TN 38137
901-763-4001
(Date of Event which Requires Filing of this Statement) 12/31/2009
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject
of this Schedule 13D, and is filing this schedule
because of 240.13d-1(e), 240.13d-1(f)
or 240.13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule,
including all exhibits. See 240.13d-7 for other parties
to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the
subject class of securities, and for any subsequent
amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to
the liabilities of that section of the Act but
shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No 16941P102
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Pope Asset Management LLC 62-1871308
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3.
SEC Use Only
4.
Source of Funds (See Instructions) OO
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Tennessee USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 729100
8.
Shared Voting Power 729100
9.
Sole Dispositive Power 729100
10.
Shared Dispositive Power 729100
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
729100
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 4.38%
14.
Type of Reporting Person (See Instructions)
IA
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Pope Investments LLC 203955985
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3.
SEC Use Only
4.
Source of Funds (See Instructions) OO
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Delaware, USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 24700
8.
Shared Voting Power 24700
9.
Sole Dispositive Power 24700
10.
Shared Dispositive Power 24700
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
24700
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 0.15%
14.
Type of Reporting Person (See Instructions)
00
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Pope Investments II LLC 260281944
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3.
SEC Use Only
4.
Source of Funds (See Instructions) OO
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Delaware, USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 686000
8.
Shared Voting Power 686000
9.
Sole Dispositive Power 686000
10.
Shared Dispositive Power 686000
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
686000
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 4.12%
14.
Type of Reporting Person (See Instructions)
00
1.
Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
William P. Wells 426961338
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b)
3.
SEC Use Only
4.
Source of Funds (See Instructions) OO
5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
6.
Citizenship or Place of Organization Tennessee USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
7.
Sole Voting Power 729100
8.
Shared Voting Power 729100
9.
Sole Dispositive Power 729100
10.
Shared Dispositive Power 729100
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
729100
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
13.
Percent of Class Represented by Amount in Row (11) 4.38%
14.
Type of Reporting Person (See Instructions)
IN
Item
1.
Security and Issuer
Common shares of China Sky One Medical, Inc. whose principal address is
No 38 Dingxin 3rd Street, Nangang District
Harbin, China 150001.
Item
2.
Identity and Background
(a)
This 13-D Form is filed by and on behalf of: (i) Pope Asset
Management, LLC, a Tennessee limited liability
company ("Pope Asset"), (ii) Pope Investments LLC,
a Delaware limited liability company
("Pope Investments"); (iii) Pope Investments II LLC ("Pope II"),
a Delaware limited liability company; and (iv) William P. Wells ("Mr. Wells").
Pope Asset is a registered investment adviser and serves as an investment
adviser and/or manager to various persons, including Pope Investments and
Pope II.
Pope Asset is the sole manager for Pope Investments and Pope II and has sole
voting control and investment and disposition power and discretion with
respect to all securities held by Pope Investments and Pope II. The
securities of the issuer reported in this statement were purchased at various
times by Pope Asset, in its capacity as the sole
manager of Pope Investments and Pope II, for the account of and in the name of
Pope Investments, Pope II and various other persons. Pope Asset may
be deemed
to beneficially own shares owned and/or held by and for the account of and/or
benefit of various persons, including Pope Investments and Pope II.
Mr. Wells
is the sole manager of Pope Asset.
Mr. Wells may be deemed to own shares owned and/or held by and/or for the
account of and/or benefit of Pope Investments, Pope II and various other
persons.
Pope Asset, Pope Investments, Pope II and Mr. Wells each declare that neither
the filing of this statement nor anything herein shall be
construed as an admission that such
reporting person is,for the purposes of
Section 13(d) or 13 (g) of the Act or any other
purpose, the beneficial owner of any securities
covered by this statement. Each of Pope Asset, Pope Investments, Pope II,
and Mr. Wells may be deemed to be a member of a group with respect
to the issuer or securities of the issuer for the purposes of
Section 13(d) or 13(g) of the Act.
Each of Pope Asset, Pope Investments, Pope II, and Mr. Wells declare that
neither the filing of this statement nor anything herein shall be
construed as an admission that such person is, for the purposes of
Section 13(d) or 13(g) of the Act or any other purpose, (i) acting
(or has agreed or is agreeing to act together with any other person)
as a partnership, limited partnership, syndicate, or other group for
the purpose of acquiring, holding, or disposing of securities of the
issuer or otherwise with respect to the issuer or any securities of
the issuer, or (ii) a member of any group with respect tothe issuer
or any securities of the issuer. Pope Investments, Pope II, Pope Asset and
Mr. Wells have entered into a Joint Filing Agreement, a copy of
which is filed with this statement as Exhibit 99.1,
pursuant to which they have agreed to file this Schedule
13D jointly in accordance with the provisions
of Rule 13d-1(k) of the Act.
(b)
5100 Poplar Avenue, Suite 805, Memphis, TN 38137
(c)
See Item 2a above.
(d)
not applicable
(e)
not applicable
(f)
Citizenship. Pope Asset in a Tennessee limited liability company.
Pope Investments and Pope II are both Delaware limited liability companies.
Mr. Wells is a United States citizen.
Item
3.
Source and Amount of Funds or Other Consideration
The source of all funds invested in China Sky One Medical, Inc.
were funds from Pope Investments, Pope II, and various other persons
managed by Pope Asset. The initial transaction in securities of the issuer
consisted of the Common Stock and Warrants to purchase stock of China
Sky One Medical, Inc. The parties to the initial transaction included:
Vision Opportunity China, L.P., Whitebox Intermarket Parnters, LP.,
Straus Partners LP, Straus-GEPT Partners LP, Professional Offshore
Opportunity Fund, Ltd., John Peter Selda, Paul Masters IRA, Jason
Pettigrew, Hua-Mei 21st Century Partners, LP, Investment Hunter, LLC,
Jayhawk Private Equity Co-Invest Fund, LP, Jayhawk Private Equity Fund, LP,
George Loxsom, Guerilla Partners, LP, and Heller Capital Investments, LLC
(collectively, the "Buyers" and each a "Buyer").
No part of the purchase price paid by Pope Investments, Pope II, and Pope
Asset
with respect to the transactions noted above and subsequent purchases
is represented by funds or other consideration borrowed or otherwise
obtained for
purpose of acquiring, holding, trading or voting the securities.
The amount of funds invested by Pope Investments, Pope II, and Pope Asset
were
acquired by a series of transactions from
January 2008 to December 2009.
The source of all additional funds invested in China Sky One Medical, Inc.
were funds from Pope Investments,Pope II and Pope Asset. No part of the
purchase price paid by Pope Investments, Pope II, and Pope Asset for the
additional securities of the issuer is represented by funds or other
consideration borrowed or otherwise obtained for purpose of acquiring,
holding, trading or voting the securities.
Item
4.
Purpose of Transaction
The purpose of all of the acquisition of securities of the issuer
was and remains to be for investment purposes only.
Describe any plans or proposals which the reporting persons may have which
relate to or would result in:
(a) The Reporting Persons currently have no plan or intent to acquire
additional securities of the issuer, but may do so as the opportuntiy arises.
The Reporting Persons have no current intent to sell securities of the
issuer, but may do so as the opportunity arises. Pope Investments has
certain registration rights granted by the issuer with respect to
securities of the issuer which it holds or may acquire or holds or
may acquire upon exercise of warrants.
(b) Not Applicable.
(c) Not Applicable
(d) Not Applicable.
(e) Not Applicable.
(f) Not Applicable.
(g) Not Applicable.
(h) Not Applicable.
(i) Not Applicable.
(j) The Reporting Persons are engaged in the investment business.
In pursuing this business, the Reporting Persons analyze the operations,
capital structure and markets of companies, including the issuer, on a
continuous basis through analysis of documentation and discussions
with knowledgeable industry and market observers and with representatives
of such companies, including without limitation, the issuer.
From time to time one or more of the Reporting Persons may hold
discussions with third parties or with management of such companies
in which the Reporting Person may suggest or take a position or offer
advice with respect to potential changes in the operations, management or
capital structure of such companies as a means of enhancing
shareholder value. Such suggestions or positions may relate
to one or more of the transactions specified in clauses
(a) through (j) of this Item 4, including without limitation,
such matters as disposing of or selling all or a portion of
the company or acquiring another company
or business, changing operating or marketing strategies,
adopting or not adopting certain types of anti-takeover
measures and restructuring the issuers capitalization or dividend policy.
Except as set forth above in this Item 4, the Reporting Persons
do not have any present plans or proposals that relate to or would
result in any of the actions required to be described in this Item 4.
Each of the Reporting Persons may, at any time, review or reconsider
its position with respect to the issuer and formulate plans or proposals
with respect to any of such matters, but has no present intention of doing so.
Item
5.
Interest in Securities of the Issuer
(a) As of the date hereof,
Pope Asset beneficially owns 729,100 shares
(not assuming the exercise of the warrants
as described below), or about 4.38%, of the issuer's common stock.
The calculation of the foregoing
percentage is on the basis of 16,661,423 shares of the issuer's
common stock outstanding as disclosed in the issuer's
Form 10-Q for the quarter ended September 30, 2009. Pope Asset,
as the manager of Pope Investments and Pope II, may also be deemed
to beneficially own the above described securities of the issuer
owned by Pope Investments and Pope II.
Pope Investments beneficially owns 24,700
shares of the issuer's common stock, or approximately 0.15%.
The calculation of the foregoing
percentage is on the basis of 16,661,423 shares of the issuer's
common stock outstanding as disclosed in the issuer's
Form 10-Q for the quarter ended September 30, 2009.
Pope II owns (i) 686,000 shares of
the issuer's common stock and (ii) warrants which may be
exercised for a total of 321,000 shares of the issuer's
common stock. Therefore, Pope II
may be deemed to beneficially own 1,000,700 shares of the issuer's
common stock which represents approximately 6.00% of the issuer's
outstanding common stock (assuming the full exercise of the warrants).
The calculation of the foregoing percentage is on the
basis of 16,661,423 shares of the issuer's common stock
outstanding as disclosed in the issuer's
Form 10-Q for the quarter ended September 30, 2009.
Mr. Wells, as the manager of Pope Asset, may also be deemed to
beneficially own the above-described securities of the issuer
beneficially owned by Pope Asset.The foregoing should not
be construed in and of itself as an admission by Pope Asset
or Mr. Wells as to the beneficial ownership of securities of the
issuer held by Pope Investments and Pope II.
(b) Pope Investments may be deemed to hold shared power to
vote and to dispose of the 24,700 shares of common stock
described in (a) above. Pope II may be deemed to hold shared
power to vote and to dispose of the 1,000,700 shares
(assuming full exercise of the warrants) of common stock
described in (a) above. Pope Asset and Mr. Wells may be deemed
to hold shared power to vote and to dispose of the 1,050,100
shares of the issuer's common stock described in (a) above.
The foregoing should not be construed in and of itself as an
admission by Pope Asset or Mr. Wells as to the beneficial ownership
of the securities of the issuer held by Pope Investments and Pope II.
(c) (i) Buys: Pope Asset, December 1, 2009, 900 shares, 14.018 per share;
Pope Asset, December 15, 2009, 500 shares, 14.018 per share. (ii) Sells:
Pope II, including all of the following:
December 18, 2009, 24,579 shares, 19.96 per share;
December 21, 2009, 100,000 shares, 21.13 per share;
December 22, 2009, 25,000 shares, 21.12 per share;
December 23, 2009, 21,000 shares, 20.95 per share;
December 24,2009, 70,263 shares, 23.00 per share;
December 28, 2009, 63,770 shares, 24.53 per share;
December 29, 2009, 11,967 shares, 24.07 per share;
December 30, 2009, 14,000 shares, 22.57 per share;
December 31, 2009, 33,000 shares, 22.91 per share;
January 4, 2010, 30,853 shares, 23.21 per share;
January 5, 2010, 25,847 shares, 23.83 per share;
January 6, 2010, 1,800 shares, 23.45 per share;
January 7, 2010, 15,881 shares, 22.85 per share;
January 8, 2010, 16,715 shares, 22.86 per share;
January 10, 2010, 65,604 shares, 22.53 per share;
January 12, 2010, 24,000 shares, 22.03 per share;
January 13, 2010, 25,000 shares, 20.79 per share;
January 14, 2010, 25,000 shares, 20.47 per share;
January 15, 2010, 21,047 shares, 20.14 per share;
January 19, 2010, 58,953 shares, 21.72 per share;
January 22, 2010, 1,606 shares, 19.62 per share;
January 25, 2010, 3,899 shares, 19.50 per share;
January 26, 2010, 9,550 shares, 18.96 per share;
January 28, 2010, 11,551 shares, 19.02 per share;
February 2, 2010, 3,074 shares, 18.94 per share.
(d) No person other than the Reporting Persons is known to have
the right to receive, or the power to direct the receipt of,
dividends from,or proceeds from the sale of, the shares
of issuer's common stock reported in this statement.
(e) December 28, 2009.
Pope Asset and Mr. Wells do not directly own any shares of the
issuer's Common Stock. Pope Asset is the sole Manager of Pope
Investments and Pope II. Mr. Wells is the Manager of Pope Asset.
Pope Asset may be deemed to beneficially own shares owned
and/or held by and for the account of and/or benefit
of various persons, including Pope Investments and Pope II.
Mr. Wells may be deemed to own shares owned
and/or held by and/or for the account of and/or benefit
of Pope Investments and Pope II. Each of the reporting persons declares
that neither the filing of this statement nor anything
herein shall be construed as an admission that
such reporting person is, for the purposes of Section
13(d) or 13(g) of the Act or any other purpose,
the beneficial owner of any securities
covered by this statement.
Item
6.
Contracts, Arrangements, Understandings or
Relationships with Respect to Securities
of the Issuer
None.
Item
7.
Material to Be Filed as Exhibits
Exhibit "A": Joint filing Agreement, dated as of February 12, 2010,
by and among Pope Investments, Pope II, Pope Asset and Mr. Wells.
Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Date February 16, 2010
JOINT FILING AGREEMENT
This will conform the agreement by and among the undersigned
that the Schedule 13D filed with the Securities and Exchange
Commission on or about the date hereof with respect to the beneficial
ownership by the undersigned of the Common Stock, $.001 par value,
of China Sky One Medical, Inc., is being filed, and all amendments
thereto will be filed, on behalf of each of the persons and entities
named below in a accordance with Rule 13d-1(k) under the Securities
Exchange Act of 1934, as amended. This Agreement may be executed in
two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.
Dated: February 16, 2010
POPE ASSET MANAGEMENT, LLC
By:Pope Asset Management, LLC, /s/William P. Wells, Manager
By:Pope Investments LLC /s/William P. Wells, Managing Member
By:Pope Investmetns II LLC /s/William P. Wells, Managing Member
By:WILIAM P. WELLS /s/William P. Wells Signature
Signature
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement
is true, complete and correct.