SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

SCHEDULE 13G

(Rule 13d-102)

 

INFORMATION TO BE INCLUDED IN THE STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)

 

(Amendment No. 1)*

 

 

China Pharma Holdings, Inc.

 

 

(Name of Issuer)

 

 

 

 

Common Stock, par value $0.001 per share

 

 

(Title of Class of Securities)

 

 

 

 

16941T104

 

 

(CUSIP Number)

 

 

 

 

December 31, 2006

 

 

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

o

Rule 13d-1(b)

 

x

Rule 13d-1(c)

 

 

o

Rule 13d-1(d)

*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 the disclosures provided in a prior cover page.

The information required in 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).

 

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

Page 2 of 6

 

 

 

 

 

 

1

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

The Pinnacle Fund, L.P., a Texas limited partnership

75-2512784

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

(a)

o

 

 

(b)

x

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

Texas

NUMBER OF

 

SHARES

 

BENEFICIALLY

 

OWNED BY EACH

 

REPORTING

 

PERSON WITH

 

5

SOLE VOTING POWER

 

Common Stock equal to less than 5%

 

6

SHARED VOTING POWER

 

0

 

7

SOLE DISPOSITIVE POWER

 

Common Stock equal to less than 5%

 

8

SHARED DISPOSITIVE POWER


0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

Common Stock equal to less than 5%

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                                                                                                          o

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

Less than 5%

 

12

TYPE OF REPORTING PERSON

 

PN

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

Page 3 of 6

 

 

 

 

 

 

1

 

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)

 

Barry M. Kitt

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

 

(a)

o

 

 

(b)

x

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

 

United States of America

NUMBER OF

 

SHARES

 

BENEFICIALLY

 

OWNED BY EACH

 

REPORTING

 

PERSON WITH

 

5

SOLE VOTING POWER

 

Common Stock equal to less than 5%

 

6

SHARED VOTING POWER

 

0

 

7

SOLE DISPOSITIVE POWER

 

Common Stock equal to less than 5%

 

8

SHARED DISPOSITIVE POWER


0

 

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

Common Stock equal to less than 5%

 

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES                                                                                                                         o

 

11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

Less than 5%

 

12

TYPE OF REPORTING PERSON

 

IN

 

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

Page 4 of 6

 

 

 

Item 1(a).

Name of Issuer:

China Pharma Holdings, Inc. (the "Issuer")

Item 1(b).

Address of Issuer’s Principal Executive Offices:

2nd Floor, No. 17, Jinpan Road

Haikou, Hainan Province, China

 

Items 2(a),

(b) and (c).

Name of Persons Filing, Address of Principal Business Office and

Citizenship:

This Amendment No. 1 to Schedule 13G is being filed on behalf of The Pinnacle Fund, L.P. and Barry M. Kitt, as joint filers (collectively, the "Reporting Persons").

The Reporting Persons have entered into a Joint Filing Agreement, a copy of which is filed with this Amendment No. 1 to Schedule 13G as Exhibit 1, pursuant to which the Reporting Persons have agreed to file this Amendment No. 1 to Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Securities Exchange Act of 1934, as amended.

The principal business office of the Reporting Persons is 4965 Preston Park Blvd., Suite 240, Plano, TX 75093. For citizenship, see Item 4 of each cover page.

Item 2(d).

Title of Class of Securities:

Common Stock, par value $0.001 per share (the "Common Stock")

 

Item 2(e).

CUSIP Number:

16941T104

Item 3.

Not applicable

Item 4.

Ownership.

 

 

 

(a)

Amount beneficially owned:

 

Common Stock equal to less than 5%

 

 

(b)

Percent of class:

 

Less than 5%

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

Page 5 of 6

 

 

 

 

 

(c)

Number of shares to which such person has:

   

 

(i)

Sole power to vote or direct the vote: Less than 5%

   

 

(ii)

Shared power to vote or direct the vote: 0

   

 

(iii)

Sole power to dispose or to direct the disposition of: Less than 5%

   

 

(iv)

Shared power to dispose of or direct the disposition of: 0

 

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following x

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported By the Parent Holding Company.

Not applicable

 

Item 8.

Identification and Classification of Members of the Group.

Not applicable

Item 9.

Notice of Dissolution of a Group.

Not applicable

Item 10.

Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

Page 6 of 6

 

 

 

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.

Dated:

February 14, 2007

 

 

THE PINNACLE FUND, L.P.

 

By:

Pinnacle Advisers, L.P., its general partner

 

By:

Pinnacle Fund Management, LLC, its general partner

 

 

 

 

 

 

 

By:

/s/ Barry M. Kitt

 

 

Barry M. Kitt, its manager

 

 

 

 

 

 

 

 

 

/s/ Barry M. Kitt

 

Barry M. Kitt

 

 

 

SCHEDULE 13G

CUSIP NO. 16941T104

 

 

Exhibit 1

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a statement on Schedule 13G (including amendments thereto) with respect to certain shares of Common Stock of China Pharma Holdings, Inc. and further agree that this Joint Filing Agreement shall be included as an exhibit to such joint filings.

 

The undersigned further agree that each party hereto is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; provided, however, that no party is responsible for the completeness or accuracy of the information concerning any other party making the filing, unless such party knows or has reason to believe that such information is inaccurate.

 

IN WITNESS WHEREOF, the parties have executed this Joint Filing Agreement on February 14, 2007.

 

 

THE PINNACLE FUND, L.P.

 

By:

Pinnacle China Advisers, L.P., its general partner

 

By:

Pinnacle China Management, LLC, its general partner

 

 

 

 

 

 

 

By:

/s/ Barry M. Kitt

 

 

Barry M. Kitt, its manager

 

 

 

 

 

 

 

 

/s/ Barry M. Kitt

 

Barry M. Kitt