On September 2, 2009, Mr. Jiancheng Fang, Mr. Jiang Chao and Mr. Chengning Zhang resigned from their positions as independent directors of T-Bay Holdings Inc. effective September 2, 2009. They have no disagreements with the Company nor is there any matter related to his resignation that needs to be brought before the Board of Directors or shareholders of the Company. The Board on September 3, 2009 appointed Mr. Xiangning Qin to serve as executive director and Mr. Zhaohui Xu as independent director of the Company effective September 3, 2009. Mr. Qin currently serves as the Chief Financial Officer of the Company. From 2000 to 2006, Mr. Qin was employed by Guangxi Liugong Machinery Co. Ltd. Mr. Xu holds a Master’s degree of accounting. From 1994 to 2005, Mr. Xu served as accountant and manager of financial department with Jiangxi Coal Mining Machinery Co. Ltd. successively. From 2005 till now, Mr. Xu serves as CFO of Shenzhen Xianxun Technology Co. Ltd.

On 06/29/2009, T-Bay Holdings, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.

On March 31, 2009, Mr. Jie Shi, the Chief Executive Officer of T-Bay Holdings Inc., resigned from his position and as a member of the Board of Directors effective March 31, 2009. Mr. Shi has no disagreements with the company nor is there any matter related to his resignation that needs to be brought before the Board of Directors or shareholders of the company. The Board appointed Mr. Mr. Xiaofeng Li to serve as the Chief Executive Officer of the company effective on April 1, 2009. On April 1, 2009, Mr. Albert Wai Chiu Leung, the Chief Financial Officer of the compmay, resigned from his position effective April 1, 2009. Mr. Leung has no disagreement with the company nor is there any matter related to his resignation that needs to be brought before the Board of Directors or shareholders of the company. The Board appointed Mr. Xiangning Qin to serve as the Chief Financial Officer of the company effective on April 1, 2009. Mr. Li currently serves as a member of the Board of Directors of the company and served as the Chief Executive Officer of the company from 2005 until June 2008. In April 2002, Mr. Li was appointed the Chairman of the Board of Shanghai Sunplus Communication Technology Co. Ltd. Mr. Qin currently serves as the Financial Director of Shanghai Sunplus Communication Technology Co. Ltd., which used to be a subsidiary of the company.