Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 24, 2009, the board of directors filled a current vacancy on the Company's board by the appointment of Ye Tian as a director. Mr. Tian is deemed by the board to be an independent director. The board also appointed Mr. Tian to the Company's Audit and Compensation Committees and appointed Mr. Tian as Chairman of the Company's Governance and Nominating Committee.

Mr. Tian is currently the CEO of Back In Time Ltd. and its wholly-owned subsidiary JOVI, a retail chain and lifestyle brand in China, the non-executive Chairman of Ying Dong Media, a movie/TV production and distribution company in China, and a General Partner of Media Plus, an investment company located in Beijing and focusing on Asia. Prior to his current work, from 2006 to 2007, Mr. Tian was a Director at Loeb Enterprises, an incubation company in New York, and from 2003 to 2005, he was an Analyst at Appian Corporation, a software company in Virginia. Mr. Tian holds a Bachelor of Arts degree in Applied Mathematics from Harvard University.

In connection with his appointment to the board, the Company granted Mr. Tian options to purchase 500,000 shares of Company's common stock, at an exercise price of $1.58 per share, the last sale price of the Company's common stock on the date of the grant. Mr. Tian will also be provided with the benefits of the Company indemnification agreement.