Amendment to 3% Convertible Promissory Note Between China America Holdings, Inc., China Direct Investments, Inc., and Capital One Resources, Ltd. (September 30, 2011)

Summary

China America Holdings, Inc. issued a $11,075,206 convertible promissory note at 3% interest to China Direct Investments, Inc. and Capital One Resources, Ltd. as compensation for consulting services. This amendment, dated September 30, 2011, states that China Direct Investments, Inc. and Capital One Resources, Ltd. agree to forgive all accrued interest on the note from its issuance through its maturity date. The principal amount remains due, but no interest will be owed.

EX-10.36 3 exh10-36.htm AMENDMENT DATED SEPTEMBER 30, 2011 TO 3% CONVERTIBLE PROMISSORY NOTE DATED JUNE 30, 2011 BETWEEN CHINA AMERICA HOLDINGS, INC. AND CHINA DIRECT INVESTMENTS, INC. AND CAPITAL ONE RESOURCES, LTD. exh10-36.htm

Exhibit 10.36

September 30, 2011

Lingbo Chi

Chairman and Chief Executive Officer

China America Holdings, Inc.

Xi Lv Biao Industrial Park, Longdu Street,

Zhucheng City, Shangdong Province,

China 262200

Re: Forgiveness of the interest associated with 3% Convertible Promissory Note $11,075,206 dated on June 30, 2011

Dear Mr. Chi,

On June 13, 2011 China Direct Investments, Inc. and Capital One Resources, Ltd. (collectively, “CDII”) entered into a consulting agreement with China America Holdings, Inc. (“CAAH”).

As compensation for services under this agreement, CAAH issued CDII a convertible promissory note in the principal amount of $11,075,206 bearing the interest at the rate of 3% per annum (“Convertible Note”).

CDII hereby agrees to forgive all and any accrued interest on the Convertible Note from date of the Convertible Note through and until the Maturity Date as provided for in the Convertible Note

Regards,

China Direct Investments, Inc.

/s/ James Wang

James Wang, Ph.D.

Chairman and CEO

Capital One Resources, Ltd.

/s/ Robert Zhuang

Robert Zhuang

Genereal Manager