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The Corporation Should Not Be Dissolved because:

1. In SEC Admin Case No. 03-10-06, a case for Revocation of Corporate Registration of
Carebest International, Inc., the Securities and Exchange Commission said, Under Sec
Resolution 235 series of 2002, we mandated that cases for cancellation of corporate
franchises should be handled by the CRMD.
a. The CRMD shall handle said cases based on the following grounds:
i. Continuous inoperation for a period of at least five(5) years;
ii. Failure to file by-laws within the required period
iii. Failute to file the required reports in appropriate forms as determined by
the Commission within the prescribed period.

The rationale for this resolution is that the CRMD has the technical
expertise and specialized knowledge necessary in determining the
existence of facts relevant to the alleged non use of charter or
continuous in-operation of Carebest International, Inc.

Further, the case is hereby REMANDED to the Company Registration


and Monitoring Department for further proceedings in order to
determine if factual basis exists for the revocation of respondents
certificate of registration on the ground of non-use of charter or
continuous in-operation.

Thus in the like manner, and in line with every Corporations right to due process, we
believe that the Corporation is NOT DISSOLVED due that it has to first be determined by the
CRMD under a proceeding to determine whether there is a ground for revocation of
respondents certificate of registration. Mere delisting cannot be said to be a dissolution of
the corporation.