UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~February~~May 2931, 2012

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission file number: 000-53875

~~EMERGING~~BAMA ~~GROWTH ACQUISITIONS I~~BIOTECH, INC.

(Exact name of registrant as specified in its charter)

Nevada		27-3492854
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)
250 Park Avenue, 7th Floor New York, New York		10177
No.29, 448 Minzu Road, Bama County, Bama Yaozu Autonomous County, Guangxi Province, China		N/A
(Address of principal executive offices)		(Zip Code)

~~(212) 705~~86-~~4293~~778-621-1529

(Registrant’s telephone number, including area code)

N/A

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o Accelerated filer o

Non-accelerated filer o (Do not check if a smaller reporting company) Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes x No o

As of ~~April~~July 513, 2012, there were 100,000 shares of Common Stock, par value $0.001 per share, outstanding.

~~EMERGING~~BAMA ~~GROWTH ACQUISITIONS 1~~BIOTECH, INC.

QUARTERLY REPORT ON FORM 10-Q

~~February~~May 2931, 2012

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
		PAGE
Item 1.	Financial Statements	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	1514
Item 4.	Controls and Procedures	15
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	1615
Item 1A.	Risk Factors	1615
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	1615
Item 3.	Defaults Upon Senior Securities	1615
Item 4.	Mine Safety Disclosure	1615
Item 5.	Other Information	1615
Item 6.	Exhibits	16
SIGNATURES		17

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

~~EMERGING~~BAMA ~~GROWTH ACQUISITIONS I~~BIOTECH, INC.

(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

(A DEVELOPMENT STAGE COMPANY)

CONTENTS

PAGE	21	CONDENSED BALANCE SHEETS AS OF ~~FEBRUARY~~MAY 2931, 2012, (UNAUDITED) AND AS OF AUGUST 31, 2011
PAGE	32	CONDENSED ~~STATEMENT~~STATEMENTS OF OPERATIONS FOR THE THREE AND ~~SIX~~NINE MONTHS ENDED ~~FEBRUARY~~MAY 2931, 2012 AND ~~FEBRUAURY 28,~~ 2011 AND FOR THE PERIOD FROM JULY 19, 2010 (INCEPTION) TO ~~FEBRUARY~~MAY 2931, 2012 (UNAUDITED)
PAGE	43	CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS’ DEFICIENCY FOR THE PERIOD FROM JULY 19, 2010 (INCEPTION) TO ~~FEBRUARY~~MAY 2931, 2012 (UNAUDITED)
PAGE	54	CONDENSED STATEMENTS OF CASH FLOWS FOR THE ~~SIX~~NINE MONTHS ENDED ~~FEBRUARY~~MAY 2931, 2012 AND ~~FEBRUARY 28,~~ 2011 AND FOR THE PERIOD FROM JULY 19, 2010 (INCEPTION) TO ~~FEBRUARY~~MAY 2931, 2012 (UNAUDITED)
PAGES	65 - 10	NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

Bama Biotech, Inc.
(f/k/a Emerging Growth Acquisitions I, Inc.)
(A Development Stage Company)
Condensed Balance Sheets




ASSETS
	May 31, 2012			August 31, 2011
	(Unaudited)

Total Assets	$	-		$	-

LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current Liabilities
Accounts Payable	$	300		$	10,755
Note Payable		3,125			-
Note Payable - Related Party		-			5,300
Total Liabilities		3,425			16,055

Commitments and Contingencies		-			-

Stockholders' Deficiency
Preferred stock, $0.001 par value; 500,000,000 shares authorized,
none issued and outstanding	$	-		$	-
Common stock, $0.001 par value; 1,000,000,000 shares authorized, 100,000 shares and 100,000 shares
issued and outstanding, respectively		100			100
Additional paid-in capital		64,207			29,211
Deficit accumulated during the development stage		(67,732	)		(45,366	)
Total Stockholders' Deficiency		(3,425	)		(16,055	)

Total Liabilities and Stockholders' Deficiency	$	-		$	-

See accompanying notes to condensed unaudited financials statements

Emerging Growth Acquisitions I, Inc.
Bama Biotech, Inc.
(A Development Stage Company)
(f/k/a Emerging Growth Acquisitions I, Inc.)
Condensed Balance Sheets
(A Development Stage Company)
ASSETS
Condensed Statements of Operations
	February 29, 2012			August 31, 2011
(Unaudited)
	(Unaudited)
	For the Three Months Ended						For the Nine Months Ended						For the period from July 19, 2010(Inception) to
Total Assets	$	-		$	-
	May 31, 2012			May 31, 2011			May 31, 2012			May 31, 2011			May 31, 2012
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Operating Expenses
Current Liabilities
Professional fees	$	12,200		$	2,182		$	13,100		$	9,995		$	24,833
Accounts Payable	$	11,755		$	10,755
General and administrative		6,936			7,500			20,036			22,724			53,458
Loans Payable - Related Party		5,300			5,300
Vendor settlement		(10,966	)		-			(10,966	)		-			(10,966	)
Total Liabilities		17,055			16,055
Total Operating Expenses		8,170			9,682			22,170			32,719			67,325
Commitments and Contingencies		-			-
Loss from Operations		(8,170	)		(9,682	)		(22,170	)		(32,719	)		(67,325	)
Stockholders' Deficiency
Other Income/(Expense)
Preferred stock, $0.001 par value; 10,000,000 shares authorized,
Interest expense		(37	)		(80	)		(196	)		(128	)		(407	)
none issued and outstanding	$	-		$	-
Total Other Income/(Expense)		(37	)		(80	)		(196	)		(128	)		(407	)
Common stock, $0.001 par value; 100,000,000 shares authorized, 100,000 shares and 100,000 shares
LOSS FROM OPERATIONS BEFORE INCOME TAXES		(8,207	)		(9,762	)		(22,366	)		(32,847	)		(67,732	)
issued and outstanding, respectively		100			100
Provision for Income Taxes		-			-			-			-			-
Additional paid-in capital		42,370			29,211
NET LOSS	$	(8,207	)	$	(9,762	)	$	(22,366	)	$	(32,847	)	$	(67,732	)
Deficit accumulated during the development stage		(59,525	)		(45,366	)
Net Loss Per Share - Basic and Diluted	$	(0.08	)	$	(0.10	)	$	(0.22	)	$	(0.33	)
Total Stockholders' Deficiency		(17,055	)		(16,055	)
Weighted average number of shares outstanding		100,000			100,000			100,000			100,000
Total Liabilities and Stockholders' Deficiency	$	-		$	-
during the period - Basic and Diluted

See accompanying notes to condensed unaudited ~~financial~~financials statements

Emerging Growth Acquisitions I, Inc.
Bama Biotech, Inc.
(A Development Stage Company)
(f/k/a Emerging Growth Acquisitions I, Inc.)
Condensed Statements of Operations
(A Development Stage Company)
(Unaudited)
Condensed Statement of Changes in Stockholders' Deficiency
	For the Three Months Ended						For the Six Months Ended						For the period from July 19, 2010(Inception) to
For the period from July 19, 2010 (Inception) to May 31, 2012
	February 29, 2012			February 28, 2011			February 29, 2012			February 28, 2011			February 29, 2012
(Unaudited)
Operating Expenses
																Deficit
Professional fees	$	-		$	2,038		$	900		$	7,813		$	12,633
	Preferred stock						Common stock						Additional			accumulated during the			Total
General and administrative		6,500			7,730			13,100			15,224			46,522
													paid-in			development			Stockholders'
Total Operating Expenses		6,500			9,768			14,000			23,037			59,155
	Shares			Amount			Shares			Amount			capital			stage			Deficiency
Loss from Operations		(6,500	)		(9,768	)		(14,000	)		(23,037	)		(59,155	)
Balance July 19, 2010		-		$	-			-		$	-		$	-		$	-		$	-
Other Expense
Common stock issued for services to founders ($0.001 per share)		-			-			100,000			100			-			-			100
Interest Expense		(79	)		(37	)		(159	)		(48	)		(370	)
In kind contribution of services		-			-			-			-			3,000			-			3,000
Total Other Expense		(79	)		(37	)		(159	)		(48	)		(370	)
In kind contribution of interest		-			-			-			-			3			-			3
LOSS FROM OPERATIONS BEFORE INCOME TAXES		(6,579	)		(9,805	)		(14,159	)		(23,085	)		(59,525	)
Net loss for the period July 19, 2010 (Inception) to August 31, 2010		-			-			-			-			-			(3,828	)		(3,828	)
Provision for Income Taxes		-			-			-			-			-
Balance, August 31, 2010		-			-			100,000			100			3,003			(3,828	)		(725	)
NET LOSS	$	(6,579	)	$	(9,805	)	$	(14,159	)	$	(23,085	)	$	(59,525	)
In kind contribution of services		-			-			-			-			26,000			-			26,000
Net Loss Per Share - Basic and Diluted	$	(0.07	)	$	(0.10	)	$	(0.14	)	$	(0.23	)	$	(0.60	)
In kind contribution of interest		-			-			-			-			208			-			208
Weighted average number of shares outstanding		100,000			100,000			100,000			100,000			100,000
Net loss for the year ended August 31, 2011		-			-			-			-			-			(41,538	)		(41,538	)
during the period - Basic and Diluted
Balance, August 31, 2011		-			-			100,000			100			29,211			(45,366	)		(16,055	)
In kind contribution of services		-			-			-			-			15,800			-			15,800
In kind contribution of interest		-			-			-			-			196			-			196
Loans forgiven by principal stockholders		-			-			-			-			7,750			-			7,750
Payment of accounts payable by a related party on Company's behalf		-			-			-			-			11,250			-			11,250
Net loss for the nine months ended May 31, 2012		-			-			-			-			-			(22,366	)		(22,366	)
Balance, May 31, 2012		-		$	-			100,000		$	100		$	64,207		$	(67,732	)	$	(3,425	)

See accompanying notes to condensed unaudited ~~financial~~financials statements

Emerging Growth Acquisitions I, Inc.
Bama Biotech, Inc.
(A Development Stage Company)
(f/k/a Emerging Growth Acquisitions I, Inc.)
Condensed Statement of Changes in Stockholders' Deficiency
(A Development Stage Company)
For the period from July 19, 2010 (Inception) to Febuary 29, 2012
Condensed Statements of Cash Flows
(Unaudited)
														Deficit
	For the Nine Months Ended						For the period from July 19, 2010(Inception) to
	Preferred Stock						Common stock					Additional		accumulated during the			Total
	May 31, 2012			May 31, 2011			May 31, 2012
												paid-in		development			Stockholders'
Cash Flows Used in Operating Activities:
	Shares			Amount			Shares			Amount		capital		stage			Deficiency
Net Loss	$	(22,366	)	$	(32,847	)	$	(67,732	)
Balance July 19, 2010		-		$	-			-		$	-	$	-	$	-		$	-
Adjustments to reconcile net loss to net cash used in operations
Common stock issued for services to founders ($0.001 per share)		-			-			100,000			100		-		-			100
In-kind contribution of services		15,800			19,500			44,800
In kind contribution of services		-			-			-			-		3,000		-			3,000
In-kind contribution of interest		196			128			407
In kind contribution of interest		-			-			-			-		3		-			3
Shares issued to founder for services		-			-			100
Net loss for the period July 19, 2010 (Inception) to August 31, 2010		-			-			-			-		-		(3,828	)		(3,828	)
Changes in operating assets and liabilities:
Balance, August 31, 2010		-			-			100,000			100		3,003		(3,828	)		(725	)
Increase in accounts payable and accrued expenses		(10,455	)		8,644			300
In kind contribution of services		-			-			-			-		26,000		-			26,000
Net Cash Used In Operating Activities		(16,825	)		(4,575	)		(22,125	)
In kind contribution of interest		-			-			-			-		208		-			208
Cash Flows From Financing Activities:
Net loss for the year ended August 31, 2011		-			-			-			-		-		(41,538	)		(41,538	)
Contribution of capital by principal stockholder		11,250			-			11,250
Balance, August 31, 2011		-			-			100,000			100		29,211		(45,366	)		(16,055	)
Proceeds from note payable		3,125			-			3,125
In kind contribution of services		-			-			-			-		13,000		-			13,000
Proceeds from note payable- Related party		2,450			4,575			7,750
In kind contribution of interest		-			-			-			-		159		-			159
Net Cash Provided by Financing Activities		16,825			4,575			22,125
Net loss for the six months ended February 29, 2012		-			-			-			-		-		(14,159	)		(14,159	)
Net Increase in Cash		-			-			-
Balance, February 29, 2012		-		$	-			100,000		$	100	$	42,370	$	(59,525	)	$	(17,055	)
Cash at Beginning of Period		-			-			-
Cash at End of Period	$	-		$	-		$	-
Supplemental disclosure of cash flow information:
Cash paid for interest	$	-		$	-		$	-
Cash paid for taxes	$	-		$	-		$	-
Supplemental disclosure of non-cash investing and financing activities:
On April 5, 2012, the Company's former principal stockholder forgave loans of $7,750 upon completion of the change in control. The forgiven loans were treated as contribution to additional paid in capital.

See accompanying notes to condensed unaudited ~~financial~~financials statements

Emerging Growth Acquisitions I, Inc.
(A Development Stage Company)
Condensed Statements of Cash Flows
(Unaudited)
	For the Six Months Ended						For the period from July 19, 2010(Inception) to
	February 29, 2012			February 28, 2011			February 29, 2012
Cash Flows Used in Operating Activities:
Net Loss	$	(14,159	)	$	(23,085	)	$	(59,525	)
Adjustments to reconcile net loss to net cash used in operations
In-kind contribution of services		13,000			13,000			42,000
In-kind contribution of interest		159			48			370
Shares issued to founder for services		-			-			100
Changes in operating assets and liabilities:
Increase in accounts payable and accrued expenses		1,000			5,462			11,755
Net Cash Used In Operating Activities		-			(4,575	)		(5,300	)
Cash Flows From Financing Activities:
Proceeds from loan payable- Related party		-			4,575			5,300
Net Cash Provided by Financing Activities		-			4,575			5,300
Net Increase in Cash		-			-			-
Cash at Beginning of Period		-			-			-
Cash at End of Period	$	-		$	-		$	-
Supplemental disclosure of cash flow information:
Cash paid for interest	$	-		$	-		$	-
Cash paid for taxes	$	-		$	-		$	-

BAMA BIOTECH, INC.

~~See~~(f/k/a ~~accompanying~~EMERGING ~~notes~~GROWTH toACQUISITIONS ~~condensed~~I, ~~unaudited financial statements~~INC.)

EMERGING GROWTH ACQUISITIONS I, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF ~~FEBRUARY~~ 29MAY 31, 2012

(UNAUDITED)

NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION

(A) Basis of Presentation.

~~Emerging~~Bama ~~Growth Acquisitions I~~Biotech, Inc., (a development stage company) (the "Company") was incorporated under the laws of the State of Nevada on July 19, 2010 under the name of Emerging Growth Acquisitions I, Inc. The Company was formed to provide business services and financing to emerging growth entities.

On April 10, 2012, the Company amended its articles of incorporation to change its name to Bama Biotech, Inc.

Activities during the development stage include developing the business plan and raising capital.

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information necessary for a comprehensive presentation of financial position and results of operations.

It is management’s opinion however, that all material adjustments (consisting of normal recurring adjustments) have been made, which are necessary for a fair financial statements presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year

(B) Use of Estimates

In preparing financial statements in conformity with generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. ~~Actual~~Significant ~~results~~estimates ~~could~~include ~~differ~~the ~~from~~valuation ~~those~~of ~~estimates.~~deferred ~~Significant~~taxes ~~estimates~~assets ~~include~~and the ~~fair~~valuation ~~value~~ of ~~contributed~~in kind contribution of services and ~~valuation~~interest. Actual ~~allowance~~results ofcould ~~deferred~~differ ~~tax~~from ~~assets~~those estimates.

The Company considers all highly liquid temporary cash investments with an original maturity of three months or less to be cash equivalents. At ~~February~~May 2931, 2012 and August 31, 2011, the Company had no cash equivalents.

~~(D) Loss Per Share~~5

~~Basic~~BAMA ~~and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260~~BIOTECH, ~~“Earnings Per Share~~INC.~~” As of February 29, 2012 and February 28, 2011there were no common share equivalents outstanding.~~

6(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

EMERGING GROWTH ACQUISITIONS I, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF ~~FEBRUARY~~ 29MAY 31, 2012

(UNAUDITED)

(D) Loss Per Share

Basic and diluted net loss per common share is computed based upon the weighted average common shares outstanding as defined by FASB ASC No. 260, “Earnings Per Share.” As of May 31, 2012 and 2011 there were no common share equivalents outstanding.

(E) Income Taxes

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carryingamounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(F) Business Segments

The Company operates in one segment and therefore segment information is not presented.

(G) Revenue Recognition

The Company will recognize revenue on arrangements in accordance with FASB ASC No. 605, “Revenue Recognition”. In all cases, revenue is recognized only when the price is fixed and determinable, persuasive evidence of an arrangement exists, the service is performed and collectability of the resulting receivable is reasonably assured.

(H) Recent Accounting Pronouncements

In ~~June,~~December 2011, ~~the~~ FASB issued ~~ASU~~Accounting ~~No.~~Standards Update 2011-0511, ~~which~~Balance ~~amends~~Sheet ~~ASC~~- ~~Topic~~Disclosures ~~220,~~about ~~Comprehensive~~Offsetting ~~Income.~~Assets ~~Under~~and ~~the~~Liabilities” ~~amendment,~~to anenhance ~~entity~~disclosure ~~has~~requirements ~~the~~relating ~~option~~ to ~~present~~ the ~~total~~offsetting of ~~comprehensive~~assets ~~income,~~and ~~the~~liabilities ~~components~~on ofan ~~net~~entity's ~~income,~~balance ~~and~~sheet. ~~the~~The ~~components~~update ofrequires ~~other~~enhanced ~~comprehensive~~disclosures ~~income~~regarding ~~either~~assets inand aliabilities ~~single~~that ~~continuous~~are ~~statement~~presented ofnet ~~comprehensive income~~ or gross in ~~two~~the ~~separate~~statement ~~but~~of ~~consecutive~~financial ~~statements. In~~position ~~both~~when ~~choices,~~the anright ~~entity~~of isoffset ~~required~~exists, toor ~~present~~that ~~each~~are ~~component~~subject ofto ~~net~~an ~~income~~enforceable ~~along~~master ~~with~~netting ~~total~~arrangement. ~~net~~The ~~income,~~new ~~each~~disclosure ~~component~~requirements ofrelating ~~other~~to ~~comprehensive~~this ~~income~~update ~~along~~are ~~with~~retrospective aand ~~total~~effective for ~~other~~annual ~~comprehensive~~and ~~income,~~interim ~~and~~periods abeginning ~~total~~on ~~amount~~or ~~for~~after ~~comprehensive~~January ~~income~~1,2013. ~~This~~The ~~ASU~~update ~~eliminates~~only ~~the~~requires ~~option~~additional todisclosures, ~~present the components of other comprehensive income~~ as ~~part~~such, ofwe ~~the statement of changes in stockholders' equity. The amendments in this ASU~~ do not ~~change~~expect ~~the items~~ that ~~must~~the beadoption ~~reported in other comprehensive income or when an item~~ of ~~other~~this ~~comprehensive~~standard ~~income~~will ~~must~~have bea ~~reclassified~~material toimpact ~~net~~on ~~income. The~~our ~~amendments~~results inof ~~this~~operations, ~~ASU~~cash ~~should~~flows beor ~~applied~~financial ~~retrospectively~~condition.

Additionally, the FASB issued a second amendment to ASC Topic 220 in December 2011, ASU No. 2011-12, which allows companies the ability to defer certain aspects of ASU 2011-05. For public entities, these amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. The amendments do not require any transition disclosures.6

OnBAMA ~~September 15~~BIOTECH, ~~2011, the FASB issued ASU 2011-08, Intangibles – Goodwill and Other, which simplifies how an entity is required to test goodwill for impairment~~INC. This ASU will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under the ASU, an entity would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The ASU includes a number of factors to consider in conducting the qualitative assessment. The ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted.

7(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

EMERGING GROWTH ACQUISITIONS I, INC.

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF ~~FEBRUARY~~ 29MAY 31, 2012

(UNAUDITED)

NOTE 2 STOCKHOLDERS’ EQUITY

(A) In-Kind Contribution

For the ~~six~~three months ended ~~February~~May 2931, 2012, ~~shareholders~~a shareholder of the Company contributed services having a fair value of $~~13,000~~300 (See Note 45). The fair value of the services was based on the estimate contributed by the shareholders. The $13,000 of services contributed by the shareholders is included in operating expenses. This amount represents the fair value assigned to general and administrative services provided by the shareholders to handle the day to day responsibilities of the Company, as well as various filing fees.

For the ~~six~~nine months ended ~~February~~May 2931, 2012, the ~~Company~~former ~~recorded~~controlling ~~$159~~stockholders of ~~imputed~~the ~~interest~~Company ~~related~~contributed toservices ~~shareholder~~having ~~loan~~a ~~payable~~fair asvalue anof ~~in-kind~~$15,500 ~~contribution~~ (See Note 45). The fair value of the services was based on the estimate contributed by the shareholders. The value of services contributed by the former shareholders is included in operating expenses. This amount represents the fair value assigned to general and administrative services provided by the shareholders to handle the day to day responsibilities of the Company, as well as various filing fees.

For the ~~year~~nine months ended ~~August~~May 31, ~~2011~~2012, ~~shareholders of~~ the Company ~~contributed~~recorded ~~services having a fair value of~~ $~~26,000~~196 ~~(See Note 4). The fair value~~ of ~~the~~imputed ~~services~~interest ~~was~~related ~~based on the estimate contributed by the shareholders. The $26,000 of services contributed by the shareholders is included in operating expenses. This amount represents the fair value assigned~~ to ~~general~~shareholder ~~and~~loan ~~administrative~~payable ~~services provided by the shareholders to handle the day to day responsibilities of the Company,~~ as ~~well~~an asin-kind ~~various~~contribution ~~filing~~(See ~~fees~~Note 5).

For the year ended August 31, 2011, shareholders of the Company ~~recorded~~contributed services having a fair value of $~~208~~26,000 (See Note 5). The fair value of ~~imputed~~the ~~interest~~services ~~related~~was tobased ~~shareholder~~on ~~loan~~the ~~payable~~estimate ascontributed anby the shareholders. The $26,000 of services contributed by the shareholders is included in~~-kind~~ ~~contribution~~operating ~~(See~~expenses. ~~Note~~This 4)amount represents the fair value assigned to general and administrative services provided by the shareholders to handle the day to day responsibilities of the Company, as well as various filing fees.

For the ~~period~~year ended August 31, ~~2010~~2011, ~~shareholders of~~ the Company ~~contributed~~recorded ~~services having a fair value of~~ $~~3,000~~208 ~~(See Note 4). The fair value~~ of ~~the~~imputed ~~services~~interest ~~was~~related ~~based on the estimate contributed by the shareholders. The $3,000 of services contributed by the shareholders is included in operating expenses. This amount represents the fair value assigned~~ to ~~general~~shareholder ~~and~~loan ~~administrative~~payable ~~services provided by the shareholders to handle the day to day responsibilities of the Company,~~ as ~~well~~an asin-kind ~~various~~contribution ~~filing~~(See ~~fees~~Note 5).

For the period ended August 31, 2010, shareholders of the Company ~~recorded~~contributed services having a fair value of $3,000 (See Note 5). The fair value of ~~imputed~~the ~~interest~~services ~~related~~was tobased ~~shareholder~~on ~~loan~~the ~~payable~~estimate ascontributed anby the shareholders. The $3,000 of services contributed by the shareholders is included in~~-kind~~ ~~contribution~~operating ~~(See~~expenses. This ~~Note~~amount 4)represents the fair value assigned to general and administrative services provided by the shareholders to handle the day to day responsibilities of the Company, as well as various filing fees.

8For the period ended August 31, 2010, the Company recorded $3 of imputed interest related to shareholder loan payable as an in-kind contribution (See Note 5).

~~EMERGING GROWTH ACQUISITIONS I, INC.~~7

BAMA BIOTECH, INC.

(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF ~~FEBRUARY~~ 29MAY 31, 2012

(UNAUDITED)

(B) Stock Issued for Services

On July 19, 2010, the Company issued 50,000 shares of common stock to its co-founder and Chief Financial Officer having a fair value of $50 ($0.001/share) in exchange for services provided (See Note 45).

On July 19, 2010, the Company issued 50,000 shares of common stock to a co-founder having a fair value of $50 ($0.001/share) in exchange for services provided (See Note 45).

~~NOTE~~(C) ~~3 LOAN~~Amendment ~~PAYABLE~~to –Articles ~~RELATED~~of ~~PARTY~~Incorporation

On ~~February~~April 810, ~~2011~~2012, the Company ~~received~~amended ~~$3,825~~its ~~from~~Articles aof ~~principal~~Incorporation ~~stockholder.~~to ~~Pursuant~~change its name to ~~the~~Bama ~~terms~~Biotech, ofInc. Effective the ~~loan~~same date, the ~~loan~~Company's isauthorized ~~non-interest~~capital ~~bearing~~was changed from 100,000,000 ~~unsecured~~of common shares $0.001 par value to 1,000,000,000 common shares and isfrom ~~due~~10,000,000 onof ~~demand~~preferred ~~(See~~shares ~~Note~~$0.001 4)par value to 500,000,000 preferred shares authorized.

On(D) ~~November~~Expenses 5,paid ~~2010,~~on ~~the~~ Company’s’ ~~received $750 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 4).~~behalf

OnDuring ~~August~~the nine months ended May 31, ~~2010~~2012, the ~~Company~~former ~~received~~controlling stockholders (prior to the Purchase Agreement) paid $~~725~~11,250 ~~from~~of aaccounts ~~principal~~payable ~~stockholder.~~and ~~Pursuant~~forgave toa ~~the~~related ~~terms~~party ofnote ~~the~~payable ~~loan~~of $7,750 on the ~~loan~~Company’s isbehalf, ~~non-interest~~The ~~bearing~~$19,000 ~~unsecured~~was ~~and~~recorded isas ~~due~~an onin ~~demand~~kind contribution of capital (See ~~Note~~Notes 43 and 5).

NOTE 4 3 NOTE PAYABLE – RELATED PARTY ~~TRANSACTIONS~~

~~For~~During the ~~six~~nine months ended ~~February~~May 2931, 2012, ~~shareholders~~the former controlling stockholders forgave loans of ~~the~~$7,750 ~~Company~~and ~~contributed~~this ~~services~~was ~~having~~recorded aby ~~fair~~the ~~value~~Company ofas ~~$13,000~~contributed capital (See ~~Note~~Notes ~~2(A~~2D and 3)).

~~For~~On ~~the~~April ~~six months ended February 29~~2, 2012, the Company ~~recorded~~received $~~159~~2,450 offrom ~~imputed~~a ~~interest~~former ~~related~~principal stockholder. Pursuant to ~~shareholder~~the terms of the loan, ~~payable~~the asloan anis innon-~~kind~~interest ~~contribution~~bearing, unsecured and is due on demand (See Note ~~2 (A~~5)).

~~For~~On ~~the~~February ~~year ended August 31~~8, 2011, ~~shareholders of~~ the Company ~~contributed~~received ~~services~~$3,825 ~~having~~from a ~~fair~~principal ~~value~~stockholder. Pursuant to the terms of ~~$26~~the loan,~~000~~ the loan is non-interest bearing, unsecured and is due on demand (See Note ~~2(A~~5)).

On November 5, 2010, the Company received $750 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 5).

On August 31, 2010, the Company received $725 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 5).

BAMA BIOTECH, INC.

(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF MAY 31, 2012

(UNAUDITED)

NOTE 4 NOTE PAYABLE

During the nine months ended May 31, 2012, an unrelated party paid expenses of $3,125 on behalf of the Company in exchange for a non-interest bearing note. The note is due on demand and unsecured and as of May 31, 2012, $3,125 was due.

NOTE 5 RELATED PARTY TRANSACTIONS

For the three months ended May 31, 2012, a shareholder of the Company contributed services having a fair value of $300 (See Note 2(A)).

For the nine months ended May 31, 2012, the former controlling stockholders of the Company contributed services having a fair value of $15,500 (See Note 2(A)).

For the nine months ended May 31, 2012, the Company recorded $196 of imputed interest related to shareholder loan payable as an in-kind contribution (See Note 2 (A)).

During the nine months ended May 31, 2012, the former controlling stockholders (prior to the Purchase Agreement) forgave loans of $7,750 and this was recorded by the Company as contributed capital. (See Notes 2(D) and 3)

On April 2, 2012 the Company received $2,450 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Notes 2(A) and 3).

For the year ended August 31, 2011, shareholders of the Company contributed services having a fair value of $26,000 (See Notes 2(A) and 5).

For the period ended August 31, 2010, shareholders of the Company contributed services having a fair value of $3,000 (See Note 2(A)).

For the year ended August 31, 2011, the Company recorded $208 of imputed interest related to shareholder loan payable as an in-kind contribution (See Note 2(A)).

For the period ended August 31, 2010, the Company recorded $3 of imputed interest related to shareholder loans payable as an in-kind contribution (See Note 2(A)).

~~EMERGING~~BAMA ~~GROWTH ACQUISITIONS I~~BIOTECH, INC.

(f/k/a EMERGING GROWTH ACQUISITIONS I, INC.)

(A DEVELOPMENT STAGE COMPANY)

NOTES TO FINANCIAL STATEMENTS

AS OF ~~FEBRUARY~~ 29MAY 31, 2012

(UNAUDITED)

On July 19, 2010, the Company issued 50,000 shares of common stock to its co -founder and Chief Financial Officer having a fair value of $50 ($0.001/share) in exchange for services and cash provided (See Note 2 (B)).

On July 19, 2010, the Company issued 50,000 shares of common stock to a co -founder having a fair value of $50 ($0.001/share) in exchange for services and cash provided (See Note 2 (B)).

On February 8, 2011, the Company received $3,825 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 3).

On November 5, 2010, the Company received $750 from a principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 3).

On August 31, 2010, the Company received $725 from the principal stockholder. Pursuant to the terms of the loan, the loan is non-interest bearing, unsecured and is due on demand (See Note 3).

NOTE 5 6 GOING CONCERN

As reflected in the accompanying unaudited condensed financial statements, the Company is in the development stage with nominimal operations, used cash in operations of $522,~~300~~125 from inception, and has a net loss since inception of $5967,~~525~~732. There ~~and~~is also a working capital and stockholders’ ~~deficit~~deficiency of $173,~~055~~425. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital through shareholder loans and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

NOTE 6 7 SUBSEQUENT EVENT

~~During~~Subsequent ~~April~~to May 31, 2012, aan ~~principal~~unrelated ~~stockholder~~party ~~loaned~~paid expenses of $600 on behalf of the Company ~~$2,450.~~in ~~The~~exchange ~~loan~~for isa non-interest bearing, ~~unsecured~~note. ~~and~~The note is due on demand and unsecured.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

~~The~~Cautionary ~~following~~Notice ~~discussion~~Regarding ~~provides~~Forward ~~information~~Looking which management believes is relevant to an assessment and understanding of our results of operations and financial condition. The discussion should be read along with our financial statements and notes thereto contained elsewhere in this Report. The following discussion and analysis contains forward-looking statements, which involve risks and uncertainties. Our actual results may differ significantly from the results, expectations and plans discussed in these forward-looking statements.Statements

The information contained in Item 2 contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results may materially differ from those projected in the forward-looking statements as a result of certain risks and uncertainties set forth in this report. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual results will not be different from expectations expressed in this report.

This filing contains a number of forward-looking statements which reflect management’s current views and expectations with respect to our business, strategies, products, future results and events, and financial performance. All statements made in this filing other than statements of historical fact, including statements addressing operating performance, events, or developments which management expects or anticipates will or may occur in the future, including statements related to distributor channels, volume growth, revenues, profitability, new products, adequacy of funds from operations, statements expressing general optimism about future operating results, and non-historical information, are forward looking statements. In particular, the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “may,” variations of such words, and similar expressions identify forward-looking statements, but are not the exclusive means of identifying such statements, and their absence does not mean that the statement is not forward-looking. These forward-looking statements are subject to certain risks and uncertainties, including those discussed below. Our actual results, performance or achievements could differ materially from historical results as well as those expressed in, anticipated, or implied by these forward-looking statements. We do not undertake any obligation to revise these forward-looking statements to reflect any future events or circumstances.

Readers should not place undue reliance on these forward-looking statements, which are based on management’s current expectations and projections about future events, are not guarantees of future performance, are subject to risks, uncertainties and assumptions (including those described below), and apply only as of the date of this filing. Our actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks to be discussed in our Annual Report on Form 10-K and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Overview

History

~~Emerging~~Bama ~~Growth Acquisitions I~~Biotech, Inc. (the "“Company"”) was incorporated as Emerging Growth Acquisitions I, Inc. in the State of Nevada on July 19, 2010 (“~~inception~~Inception”). ~~Since~~by ~~inception~~Amit ~~the~~Tandon ~~Company has been engaged in organizational efforts~~ and ~~obtaining~~Anjay ~~initial~~Tandon ~~financing. The Company was formed~~ as a vehicle to pursue a business combination ~~and has made no efforts to identify a possible business combination~~. The ~~As a result, the~~ Company ~~has~~had ~~not~~no ~~conducted~~operations ~~negotiations~~and orwas ~~entered~~considered ~~into~~ a ~~letter~~“blank ofcheck” ~~intent concerning any target business. The business purpose of the Company is to seek the acquisition of or merger with, an existing~~ company. ~~The Company selected August 31 as its fiscal year end.~~

~~Our~~On ~~sole~~April ~~officer~~5, 2012, the Company, and ~~director~~its founders, Amit Tandon, isand aAjay ~~co-founder~~Tandon signed ~~and~~a ~~Chief~~purchase ~~Executive~~agreement ~~Officer~~(the of“Purchase ~~Emissary~~Agreement”) ~~Capital~~with ~~Group,~~Shuairui ~~LLC~~Qiu (“~~Emissary~~Qiu”)~~. Emissary~~, iswhereby anQiu ~~emerging~~purchased ~~markets~~100,000 ~~focused~~shares ~~merchant~~of ~~banking firm headquartered in midtown Manhattan. Pursuant to Rule 405 under~~ the ~~Securities~~Company’s ~~Act~~common ~~of 1933~~stock, ~~Emissary~~which isthen ~~not~~represented, ~~considered a promoter because it did not directly or indirectly take initiative in founding~~ and ~~organizing~~still ~~the~~represents, ~~business~~100% ~~or enterprise~~ of the ~~Company. In~~issued ~~addition, Emissary did not directly or indirectly receive in consideration of services or property, or both services~~ and ~~property,~~outstanding 10shares ~~percent or more~~ of ~~any~~common ~~class~~stock of ~~securities of~~ the Company for or$20,000 10(the ~~percent~~“Purchase orPrice”). ~~more~~The ofPurchase ~~the~~Price ~~proceeds~~was ~~from~~transferred ~~the~~to ~~sale~~Amit ofTandon ~~any~~and ~~class~~Ajay ofTandon on ~~such~~April ~~securities~~6, 2012.

~~Business~~Concurrently ~~activities~~with the closing of the Stock Purchase Agreement, Amit Tandon submitted to the Company a resignation letter pursuant to which he resigned from his positions as the Company’s President, CEO, CFO and Director of the Company. The Company’s Board of Directors (the “Board”) appointed Shuairui Qiu as the Company’s President, CEO, CFO and sole Director.

The Company was a “shell company” (as such term is defined in Rule 12b-2 under the Exchange Act) immediately before the change of control pursuant to the Purchase Agreement and remains one after as well, as the business of the Company remained the same.

On April 10, 2012, the Company filed a Certificate of Amendment to its Articles of Incorporation to change its name from “Emerging Growth Acquisitions I, Inc.” to “Bama Biotech, Inc.” and to increase the authorized shares of common stock of the Company from 100,000,000 to 1,000,000,000 and the preferred shares of the Company from 10,000,000 to 500,000,000. The Amendment was effective as of April 10, 2012.

Business Activities

The Company, based on proposed business activities, is a "blank check" company. The SEC defines those companies as "any development stage company that is issuing a penny stock, within the meaning of Section 3 (a)(51) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies." Under SEC Rule 12b-2 under the Exchange Act, the Company also qualifies as a “shell company,” because it has no or nominal assets (other than cash) and no or nominal operations. Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. Management does not intend to undertake any efforts to cause a market to develop in our securities, either debt or equity, until we have successfully concluded a business combination. The Company intends to comply with the periodic reporting requirements of the Exchange Act for so long as it is subject to those requirements.

The Company was organized as a vehicle to investigate and, if such investigation warrants, acquire a target company or business seeking the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the next 12 months and beyond such time will be to achieve long-term growth potential through a combination with a business rather than immediate, short-term earnings. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.

The ~~analysis~~Company ofwas ~~new~~organized ~~business~~as, ~~opportunities~~and ~~will~~remains, bea ~~undertaken~~vehicle byto orinvestigate ~~under~~and, ~~the~~if ~~supervision~~such ofinvestigation ~~Amit Tandon~~warrants, ~~the~~acquire ~~officer~~a ~~and~~target ~~director~~company ofor business seeking the ~~Company.~~perceived Asadvantages of ~~this~~being ~~date~~a ~~the~~publicly ~~Company~~held ~~has~~corporation. ~~not~~The ~~entered~~Company’s ~~into~~principal ~~any~~business ~~definitive~~objective ~~agreement~~for ~~with~~the ~~any~~next ~~party,~~12 ~~nor~~months ~~have~~and ~~there~~beyond ~~been~~such ~~any~~time ~~specific~~will ~~discussions~~be ~~with~~to ~~any~~achieve long-term growth potential ~~business~~through a combination ~~candidate~~with ~~regarding~~a business ~~opportunities~~rather ~~for~~than ~~the~~immediate, ~~Company~~short-term earnings. The Company ~~has~~will ~~unrestricted~~not ~~flexibility~~restrict inits ~~seeking,~~potential ~~analyzing~~candidate ~~and~~target ~~participating~~companies into ~~potential~~any specific business, ~~opportunities.~~industry Inor ~~its~~geographical ~~efforts~~location toand, ~~analyze potential acquisition targets~~thus, ~~the~~may ~~Company~~acquire ~~will~~any ~~consider~~type ~~the following kinds~~ of ~~factors:~~business.

The analysis of new business opportunities will be undertaken by or under the supervision of Qiu. As of this date the Company has not entered into any definitive agreement with any party, other than the Purchase Agreement, nor have there been any specific discussions with any potential business combination candidate regarding business opportunities for the Company. The Company has unrestricted flexibility in seeking, analyzing and participating in potential business opportunities. In its efforts to analyze potential acquisition targets, the Company will consider the following kinds of factors:

(a) Potential for growth, indicated by new technology, anticipated market expansion or new products;

(b) Competitive position as compared to other firms of similar size and experience within the industry segment as well as within the industry as a whole;

(d) Capital requirements and anticipated availability of required funds, to be provided by the Company or from operations, through the sale of additional securities, through joint ventures or similar arrangements or from other sources;

(e) The cost of participation by the Company as compared to the perceived tangible and intangible values and potentials;

(f) The extent to which the business opportunity can be advanced;

(g) The accessibility of required management expertise, personnel, raw materials, services, professional assistance and other required items; and

(h) Other relevant factors.

In applying the foregoing criteria, no one of which will be controlling, management will attempt to analyze all factors and circumstances and make a determination based upon reasonable investigative measures and available data. Potentially available business opportunities may occur in many different industries, and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex. Due to the Company's limited capital available for investigation, the Company may not discover or adequately evaluate adverse facts about the opportunity to be acquired.

Form of Acquisition

The manner in which the Company participates in an opportunity will depend upon the nature of the opportunity, the respective needs and desires of the Company and the promoters of the opportunity, and the relative negotiating strength of the Company and such promoters. We do not intend to solicit prospective investors for any transaction. We will rely on word of mouth to locate potential merger candidates.

It is likely that the Company will acquire its participation in a business opportunity through the issuance of common stock or other securities of the Company. Although the terms of any such transaction cannot be predicted, it should be noted that in certain circumstances the criteria for determining whether or not an acquisition is a so-called "tax free" reorganization under Section 368(a)(1) of the Internal Revenue Code of 1986, as amended (the "Code") depends upon whether the owners of the acquired business own 80% or more of the voting stock of the surviving entity. If a transaction were structured to take advantage of these provisions rather than other "tax free" provisions provided under the Code, all prior stockholders would in such circumstances retain 20% or less of the total issued and outstanding shares of the surviving entity. Under other circumstances, depending upon the relative negotiating strength of the parties, prior stockholders may retain substantially less than 20% of the total issued and outstanding shares of the surviving entity. This could result in substantial additional dilution to the equity of those who were stockholders of the Company prior to such reorganization.

The present stockholders of the Company will likely not have control of a majority of the voting securities of the Company following a reorganization transaction. As part of such a transaction, all, or a majority of, the Company's directors may resign and one or more new directors may be appointed without any vote by stockholders.

ItThe ispresent ~~anticipated~~stockholder ~~that~~of the ~~investigation~~Company ofwill ~~specific~~likely ~~business~~not ~~opportunities~~have ~~and~~control ~~the~~of ~~negotiation,~~a ~~drafting~~majority ~~and execution~~ of ~~relevant~~the ~~agreements,~~voting ~~disclosure~~securities ~~documents~~of ~~and~~the ~~other~~Company ~~instruments~~following ~~will~~a ~~require~~reorganization ~~substantial~~transaction. ~~management~~As ~~time~~part ~~and~~of ~~attention~~such ~~and~~a ~~substantial cost for accountants~~transaction, ~~attorneys~~the ~~and~~Company's ~~others.~~director ~~Our~~may ~~sole~~resign ~~officer~~ and ~~director,~~one ~~Amit~~or ~~Tandon,~~more ~~has~~new ~~agreed~~directors ~~not~~may to be ~~compensated~~appointed aswithout ~~he seeks business combinations. We anticipate providing limited compensation to our affiliate(s), approximately between 5% and 10% of~~ any ~~funds~~vote ~~received, including amounts paid for reimbursement for services rendered, post-transaction employment, capital advances, and expenses incurred~~ by ~~our~~other ~~affiliates as we seek a business combination. However~~stockholders, atif ~~this time~~ there isare ~~no written agreement to provide compensation to~~ any ~~of our affiliate(s)~~.

It is anticipated that the investigation of specific business opportunities and the negotiation, drafting and execution of relevant agreements, disclosure documents and other instruments will require substantial management time and attention and substantial cost for accountants, attorneys and others. Our sole officer and director, Shuairui Qiu, has agreed not to be compensated as he seeks business combinations. We anticipate providing limited compensation to our affiliate(s), approximately between 5% and 10% of any funds received, including amounts paid for reimbursement for services rendered, post-transaction employment, capital advances, and expenses incurred by our affiliates as we seek a business combination. However, at this time there is no written agreement to provide compensation to any of our affiliate(s).

We presently have no employees apart from our management. Our officer and director is engaged in outside business activities and anticipates that he will devote to our business very limited time until the acquisition of a successful business opportunity has been identified. We expect no significant changes in the number of our employees other than such changes, if any, incident to a business combination.

Results of Operations

For the three and ~~six~~nine months ended ~~February~~May 2931, 2012 and ~~February 28~~2011, ~~2011~~respectively

Revenues

We had no revenues for the three and ~~six~~nine months period ended ~~February~~May 2931, 2012 ~~and February 28~~, ~~2011~~respectively. We are in the development stage and no revenue activities have begun yet.

Operating expenses

We incurred $68,~~500~~170 and $1422,~~000~~170 in operating expenses, including professional fees and general administrative costs, during the three and ~~six~~nine month period ending ~~February~~May 2931, 2012, respectively. We incurred $9,~~768~~682 and $2332,~~037~~719 in operating expenses, including professional fees and general administrative costs, during the three and ~~six~~nine month period ending ~~February~~May 2831, 2011, respectively.

Net Loss

Our operating results have recognized a loss in the amount of $68,~~579~~207 and $1422,~~159~~366 for the three and ~~six~~nine months ended ~~February~~May 2931, 2012, respectively. Our operating results have recognized a loss in the amount of $9,~~805~~762 and $2332,~~085~~847 for the three and ~~six~~nine months ended ~~February~~May 2931, ~~2012~~2011, respectively.

Liquidity and Capital Resources

As of ~~April~~May 531, 2012 the Company has no cash on hand. The Company does not have enough cash to continue operations for the next twelve months.

Cash used in operating activities and provided by financing activities was $016,825 for the ~~three~~nine ~~and six~~ month period ended ~~February~~May 2931, 2012.

We do not currently engage in any business activities that provide cash flow. The costs of investigating and analyzing business combinations for the next 12 months and beyond such time will be paid for by ~~Amit~~Shuairui ~~Tandon~~Qiu, our ~~principal~~sole ~~executive~~ officer and ~~sole~~ director. We currently have no written contractual agreements in place with MrMs. ~~Tandon~~Qui to provide such funding~~; however, Mr~~. Tandon has verbally agreed to provide such funding until we engage in business activities that provide cash flow sufficient to cover the costs of investigating and analyzing business combinations. A description of the oral arrangement between the Company and Mr. Tandon is attached as Exhibit 10.1 to the Amended Form 10 filed on September 24, 2010.

Critical Accounting Policies

We have identified the policies outlined below as critical to our business operations and an understanding of our results of operations. The list is not intended to be a comprehensive list of all of our accounting policies. In many cases, the accounting treatment of a particular transaction is specifically dictated by accounting principles generally accepted in the United States, with no need for management's judgment in their application.

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of operations, financial position or liquidity for the periods presented in this report.

Recent Accounting Pronouncements

In June, 2011, the FASB issued ASU No. 2011-05, which amends ASC Topic 220, Comprehensive Income. Under the amendment, an entity has the option to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In both choices, an entity is required to present each component of net income along with total net income, each component of other comprehensive income along with a total for other comprehensive income, and a total amount for comprehensive income. This ASU eliminates the option to present the components of other comprehensive income as part of the statement of changes in stockholders' equity. The amendments in this ASU do not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The amendments in this ASU should be applied retrospectively.

On September 15, 2011, the FASB issued ASU 2011-08, Intangibles – Goodwill and Other, which simplifies how an entity is required to test goodwill for impairment. This ASU will allow an entity to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. Under the ASU, an entity would not be required to calculate the fair value of a reporting unit unless the entity determines, based on a qualitative assessment, that it is more likely than not that its fair value is less than its carrying amount. The ASU includes a number of factors to consider in conducting the qualitative assessment. The ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted.

Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, financings, or other relationships with unconsolidated entities or other persons, also known as “special purpose entities” (SPEs).

Going Concern

As reflected in the accompanying ~~condensed~~ unaudited condensed financial statements, the Company is in the development stage with nominimal operations, used cash in operations of $522,~~300~~125 from inception and has a net loss since inception of $5967,~~525~~732. There is also a working capital and stockholders’ deficiency of $3,425. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital through shareholder loans and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

Management believes that actions presently being taken to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern.

Critical Accounting Policies

The Company accounts for income taxes under FASB Codification Topic 740-10-25 (“ASC 740-10-25”). Under ASC 740-10-25, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740-10-25, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date of operations, financial position or liquidity for the periods presented in this report.

Recent Accounting Pronouncements

In December 2011, FASB issued Accounting Standards Update 2011-11, Balance Sheet - Disclosures about Offsetting Assets and Liabilities” to enhance disclosure requirements relating to the offsetting of assets and liabilities on an entity's balance sheet. The update requires enhanced disclosures regarding assets and liabilities that are presented net or gross in the statement of financial position when the right of offset exists, or that are subject to an enforceable master netting arrangement. The new disclosure requirements relating to this update are retrospective and effective for annual and interim periods beginning on or after January 1, 2013. The update only requires additional disclosures, as such, we do not expect that the adoption of this standard will have a material impact on our results of operations, cash flows or financial condition.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Not applicable.

~~Item 4. Controls and Procedures.~~14

WeItem carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the ‘‘Exchange Act’’)4. Controls ~~Disclosure controls~~ and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Based upon our evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective, as of the six months ended February 29, 2012, in ensuring that material information that we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms.Procedures

We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the ‘‘Exchange Act’’). Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Based upon our evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective, as of the nine months ended May 31, 2012, in ensuring that material information that we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms.

Changes in Internal Control over Financial Reporting

There were no changes in our system of internal controls over financial reporting during the ~~six~~nine months ended ~~February~~May 2931, 2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings.

From time to time, we may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. We are currently not aware of any such legal proceedings or claims that we believe will have a material adverse effect on our business, financial condition or operating results.

Item 1A. Risk Factors.

Smaller reporting companies are not required to provide the information required by this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

None.

Item 5. Other Information.

None.

Item 6. Exhibits.

Exhibit No.	Description
31.1	Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS *	XBRL Instance Document

101.SCH *	XBRL Taxonomy Schema

101.CAL *	XBRL Taxonomy Calculation Linkbase

101.DEF *	XBRL Taxonomy Definition Linkbase

101.LAB *	XBRL Taxonomy Label Linkbase

101.PRE *	XBRL Taxonomy Presentation Linkbase

In accordance with SEC Release 33-8238, Exhibit 32.1 is being furnished and not filed.

* Furnished herewith. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	EMERGING GROWTH ACQUISITIONS I, INC.
	BAMA BIOTECH, INC.
Date: April 5, 2012	By:	/s/ Amit Tandon
Date: July 13, 2012	By:	/s/ Shuairui Qiu
		Amit Tandon President
		Shuairui Qiu President
		(Principal Executive Officer) (Principal Financial Officer)
		(Duly Authorized Officer, Principal Executive Officer and Principal Financial Officer)

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