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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of
Report (Date of Earliest Event Reported): April 14, 2010</font></div>
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      VOIP &amp; DIGITAL TELECOM INC.</font></div>
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      or organization)</font></div>
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              <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">11th
      Floor No.11 Building, Shuntai Square, No.2000 Shunhua Rd,</font></div>
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      High-tech Industrial Development Zone, Jinan,China,
  250101</font></div>
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR
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<tr>
            <td align="left" valign="top" width="9%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
      1.01</font></div>
            </td>
            <td align="left" valign="top" width="72%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Entry
      into a Material Definitive
Agreement.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
December 21, 2007, China VoIP &amp; Digital Telecom Inc. (the &#8220;Company&#8221;) entered
into a Securities Purchase Agreement, as amended, with Castlerigg Master
Investments, Ltd. (the &#8220;Investor&#8221;) (the &#8220;Securities Purchase Agreement&#8221;),
pursuant to which, among other things, the Investor purchased from the Company
(i) the Senior Secured Convertible Note, dated as of December 21, 2007 (the
&#8220;2007 Note&#8221;), which was convertible into shares of the Company&#8217;s common stock,
par value $0.001 per share (the &#8220;Common Stock&#8221;), in accordance with the terms
thereof, (ii) a Series A Warrant, dated as of December 21, 2007&#160;&#160;(the
&#8220;2007 Series A Warrant&#8221;), (iii) a Series B Warrant, dated as of December 21,
2007 (the &#8220;2007 Series B Warrant&#8221;) and (iv) a Series C Warrant, dated as of
December 21, 2007 (the &#8220;2007 Series C Warrant&#8221;, and together with the 2007
Series A Warrant and 2007 Series B Warrant, the &#8220;2007 Warrants&#8221;).</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
December 8, 2008, the Company and the Investor entered into that certain
Amendment and Exchange Agreement, pursuant to which, among other things, the
Investor exchanged the 2007 Note and the 2007 Warrants for (i) the Amended and
Restated Senior Secured Convertible Note dated as of December 8, 2008 (the &#8220;2008
Note&#8221;), which is convertible into Common Stock, (ii) a Series A Warrant, dated
as of December 8, 2008 (the &#8220;2008 Series A Warrant&#8221;), exercisable into
23,062,731 shares of Common Stock, (iii) a Series B Warrant, dated as of
December 8, 2008 (the &#8220;2008 Series B Warrant&#8221;), exercisable into 16,143,922
shares of Common Stock, (iv) a Series C Warrant, dated as of December 8, 2008
(the &#8220;2008 Series C Warrant&#8221;) exercisable into 16,489,852 shares of Common Stock
and (v) a Series D Warrant, dated as of December 8, 2008 (the &#8220;2008 Series D
Warrant&#8221;, and together with the 2008 Series A Warrant, 2008 Series B Warrant and
2008 Series C Warrant, the &#8220;2008 Warrants&#8221;), exercisable into 7,500,000 shares
of Common Stock.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On
January 5, 2010, the Company entered into a Securities Redemption and Pay-off
Agreement (the &#8220;Settlement Agreement&#8221;) with the Investor.&#160;Pursuant to the
Settlement Agreement, the Investor was willing to effectuate the redemption of
the 2008 Note and the 2008 Warrants and give certain waivers and releases in
consideration for the payment to the Investor of a cash amount equal to
$3,000,000.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On April
14, 2010, the Company entered into an Amended and Restated Securities Redemption
and Pay-off Agreement (the &#8220;Amended and Restated Settlement Agreement&#8221;) to amend
and restate the Settlement Agreement to, among other things, extend the
termination date specified therein in consideration for a payment by the Company
to the Investor of $50,000 on the date of the Amended and Restated Settlement
Agreement. A copy of the Amended and Restated Settlement Agreement is attached
hereto as Exhibit 10.1 and is hereby incorporated by reference.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to the Amended and Restated Settlement Agreement, the Investor has agreed to
accept $2,950,000 from the Company in exchange for the redemption of the 2008
Note and the 2008 Warrants, but only upon the terms and conditions expressly set
forth in the Amended and Restated Settlement Agreement, including the Company&#8217;s
completion of certain conditions precedent set forth in Section 3 of the Amended
and Restated Settlement Agreement (the &#8220;Conditions&#8221;).&#160;&#160;Upon the
satisfaction of the Conditions and the closing of the Amended and Restated
Settlement Agreement, (i) the Company shall pay to the Investor $2,950,000, (ii)
the Investor and the Company will release each other from all claims related to
the Securities Purchase Agreement, as amended, the 2008 Note and the 2008
Warrants as of the date of the Amended and Restated Settlement Agreement, (iii)
the Investor will transfer and convey to the Company the 2008 Note and 2008
Warrants and (iv) the Company shall redeem from the Investor the 2008 Note and
the 2008 Warrants.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In
addition, pursuant to the Amended and Restated Settlement Agreement, since
January 5, 2010, the Company shall have duly delivered to the Investor an
aggregate of 1,100,000 shares of Common Stock pursuant to the Conversion Notice
attached thereto as <font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit B</font>.&#160;The
issuance of these shares is one of the Conditions required to be completed prior
to closing.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In the
event that the closing of the Amended and Restated Settlement Agreement does not
occur on or before July 3, 2010, the Investor has the option to terminate the
Amended and Restated Settlement Agreement.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="top" width="9%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
      1.02</font></div>
            </td>
            <td align="left" valign="top" width="72%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Termination
      of a Material Definitive Agreement.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
disclosure contained in Item 1.01 above is incorporated herein by
reference.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="top" width="9%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item
      2.03</font></div>
            </td>
            <td align="left" valign="top" width="72%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Creation
      of a Direct Financial Obligation or an Obligation under an Off-Balance
      Sheet Arrangement of a Registrant.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
disclosure contained in Item 1.01 above is incorporated herein by
reference.</font></div>
    <div>
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      9.01</font></div>
            </td>
            <td align="left" valign="top" width="72%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibits.</font></div>
            </td>
          </tr></table>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit</font>&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">10.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Amended and Restated Securities Redemption and Pay-Off Agreement, dated April
14, 2010.</font></div><br>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
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        <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
      </div>
    </div><br>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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 hereunto
duly authorized.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td align="left" valign="middle" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" colspan="2" valign="middle" width="41%">
              <div style="TEXT-INDENT: 9pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CHINA
      VOIP &amp; DIGITAL TELECOM, INC.</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="middle" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="38%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td align="left" valign="middle" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="38%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr><tr>
            <td align="left" valign="middle" width="21%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Date:
      April 19, 2010</font></div>
            </td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="3%">
              <div style="TEXT-INDENT: 9pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></div>
            </td>
            <td align="left" valign="middle" width="38%" style="BORDER-BOTTOM: black 2px solid">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/
      Li Kunwu</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="middle" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="38%">
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Li
      Kunwu</font></div>
              <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">President
      and Chief Executive Officer</font></div>
            </td>
          </tr><tr>
            <td align="left" valign="middle" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td align="left" valign="middle" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            <td valign="middle" width="38%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>&#160;</div><br>
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      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
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Index</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
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and Restated Securities Redemption and Pay-off Agreement, dated&#160;&#160;April
14, 2010.</font></div><br>
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chinavoip8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest Event Reported): April 14, 2010
CHINA
      VOIP & DIGITAL TELECOM INC.
(Exact
      name of registrant as specified in its
charter)
Nevada
333-131017
98-0509797
(State
      or other jurisdiction of
(Commission
      File Number)
(IRS
      Employer Identification No.)
incorporation
      or organization)
11th
      Floor No.11 Building, Shuntai Square, No.2000 Shunhua Rd,
High-tech Industrial Development Zone, Jinan,China,
  250101
(Address
      of principal executive offices)
86-531-55585742
(Registrant's
      telephone number, including area code)
(Former
      name or former address, if changed since last
  report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (
see
General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item
      1.01
Entry
      into a Material Definitive
Agreement.
On
December 21, 2007, China VoIP & Digital Telecom Inc. (the "Company") entered
into a Securities Purchase Agreement, as amended, with Castlerigg Master
Investments, Ltd. (the "Investor") (the "Securities Purchase Agreement"),
pursuant to which, among other things, the Investor purchased from the Company
(i) the Senior Secured Convertible Note, dated as of December 21, 2007 (the
"2007 Note"), which was convertible into shares of the Company's common stock,
par value $0.001 per share (the "Common Stock"), in accordance with the terms
thereof, (ii) a Series A Warrant, dated as of December 21, 2007  (the
"2007 Series A Warrant"), (iii) a Series B Warrant, dated as of December 21,
2007 (the "2007 Series B Warrant") and (iv) a Series C Warrant, dated as of
December 21, 2007 (the "2007 Series C Warrant", and together with the 2007
Series A Warrant and 2007 Series B Warrant, the "2007 Warrants").
On
December 8, 2008, the Company and the Investor entered into that certain
Amendment and Exchange Agreement, pursuant to which, among other things, the
Investor exchanged the 2007 Note and the 2007 Warrants for (i) the Amended and
Restated Senior Secured Convertible Note dated as of December 8, 2008 (the "2008
Note"), which is convertible into Common Stock, (ii) a Series A Warrant, dated
as of December 8, 2008 (the "2008 Series A Warrant"), exercisable into
23,062,731 shares of Common Stock, (iii) a Series B Warrant, dated as of
December 8, 2008 (the "2008 Series B Warrant"), exercisable into 16,143,922
shares of Common Stock, (iv) a Series C Warrant, dated as of December 8, 2008
(the "2008 Series C Warrant") exercisable into 16,489,852 shares of Common Stock
and (v) a Series D Warrant, dated as of December 8, 2008 (the "2008 Series D
Warrant", and together with the 2008 Series A Warrant, 2008 Series B Warrant and
2008 Series C Warrant, the "2008 Warrants"), exercisable into 7,500,000 shares
of Common Stock.
On
January 5, 2010, the Company entered into a Securities Redemption and Pay-off
Agreement (the "Settlement Agreement") with the Investor. Pursuant to the
Settlement Agreement, the Investor was willing to effectuate the redemption of
the 2008 Note and the 2008 Warrants and give certain waivers and releases in
consideration for the payment to the Investor of a cash amount equal to
$3,000,000.
On April
14, 2010, the Company entered into an Amended and Restated Securities Redemption
and Pay-off Agreement (the "Amended and Restated Settlement Agreement") to amend
and restate the Settlement Agreement to, among other things, extend the
termination date specified therein in consideration for a payment by the Company
to the Investor of $50,000 on the date of the Amended and Restated Settlement
Agreement. A copy of the Amended and Restated Settlement Agreement is attached
hereto as Exhibit 10.1 and is hereby incorporated by reference.
Pursuant
to the Amended and Restated Settlement Agreement, the Investor has agreed to
accept $2,950,000 from the Company in exchange for the redemption of the 2008
Note and the 2008 Warrants, but only upon the terms and conditions expressly set
forth in the Amended and Restated Settlement Agreement, including the Company's
completion of certain conditions precedent set forth in Section 3 of the Amended
and Restated Settlement Agreement (the "Conditions").  Upon the
satisfaction of the Conditions and the closing of the Amended and Restated
Settlement Agreement, (i) the Company shall pay to the Investor $2,950,000, (ii)
the Investor and the Company will release each other from all claims related to
the Securities Purchase Agreement, as amended, the 2008 Note and the 2008
Warrants as of the date of the Amended and Restated Settlement Agreement, (iii)
the Investor will transfer and convey to the Company the 2008 Note and 2008
Warrants and (iv) the Company shall redeem from the Investor the 2008 Note and
the 2008 Warrants.
In
addition, pursuant to the Amended and Restated Settlement Agreement, since
January 5, 2010, the Company shall have duly delivered to the Investor an
aggregate of 1,100,000 shares of Common Stock pursuant to the Conversion Notice
attached thereto as
Exhibit B
. The
issuance of these shares is one of the Conditions required to be completed prior
to closing.
In the
event that the closing of the Amended and Restated Settlement Agreement does not
occur on or before July 3, 2010, the Investor has the option to terminate the
Amended and Restated Settlement Agreement.
Item
      1.02
Termination
      of a Material Definitive Agreement.
The
disclosure contained in Item 1.01 above is incorporated herein by
reference.
Item
      2.03
Creation
      of a Direct Financial Obligation or an Obligation under an Off-Balance
      Sheet Arrangement of a Registrant.
The
disclosure contained in Item 1.01 above is incorporated herein by
reference.
Item
      9.01
Exhibits.
Exhibit
Description
10.1          
Amended and Restated Securities Redemption and Pay-Off Agreement, dated April
14, 2010.
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 hereunto
duly authorized.
CHINA
      VOIP & DIGITAL TELECOM, INC.
Date:
      April 19, 2010
By:
/s/
      Li Kunwu
Li
      Kunwu
President
      and Chief Executive Officer
Exhibit
Index
Exhibit
Description
10.1                      Amended
and Restated Securities Redemption and Pay-off Agreement, dated  April
14, 2010.