SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Chung Winston

(Last) (First) (Middle)
3 INDUSTRIAL ZONE, LISONGLANG VILLAGE
GONGMING TOWN, BAO'AN DIST.,

(Street)
SHENZHEN, PRC

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
BALQON CORP. [ BLQN ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
12/14/2010
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1) 12/14/2010 J(2) 7,812,500 A $0.64 7,812,500 I see footnote(4)
Common Stock(1) 12/14/2010 J(3) 1,375,000 A (5) 9,187,500 I see footnote(4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant(1) $0.64 12/14/2010 J(2) 7,812,500 12/14/2010 12/14/2015 Common Stock 7,812,500 (5) 7,812,500 I see footnote(4)
Warrant(1) $1.5 12/14/2010 J(3) 1,500,000 12/14/2010 12/14/2015 Common Stock 1,500,000 (5) 1,500,000 I see footnote(4)
1. Name and Address of Reporting Person*
Chung Winston

(Last) (First) (Middle)
3 INDUSTRIAL ZONE, LISONGLANG VILLAGE
GONGMING TOWN, BAO'AN DIST.,

(Street)
SHENZHEN, PRC

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Seven One Ltd

(Last) (First) (Middle)
3 INDUSTRIAL ZONE, LISONGLANG VILLAGE
GONGMING TOWN, BAO'AN DIST.,

(Street)
SHENZHEN, PRC

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. These securities are owned by the reporting person, who is a member of a "group" for purposes of Section 13(d) of the Securities Exchange Act of 1934. The reporting person disclaims beneficial ownership of the securities beneficially owned by the other members, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
2. These securities were acquired pursuant to a Securities Purchase Agreement dated December 14, 2010 by and between Balqon Corporation and Seven One Limited.
3. These securities were acquired pursuant to a Distribution Agreement dated December 14, 2010 by and between Balqon Corporation and Seven One Limited.
4. Securities held by Seven One Limited, a BVI company. Chung Hing Ka (Winston Chung) is the sole shareholder of Seven One Limited.
5. Not applicable.
/s/ Robert J. Cousins, Attorney-in-Fact 12/14/2010
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.