Please I get error whenever I run this MySQL database backup cron job bash script. Can someone please tell me what's wrong with this code:

Code:
#!/bin/sh


# List of databases to be backed up separated by space
dblist="Forum_base"


# Directory for backups
backupdir=/root/mysql_backups/daily


# Number of versions to keep
numversions=7


# Full path for MySQL hotcopy command
# Please put credentials into /root/.my.cnf
#hotcopycmd=/usr/bin/mysqlhotcopy
hotcopycmd="/usr/bin/mysqldump --lock-tables --databases"


# Create directory if needed
mkdir -p "$backupdir"
if [ ! -d "$backupdir" ]; then
   echo "Invalid directory: $backupdir"
   exit 1
fi


# Hotcopy begins here
echo "Dumping MySQL Databases..."
RC=0
for database in $dblist; do
   echo
   echo "Dumping $database ..."
   mv "$backupdir/$database.gz" "$backupdir/$database.0.gz" 2> /dev/null
   $hotcopycmd $database | gzip > "$backupdir/$database.gz"


   RC=$?
   if [ $RC -gt 0 ]; then
     continue;
   fi


   # Rollover the backup directories
   rm -fr "$backupdir/$database.$numversions.gz" 2> /dev/null
   i=$numversions
   while [ $i -gt 0 ]; do
     mv "$backupdir/$database.`expr $i - 1`.gz" "$backupdir/$database.$i.gz" 2> /dev/null
     i=`expr $i - 1`
   done
done


if [ $RC -gt 0 ]; then
   echo "MySQL Dump failed!"
   exit $RC
else
   # Hotcopy is complete. List the backup versions!
   ls -l "$backupdir"
   echo "MySQL Dump is complete!"
fi
exit 0
This is the errors that I'm getting:
Code:
-bash-3.2# sh /etc/cron.daily/mysqlbackup.sh
    : command not founde 2:
    : command not founde 5:
    : command not founde 8:
    : command not founde 11:
    : command not founde 16:
    'ysqlbackup.sh: line 27: syntax error near unexpected token `do
    'ysqlbackup.sh: line 27: `for database in $dblist; do