Count and get all the value of checked checkboxes in VB.NET

lets say i have a form, and under my form i have a panel, and under panel i have a groupbox, and under the groupbox i have another panel, and under of this panel i have a multiple checkboxes, now, how can i count how many checkboxes are checked and how can i get the value of checked checkboxes and put it in arraylist. i have a code but doesnt work.

my code:

        Dim list As New ArrayList
        Dim count As Integer
        count = 0
        If TypeOf element Is CheckBox Then

         If cb.Checked Then
            list.Add(cb.Text)
        'End If
        Else
            For Each childElement In element.Controls
               count += 1
            Next
        End If
        MsgBox(count)
        MsgBox(list)

thank you very much! any help will appreciate. sorry for y bad English.