XIANYANG, China, April 23, 2018 /PRNewswire/ -- Biostar
Pharmaceuticals, Inc. (NASDAQ: BSPM) ("the Company"), a PRC-based
manufacturer and marketer of pharmaceutical and health supplement
products in China, announced today that on received a
notification letter from Nasdaq Listing Qualifications
("Nasdaq") advising the Company that, since it had not filed its
Annual Report on Form 10-K for the fiscal year ended December 31, 2017, the Company was not in
compliance with Nasdaq Listing Rule 5250(c)(1) for continued
listing. The Company is required within 60 calendar days of the
Nasdaq notification to submit a plan of compliance with the
foregoing continued listing deficiency. If the Company's plan is
approved by the Nasdaq staff, the Company may be eligible for a
listing exception of up to 180 calendar days (or until October 15,
2018) to regain compliance. If the Nasdaq staff concludes that the
Company will not be able to cure the deficiency, or if the Company
determines not to submit the required materials or make the
required representations, the Company's common stock will be
subject to delisting by Nasdaq.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties.
Such forward-looking statements include statements about the
completion of the public offering of securities described
herein. Actual events or results may differ materially from
the Company's expectations. Factors that could cause actual
results to differ materially from those stated or implied by the
Company's forward-looking statements are disclosed in its filings
with the Securities and Exchange Commission. These
forward-looking statements represent the Company's judgment as of
the time of this release. The Company disclaims any intent or
obligation to update these forward-looking statements, other than
as may be required under applicable law.
Investor Relations Contact
Please send questions
or comments to:
Biostar Pharmaceuticals, Inc.
Investor Relations Coordinator
+86-29-3368-6638
office@aoxing-group.com
http://www.biostarpharmaceuticals.com
View original
content:http://www.prnewswire.com/news-releases/biostar-announces-receipt-of-nasdaq-continued-listing-deficiency-notice-300634154.html
SOURCE Biostar Pharmaceuticals, Inc.