''As our retail and bulk additives businesses continue to expand, we are managing our capacity utilization carefully to strike a balance between achieving current and future sales growth,'' Mr. Song said. ''We are pleased that we were able to begin achieving meaningful sales of our bulk additives to commercial customers. We are also working on rolling out new retail outlets as quickly as we can. Those outlets already open more than one year have demonstrated tremendous year-over-year sales growth, and we believe that, in time, the retail strategy will contribute significantly to our growth. Meanwhile, construction of our new bulk additives facility is on schedule, and we continue working to add new customers in that segment in preparation for the plant coming online at the end of this calendar year.''
On July 9, 2008, Dr. Shuguang Fang, China-Biotics' Chief Technology Officer, was the guest speaker at China's 3rd Annual Food Safety Technology Forum 2008. Dr. Fang spoke on the importance of probiotics safety in dairy products.
Also in July 2008, China-Biotics announced the appointment of American Stock Transfer & Trust Company as its new transfer agent and registrar, effective August 15, 2008. AST, headquartered in New York City, replaces the Company's former transfer agent and registrar, American Registrar & Transfer Company.
On July 18, 2008, the Company announced it has applied for listing
approval on the Nasdaq Global Market. The application is subject to review
by Nasdaq's Listing Qualifications Department for compliance with all
Nasdaq Global Market requirements. The Company's common stock will continue
to trade on the OTC Bulletin Board under its current symbol, CHBT, until
the Company is notified of its acceptance, which it hopes to receive within
two to t
|SOURCE China-Biotics, Inc.|
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