KUNMING, China, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- China Shenghuo Pharmaceutical Holdings, Inc. (Amex: KUN) ("China Shenghuo" or the "Company"), which is engaged in the research, development, manufacture, and marketing of pharmaceutical, nutritional supplement and cosmetic products in the People's Republic of China, today announced that the NYSE Alternext US LLC (formerly the American Stock Exchange) (the "Exchange") has accepted the Company's plan of compliance for continued listing.
On August 21, 2008 the Company received notice from the Exchange staff indicating that the Company is below certain of the Exchange's continued listing standards. Specifically, the Company is not in compliance with Sections 134 and 1101 of the Exchange's Company Guide due to the fact that it failed to file with the Securities and Exchange Commission, its Form 10-Q for the period ended June 30, 2008 (the "Form 10-Q").
The Company submitted a plan of compliance (the "Plan") to the Exchange on September 12, 2008 and has engaged in discussions with the Exchange since then. On November 5, 2008, the Exchange notified the Company that it has accepted the Company's Plan and granted the Company an extension until November 19, 2008 to file the Form 10-Q and to regain compliance with the continued listing standards noted above. The Company will be subject to periodic review by Exchange staff during the extension period. Failure to make progress consistent with the Plan or regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the Exchange.
Mr. Gui Hua Lan, Chief Executive Officer of China Shenghuo, stated, "We
are executing on our plan and believe the successful
|SOURCE China Shenghuo Pharmaceutical Holdings, Inc.|
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