Navigation Links
NYSE Alternext US Accepts China Shenghuo's Compliance Plan for Continued Listing
Date:11/12/2008

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 execution of this plan will enable us to regain compliance with the Exchange's listing standards."

About China Shenghuo

Founded in 1995, China Shenghuo is a specialty pharmaceutical company that focuses on the research, development, manufacture and marketing of Sanchi- based medicinal and pharmaceutical, nutritional supplement and cosmetic products. Through its subsidiary, Kunming Shenghuo Pharmaceutical (Group) Co., Ltd., it owns thirty SFDA (State Food and Drug Administration) approved medicines, including the flagship product Xuesaitong Soft Capsules, which has already been listed in the Insurance Catalogue. At present, China Shenghuo incorporates a sales network of agencies and representatives throughout China, which markets Sanchi-based traditional Chinese medicine to hospitals and drug stores as prescription and OTC drugs primarily for the treatment of cardiovascular, cerebrovascular and peptic ulcer disease. The Company also exports medicinal products to Asian countries such as Indonesia, Russia and Kyrgyzstan. For more information, please visit http://www.shenghuo.com.cn .

Safe Harbor Statement

This press release may contain certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the Company's possible inability to file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2008 for an extended period of time; additional expense as a result of the internal investigation; risks of litigation and governmental or other regulatory inquiry or proceedings arising out of or related to any of the matters described in recent press releases, including arising out of any restatement of the Company's financial statements; the Company's continuing ability to satisfy any requirements which may be prescribed by the Exchange for continued listing on the Exchange; potential adverse effects to the Company's financial condition, results of operations or prospects as a result of possible changes to or restatements of prior period financial statements; risks arising from potential weaknesses or deficiencies in the Company's internal control over financial reporting; the Company's reliance on one supplier for Sanchi; the possible effect of adverse publicity on the Company's business, including possible contract cancellation; the Company's ability to develop and market new products; the Company's ability to establish and maintain a strong brand; the Company's continued ability to obtain and maintain all certificates, permits and licenses required to open and operate retail specialty counters to offer its cosmetic products and conduct business in China; protection of the Company's intellectual property rights; market acceptance of the Company's products; changes in the laws of the People's Republic of China that affect the Company's operations; cost to the Company of complying with current and future governmental regulations; the impact of any changes in governmental regulations on the Company's operations; general economic conditions; and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact:

China Shenghuo Pharmaceutical Holdings, Inc.

Mr. Changhua Mu

Securities Affairs Representative

Tel: +86-871-7282698

Email: c.mu@chinashenghuo.net

Grayling Global

Eddie Cheung

Investor Relations

Tel: +1-646-284-9414

Email: echeung@hfgcg.com


'/>"/>
SOURCE China Shenghuo Pharmaceutical Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. FDA Accepts New Drug Application for Bucindolol, A Genetically-Targeted Treatment for Heart Failure From ARCA biopharma
2. GSI Group Accepts Shares in Tender Offer for Excel Technology and Commences Subsequent Offering Period
3. Hologic, Inc. Accepts Shares of Third Wave Technologies, Inc. in Tender Offer and Commences Subsequent Offering Period
4. FDA Accepts Immucors Response to Warning Letter
5. FDA Accepts Zingo(TM) Supplemental New Drug Application to Reduce Pain Associated With Peripheral Needle Insertion Procedures in Adults
6. U.S. Government Accepts $192 Million of sanofi pasteur H5N1 Bulk Vaccine Antigen for Pandemic Stockpile
7. Imaging Diagnostic Systems Accepts Resignations of Outside Directors
8. EMEA Accepts for Review Vidaza(R) Marketing Authorization Application for Higher-Risk Myelodysplastic Syndromes
9. FDA Accepts Ranexa(R) sNDA and NDA for Filing
10. FDA Accepts Sucampos sNDA for Lubiprostone (8 mcg) for the Treatment of Irritable Bowel Syndrome with Constipation (IBS-C)
11. FDA Accepts ISO-Vorin(TM) New Drug Application Amendment Submitted by Spectrum Pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/24/2017)... ... July 24, 2017 , ... ... today announced that the stock market news outlet had initiated coverage on ... testing that screens and identifies exposure, progression and risk analysis from specific ...
(Date:7/20/2017)... ... July 20, 2017 , ... VIC Technology Venture Development™ (VIC™), is ... directors. This addition continues to strengthen and diversify VIC’s board. , "We are ... “He is a highly accomplished business executive with a broad range of experience directly ...
(Date:7/18/2017)... ... July 18, 2017 , ... ... pharmaceutical and biotherapeutics development, announces the launch of a new NTA biosensor chip ... enables researchers to study the kinetics of polyhistidine-tagged (His-tagged) molecules quickly and reliably. ...
(Date:7/18/2017)... ... July 18, 2017 , ... Allotrope Foundation won the ... phase of the Allotrope Framework for commercial use. , The Bio-IT World Best ... only elevate the critical role of information technology in modern biomedical research, but ...
Breaking Biology Technology:
(Date:5/6/2017)... , May 5, 2017 RAM ... announced a new breakthrough in biometric authentication based ... quantum mechanical properties to perform biometric authentication. These new ... semiconductor material created by Ram Group and its ... entertainment, transportation, supply chains and security. Ram Group ...
(Date:4/18/2017)... SUNNYVALE, Calif. , April 18, 2017  Socionext Inc., a ... prototype of a media edge server, the M820, which features the ... face recognition software provided by Tera Probe, Inc., will be showcased ... and at the NAB show at the Las Vegas ... ...
(Date:4/13/2017)... 2017 According to a new market research report ... Identity Administration, and Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region ... expected to grow from USD 14.30 Billion in 2017 to USD 31.75 ... ... MarketsandMarkets Logo ...
Breaking Biology News(10 mins):