Navigation Links
American Oriental Bioengineering Inc. Receives NYSE Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Date:9/27/2011

JERSEY CITY, N. J., Sept. 27, 2011 /PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering, Inc. (NYSE: AOB) (the "Company") today announced that the New York Stock Exchange (the "NYSE") has notified the Company that the Company has fallen below the NYSE's continued listing standard that requires a minimum average closing price of $1.00 per share over 30 consecutive trading days.

Under NYSE rules, the Company has six months from receipt of the notice to cure the deficiency by regaining compliance with the minimum share price requirement. Subject to compliance with the NYSE's other continued listing requirements, the Company's common stock will continue to be listed and trade on the NYSE during the six month cure period.

Under NYSE rules, the Company has ten business days following receipt of the notice, which will be October 5, 2011, to respond by letter to the NYSE and indicate its intention to cure this deficiency, or, the Company will be subject to suspension and delisting procedures by the NYSE. The Company is currently looking at all of the options available with respect to curing this deficiency and intends to send a letter to the NYSE within this timeframe.

The Company can regain compliance during, and until the expiration of the six month cure period, if on the last trading day of any calendar month the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. If the Company takes an action to regain compliance that would require approval by its stockholders, the Company must obtain such approval by no later than its next annual meeting of stockholders and must implement the action promptly thereafter. The condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above the level for at least the following 30 trading days. If the Company fails to regain compliance in the manner described, the NYSE will commence suspension and delisting procedures.

The Company's business operations, Securities and Exchange Commission reporting requirements and debt obligations are not affected by the receipt of the NYSE notification.

About American Oriental Bioengineering, Inc.American Oriental Bioengineering, Inc. is a pharmaceutical company dedicated to improving health through the development, manufacture and commercialization of a broad range of prescription and over the counter products.

Safe Harbor StatementStatements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995.  Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.  The economic, competitive, governmental, technological and other factors identified in the Company's filings with the Securities and Exchange Commission, may cause actual results or events to differ materially from those described in the forward looking statements in this press release.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.Contact:Hong Zhu646- 367-1765
'/>"/>

SOURCE American Oriental Bioengineering, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Americans Favor Investment in Community and Home-Based Health Care, According to Harris Interactive Survey, September 2011
2. Neurocrine Biosciences Announces Elagolix Scientific Presentations at the 67th Annual Meeting of the American Society for Reproductive Medicine
3. Consumer Reports Poll: 48 Percent of Americans on Meds Making Risky Health Care Tradeoffs
4. NxStage Board Member Dr. Barry M. Straube Honored with Prestigious Award from the American Association of Kidney Patients
5. Pacira Pharmaceuticals, Inc. Announces Efficacy and Safety of EXPAREL™ Highlighted at "Hot Topics in Plastic Surgery" Panel at the 2011 Annual Meeting of the American Society of Plastic Surgeons
6. MiMedx Groups EpiFix® Receives American Podiatric Medical Association Seal of Approval
7. Lung Cancer Study Reveals Similar Outcomes for African-American and Caucasian Patients Treated With Alimta®
8. Bionovo to Present Tissue Selective Estrogen Receptor Modulators for Obesity at the 22nd Annual Meeting of the North American Menopause Society
9. The 62nd Annual Meeting of the American Association for the Study of Liver Diseases
10. American Pharmacists Association Partners with HHS, CDC and CMS in the Million Hearts Initiative
11. American Animal Hospital Association and Heska Corporation Announce New Online Continuing Education Series
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... -- Jazz Pharmaceuticals plc (Nasdaq: JAZZ ) ... Improvements Act of 1976, as amended ("HSR"), with respect ... Nasdaq: CPXX ) expired effective June 24, ... As previously announced on May 31, 2016, Jazz Pharmaceuticals ... which Jazz Pharmaceuticals has commenced a tender offer for ...
(Date:6/24/2016)... June 24, 2016  Collagen Matrix, Inc., ("Collagen ... and manufacturing of collagen and mineral based medical ... that Bill Messer has joined the ... further leverage the growing portfolio of oral surgery, ... Bill joins the Collagen Matrix executive team ...
(Date:6/24/2016)... June 24, 2016 Research ... "Structural Electronics 2015-2025: Applications, Technologies, Forecasts" ... In-Mold Electronics, Smart Skin, Structural Health ... Structural electronics involves electronic and/or electrical ... structures, replacing dumb structures such as vehicle bodies ...
Breaking Medicine Technology:
(Date:6/26/2016)... , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal ... personalized through a fitness app. The fitness app plans to fix the two major problems ... offer a one size fits all type program , They don’t eliminate all ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture ... said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package ... Final Cut Pro X . Simply select a ProHand generator and drag it ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... Conventional wisdom ... of success. In terms of the latter, setting the bar too high can result ... more than just slow progress toward their goal. , Research from PsychTests.com ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association (PHA) ... will receive two significant new grants to support its work to advance research ... anniversary by recognizing patients, medical professionals and scientists for their work in fighting ...
(Date:6/24/2016)... Plano, TX (PRWEB) , ... June 24, 2016 , ... ... taking part in Genome magazine’s Code Talker Award, an essay contest in which patients ... for an award to be presented at the 2016 National Society of Genetic Counselors ...
Breaking Medicine News(10 mins):