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:2/22/2017)... Research and Markets has announced the addition of ... report to their offering. ... Dermatological conditions are one of the ... the US population suffers from at least one active skin ... market has remained saturated with established and generic products. However, ...
(Date:2/22/2017)... , Feb. 22, 2017   Protein Sciences Corporation ... Flublok® Influenza Vaccine , announced today that they ... Influenza Vaccine Introduction (PIVI) and the Mongolian Ministry of ... of the flu.  The doses of Flublok have been ... Mongolia for health care workers, pregnant women, ...
(Date:2/22/2017)... February 22, 2017 A research report by ... America and the continuously changing landscape of the legal ... in the North America , a 30% increase ... to $21.6 billion by the year 2021 representing a 26 percent ... the United States and Canada ...
Breaking Medicine Technology:
(Date:2/22/2017)... ... 2017 , ... Doctors on Liens is continuing its steady expansion of medical ... practicing at North Valley Eye Medical Group in Mission Hills . Eye injuries ... personal injury cases. These injuries have a major impact on the quality of ...
(Date:2/22/2017)... ... February 22, 2017 , ... ... newest advanced absorption cannabidiol (CBD) serum, “NANOCALM 300” Microemulsified Hemp Extract. This ... instant absorption from the mouth into the bloodstream. Far outpacing the ...
(Date:2/22/2017)... ... February 22, 2017 , ... ... country today, as organizations, advocates, and individuals join together to increase recognition about ... to ultimately save lives. , “Today we mark a nationwide movement to raise ...
(Date:2/22/2017)... ... February 22, 2017 , ... The Centers ... to help small practices in Delaware, New Jersey, Pennsylvania and West Virginia prepare ... Access and CHIP Reauthorization Act of 2015 (MACRA). , This technical assistance, ...
(Date:2/22/2017)... ... 22, 2017 , ... Bellus Medical, a leader in medical ... delivery of Platelet Rich Plasma (PRP). PRP systems are used by physicians in ... synthesis and provide a faster and more efficient healing process. There are many ...
Breaking Medicine News(10 mins):