Navigation Links
China Botanic Pharmaceutical Inc. Announces Receipt of Notice of Failure to Satisfy Continued Listing Letter

HARBIN, China, April 2, 2013 /PRNewswire/ -- China Botanic Pharmaceutical Inc. (AMEX: CBP) (formerly Renhuang Pharmaceuticals, Inc.) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, announced today that on March 27,  2013, the Company received a notice of failure to satisfy a continued listing standard (the "Letter") from the NYSE MKT LLC (the "Exchange") for its failure to timely file a Form 10-Q for the period ended January 31, 2013 by the deadline of March 25, 2013. 

The Company has previously been advised by a letter from the Exchange dated January 31, 2013, that the Company is currently subject to the procedures and requirements of Section 1009 of the NYSE MKT Company Guide ("Company Guide") because of its failure to meet certain continued listing standards under Part 10 of the Company Guide, resulting from its inability to timely its Form 10-K for the period ended October 31, 2012.  In response to the January 31, 2013 letter, the Company submitted a plan of compliance (the "Plan") on February 14, 2013, outlining actions that the Company has taken and intended to take to bring it back into compliance as of May 1, 2013.  The Plan was accepted on March 1, 2013. 

The timely filing of the Form 10-K and Form 10-Q are a condition for the Company's continued listing on the Exchange under Sections 134 and 1101 of the Company Guide.  In addition, this failure will be a material violation of its listing agreement with the Exchange, and under Section 1003(d) of the Company Guide the Exchange is authorized to suspend and unless prompt corrective action is taken, remove the Company's securities from the Exchange. 

The Letter indicates that although the Company is subject to such procedures and requirements of Section 1009 of the Company Guide as a result of its inability to timely file the Form 10-Q, due to the similar nature of its deficiencies, the Company is not required to submit an additional plan of compliance.  The Company was also advised that it remains subject to the conditions set forth in the letter from the Exchange dated January 31, 2013.  If the Company is not in compliance with all of the Exchange's continued listing standards within the timeframe provided or does not make progress consistent with the Plan during such plan period, the Exchange staff will initiate delisting proceedings as appropriate.


China Botanic Pharmaceutical Inc. is engaged in the research, development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines ("TCM"), in the People's Republic of China. All of the Company's products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China. For more information, please visit

Safe Harbor Statement

This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and financial performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's ability to manage expansion of its operations effectively, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission.  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. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.

Company Contact:

China Botanic Pharmaceutical Inc.
Ms. Portia Tan , IR Contact
Tel:    86-451-8260-2162

SOURCE China Botanic Pharmaceutical Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. China Nepstar Chain Drugstore Reports Fourth Quarter and Fiscal Year 2012 Financial Results
2. Doing Business in China: Research on Chinese Good Manufacturing Practice Regulations for Medical Devices
3. Pharmaceutical Manufacturing in China
4. TriReme Announces Signing of a Master Distribution Agreement in China
5. Cellular Biomedicine Group Marks the Launch of China Clinical Trial for TC-DC Therapy for Hepatocellular Carcinoma
6. Pharma Site Inspection Case Sharing at CPhI China Onsite Forum
7. China Human Immunoglobulin Market & 2013 Beverage Forecasts
8. China Biologic Reports Financial Results for the Fourth Quarter and Fiscal Year 2012
9. Domain Associates and Elite Consulting Collaborate to Create and Invest in Life Science Companies in China
10. X-Ray Systems Market Outlook in BRICS (Brazil, Russia, India, China, South Africa) to 2018
11. China Biologic Products to Report Fourth Quarter and Fiscal Year 2012 Financial Results
Post Your Comments:
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: RO, ... clearance for its Elecsys BRAHMS PCT (procalcitonin) assay as ... or septic shock. With this clearance, Roche is the ... fully integrated solution for sepsis risk assessment and management. ... bacterial infection and PCT levels in blood can aid ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June ... , brings up a new, often overlooked aspect of head lice: the parasite’s ability to ... is not a common occurrence, but a necessary one in the event that lice have ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin ... injury. Recently, he has implemented orthobiologic procedures as a method for treating his ... of the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
(Date:6/24/2016)... ... June 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced ... attorneys chosen by their peers for this recognition are considered among the top 2 ... received special honors as members of this year’s Legal Elite Hall of Fame: ...
(Date:6/24/2016)... ... June 24, 2016 , ... People across the U.S. are sharpening their pencils ... an essay contest in which patients and their families pay tribute to a genetic ... 2016 National Society of Genetic Counselors (NSGC) Annual Education Conference (AEC) this September. ...
Breaking Medicine News(10 mins):