Navigation Links
NASDAQ Grants China Jo-Jo Drugstores 180-Day Extension to Regain Compliance with Bid Price Requirement
Date:11/12/2013

HANGZHOU, China, Nov. 12, 2013 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (the "Company"), a retail and wholesale distributor of pharmaceutical and other healthcare products in China, today announced that on November 6, 2013, it received notification from NASDAQ granting the Company an additional 180-day period, or until May 5, 2014, to remain listed on the NASDAQ Capital Market and to regain compliance with NASDAQ's minimum $1.00 bid price per share rule.

Under NASDAQ Listing Rules, the Company was granted this extension because it met the continued listing requirement for market value of publicly held shares and all other applicable NASDAQ listing requirements, except the bid price requirement. The Company provided written notice to NASDAQ of its intention to cure the bid price deficiency during the second compliance period by affecting a reverse stock split, if necessary.

The Company will regain compliance with the minimum bid requirement if at any time prior to May 5, 2014, the bid price for the Company's common stock closes at $1.00 per share or above for a minimum of 10 consecutive business days.

If the Company does not regain compliance by the end of this extension period, it will receive notification from NASDAQ that its shares are subject to delisting. At that point, the Company may then appeal the delisting determination to a NASDAQ Hearings Panel.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., through its subsidiaries and contractually controlled affiliates, is a retailer and wholesale distributor of pharmaceutical and other healthcare products in the People's Republic of China. As of September 30, 2013, the Company had 51 retail pharmacies throughout Zhejiang Province and Shanghai.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.


'/>"/>
SOURCE China Jo-Jo Drugstores, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Immune Pharmaceuticals Appoints Liquidity Provider to Facilitate Trading on NASDAQ OMX Stockholm Exchange
2. Sorrento Therapeutics Announces Pricing of Public Offering of 4,150,000 Shares of Common Stock and Listing on NASDAQ
3. Hologic to Mark Start of Breast Cancer Awareness Month with NASDAQ Opening Bell Ceremony
4. Immune Pharmaceuticals Inc. Trading Symbol is Now IMNP on Both NASDAQ OMX Stockholm Exchange and OTCQX Trading Platform
5. Cyberonics Reports Inducement Equity Award Under NASDAQ Listing Rule 5635(c)(4)
6. VirtualScopics Regains NASDAQ Compliance
7. Henry Schein to Open NASDAQ Stock Market to Celebrate Rebranding of U.S. Animal Health Business
8. Avanir Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
9. Anthera Pharmaceuticals Announces Receipt of Nasdaq Notice
10. Ohr Pharmaceutical Announces Approval for Listing on NASDAQ
11. The Law Offices of Marc S. Henzel Announces Class Action Lawsuit Against Aveo Pharmaceuticals, Inc. and Certain Officers -- (Nasdaq: AVEO) was filed on behalf of stockholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... N.J. , Feb. 9, 2016  Bluestar Silicones ... (LSR) product line for long-term implant applications and ... Medical Design & Manufacturing (MD&M) West Conference (Booth ... --> --> ... Silbione® Biomedical LSRs offer outstanding physical properties enabling ...
(Date:2/8/2016)... Respiratory Devices - Medical Devices Pipeline ... sector report, " Respiratory Devices - Medical Devices ... Respiratory Devices currently in pipeline stage. The ... with comparative analysis of the products at various ... involved in the pipeline product development. It also ...
(Date:2/8/2016)... 8, 2016 CBG Technologies, a U.S. ... Solvent Recycling Systems, specifically designed for precision parts ... new and existing vapor degreasers, parts washers and ... through continuous recycling and recovers 100% of the ... --> Precision parts manufacturers benefit from ...
Breaking Medicine Technology:
(Date:2/9/2016)... ... February 09, 2016 , ... Cirracore Enterprise ... enterprises move workloads to the cloud. Cirracore provides a secure VMware® vCloud ... traversing the Internet. Transformation Solutions (TSL Partners) provides a full range of ...
(Date:2/9/2016)... (PRWEB) , ... February 09, 2016 , ... ... specialty pharmacies, announces today the continuation of the ‘Pay It Forward’ program into ... prescription referral received at our specialty pharmacy. , “Since our Pay It ...
(Date:2/9/2016)... ... February 09, 2016 , ... On January 12, 2016 Paul ... appointment after they noticed their furnace not producing any heat. Shortly after entering the ... cracked heat exchanger was leaking dangerous levels of carbon monoxide into the home, at ...
(Date:2/9/2016)... ... February 09, 2016 , ... The ... Herberger’s and Younkers department stores, announced it has raised $176,000 to benefit the ... Holden Comprehensive Cancer Center at the University of Iowa, The Lynn Sage Cancer ...
(Date:2/9/2016)... ... 09, 2016 , ... ZipHearing.com is proud to ... hearing aids , increase industry transparency, and promote awareness of hearing solutions ... “For the average consumer, the hearing aid industry is esoteric and difficult to ...
Breaking Medicine News(10 mins):