XI'AN, CHINA -- (Marketwire) -- 01/20/12 -- Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) ("Skystar" or the "Company"), a China-based manufacturer and distributor of veterinary medicines, vaccines, micro-organisms and feed additives, today announced that it has been notified by the Nasdaq Listing Qualifications staff that its request for an oral hearing to appeal the staff's delisting determination has been granted and the staff set a hearing date for such oral hearing before the Panel, at which hearing Skystar will present to the Panel its plan and timeline to regain compliance with Nasdaq listing standards. Accordingly, the staff's delisting action has been stayed, pending a final written decision by the Nasdaq Hearings Panel. The hearing will be held on Thursday, March 1, 2012.
There can be no assurance that the Panel will grant the Company's request for continued listing. If the Panel does not grant the relief sought by the Company, its securities will be delisted from the Exchange in which event the Company would seek to cause them be quoted in over the counter markets, which may result in a substantially less liquid market for the securities.
To be added to the Company's email distribution for future news releases, please send your request to skystar@grayling.com.
About Skystar Bio-Pharmaceutical Company
Skystar is a China-based developer and distributor
of veterinary healthcare and medical care products. Skystar
has four product lines (veterinary medicines,
micro-organisms, vaccines and feed additives) and over 284
products. Skystar has formed strategic sales distribution
networks covering 29 provinces throughout China. For
additional information, please visit .
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
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, among many
others, the Company's ability to execute upon a plan of
compliance to regain its continued compliance and maintain
the listing of its securities on the Nasdaq Stock Market,
the likelihood of the Company's success in its appeal
before the Panel, 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.
Contacts:
Skystar Bio-Pharmaceutical Company
Scott Cramer
Director - Director Corporate Development and U.S.
(407) 645-4433
Grayling
Investor Relations
Christopher Chu
distribué par | Ce noodl a été diffusé par Skystar Bio-Pharmaceutical Company et initialement mise en ligne sur le site http://www.skystarbio-pharmaceutical.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-21 09:32:09 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |