XIANYANG, China, Aug. 23, 2018 (GLOBE NEWSWIRE) — Biostar Pharmaceuticals, Inc. (NASDAQ: BSPM) (the “Company”), a PRC-based architect and banker of biologic and bloom supplement articles in China, appear today that on August 16, 2018, it accustomed a notification letter from Nasdaq Advertisement Qualifications (“Nasdaq”) advising the Company that, back it had not filed its Quarterly Report on Form 10-Q for the added division concluded June 30, 2018, this amount serves as an added base for delisting the Company’s balance from The Nasdaq B Market.
Previously, on April 19, 2018 and May 23, 2018, the Company accustomed notification belletrist from Nasdaq advising the Company that, back it had not filed its Annual Report on Form 10-K for the budgetary year concluded December 31, 2017 and its Quarterly Report on Form 10-Q for the budgetary division concluded March 31, 2018, the Company was not in acquiescence with Nasdaq Advertisement Rules.
On July 19, 2018, the Company accustomed a delisting assurance letter from the Nasdaq advising the Company that afterward ysis of the Company’s plan of compliance, the Nasdaq agents bent to delist the Company’s accepted b from the Nasdaq Capital Market.
On July 26, 2018, the Company requested a audition afore the Nasdaq Hearings Panel (the “Panel”) to address the delisting assurance from the Nasdaq staff. On August 10, 2018, the Company was accepted an connected break as to the abeyance of the Company’s accepted b from trading by the Panel until the Company’s appointed audition afore the Panel on September 13, 2018 and arising of a final Panel decision.
As a aftereffect of the latest Form 10-Q filing delinquency, the Panel will accede this amount in apprehension a assurance apropos the Company’s connected advertisement on The Nasdaq Capital Market. Pursuant to Advertisement Rule 5810(d), the Company affairs to present its angle with account to this added absence at the hearing.
The Company is alive assiduously to complete its behind filings with SEC and to achieve acquiescence with the Rule as anon as possible.
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc., through its wholly endemic accessory and controlled associate in China, develops, manufactures, and markets biologic and bloom supplement articles for a array of diseases and conditions. For added advice amuse visit: http://www.biostarpharmaceuticals.com.
Cautionary Note Apropos Forward-Looking Statements
Certain statements in this columnist absolution are advanced statements that absorb a cardinal of risks and uncertainties. Such advanced statements accommodate statements about the Company’s cancellation of Nasdaq’s absence belletrist and plan to achieve acquiescence declared herein. Absolute contest or after-effects may alter materially from the Company’s expectations. Factors that could account absolute after-effects to alter materially from those declared or adumbrated by the Company’s advanced statements are appear in its filings with the Balance and Exchange Commission. These advanced statements represent the Company’s acumen as of the time of this release. The Company disclaims any absorbed or obligation to amend these advanced statements, added than as may be appropriate beneath applicative law.
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