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News Breaks
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September 27, 2010
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| 05:38 EDT |  | KUN |
| theflyonthewall.com: | China Shenghuo receives notice from NYSE Amex regarding listing standards | | China Shenghuo Pharmaceutical Holdings announced that on September 22, 2010, it received a deficiency letter from the NYSE Amex stating that the company was not in compliance with Section 1003ai of the AMEX's continued listing standards as a result of the company having stockholders' equity of less than $2M, and losses from continuing operations and net losses in two out of its three most recent fiscal years. The company was given an opportunity to submit a plan of compliance to the AMEX by October 22, 2010 to demonstrate the company's ability to regain compliance with Section 1003ai by March 22, 2012. The company expects to be profitable for the nine months ending September 30, 2010 and for FY10. The Plan that the company will present to the AMEX will show that the company projects that within the 18-month plan period its stockholders' equity will increase to the $2M level as a result of its internally generated return to profitability. :theflyonthewall.com |
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