SOURCE: BioPharm Asia, Inc.
TONGHUA, CHINA--(Marketwire - Nov 19, 2012) - Biopharm Asia, Inc. (PINKSHEETS: BFAR) is pleased to announce that Biopharm Asia, Inc. has finished the audit of the previous two fiscal years' financial statements. The Company has prepared a 15c 2-11 and is finalizing to submit it with FINRA no later than end of day, November 19, 2012.
An approval of 15c 2-11 application allows a market maker to "make a market" in the Company's stock, conducting principle buy and sell orders.
Through discussion with the Market Maker it is the Company's understanding that FINRA will conduct a review of the 15c 2-11 and follow up with questions and comments. Typically, FINRA would respond within 14 days of the filling. The Market Maker will work with the Company to respond to the questions and comments. Further questions may be raised by FINRA and the Company will continue to respond until FINRA has no further questions. Once FINRA is satisfied with the submission of the 15c 2-11 and the answers to subsequent questions, the Company would be granted an OTCBB listing.
With these steps to have its shares reinstated on the OTCBB the Company is excited to continue its commitment to increasing transparency, exposure and providing liquidity for its shareholders.
The information in this release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, specifically statements relating to listing and trading on the OTCBB contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Biopharm Asia to be materially different from the statements made herein. Although the Company believes that its expectations are based on reasonable assumptions, actual results may differ materially.