SOURCE: Skystar

Skystar

January 20, 2012 17:14 ET

Skystar Receives Nasdaq Hearings Panel Date

Hearing Date to Appeal Delisting to Be Held March 1, 2012

XI'AN, CHINA--(Marketwire - Jan 20, 2012) - 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 http://www.skystarbio-pharmaceutical.com.

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.

Contact Information

  • Contacts:

    Skystar Bio-Pharmaceutical Company
    Scott Cramer
    Director - Director Corporate Development and U.S. Representative
    (407) 645-4433

    Grayling
    Investor Relations
    Christopher Chu
    (646) 284-9426
    Email Contact