Biostar Pharmaceuticals (NASDAQ:BSPM)

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Friday, April 20, 2012

XIANYANG, China, April 20, 2012 /PRNewswire-Asia/ -- Biostar Pharmaceuticals, Inc. (NASDAQ GM: BSPM) ("Biostar" or "the Company"), a PRC-based manufacturer and marketer of pharmaceutical and health supplement products in China for a variety of diseases and conditions, today announced that it has received written notification from the Nasdaq Listing Qualifications department that it has regained compliance with the minimum bid price requirement of $1.00 per share for continued listing of its common stock on The NASDAQ Global Market set forth in Nasdaq Listing Rule 5450(a)(1), as its common shares achieved a closing bid price of $1.00 or more for 10 consecutive business days prior to the compliance deadline of April 23, 2012 and this matter is now closed.

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Tuesday, November 1, 2011

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 25, 2011, the Company received a letter from the Nasdaq Stock Market (“Nasdaq”) notifying the Company that for the past 30 consecutive business days, the bid price for the Company’s common stock has closed below the minimum $1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1). Pursuant to the October 25, 2011 letter from Nasdaq, the Company has been granted a 180 calendar day grace period to regain compliance and, therefore, had until April 23, 2012 to regain compliance with the minimum bid price requirement. To regain compliance, the bid price for our common stock must close at $1.00 or higher for a minimum of 10 consecutive business days within the 180 day grace period.

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