Aoxing Pharmaceutical Company, Inc. Receives Notice of Extension and Additional Notice of Noncompliance From NYSE MKT LLC

Aoxing Pharmaceutical Company, Inc. Receives Notice of Extension and Additional 
Notice of Noncompliance From NYSE MKT LLC 
JERSEY CITY, NJ -- (Marketwired) -- 12/04/13 --  Aoxing
Pharmaceutical Company, Inc. (NYSE MKT: AXN) ("Aoxing Pharma"), a
specialty pharmaceutical company focusing on research, development,
manufacturing, and distribution of narcotic, pain-management, and
addiction treatment pharmaceuticals, announced on October 30, 2013
that it had received notice from NYSE MKT LLC that, based upon the
financial statements contained in Aoxing Pharma's Annual Report on
Form 10-K for the year ended June 30, 2013, Aoxing Pharma (a) is not
in compliance with Section 1003(a)(iii) of the NYSE MKT Company Guide
since it reported stockholders' equity of less than $6,000,000 at
June 30, 2013 and has incurred losses from continuing operations
and/or net losses in its five most recent fiscal years then ended,
and (b) is not in compliance with Section 1003(a)(iv) of the Company
Guide since it has sustained losses that are so substantial in
relation to its overall operations or its existing financial
resources, or its financial condition has become so impaired that it
appears questionable, in the opinion of the NYSE MKT, as to whether
the Company will be able to continue operations and/or meet its
obligations as they mature.  
The Company was afforded the opportunity to submit plans of
compliance to the Exchange. On November 8, 2013 the Company presented
its plan of compliance with Section 1003(a)(iv). On December 3, 2013
the Exchange notified the Company that it accepted the Company's plan
of compliance with Section 1003(a)(iv) and granted the Company an
extension until March 1, 2014 to regain compliance with Section
1003(a)(iv). The Company will be subject to periodic review by the
Exchange Staff during the extension period. Failure to make progress
consistent with the plan or to regain compliance with Section
1003(a)(iv) by the end of the extension period could result in the
Company being delisted from the NYSE MKT LLC. 
On November 25, 2013 the Company presented its plan of compliance
with Section 1003(a)(iii). However, on December 3, 2013 the Exchange
notified the Company that its review of the Company's Form 10-Q for
the quarter ended September 30, 2013 indicated that Aox
ing Pharma is
also not in compliance with Section 1003(a)(ii) of the Company Guide
since it reported stockholders' equity of less than $4,000,000 at
September 30, 2013 and has incurred losses from continuing operations
and/or net losses in three of its four most recent fiscal years ended
June 30, 2013. The notice advised that Aoxing Pharma is not required
to submit an additional plan of compliance, but will be permitted to
supplement the plan of compliance submitted on November 25, 2013 to
address how it intends to regain compliance with Section 1003(a)(ii)
by April 27, 2015. If the plan, as supplemented, is not accepted,
Aoxing Pharma will be subject to delisting proceedings. 
Management of Aoxing Pharma intends to supplement the plan of
compliance submitted on November 25, 2013 on the stated schedule.  
About Aoxing Pharmaceutical Company, Inc. 
 Aoxing Pharmaceutical
Company, Inc. is a US incorporated specialty pharmaceutical company
with its operations in China, specializing in research, development,
manufacturing and distribution of a variety of narcotics and
pain-management products. Headquartered in Shijiazhuang City, outside
Beijing, Aoxing Pharma has the largest and most advanced
manufacturing facility in China for highly regulated narcotic
medicines. Its facility is one of the few GMP facilities licensed for
the manufacture of narcotic medicines by the China State Food and
Drug Administration (SFDA). Aoxing Pharma has a joint venture
collaboration with Johnson Matthey Plc to produce and market
narcotics and neurological drugs in China. For more information,
please visit: www.aoxingpharma.com.  
CONTACT: 
Aoxing Pharmaceutical Company:
646-367-1747
investor.relations@aoxingpharma.com