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

Aoxing Pharmaceutical Company, Inc. Receives Notice of Extension From NYSE MKT 
LLC 
JERSEY CITY, NJ -- (Marketwired) -- 01/15/14 --  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 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. On
December 4, 2013, Aoxing Pharma announced that it had received
additional notice from NYSE MKT LLC that, based upon the financial
statements contained in Aoxing Pharma's Quarterly Report on Form 10-Q
for the period ended September 30, 2013, it 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 Company was afforded the opportunity to submit a plan of
compliance to the Exchange. On November 25, 2013 the Company
presented its plan of compliance with Section 1003(a)(iii) and on
December 26, 2013 the Company presented supplemental material as its
plan of compliance with Section 1003(a)(ii). On January 10, 2014 the
Exchange notified the Company that it accepted the Company's plan of
compliance with Section 1003(a)(ii) and Section 1003(a)(iii) and
granted the Company an extension until April 27, 2015 to regain
compliance with Sections 1003(a)(ii) and 1003(a)(iii). 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 Sections 1003(a)(ii) and (1003(a)(iii)
by the end of the extension period could result in the Company being
delisted from the NYSE MKT LLC. 
The Company's plan of compliance with Sections 1003(a)(ii) and
1003(a)(iii) are supplemental to, and not in lieu of, the Company's
plan of compliance with Section 1003(a)(iv) of the Company Guide,
which Aoxing Pharma submitted to NYSE MKT LLC in response to its
notice that Aoxing Pharma 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. 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). Failure to make progress consistent with the plan or to
regain compliance with Section 1003(a)(iv) by March 1, 2014 could
result in the Company being delisted from the NYSE MKT LLC,
notwithstanding the Company's ongoing progress in achieving
compliance with Sections 1003(a)(ii) and 1003(a)(iii). 
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