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) -- 08/06/14 --  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, previously announced 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 and its Quarterly Reports on Form
10-Q for the periods ended September 30, 2013 and December 31, 2013,
Aoxing Pharma is not in compliance with the following sections of the
NYSE MKT Company Guide:  


 
--  Section 1003(a)(i) since it reported stockholders' equity of less than
    $2,000,000 at December 31, 2013 and has incurred losses from
    continuing operations and/or net losses in two of its three most
    recent fiscal years ended June 30, 2013;
--  Section 1003(a)(ii) 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;
--  Section 1003(a)(iii) 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
--  Section 1003(a)(iv) 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. Based on the plans of compliance submitted by the
Company, the Exchange granted the Company an extension until April
27, 2015 to regain compliance with Sections 1003(a)(i), 1003(a)(ii)
and 1003(a)(iii). The Exchange also granted the Company an extension
until June 30, 2014 to regain compliance with Section 1003(a)(iv).  
On August 4, 2014, the Exchange notified the Company that the period
during which it will be permitted to regain compliance with Section
1003(a)(iv) has been extended to September 21, 2014. The Company will
be subject to periodic review by the Exchange Staff during the
extension periods. Failure to make progress consistent with the plans
or to regain compliance with the listing standards by the ends of the
extension periods could result in the Company being delisted from the
NYSE MKT LLC. 
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 
 
 
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