Haikou, China, July 18, 2022 /PRNewswire/ — China Pharma Holdings, Inc. (NYSE American: CPHI) (“China Pharma”, the “Company” or “We”), a specialty pharmaceutical company, today announced that the July 15, 2022the Company has submitted a compliance plan to NYSE American LLC (“NYSE American” or the “Exchange”) to address the Company’s capital deficiency, as set forth in the Exchange’s letter dated June 15, 2022 (the letter”).
As previously announced in a press release dated June 22, 2022according to the Letter, in order to maintain its listing, the Company must submit a compliance plan by July 15, 2022 explaining how it intends to restore compliance with Section 1003(a)(iii) of the Company Guide by December 15, 2023.
M/s. Zhilin LiChairman and CEO of China Pharma, said, “NYSE American staff have indicated they can accept the compliance plan. During the next 18-month grace period or per December 15, 2023we will actively provide the additional information required by the Exchange, implement the plan and work to restore equity compliance as required by the Exchange listing requirement as soon as possible.”
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. (NYSE American: CPHI) is a specialty pharmaceutical company that develops, manufactures and markets a diversified portfolio of products, focusing on high-incidence, high-fatality conditions in China, including cardiovascular, CNS, infectious and digestive diseases. The Company’s profitable business model is driven by market demand and supported by new GMP certified product lines covering major dosage forms. In addition, the Company has an extensive and growing national distribution network in all major cities and provinces of China. The Company’s wholly-owned subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd., is located in Haikou Town, Hainan Province. For more information about China Pharma Holdings, Inc., please visit www.chinapharmaholdings.com. The Company regularly posts important information on its website.
Safe Harbor Statement
Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Any statements set forth above that are not historical facts are forward-looking statements. that involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties may include, but are not limited to: the feasibility of financial guidance; successful new product development; unexpected changes in product demand; increased competition; downturns in the Chinese economy; uncompetitive levels of research and development; and other information detailed from time to time in the Company’s filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or to changes in the expectations of the Company, except as required by applicable law. or regulation.
SOURCEChina Pharma Holdings, Inc.
