Biostar Pharmaceuticals, Inc. (BSPM)

[finesand]

BSPM’s Delinquency Status

Read my friend's assessment about BSPM's delinquency status https://finesand.wordpress.com/biostar-pharmaceuticals-bspm-delinquency/

Excerpt here:

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Now I called NASDAQ today on 2018-06-28 12pm EST at [phone] and they told me they could not give me any specific information regarding any company’s filing status and I would need to have to wait until news are being presented. Persistent as I am, I asked her about their general procedure in these cases:

- What happens if NASDAQ accepts the plan after the 60 days (here after 6/18)?
- What happens if NASDAQ rejects the plan after the 60 days (here after 6/18)?

Here answer (by memory):

- If we accept the plan, Company has not to PR anything. They only need to PR and file the deficiency letter. We also do not PR or file anything in this case.
- If we deny the plan, in general we will send a delisting notice out within 5 days.

....

Today is the 8th business day or 10th calendar day after the 60 day deadline on 6/18.

One may want to adjust their risk / reward assessment the longer we get away from 6/18. IMHO, the delisting risk is already gone by now, at least this is my opinion.

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