XIANYANG, China, Dec. 4, 2015 /PRNewswire/ -- Biostar Pharmaceuticals, Inc. (NASDAQ: BSPM) ("Biostar", "we" or the "Company"), a manufacturer and marketer of pharmaceutical and health supplements to treat a variety of diseases and ailments, headquartered in China, today announced that the Company has decided to postpone the Annual Meeting of Shareholders (the "Annual Meeting") for lack of quorum to conduct business at the Annual Meeting. The Annual Meeting was originally scheduled to be held December 4, 2015, at the Company's offices in Xianyang City, Shaanxi Province, PRC.
The Company will notify shareholders of the new record date and meeting date and will send new proxy materials in the near term. Shareholders should note that the record date of the Annual Meeting will change. Shareholders as of the new record date will be entitled to attend and vote in person or by proxy at the postponed Annual Meeting as they would have if the meeting had taken place as originally scheduled on December 4, 2015. Proxies deposited to date will be invalid for the postponed Annual Meeting.
About Biostar Pharmaceuticals, Inc.
Biostar Pharmaceuticals, Inc. develops, manufactures and markets pharmaceutical and health supplement products for a variety of diseases and conditions. For more information please visit: http://www.biostarpharmaceuticals.com.
Safe Harbor Relating to the Forward-Looking Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company uses words and phrases such as "guidance," "forecasted," "projects," "is expected," "remain confident," "will" and similar expressions to identify forward-looking statements in this press release, including forward-looking statements. Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Biostar and described in the forward-looking information contained in this news release. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to hold the rescheduled Annual Meeting of Shareholders as intended, its ability to sustain its sales effort going forward, its ability to retain existing and retain new customers for its products, its ability to achieve the projected sales through the efforts of the call center, to complete the contemplated clinical trials and capitalize on such opportunities, the Company's ability to recover its sales and revenue for the gel capsule segment of its business, the state of consumer confidence and market demand or the Company's products, success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to sustain our previous levels of profitability including on account of our ability to manage growth, intense competition, wage increases in China, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, our ability to successfully complete and integrate potential acquisitions, withdrawal of governmental fiscal incentives, political instability and regional conflicts and legal restrictions on raising capital or acquiring companies outside China. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our most recent Annual Report on Form 10-K for the year ended December 31, 2014, and other subsequent filings. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by or on our behalf.
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SOURCE BIOSTAR PHARMACEUTICALS, INC.