HARBIN, China, May 28 /Xinhua-PRNewswire-FirstCall/ -- China Sky One
 Medical, Inc. (Amex:   CSY) (''China Sky One'' or ''the Company''), a
 manufacturer, marketer and distributor of pharmaceutical, medicinal and
 diagnostic products in China, announced today that it has engaged MSPC,
 Certified Public Accountants and Advisors LLP (''Moore Stephens'') as its
 independent auditor effective May 21, 2008. The Company terminated its
 contract with Sherb & Co., LLP that same day.
 
     The decision to change accountants was approved by the Company's Audit
 Committee and Board of Directors, effective as of May 21, 2008. Prior to
 the dismissal of Sherb & Co., LLP, the firm audited the Company's financial
 statements for the year ended December 31, 2007 and reviewed the Company's
 unaudited interim reports for the quarter ended March 31, 2008. In
 connection with such review, there were no disagreements with Sherb & Co.,
 LLP on any matter of accounting principles or practices, financial
 statement disclosure, or auditing scope or procedure.
 
     ''We look forward to working with our new independent auditor, Moore
 Stephens, to ensure that the Company continues to achieve high standards in
 financial reporting, which is in keeping with our profile as an American
 Stock Exchange listed company. We are committed to protecting the interests
 of our shareholders and providing transparent public disclosure,'' said Mr.
 Yan-qing Liu, Chairman, CEO and Director of China Sky One Medical, Inc.
 
     About China Sky One Medical, Inc.
 
     China Sky One Medical, Inc., a Nevada corporation, is a holding company
 whose principal operations are through its subsidiaries, which are engaged
 in the manufacturing, marketing and distribution of pharmaceutical,
 medicinal and diagnostic kit products. Through its wholly-owned PRC based
 subsidiaries, Harbin Tian Di Ren Medical Science and Technology Company
 Harbin First Bio-Engineering Company Limited and Heilongjiang Tianlong
 Pharmaceutical, Inc., the Company manufactures and distributes
 over-the-counter pharmaceutical products as its primary revenue source. For
 more information, visit http://www.skyonemedical.com .
 
     Safe Harbor Statement
 
     Certain of the statements made in the press release constitute
 forward-looking statements within the meaning of the Private Securities
 Litigation Reform Act of 1995. These statements can be identified by the
 use of forward-looking terminology such as "believe," "expect," "may,"
 "will," "should," "project," "plan," "seek," "intend," or "anticipate" or
 the negative thereof or comparable terminology. Such statements typically
 involve risks and uncertainties and may include financial projections or
 information regarding our future plans, objectives or performance. Actual
 results could differ materially from the expectations reflected in such
 forward-looking statements as a result of a variety of factors, including
 the inability of the company to meet the listing standards, risks
 associated with the effect of changing economic conditions in The People's
 Republic of China, variations in cash flow, reliance on collaborative
 retail partners and on new product development, variations in new product
 development, risks associated with rapid technological change, and the
 potential of introduced or undetected flaws and defects in products, and
 other risk factors detailed in reports filed with the Securities and
 Exchange Commission from time to time.
 
 

     For more information, please contact:
 
     Company Contact:
      China Sky One Medical, Inc.
      Mr. Liao Xiaoqing, CFO
      Tel:   +86-1591-067-2198
      Email: tdrhan@163.com
 
     Investor Relations Contact:
      CCG Elite Investor Relations Inc.
      Mr. Crocker Coulson, President
      Tel:   +1-646-213-1915 (New York)
      Email: crocker.coulson@ccgir.com
      Web:   http://www.ccgelite.com
 
 

SOURCE China Sky One Medical, Inc.

Back to top