BODISEN BIOTECH, INC. (¡°BODISEN¡± OR THE ¡°COMPANY¡±)
As previously announced on 20 March 2007, the Company stated that the American Stock Exchange (the ¡°Amex¡±) intended to strike the common stock of the Company from the Amex by filing a delisting application with the Securities and Exchange Commission (the ¡°SEC¡±). Although the Company has a limited right to appeal the basis for the delisting determination, by requesting a hearing with an Amex Listing Qualifications Panel, the Company has now determined not to appeal.
Currently, the Company¡¯s common stock is subject to a trading halt imposed by Amex. The Company expects the trading halt will remain in place pending the Amex formally delisting the Company¡¯s common stock. Following the formal de-listing, the Company¡¯s common stock may become eligible for trading on the OTC Bulletin Board. The Company¡¯s common stock continues to be traded on AIM.
The Company will continue its business operations in the normal course notwithstanding the status of the Amex listing.
As previously disclosed, the Company intends to provide additional information, and will make further SEC filings as appropriate, regarding the equity interests and the holdings of Qiong Wang and Bo Chen and possible third party claims once the Company and its advisers complete their review of the Company¡¯s internal records and any relevant documents, which remains ongoing at this time.
About Bodisen Biotech, Inc.
Bodisen Biotech Inc. is a leading manufacturer of liquid and organic compound fertilizers, pesticides, insecticides and agricultural raw materials certified by the Petroleum Chemical Industry Administrative office of China (Chemical Petroleum Production Administrative Bureau), Shaanxi provincial government and Chinese government. The Company is headquartered in Shaanxi province and is a Delaware corporation. The Company's environmentally friendly ¡°green¡± products have been proven to improve soil and plant quality, and increase crop yields.
Charles Stanley Securities
Richard Thompson / Philip Davies 020 7953 2000