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<SEC-DOCUMENT>0001116502-06-000347.txt : 20060216
<SEC-HEADER>0001116502-06-000347.hdr.sgml : 20060216
<ACCEPTANCE-DATETIME>20060216134018
ACCESSION NUMBER:		0001116502-06-000347
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060210
FILED AS OF DATE:		20060216
DATE AS OF CHANGE:		20060216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA NATURAL RESOURCES INC
		CENTRAL INDEX KEY:			0000793628
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26046
		FILM NUMBER:		06624573

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 2105 WEST TOWER SHUN TAK CENTRE
		STREET 2:		200 CONNAUGHT ROAD C
		CITY:			SHEUNG WAN
		STATE:			K3
		ZIP:			-
		BUSINESS PHONE:		01185228107205

	MAIL ADDRESS:	
		STREET 1:		ROOM 2105 WEST TOWER SHUN TAK CENTRE
		STREET 2:		200 CONNAUGHT ROAD C
		CITY:			SHEUNG WAN HONG KONG
		STATE:			K3
		ZIP:			-

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA RESOURCES DEVELOPMENT INC
		DATE OF NAME CHANGE:	19950104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGENTA CORP
		DATE OF NAME CHANGE:	19940217
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
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<DESCRIPTION>FORM 6-K
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>BP - x1-54949 - ChinaNaturalResources,Inc. - 6-K</TITLE>
<META NAME="keywords" CONTENT="Bassett Press, Inc. 954-928-2862">
<META NAME="author" CONTENT="Bassett Press, Inc. 954-928-2862">
<META NAME="date" CONTENT="02/15/2006">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin-top:0pt; margin-bottom:6.65pt" align=right><BR></P>
<P style="margin-top:0pt; margin-bottom:1.65pt; padding-bottom:3pt; border-bottom:3pt solid #000000" align=right><FONT FACE="Times New Roman" COLOR=#000000>&nbsp;</FONT></P>
<P style="margin:0pt; padding-top:3pt; border-top:1pt solid #000000" align=right>&nbsp;</P>
<P style="line-height:18pt; margin:0pt; font-size:16pt" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin-top:13.35pt; margin-bottom:0pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="line-height:12.5pt; margin-top:2.65pt; margin-bottom:2.65pt; font-size:10.5pt" align=center><B><SUP>______________</SUP></B></P>
<P style="line-height:18pt; margin-top:16pt; margin-bottom:0pt; font-size:16pt" align=center><B>Form 6-K</B></P>
<P style="line-height:12.5pt; margin-top:2.65pt; margin-bottom:2.65pt; font-size:10.5pt" align=center><B><SUP>______________</SUP></B></P>
<P style="margin-top:13.35pt; margin-bottom:0pt" align=center><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 </B></P>
<P style="margin:0pt" align=center><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P style="margin-top:6.65pt; margin-bottom:0pt" align=center><B>For the month of February&nbsp;2006</B></P>
<P style="margin-top:10pt; margin-bottom:0pt" align=center><B>Commission File Number 0-26046</B></P>
<P style="line-height:18pt; margin-top:21.35pt; margin-bottom:0pt; font-size:16pt" align=center><B>China Natural Resources, Inc.</B></P>
<P style="line-height:10pt; margin:0pt; font-size:8pt" align=center><B>(Translation of registrant&#146;s name into English)</B></P>
<P style="margin-top:13.35pt; margin-bottom:0pt" align=center><B>Room 2105, West Tower, Shun Tak Centre,</B></P>
<P style="margin:0pt" align=center><B>200 Connaught Road C., Sheung Wan, Hong Kong</B></P>
<P style="line-height:10pt; margin:0pt; font-size:8pt" align=center><B>(Address of principal executive offices)</B></P>
<P style="margin-top:6.65pt; margin-bottom:0pt">Indicate by check mark whether the registrant files of will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F <FONT FACE="Wingdings">&#253;</FONT>Form 40-F <FONT FACE="Wingdings">&#168;</FONT></P>
<P style="margin-top:6.65pt; margin-bottom:0pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <FONT FACE="Wingdings">&#168;</FONT></P>
<P style="margin-top:6.65pt; margin-bottom:0pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <FONT FACE="Wingdings">&#168;</FONT></P>
<P style="margin-top:6.65pt; margin-bottom:0pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12b3-2(b) under the Securities Exchange Act of 1934. Yes <FONT FACE="Wingdings">&#168;</FONT> No <FONT FACE="Wingdings">&#253;</FONT>.</P>
<P style="margin-top:6.65pt; margin-bottom:0pt">If &#147;Yes&#148; is marked, indicated below the file number assigned to the registrant in connection with Rule 12b3-2(b): 82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;.</P>
<P style="margin-top:0pt; margin-bottom:1.65pt; padding-bottom:3pt; border-bottom:1pt solid #000000">&nbsp;</P>
<P style="margin:0pt; padding-top:3pt; border-top:3pt solid #000000">&nbsp;</P>
<P style="margin:0pt"><BR>
<BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="margin:0pt; page-break-before:always"><B>Notice of Nasdaq Staff Determination and Delisting; Appeal Filed</B></P>
<P style="margin-top:6.65pt; margin-bottom:0pt; text-indent:36pt">China Natural Resources, Inc. has received a Nasdaq Staff Determination dated February 10, 2006, that the Company&#146;s recent acquisition of Feishang Mining Holdings Limited constitutes a &#147;reverse merger&#148; within the meaning of Nasdaq Marketplace Rule 4340(a). As a result, Nasdaq rules require the post-acquisition Company to seek continued listing by filing a new listing application with Nasdaq, and meeting Nasdaq&#146;s new listing criteria.</P>
<P style="margin-top:6.65pt; margin-bottom:0pt; text-indent:36pt">Nasdaq has advised the Company that, due to its failure to file a post-acquisition new listing application, the Company has not complied with Nasdaq Marketplace Rule 4340(a) and, as a result, its securities will be delisted from Nasdaq effective as of the opening of business on February&nbsp;22, 2006.</P>
<P style="margin-top:6.65pt; margin-bottom:0pt; text-indent:36pt">The Company has appealed the Nasdaq Staff determination by requesting a hearing before a Nasdaq Listing Qualifications Panel. The filing of that request stays delisting of the Company&#146;s securities pending the hearing panel&#146;s determination. Prior to the hearing, the Company intends to submit a new listing application and, at the hearing, hopes to demonstrate to the hearing panel that the post-acquisition Company meets Nasdaq&#146;s new listing criteria. Submission of the new listing application does not stay the delisting process, and there is no assurance that the hearing panel will grant the Company&#146;s request for continued listing.</P>
<P style="margin-top:6.65pt; margin-bottom:0pt; text-indent:36pt">This report includes forward-looking statements within the meaning of Federal securities laws. These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward-looking statements. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People&#146;s Republic of China and other risks detailed from time to time in the Company&#146;s Securities and Exchange Commission filings. Although the Company&#146;s management believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations wi
ll prove to be accurate.</P>
<P style="margin-top:10pt; margin-bottom:0pt; padding-left:72pt; text-indent:-72pt"><B>Exhibits</B></P>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=45></TD><TD width=12.5></TD><TD width=325></TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=60><P style="line-height:10pt; margin:0pt; font-size:8pt" align=center><B>Exhibit&nbsp;No.</B></P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=433.333><P style="line-height:10pt; margin:0pt; font-size:8pt"><B>Description</B></P>
</TD></TR>
<TR><TD valign=top width=60><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=433.333><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=60><P style="margin:0pt; color:#0000FF" align=center><A HREF="pressrelease.htm"><FONT COLOR=#0000FF><U>99.1</U></FONT></A><FONT COLOR=#000000></FONT></P>
</TD><TD valign=top width=16.667><P style="margin:0pt"><FONT COLOR=#000000>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
</TD><TD valign=top width=433.333><P style="margin:0pt">Press Release dated February&nbsp;16, 2006</P>
</TD></TR>
</TABLE>
<P style="margin:0pt" align=center><BR>
<BR></P>
<P style="line-height:17pt; margin:0pt" align=center>2</P>
<P style="margin:0pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="margin:0pt; page-break-before:always" align=center><B>SIGNATURES</B></P>
<P style="margin-top:6.65pt; margin-bottom:0pt; text-indent:36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunder duly authorized.</P>
<P style="margin-top:6.65pt; margin-bottom:0pt">Date: &nbsp;February&nbsp;16, 2006</P>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=258.75></TD><TD width=20.95></TD><TD width=188.3></TD></TR>
<TR><TD valign=top width=345><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=279 colspan=2>&nbsp;</TD></TR>
<TR><TD valign=top width=345>&nbsp;</TD><TD valign=top width=279 colspan=2><P style="margin:0pt"><B>CHINA&nbsp;NATURAL&nbsp;RESOURCES,&nbsp;INC.</B></P>
</TD></TR>
<TR><TD valign=top width=345>&nbsp;</TD><TD valign=top width=27.933>&nbsp;</TD><TD valign=top width=251.067>&nbsp;</TD></TR>
<TR><TD valign=top width=345>&nbsp;</TD><TD valign=top width=27.933><P style="margin:0pt" align=right>By:&nbsp;&nbsp;</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=251.067><P style="line-height:normal; margin:0pt">/s/&nbsp;<SMALL>&nbsp;<BIG>T<SMALL>AM<BIG> C<SMALL>HEUK<BIG> H<SMALL>O</SMALL></P>
</TD></TR>
<TR><TD valign=top width=345>&nbsp;</TD><TD valign=top width=27.933>&nbsp;</TD><TD valign=top width=251.067><P style="margin:0pt">Tam Cheuk Ho</P>
</TD></TR>
<TR><TD valign=top width=345>&nbsp;</TD><TD valign=top width=27.933>&nbsp;</TD><TD valign=top width=251.067><P style="margin:0pt">Chief Financial Officer</P>
</TD></TR>
</TABLE>
<P style="margin-top:6.65pt; margin-bottom:0pt"><BR>
<BR></P>
<P style="line-height:17pt; margin:0pt" align=center>3</P>
<P style="margin:0pt"><BR></P>
<HR style="padding-top:7.2pt; padding-bottom:7.2pt" noshade size=1.333>
<P style="margin:0pt; page-break-before:always" align=center><B>EXHIBIT INDEX</B></P>
<P style="margin-top:6.65pt; margin-bottom:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=45></TD><TD width=12.5></TD><TD width=325></TD></TR>
<TR><TD style="border-bottom:0.5pt solid #000000" valign=top width=60><P style="line-height:10pt; margin:0pt; font-size:8pt" align=center><B>Exhibit&nbsp;No.</B></P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=433.333><P style="line-height:10pt; margin:0pt; font-size:8pt"><B>Description</B></P>
</TD></TR>
<TR><TD valign=top width=60><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=top width=16.667>&nbsp;</TD><TD valign=top width=433.333><P style="margin:0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD valign=top width=60><P style="margin:0pt; color:#0000FF" align=center><A HREF="pressrelease.htm"><FONT COLOR=#0000FF><U>99.1</U></FONT></A><FONT COLOR=#000000></FONT></P>
</TD><TD valign=top width=16.667><P style="margin:0pt"><FONT COLOR=#000000>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>
</TD><TD valign=top width=433.333><P style="margin:0pt">Press Release dated February&nbsp;16, 2006</P>
</TD></TR>
</TABLE>
<P style="margin-top:6.65pt; margin-bottom:0pt"><BR></P>
<P style="margin-top:6.65pt; margin-bottom:0pt"><BR>
<BR></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="margin:0pt"><BR></P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>pressrelease.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>BP - x1-54949 - ChinaNaturalResources,Inc. - Press Release</TITLE>
<META NAME="keywords" CONTENT="Bassett Press, Inc. 954-928-2862">
<META NAME="author" CONTENT="Bassett Press, Inc. 954-928-2862">
<META NAME="date" CONTENT="02/15/2006">
</HEAD>
<BODY style="line-height:12pt; font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0pt" align=right><FONT FACE="Times New Roman"><B>Exhibit 99.1</B></FONT></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify><B>CONTACT</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>Edward Wong, Financial Controller</P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>011-852-2810-7205 or fc@chrb.com</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify><B>FOR IMMEDIATE RELEASE</B></P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>CHINA NATURAL RESOURCES, INC.</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>RECEIVES DELISTING DETERMINATION FROM NASDAQ;</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>COMPANY APPEALS DETERMINATION</B></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>HONG KONG, February 16, 2006 &#150; CHINA NATURAL RESOURCES, INC. (NASDAQ: CHNR), a company based in the People&#146;s Republic of China (PRC), today announced that it has received a Nasdaq Staff Determination that the Company&#146;s recent acquisition of Feishang Mining Holdings Limited constitutes a &#147;reverse merger&#148; within the meaning of Nasdaq Marketplace Rule 4340(a). &nbsp;As a result, Nasdaq rules require the post-acquisition Company to seek continued listing by filing a new listing application with Nasdaq, and meeting Nasdaq&#146;s new listing criteria.</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>Nasdaq has advised the Company that, due to its failure to file a post-acquisition new listing application, the Company has not complied with Nasdaq Marketplace Rule 4340(a) and, as a result, its securities will be delisted from Nasdaq effective as of the opening of business on February 22, 2006.</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>The Company has appealed the Staff&#146;s determination by requesting a hearing before a Nasdaq Listing Qualifications Panel. &nbsp;The filing of that request stays delisting of the Company&#146;s securities pending the hearing panel&#146;s determination. &nbsp;</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>Prior to the hearing, the Company intends to submit a new listing application and, at the hearing, hopes to demonstrate to the hearing panel that the post-acquisition Company meets Nasdaq&#146;s new listing criteria. &nbsp;Submission of the new listing application does not stay the delisting process, and there is no assurance that the hearing panel will grant the Company&#146;s request for continued listing.</P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>This press release includes forward-looking statements within the meaning of Federal securities laws. &nbsp;These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward-looking statements. &nbsp;Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People&#146;s Republic of China and other risks detailed from time to time in the Company&#146;s Securities and Exchange Commission filings. Although the Company&#146;s management believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance th
at such expectations will prove to be accurate.</P>
<P style="margin:0pt" align=justify><BR>
<BR></P>
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