NEWARK, N.J., March 16, 2012
/PRNewswire-Asia-FirstCall/ -- American Oriental Bioengineering,
Inc. (NYSE: AOB) (the "Company"), today announced that its Annual
Report on Form 10-K for the fiscal year ended December 31, 2011, which was due on March 15, 2012, will not be timely filed.
During the performance of Ernst & Young
Hua Ming's audit for the 2011 fiscal year they noted certain
inconsistencies. As a result, management and the Audit
Committee of the Board of Directors have agreed that the Audit
Committee would immediately commence an independent investigation
into the matters identified. Although the length of the
investigation is uncertain at this time, the Company will endeavor
to file the Form 10-K as soon as possible upon the completion of
the investigation.
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. is a pharmaceutical
company dedicated to improving health through the development,
manufacture and commercialization of a broad range of prescription
and over the counter products.
Safe Harbor Statement
Statements made in this press release are forward-looking and
are made pursuant to the safe harbor provisions of the Securities
Litigation Reform Act of 1995. Such statements involve risks
and uncertainties that may cause actual results to differ
materially from those set forth in these statements. The
economic, competitive, governmental, technological and other
factors identified in the Company's filings with the Securities and
Exchange Commission, may cause actual results or events to differ
materially from those described in the forward looking statements
in this press release. The Company undertakes no obligation
to publicly update or revise any forward-looking statements,
whether because of new information, future events, or
otherwise.
Contact:
Hong Zhu
646-367-1765
SOURCE American Oriental Bioengineering, Inc.