BIOSTAR PHARMACEUTICALS, INC. Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements

Show all filings for BIOSTAR PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for BIOSTAR PHARMACEUTICALS, INC. 13-Nov-2009Results of Operations and Financial Condition, Financial Statements Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All inform...
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Biostar Pharmaceuticals, Inc. Announces Record Third Quarter 2009 Financial Results

XIANYANG, China, Nov. 12 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM - News; "Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced financial results the third quarter ended September 30, 2009. SUMMARY FINANCIALS Third Quarter 2009 Results Q3 2009 Q3 2008 CHANGE Net Sales $15.6 million $7.5 million +106.3% Gross Profit $12.0 million $3.8 million +216.3% Net Income $3.1 million $0.6 million +459.2% EPS (Fully Diluted) $0.13 $0.02 +550.0% Nine Month 2009 Results First 9M 2009 First 9M 2008 CHANGE Net Sales $36.2 million $23.8 million +52.5% Gross Profit $26.5 million $13.3 million +98.5% Net Income $8.8 million $4.1 million +112.9% EPS (Fully Diluted) $0.37 $0.18 +105.6% Third Quarter 2009 Financial ResultsRevenue for the third quarter of 2009 increased 106.3% to approximately $15.6 million compared to $7.5 million for the third quarter of 2008. The increase in revenue was primarily due to Biostar's flagship product, Xin Aoxing Oleanolic Acid Capsule ("Xin Aoxing") which accounted for...
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BIOSTAR PHARMACEUTICALS, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion should be read in conjunction with our financial statements and the notes thereto which appear elsewhere in this report. The results shown herein are not necessarily indicative of the results to be expected in any future periods. This discussion contains forward-looking statements based on current expectations, which involve uncertainties. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "predict," "potential," "continue," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," or the negative of these terms or other comparable terminology. All forward-looking statements included in this document are based on information available to the management on the date hereof and we do not undertake any obligation to update any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. Actual results and the timing of events could differ materially from the forward-looking statements as a result of a number of factors. Readers should also carefully review factors set forth in other reports or documents that we file from time to time with the Securities and Exchange Commission. OVERVIEW Biostar Pharmaceuticals, Inc. ("We", the "Company" or "Biostar") was incorporated on March 27, 2007, under the laws of the State of Maryland. Our business operation in China is conducted primarily through wholly-owned subsidiary, Shaanxi Biostar Biotech Ltd., and our variable interest entity ("VIE"), Shaanxi Aoxing Pharmaceutical Co., Ltd ("Aoxing Pharmaceutical"). Aoxing Pharmaceutical currently has five state appro...
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BIOSTAR PHARMACEUTICALS, INC. Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Show all filings for BIOSTAR PHARMACEUTICALS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for BIOSTAR PHARMACEUTICALS, INC. 9-Nov-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is...
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Biostar Pharmaceuticals, Inc. to Host Fiscal Year 2009 Third Quarter Earnings Conference Call on Thursday, November 12, 2009 at 9:30 a.m. ET

XIANYANG, China, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM - News; "Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that management will hold a conference call to discuss its 2009 third quarter performance at 9:30 a.m. ET on Thursday, November 12, 2009. Financial results will be released on November 11, 2009 after the market closes. Interested parties may access the call by dialing +1-888-549-7704 from within the United States, or +1-480-629-9857 if calling internationally. The conference ID is 4182017. It is advisable to dial in approximately 5-10 minutes prior to the start of the call.This call is being web cast by ViaVid Broadcasting and can be accessed at ViaVid's website at http://www.viavid.net or at the following link: http://viavid.net/dce.aspx?sid=00006CE5 . To access the web cast, you will need to have the Windows Media Player on your desktop. For the free download of the Media Player please vi...
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Biostar Pharmaceuticals Announces Closing of a $3.6 Million Equity Financing

XIANYANG, China, Nov. 6 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM - News; "Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that it has closed a private placement of approximately $3.6 million worth of securities with certain accredited investors on Monday, November 2, 2009. Investors received 2,060,000 shares of Series B convertible preferred stock, which convert on a 1 to 1 basis into Biostar common shares with attached warrants to purchase a total of 500,000 shares of the Company's common stock. The warrants are exercisable for a period of five years from the date of issuance at an exercise price of $3.00 and include a call provision. Biostar will use the net proceeds for the completion of the Company's new raw materials processing facility, which will help ensure product quality while reducing production costs for its pharmaceutical and nutrient Products. The Company plans to sell a portion of the processed raw materials to other pharmaceutical companies in the Shaanxi province, and increase its advertising budget in two municipalities, so as to increase its sales there. After completing this transaction, Biostar has approximately 26.1 million shares outstanding on a diluted basis."After evaluating several financing options to complete our raw materials processing facility, we feel confident that this option was best...
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Biostar Pharmaceuticals, Inc. to Present at the Brean Murray, Carret & Co. China Growth Conference

XIANYANG, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM - News; "Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that it will present at the Brean Murray, Carret & Co. China Growth Conference, to be held November 19-20, 2009, at the Millennium Broadway Hotel, 150 West 45th Street, New York City. Mr. Ronghua Wang, Chief Executive Officer and Ms. Elaine Zhao, Chief Financial Officer, are scheduled to present at 11:20 am ET on Thursday November 19 and are available to host one-on-one meetings with conference attendees throughout the one-day event. Mr. Wang and Ms. Zhao will discuss the Company's products including Biostar's leading hepatitis B medicine, Xin Aoxing, the Company's expansion into rural networks in China, financial results, and the Company's long-term growth strategies.Registration is mandatory. For more information on the conference, contact your Brean Murray, Carret & Co. representative. To register please visit or contact Lindsay Zuckerman at 212-702-6577 or via email at Lindsay.Zuckerman@bmur.com.About Biostar Pharmaceuticals, Inc.Biostar Pharmaceuticals, Inc., through its wholly-owned subsidiary in China, develop...
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BIOSTAR PHARMACEUTICALS, INC. Files SEC form 8-K, Unregistered Sale of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. Securities Purchase Agreement On November 2, 2009 (the "Closing Date"), Biostar Pharmaceuticals, Inc. (the "Company") entered into and closed on a securities purchase agreement (the "Purchase Agreement") with certain accredited investors (the "Investors") pursuant to which the Investors purchased 2,060,000 shares of our series B convertible preferred stock ("Series B Preferred Stock") with attached warrants to purchase a total of 500,000 shares of our common stock (the "Warrants") for an aggregate purchase price of $3,605,000 (the "Purchase Price"). The Series B Preferred Stock is convertible into 2,060,000 shares of our common stock. The Series B Preferred Stock does not pay annual dividends and shall not have any voting rights except as required by law. The Warrants are exercisable for a period of five years from the date of issuance at an initial exercise price of $3.00. The Investors may exercise the Warrants on a cashless basis if the shares of common stock underlying the Warrants are not then registered pursuant to an effective registration statement. In the event the Investors exercise the Warrants on a cashless basis, then we will not receive any proceeds. The Company shall have the right at any time, on at least forty-five (45) day written notice, to redeem the outstanding Warrants at a price of one cent ($.01) per share provided the market price of the Company's Common Stock shall equal or exceed $4.50 on each trading day for the consecutive twenty (20) trading days in the period ending on the trading day prior to the date that the Company intends to redeem the Warrants. The Series B Preferred Stock and the Warrants are collectively referred to herein as the "Securities". The Series B Preferred Stock is subject to full ratchet and anti-dilution adjustment for subsequent lower price issuances by the Company and both the ...
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Biostar Pharmaceuticals, Inc. Significantly Increases Rural Supply Network to 3,500 Sales Outlets

XIANYANG, China, Nov. 3 /PRNewswire-Asia-FirstCall/ -- Biostar Pharmaceuticals, Inc. (OTC Bulletin Board: BSPM - News; "Biostar" or "the Company"), a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, today announced that it has expanded its rural supply network to 3,512 sales outlets as of September 30, 2009. These locations have contributed approximately $7.4 million in revenues year-to-date. The company anticipates meeting its goal of launching 5,000 rural sales outlets by the end of 2009 and plans to expand the network to include 10,000 outlets by 2011 throughout 6 provinces including Shaanxi, Gansu, Henan, Hebei, Liaoning, and Shandong. A sales outlet is a small pharmacy with an average of 600 square feet in a rural village, which supplies residents with the most commonly used drugs. Biostar provides free training to the staff of the sales outlets and currently supplies 5 drugs to each location, including Danshen Granules, a drug which addresses coronary heart disease, myocardditis and angina pectoris and is listed in the Essential Drug List. Average annual revenue generated from each sales outlet is approximately $2,000. The Company's goal is to build the largest regional pharmaceutical supply network in its targeted rural areas and provide patients with the most efficient and affordable comprehensive pharmaceutical services."We are pleased to announce the progress we have made with our rural supply network wh...
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