HARBIN, China--(BUSINESS WIRE)--China Kangtai Cactus Biotech Inc. (“China Kangtai”) (OTCBB: CKGT), a vertically integrated grower, developer, manufacturer and marketer of a variety of cactus-based products in China, said the company and its auditors need more time to prepare and review its annual report on Form 10-K, which was originally due on April 2, 2012. The additional time will allow the company and its auditors the required time to complete their review of certain accounting matters relating to the company's financial statements.
China Kangtai CEO Jinjiang Wang said, “We made a commitment to keep our investors informed. Our company works diligently to remain in compliance with the regulations of the Securities and Exchange Commission and to maintain communications with investors. We regret the situation that we need more time to complete the report. We and our auditors are working diligently to resolve these matters so that we can file our Form 10-K for 2011.”
About China Kangtai Cactus Biotech, Inc.
China Kangtai Cactus Biotech, Inc. is a leading grower, developer, producer, and marketer of cactus-derived products, including nutraceuticals, health and energy drinks, wine, extracts and powders, cigarettes and animal feed. China Kangtai controls over 387 acres of plants and maintains an active R&D group that holds 18 product patents and is seeking another 12. China Kangtai's high-quality “green” products are sold throughout China via a distribution network that covers 12 of China's 23 provinces and two of China's four municipalities. More information may be found at http://www.biocactus.com or via e-mail: chinakangtai@gmail.com.
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This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product demand and acceptance, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.