China-Biotics Unable to File 10-K by Due Date

From the SEC filing: China-Biotics, Inc.

was unable to timely file its Annual Report on Form 10-K for the period ended March 31, 2011 by the prescribed due date of June 14, 2011. On June 10, 2011, the Company's auditor, BDO Limited notified the Company and the Company's Audit Committee that it had identified certain serious issues as part of its ongoing audit work and would need the Company to take certain actions and provide additional information. The Company's Audit Committee is investigating the issues raised in BDO's June 10 letter, as well as other matters. The Company has been discussing these issues with BDO and is working to take all of the actions and to provide the requested information to BDO as promptly as reasonably practicable. The Company cannot predict at this time when it will be in a position to take all of the actions and provide all of the information requested by BDO. The Company intends to file the Form 10-K as soon as reasonably practicable.