This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Tibet Pharmaceuticals Announces Appointment Of Sherb & Co., LLP As New Independent Auditor

Stocks in this article: TBET

SHANGRI-LA COUNTY, China, Oct. 18, 2011 /PRNewswire/ -- Tibet Pharmaceuticals, Inc. (NASDAQ: TBET), an emerging specialty pharmaceutical company engaged in the development, manufacturing and marketing of traditional Tibetan medicine in China, announced today that it has engaged Sherb & Co., LLP ("Sherb & Co.") as its new independent auditor. Sherb & Co. will commence its work immediately with the review of the Company's third quarter financial statements, which are to be included in the Company's upcoming form 10-Q.

The decision to engage Sherb & Co. as the Company's independent registered public accounting firm was approved by the Audit Committee of the Company's Board of Directors.  Formal notification detailing this action was filed in a Form 8-K with the SEC.  Sherb & Co. is an SEC audit firm based in New York City that is registered with the Public Company Accounting Oversight Board (PCAOB) and provides a range of comprehensive accounting and auditing services to public companies in a full spectrum of industries.  Sherb & Co. maintains offices in New York City; Boca Raton, Florida; as well as Beijing, China.

Mr. Hong Yu, CEO and Chairman of Tibet Pharmaceuticals stated, "After an extensive search process, we are pleased to engage Sherb & Co. as our new auditor. The firm has wide experience working with U.S.-listed Chinese companies, as well as handling SEC rules and regulations for more than 90 publicly traded enterprises.  We believe Sherb & Co. offers Tibet Pharmaceuticals and our shareholders a strong combination of high quality services and extensive experience, and we look forward to working with them in the future."

The Company did not have any disagreements with its previous auditor, Acquavella, Chiarelli, Shuster, Berkower & Co., LLP, on any matter of accounting principles or practices, financial statement disclosures or auditing scope or procedure.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,246.76 -170.09 -0.98%
S&P 500 2,008.55 -12.70 -0.63%
NASDAQ 4,664.5880 -18.8190 -0.40%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs