U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
|_| Form 10-K and Form 10-KSB |_| Form 20-F |_| Form 11-K |X| Form 10-Q and Form
10-QSB |_| Form N-SAR
For Period Ended: March 31, 2006
|_| Transition Report on Form 10-K
|_| Transition Report on Form 20-F
|_| Transition Report on Form 11-K
|_| Transition Report on Form 10-Q
|_| Transition Report on Form N-SAR
For the Transition Period Ended: ______________
Read Attached Instruction Sheet Before Preparing form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
Part I - Registrant Information
Full Name of Registrant: China Medicine Corporation
Former Name if Applicable: Lounsberry Holdings III, Inc.
Address of Principal Executive Office: 51 Everett Drive; Suite A-20,
West Windsor Professional Center,
City, State and Zip Code: Princeton Junction, NJ 08550
Part II - Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate.)
|X| (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
|X| (b) The subject annual report, semi-annual report, transition report on Form
10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or
before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following the prescribed due
date; and
|_|(c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
Part III - Narrative
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
(Attach Extra Sheets if Needed)
The registrant is in the process of preparing and reviewing the financial
information of the Company. The process of compiling and disseminating the
information required to be included in the Form 10-QSB for the relevant fiscal
quarter, as well as the completion of the required review of the Company's
financial information, could not be completed without incurring undue hardship
and expense. The registrant undertakes the responsibility to file such quarterly
report no later than five days after its original date.
Part IV - Other Information
1. Name and telephone number of person to contact in regard to this
notification:
Meiyi Xia 609-799-1889
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(Name) (Area Code) (Telephone Number)
2. Have all other periodic reports required under section 13 or 15(d) of the
Securities Exchange Act of 1934 or section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed. If the answer is no,
Identify report(s). |X| Yes |_| No
3. Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
|X| Yes |_| No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.
Revenues for the quarter ended March 31, 2006 were $3,511,979, an increase of
$783,393, or 29%, from the revenue of $2,728,586 for the comparable period in
2005. Net Income for the quarter ended March 31, 2006 was $256,557, a decrease
of $969,962 or 79.1%, from the net income of $1,226,519 for the comparable
period in 2005. Results of operations for the three months ended March 31, 2006
remain subject to further adjustment and actual results may differ significantly
from the foregoing estimates.
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China Medicine Corporation
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: May 15, 2006 By: /s/ Meiyi Xia
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Meiyi Xia
Vice President
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.