Summary of BIOSTAR PHARMACEUTICALS, INC.

Item 4.01 Changes in Registrant's Certifying Accountant

Resignation of Mazars CPA Limited

On January 8, 2013, Biostar Pharmaceuticals, Inc. (the "Company") received a notice from Mazars CPA Limited, the Company's independent registered public accounting firm ("Mazars"), stating that Mazars tendered its resignation effective January 8, 2013. The Mazars' decision to resign as the Company's independent auditors followed the Company's inability to negotiate lower fees for Mazars' services and the Company's decision to engage another independent auditing firm. The foregoing determination by the Company was made upon approval and recommendation of the Audit Committee of the Board.

Mazars reported on the Company's financial statements for the years ended December 31, 2011 and 2010, respectively. The Mazars reports on the Company's financial statements for such fiscal periods as of December 31, 2011 and 2010, respectively, and for the fiscal years ended December 31, 2011 and 2010, respectively, did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the Company's two most recent fiscal years ended December 31, 2012 and the interim period through the effective date of Mazars' dismissal, (i) there were no disagreements with Mazars on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Mazars' satisfaction, would have caused Mazars to make reference to the subject matter of such disagreements in its reports on the Company's consolidated financial statements for such year, and
(ii) there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company has provided Mazars with a copy of the foregoing disclosures to Mazars and requested that Mazars furnish a letter to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter is filed as Exhibit 16.1 to this Current Report on Form 8-K.

Engagement of Clement C.W. Chan & Co.

On January 8, 2013, the Company engaged the services of Clement C.W. Chan & Co. ("Clement") as the Company's new independent registered public accounting firm to audit the Company's balance sheet as of December 31, 2012, and the related statements of operations and comprehensive income, stockholders' equity, and cash flows for the year then ended. Clement will also perform a review of the Company's unaudited quarterly financial information as of and for the quarters ending March 31, 2013, June 30, 2013 and September 30, 2013. The Clement engagement was reviewed, approved and recommended by the Audit Committee of the Board.

During each of the Company's two most recent fiscal years and through the date of this report, (a) the Company has not engaged Clement as either the principal accountant to audit the Company's financial statements, or as an independent accountant to audit a significant subsidiary of the Company and on whom the principal accountant is expected to express reliance in its report; and (b) the Company or someone on its behalf did not consult Clement with respect to (i) either: the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company's financial statements, or (ii) any other matter that was either the subject of a disagreement or a reportable event as set forth in Items 304(a)(1)(iv) and (v) of Regulation S-K.