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Chad Therapeutics, Inc. (CTU) Reports Going Concern Qualification


7/23/2008 11:32:05 AM

CHATSWORTH, Calif.--(BUSINESS WIRE)--CHAD Therapeutics, Inc. (AMEX:CTU) today reported that its independent registered accountants, Rose, Snyder & Jacobs, had qualified their opinion on the Company's March 31, 2008, financial statements as disclosed in the Company's Form 10-K filed with the Securities and Exchange Commission on June 27, 2008. The qualification is based on doubts about the Company's ability to continue as a going concern and the need to raise additional financing to support the launch of the products the Company is developing for the sleep disorder market, as described in Note 1 to the above-mentioned financial statements.

Read at BioSpace.com


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