China Cablecom Holdings, Ltd., a BVI-registered and China-based cable network operator, made an announcement that the audit report of its independent accounting firm, UHY Advisors Inc., included in the BVI company’s Annual Report filed with the Securities and Exchange Commission on July 15, 2009, contained a going concern qualification. The issues of the audit report were the consolidated financial statements for the fiscal years 2008 and 2007, the related consolidated statements of operations and comprehensive loss, changes in stockholders’ equity and cash flows for 2008 and 2007.
China Cablecom announced going concern qualification in compliance with Nasdaq rules which require public disclosure of the receipt of an audit opinion containing a going concern qualification.
The announcement of the BVI company does not change or amend its financial statements for the year 2008.
This announcement does not represent any change or amendment to the company’s financial statements for the year ended December 31, 2008.