CHAD Therapeutics Inc. is not in compliance with the equity and loss guidelines of the American Stock Exchange, the company said. The Chatsworth-based developer of medical devices for the sleep market has until late August to submit a plan on coming into compliance or risk face removal from the exchange. Over the last six months, CHAD has had an average selling price of $0.32 per share of common stock and, as of July 22, the closing price of its common stock was $0.16 per share. Therefore, the exchange has deemed it appropriate for the company to effect a reverse stock split.
