Arch Therapeutics Inc (ARTH)

[Polyphemus]

Low funds & high burn rate due to excessive G&A/compensation expenses do not by themselves earn a going concern remark. However, in combination of 2 years of FDA premarket clearance for its AC5 product without measurable commercialization, a CEO without any prior experience at any level in an operating company, and a former director indicted for SEC fraud, the new auditor raises a legitimate red flag that cannot be glossed over. Read the 10K, don;t be guided by movements in stock price.