March 31, 2009 (FinancialWire) -- ChinaCap Acquirco, Inc. (AMEX: TTY) (Current Market Cap: US$79.70 Mil.) said that its auditors have included a "going concern" paragraph in their report of the company's 2008 audited financial statements, a move that calls into question the company's ability to meet its obligations for another year.

New York-based ChinaCap Acquirco was formed for the purpose of acquiring an operating business that is either located in China, has its principal operations located in China, or would benefit from establishing operations in China.

The company's certificate of incorporation contains a provision requiring that it liquidate its assets if it fails to complete a business combination by November 9. Because of the potential for a mandatory liquidation, the going concern, disclosure was appropriate in the report accompanying its 2008 audited financial statements, according to ChinaCap Acquirco.

ChinaCap Acquirco's stock closed at $7.59 on March 30. It has traded between $6.60 and $7. 78 over the past 52 weeks.

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