CHAD Therapeutics, Inc. (CHAD) was established to develop, produce and market respiratory care devices designed to improve the efficiency of oxygen delivery systems for both home and hospital treatment of patients who require supplemental oxygen. On November 16, 2007, the Company entered into a definitive agreement to sell to Inovo, Inc. substantially all of the assets of the Company related to the oxygen conserver business, including accounts receivable, inventory, and certain equipment and intellectual property pursuant to an Asset Purchase Agreement. On March 6, 2008, CHAD entered into an Asset Purchase Agreement (the Purchase Agreement) with Respironics, Inc., (Respironics). Pursuant to the Purchase Agreement, Respironics acquired the Company’s assets related to the transfilling oxygen business, the Total O2 Delivery System, including the OMNI-5 In-Home Filling System, OMNI-2 In-Home Filling System, Omni Fill technology and the Company’s Post Valve patent.