Medical International Technology Inc. Files SEC form 8-K, Non-Reliance on Previous Financials, Audits or Interim Revie
Thursday, October 29th 2009

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On October 2, 2009, the officers of Medical International Technology, Inc. (the "Company") concluded that the financial statements included in our Annual Report on Form 10-K for the years ended September 30, 2008 and 2007, and the Quarterly Reports for the periods ended December 31, 2008, March 31, 2009 and June 30, 2009, should not be relied upon because of a foreign currency translation error. At each respective balance sheet date, property and equipment, including accumulated depreciation, was translated using historical exchange rates at the date of purchase rather than the current exchange rate at each balance sheet date, as required by SFAS No. 52. The correction of the translation error will have no effect on net income (loss) as previously reported in any period.

In addition, the Company will be amending its Statement of Cash Flows for the year ended September 30, 2007 to properly present and disclose certain non-cash transactions that were previously included as cash transactions. There will be no effect on the net increase in cash for the year ended September 30, 2007 as a result of these corrections.

As the result of the currency translation error and the incorrect presentation of non-cash transactions during fiscal 2007, we are restating our financial statements included in the Annual Report on Form 10-K for the years ended September 30, 2008 and 2007, and the Quarterly Reports for the periods ended December 31, 2008, March 31, 2009, June 30, 2009 and associated disclosures.

The Company's independent audit firm, PS Stephenson & co., PC, has provided the attached letter as confirmation that they are in agreement with the Company's assertion that there is an error regarding the currency translation of property and equipment. This letter of agreement from PS Stephenson & Co., PC has been attached herewith as Exhibit 7.1.