Speaking in a statement issued to shareholders, including Iron-Bru.net, this morning Wharton re-enforced the belief that keeping the club in business was his top priority.
"The past six months has been the most difficult I would suggest in the history of the English Football League," he said.
"It is because of the extremely serious financial situation facing all league clubs that I deferred my intended retirement from the board.
"We at Scunthorpe are in a better position than many third division clubs, having raised over £350,000 from the recent rights issue of new shares.
"However our accounts for last year show another very disappointing performance."
United have had a mediocre season start, but Wharton remains hopeful that the boys on the pitch can enjoy success this season.
His stated aim is to ensure the club is financially secure for whoever follows him as chairman, he is likley to sytep down at the aGM held on November 14th at Glanford Park.