Net loss of 16.9B, accumulated deficit of 95B, going concern uncertainty, asset sale and new business push

FY2025 consolidated revenue 2.85B, operating loss 8.38B, net loss 16.94B, accumulated deficit 95.04B. Basic EPS loss 722 won.
Going concern uncertainty exists. Mitigation plans include real estate sale (expected ~30B inflow) and perpetual convertible bond issuance (35.6B).
On Dec 31, 2025, issued 35.6B perpetual convertible bonds to (Yoo) Human Data (classified as capital surplus).
Subsequent events: borrowing 5B from related party in Jan 2026, and 3.21B paid-in capital increase via third-party allotment to (Yoo) Realitygen in Mar 2026.
Articles amended: authorized shares from 100M to 300M, CB/BW issuance limit from 100B to 400B each, business purpose expanded to include data center, AI, etc.
No dividends. Director compensation cap 1.2B, auditor compensation cap 200M.
All 5 inside directors re-elected (Kang Seong-min, Jeon Yong-beom, Yoo Se-kwon, Yoo Se-young, Park Tae-ho). Yoo Se-kwon's entity participated in CB purchase and capital increase.

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