Rehabilitation Proceedings and Delisting Risk, Severely Deteriorated Financial Structure

Rehabilitation proceedings commenced (Sep 2025) and rehabilitation plan approved (May 2026); credit rating downgraded to D (default)
KOSDAQ delisting decision (Apr 2026) followed by injunction application to suspend effect
Consolidated capital impairment: total equity –25.2B KRW, total liabilities 71.5B KRW, current liabilities exceed current assets by 44.3B KRW
Q1 2026 operating loss 1.57B KRW, net loss 2.29B KRW, sales down 53% YoY
Of cash equivalents 3.7B KRW, 4.4B KRW are restricted due to seizure/pledge
No dividend or share buyback/cancellation plans

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