IOKENM: Net profit turnaround but operating loss continues; pursuing capital reduction and rights offering for restructuring

Consolidated revenue: 0.98 billion won (74% decrease YoY); operating loss: 1.38 billion won (narrower than prior year loss of 2.14 billion)
Net profit of 5.07 billion won (swing from loss of 4.34 billion) due to 6.79 billion won valuation gain on financial assets
Cash: 6.01 billion won (up from 2.23 billion); adjusted debt ratio: 12.5% (improved from 20.4%)
Total equity: 73.79 billion won (up from 68.63 billion); deficit reduced to 135.98 billion won (from 141.07 billion)
Post-quarter: 10:1 free reduction completed (Apr 14, 2026); 240,963 share third-party allotment planned (payment May 18, 2026)
Convertible bond to DIMOA: 8.49 billion won (carrying value), secured by investment property; derivative liability of 2.19 billion won
Two lawsuits as plaintiff (2.74 billion won); no lawsuits as defendant
Two subsidiaries under liquidation; new businesses added (meat distribution, defense)
Three outside directors resigned; company pursuing public sale for normalization

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