Audit Opinion Denial and Listing Eligibility Review… Extreme Management Uncertainty

Auditor (Hanmi Accounting Corp.) issued an 'adverse opinion' on 2025 financial statements: lack of evidence for related-party transactions and management representation letter
Listed company subject to substantive review for listing eligibility due to cumulative penalty points exceeding 15; trading suspended, pending evaluation by corporate review committee after submission of improvement plan
Consolidated operating loss of KRW 3.0 billion (vs. KRW 1.38 billion loss in prior year), revenue declined to KRW 1.45 billion (from KRW 1.59 billion)
Fair value loss on financial assets at FVTPL of KRW 1.84 billion (prior year: KRW 7.8 billion)
Full redemption of 22nd convertible bonds of KRW 1.45 billion (completed on April 13, 2026, after the reporting date)
Significant management turnover and ongoing shareholder disputes: CEO removal/appointment, multiple outside directors resigned and new ones appointed

ADVERTISEMENT (250px+)