Plummeting Sales and Continued Losses, Debt Ratio Soars to 301%

Q1 2026 revenue of 534 million KRW slightly increased YoY (521 million), but operating loss of 80 million and net loss of 1,055 million indicate continued losses
Debt ratio jumped to 301.4% from 257.6% at end of 2025, with liabilities of 28,139 million vs equity of 9,336 million, worsening financial structure
Two lawsuits as defendant (severance claim of 1.16 billion, damage claim of 100 million) and one as plaintiff (damage claim of 3 billion) pending
Derivative liabilities of 1,155 million from convertible bonds, exposing to stock price fluctuation risk
Revenue declined sharply from 3,998 million in FY2025 to 534 million in Q1 2026

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