Soribada "Will Lead to Resumption of Trading Soon"

[Asia Economy Reporter Jang Hyowon] Soribada (CEO Jo Hogyeon) announced the company's official position on the reason for delisting due to a disclaimer of opinion in the audit report on the 14th.

Soribada stated, "We have been granted an improvement period and will lead the resumption of trading as soon as possible," adding, "We will strengthen the substance of new businesses and management to devise ways to overcome the crisis head-on."

Soribada revealed that it faced difficulties in management and fundraising due to conflicts with Joongbu Corporation. According to Soribada, Joongbu Corporation, which became the largest shareholder in February last year, filed 18 lawsuits, which led to a decline in the company's credibility and caused friction with business partners.

They also claimed that Joongbu blocked even small-scale paid-in capital increases through lawsuits, causing difficulties in progressing new businesses and management.

A Soribada official said, "We apologize to our shareholders for the current situation of the company and will focus on stabilizing the financial situation by proceeding with a capital reduction to resolve capital erosion and a paid-in capital increase to attract new funds," adding, "We ask for shareholders' consent so that the capital reduction can proceed smoothly at the upcoming extraordinary general meeting of shareholders."

They also stated, "Since the disclaimer of opinion was not due to reasons such as embezzlement or breach of trust but because we failed to submit requested materials related to overseas affiliates demanded by the auditor in a timely manner, we will complete the resumption of trading through an objection as soon as possible."

This content was produced with the assistance of AI translation services.