Cellfie Global: Persisting Operating Loss of 1.83B Won in Q1 2026, Delisting and Litigation Risks

Consolidated revenue of 8.78B won, operating loss of 1.83B won, net loss of 1.92B won in Q1 2026 (vs net loss of 2.03B won in Q1 2025).
Accumulated deficit of 21.23B won, current liabilities exceed current assets by 2.49B won (going concern uncertainty).
Credit rating improved slightly to B- (2025) from CCC (2024), but still very low.
Ongoing management control dispute and multiple lawsuits (total claim amount approx. 14.8B won).
Court ruling in Feb 2026 nullified new share issuance (7,652,119 shares); Trust Investment Union shares excluded.
KOSDAQ delisting decision, currently stayed by court injunction; lawsuit filed against delisting.
Former management prosecuted for embezzlement/breach of trust; illegal claims receivable of 7.73B won (fully impaired).
No share buyback, cancellation, or dividend plans.