DAT Technology posts Q1 2026 operating loss of KRW 2bn; going concern uncertainty and capital erosion deepen

Q1 2026 consolidated revenue KRW 1.5bn (down 41% YoY), operating loss KRW 2.0bn (vs loss of 0.8bn), net loss KRW 1.9bn (vs 1.8bn)
Current liabilities exceed current assets by KRW 34.2bn; total equity negative KRW 12.6bn (complete capital impairment)
Going concern uncertainty raised (dishonored bill, persistent operating losses, liquidity crisis)
Post-period: 30:1 reverse stock split completed (Apr 27, 2026); KRW 2.7bn third-party rights issue paid (May 7, 2026); largest shareholder changed from Oha to Jeong Chan-su
Fully provisioned illegal acts receivables of KRW 27.3bn (consolidated 29.8bn) from former CEO embezzlement; recovery uncertain
19 ongoing lawsuits with total claims ~KRW 21.3bn; large provisions for after-service (KRW 2.3bn) and litigation (KRW 4.3bn)
After delisting decision in Dec 2025, filed for injunctive relief; listing status uncertain
R&D expenses zero (vs KRW 440mn in prior quarter); new business halted; order backlog KRW 6.4bn (down from KRW 9.4bn)
No shareholder return activities (no share buybacks, dividends, etc.)