[Asia Economy Reporter Myung-hwan Lee] The Korea Exchange KOSDAQ Market Division announced on the 12th that ITX-AI has submitted an objection to the delisting.
ITX-AI previously disclosed on the 23rd of last month in the 'Audit Report Submission' announcement that the auditor's opinion on the 2021 fiscal year's financial statements was a 'disclaimer of opinion' due to scope limitation and uncertainty about the company's ability to continue as a going concern.
The KOSDAQ Market Division stated, "(ITX-AI) was granted an improvement period until April 14 regarding the adverse audit opinion for the 2020 fiscal year, and after the improvement period ends, it must submit related documents such as the implementation report of the improvement plan within 15 business days (by May 6)." They added, "Within 20 business days from the date of document submission, the Corporate Evaluation Committee will be held to review and decide on the delisting, and the delisting decision will be notified within 3 business days from the date of the review and resolution."
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