[At a Crossroads] DYD③ No Earnings · Hastily Created Website... The Reality of Reverse Aging Holdings

Homepage Created One Day Before Management Rights Transfer Contract
Attention on Relationships with Companies Facing Delisting Crisis

Suspicion is growing over Reverse Aging Holdings, which is set to become the largest shareholder of DYD, a company listed on KOSDAQ. As a newly established corporation with no reported performance and no trace of the products it claims to have launched, concerns are mounting. Additionally, its past connections with companies facing delisting risks are exacerbating the unease.

According to the Financial Supervisory Service's electronic disclosure system on the 12th, on the 5th, DYD's current largest shareholder, Chairman Iljun Lee, signed a management rights transfer agreement with Reverse Aging Holdings. The agreement states that once Reverse Aging Holdings completes the paid-in capital increase payment by December 3, the existing management will resign, and directors recommended by Reverse Aging Holdings will be appointed.

On the same day, DYD decided on a third-party allotment capital increase worth 12 billion KRW. 7 billion KRW was allocated to Reverse Aging Holdings, and the remaining 5 billion KRW was allocated to ELF No.1 Investment Association and ELF No.2 Investment Association respectively. The largest shareholder of the ELF associations is also Reverse Aging Holdings. Once the capital increase payment is made, Reverse Aging Holdings and others will secure a total of 20,725,391 shares (20.9%), while the shareholding ratio of the existing largest shareholder, Chairman Iljun Lee, will drop to 10%.

Reverse Aging Holdings was established in January last year with a capital of 10 million KRW. Although the disclosure states it was established in January this year, it was actually created in January 2023. Its business purposes include retail sales of health supplements and e-commerce retail. As of the end of last year, both sales and net profit were zero. It is a corporation with no business activity.

According to media reports, the company's CEO, Dr. Honggil Nam, is a global pioneer in the field of aging and lifespan regulation and a trailblazer in convergent life sciences, claiming to have developed the world's first cosmetic that achieves skin rejuvenation at the cellular level.

However, the three skincare products named Senolin, Juvelin, and Everlin, which Reverse Aging Holdings claims to have developed, are not available for purchase on the company's website. These products cannot be found on any domestic online shopping malls either. There are no sales or reviews of these products on social networking services (SNS) either.

Moreover, Reverse Aging Holdings' website was identified to have been newly created on the 5th, just one day before the disclosure of the management rights transfer agreement with DYD. On the same day, the company also abruptly distributed a press release promoting Dr. Honggil Nam and the cosmetic development.

Such an unclear entity, Reverse Aging Holdings, has been appearing in the market since early this year. In March, Reverse Aging Holdings announced its participation in a 18 billion KRW paid-in capital increase of MFM Korea, aiming to become the largest shareholder through the capital increase. However, it eventually withdrew without making the payment. MFM Korea was suspended from trading in July due to accumulated penalty points.

Additionally, the former CEO and former non-executive director of Reverse Aging Holdings are identified as individuals who previously passed through RF Semi, a company currently facing delisting. RF Semi was also suspended from trading in January after receiving 20 penalty points.

Meanwhile, inquiries about Reverse Aging Holdings were made to DYD, but no response was received.