New Risk • Aug 14
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₩23b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-₩23b). Market cap is less than US$10m (₩4.00b market cap, or US$2.82m). Board Change • Aug 14
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jun 03
Syswork Co., Ltd announced that it has received KRW 10 billion in funding from Zebra Investment Management Co., Ltd., YR Invest Co., Ltd and another investor Syswork Co., Ltd (KOSDAQ:A269620) announced a private placement of 6th Unregistered Coupon Nonguaranteed Private Placement Convertible Bond for gross proceeds of KRW 10,000,000,000 on June 2, 2021. The transaction will involve participation from new investors, including Zebra Investment Management Co., Ltd. for KRW 6,000,000,000, YR Invest Co., Ltd for KRW 1,000,000,000, Rudiska Fund for KRW 3,000,000,000. The bonds will be fully convertible into 4,975,124 common shares of the company at a fixed conversion price of KRW 2,010 per share between June 2, 2022 and May 2, 2024. The bonds will mature on June 02, 2024. The bond issuance method is mother-in-law. The payment date of the transaction is June 2, 2021. The transaction has been approved by the board of directors of the company.