Coretec Group Inc (CRTG)

[Juststoppingby]

After reading all this about these allegations of embezzlement and breach of trust, I believe the company (KIB Plug Energy) wasn't necessarily doing anything illegal other than some of the management and directors possibly doing some personal shady stuff.

The court banned the KIB Plug Energy CEO from doing CEO duties earlier this month.

“2. Until the final judgment in the creditor's lawsuit for the removal of directors of KIB Plug Energy Co., Ltd., the debtor Heo Sung-ho shall not perform the duties of the CEO and director of the above company, the debtor Son Kyo-deok and Cho Han-wook shall perform the duties of the above company's outside directors, and the debtor Choi so-hyun shall not perform the duties of other non-executive directors.”
https://investorshub.advfn.com/uimage/uploads/2024/11/30/xitwmScreenshot_30-11-2024_191614_dart.fss.or.kr.jpeg
From Dart filings: https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20241126800602

The plaintiff has not been accused of anything illegal, and if he witnessed embezzlement, he did the right thing by filing charges.

This was public before Coretec acquired a stake in KIB Plug Energy.

Once the new management and directors take charge on December 13, 2024, KIB Plug Energy should experience a positive change, and trading should be reinstated. I don't see this as necessarily damaging to KIB Plug Energy customers.