Coretec Group Inc (CRTG)

[Testpilot]

“ DKME Taskforce Team

[e-mail]


Open Letter (June 28, 2025) | Updates Posted Daily?

Cooperation to Preserve DKME’s Listing, Legitimacy of the
Acquisition Process, and Protection of Shareholder Rights

(July 2025)

Dear Fellow Shareholders,

First and foremost, we extend our sincere gratitude to all shareholders. Because opportunities to meet you in person have been limited, we are using this letter to share a transparent update on the ongoing major-shareholder eligibility review with the Korea Exchange (KRX) and to outline our corresponding response plans.

Situation Overview & Background
DKME has recently faced a significant threat to its long-term viability and shareholder value due to the dishonest and unlawful conduct of certain members of management. These individuals have deliberately distorted the legitimate investment objectives of our majority shareholder, Quantum Wealth Management LLC (“QWM”), filed unfounded materials with KRX, and colluded with third-party acquirers to manufacture an entirely baseless “major-shareholder eligibility” controversy.

Incredibly, they even spread the patently false rumour that DKME itself—despite being the party that would suffer the greatest harm—was actively pursuing its own delisting, prompting KRX to initiate a substantive delisting review and dramatically increasing potential losses for both the Company and its shareholders.

They have prepared the “improvement plan” unilaterally, bypassing the Board-approval process, and are now attempting to submit the final documents on their own authority. Further evidence indicates an effort to sell the Company to an unverified third party for private gain. Such conduct represents a grave breach of directors’ duty of loyalty under the Korean Commercial Act and a direct violation of the Capital Markets Act’s prohibitions on unfair trading, amounting to serious self-dealing that threatens to inflict substantial harm on DKME shareholders’ assets.

DKME and QWM will neither tolerate nor overlook these abuses. We will pursue all available legal remedies—criminal complaints and civil actions for damages—to hold the responsible parties fully accountable. We will also convene a shareholders’ meeting, move to dismiss the offending directors, seek injunctive relief where necessary, and furnish KRX and the Financial Supervisory Service with additional evidence demonstrating that no grounds for delisting exist. In coordination with all stakeholders, we will retain leading external legal and accounting advisers to overhaul internal controls and enhance transparency so that the Company can be stabilized and shareholder value preserved.

Investment Structure & Major-Shareholder Review History
Initial Indirect Exposure: In late 2024, QWM invested in Series D preferred shares of The Coretec Group Inc.(“CRTG”), thereby gaining indirect exposure to what was then KIB Plug Energy—now DKME Co., Ltd.
KRX Scrutiny: Early 2025, during its major-shareholder review, KRX questioned QWM’s eligibility based on CRTG’s delayed SEC filings, an issue unrelated to DKME.
Exchange Option Exercised: QWM exchanged all CRTG preferred shares for 52,862,216 DKME common shares, surrendering dividend and liquidation preferences to become DKME’s direct common-shareholder of record (22.3 % stake). QWM then formed DKME Inc. (Delaware) and contributed the entire stake—US $21.75 million—into that entity, even offering a three-year lock-up.
Capital Provenance: DKME Inc. is wholly owned by AOSSF I Fund, managed by QWM. Full banking records from U.S. and Korean institutions have been supplied to KRX.
LP Confidentiality: Certain parties demand public disclosure of all Fund LPs—an action prohibited under U.S. law (Investment Company Act §§ 3(c)(1), 3(c)(7); Delaware RULPA § 17-305). DKME Inc. and QWM will not violate U.S. statutes or investor-confidentiality covenants; a U.S. legal opinion can be produced immediately if required.
Should the executives responsible for the above disparagement and malicious distortion voluntarily resign and, in collaboration with external advisors, be replaced by a new management team capable of clearly presenting the majority-shareholder’s fair position to both the Korea Exchange and our shareholders—and accurately conveying our intentions—then, in full respect of South Korea’s regulatory framework and market sentiment, we will explore every option, including withdrawal of our investment or change of majority shareholder, to effectively support the preservation of DKME Co., Ltd.’s listing. Furthermore, we hereby confirm our readiness to promptly conclude negotiations in a form acceptable to the KRX.

That said, any withdrawal must ensure the full reimbursement of our invested capital and uphold all statutory rights afforded to us as the current majority shareholder under applicable corporate law.

1. Review History
Repeated, Biased Inquiries: Since May 2025, KRX has repeatedly requested explanations based on rumors, ignoring documents already provided.
Good-Faith Responses: We have submitted five formal replies demonstrating procedural legitimacy and financial transparency.
Lingering Uncertainty: Unofficial materials circulated by certain stakeholders have prolonged the review and fueled market speculation.
2. Our Position
Legitimacy of the Acquisition: The transaction complies fully with U.S. and Korean corporate and securities laws; all requisite filings have been made.
Protection of Shareholder Rights: Unsubstantiated allegations that threaten delisting severely damage shareholder interests.
Commitment to Transparency: All official communications and documents will be disclosed to shareholders to minimize uncertainty.
3. Response Strategy
Comprehensive Disclosure: We will provide shareholders with the entire correspondence exchanged with KRX—including letters, minutes, and inquiries.
Robust Legal Support: Leading international and domestic law firms have been engaged to counter baseless claims.
Enhanced Shareholder Communication: Regular online briefings and updated FAQs will keep investors informed in real time.
Contingency Planning: Should uncertainty persist, we are prepared to consider capital-structure adjustments or voluntary restructuring measures to safeguard the listing.
4. Demand for Immediate Cessation of Misconduct
We demand that the implicated managers cease all efforts to disparage the majority shareholder’s eligibility and to steer the Company toward delisting. Any further infringement upon shareholder rights will result in full legal and corporate action, and all Board resolutions—including minutes—will be made public to ensure accountability.

DKME remains steadfast in defending shareholder value through strict adherence to law and principle. No biased assessment or unfounded rumor will deter us from preserving our listing and maximizing enterprise value. We will continue to share every development promptly and accurately. For questions or comments, please contact the Compliance Team at [e-mail]—all materials will be made available upon request.

Thank you for your continued trust and support.

DKME Taskforce Team

[e-mail]”