Coretec Group Inc (QB) (CRTG) News

They are moving quickly to effect changes in Kib. iI will be interesting to see where this all goes but for now we need to see Coretecs 10 Q and get a comprehensive update from management . That should be forthcoming . With nothing else to look at for now at least weve come upon all of these developments with Kib and Coretec to give us something to do . Im really looking forward as well to here from Ramez Elgammal and get updated on the silicon anode and any other company details on just what they are doing an all areas of this new company dealing.

Is this now what CRTG is becoming. I don't try to keep up with the twists and turns this has taken, but I still believe it's up to CRTG to give us quarterly earnings, and they should hold an Annual Meeting when the time is appropriate.

Thanks to all of you who watch this carefully, while I do have a tax loss, I doubt if I'll sell as I still think the long term possibilities are great, but we need to hear what's going on from the company.

Happy Thanksgiving,

Gary

A shareholder meeting was scheduled for February 5th, 2025, but changed to December 13th, 2024.

Image 1:
https://investorshub.advfn.com/uimage/uploads/2024/11/28/m[lpjScreenshot-1_28-11-2024_104749_dart.fss.or.kr.jpeg
Image 2:
https://investorshub.advfn.com/uimage/uploads/2024/11/28/lprmwScreenshot-2_28-11-2024_104925_dart.fss.or.kr.jpeg
Image 3:
https://investorshub.advfn.com/uimage/uploads/2024/11/28/xzgtcScreenshot-3_28-11-2024_105020_dart.fss.or.kr.jpeg

More overview of the current events taking place at Kib involving 3 CRTG people

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yusley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continue to contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.


[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the enhancement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight based on his abundant knowledge.

Confirmation

Image: Confirmation of Candidate Kim Seon-gi
Confirmation of Candidate Kim Seon-gi

Image: Confirmation of Candidate Albert Michael Yusley
Confirmation of Candidate Albert Michael Yusley
Send feedback

Bumhan is named in the filing . Kib is their parent company according to pitchbook http://www.bhm.kr/main/#HOME website link. So a parent company as i understand it is a company that as a controlling interest in another company . Ill have to look into the ties between Bumhan and Kib. Maybe pitchbook is up to date maybe not ??

8 09.03 Conclusion of Bumhan Motors equity adjustment and loan settlement agreement Aye Aye - https://pitchbook.com/profiles/company/534624-49#overview

As you can see the names didnt translate correctly i these filings but 3 of the 4 are from Coretec
Agenda Item 1: Appointment of Directors (4 persons)

- Agenda Item 1-1: Appointment of Inside Director Kim Seon-gi (new appointment) Coretecs board member Dr Seon Kee Kim

- Agenda Item 1-2: Appointment of Inside Director Albert Michael Yusley (new appointment) Coretecs CEO

- Agenda Item 1-3: Appointment of Inside Director Lee Jeong-min (new appointment) Coretec board and COO

- Agenda Item 1-4: Appointment of Outside Director Yoo Young-sun (new appointment)

MORE Kib filing today ( LAST ONES THAT ARE RELEVANT )
NOTE : EPC stands for Engineering, Procurement, and Construction, and it's a contract-based model used in the oil and gas industry to manage the design, procurement, and construction of projects. EPC firms are responsible for the entire project, from exploration to refining and distribution. They provide a single point of contact for the client, which can help reduce risk and streamline the project.
EPC firms are critical to the development of oil and gas infrastructure, and they're often used for large-scale projects that require specialized knowledge and project management. EPC services are used to construct pipelines, refineries, processing plants, and offshore platforms.
Some of the top EPC contractors include:
Petrofac, Larsen & Toubro, SNC-Lavalin, Wood, McDermott, Saipem, NPCC, and WorleyParsons.
The global oil and gas EPC market is expected to reach $64.7 billion by 2027.

Start of the filing ( I gave a definition of EPC because its an important matter in this filing in relation to KIBs business )
III. Management Notes

1. Business Overview

A. Current Status of the Industry

Our company consists of a chemical equipment division that mainly produces heat exchangers.

(1) Characteristics of the Industry

The chemical equipment manufacturing industry is a type of PLANT (refinery, chemical) equipment industry and is closely related to facility investments in the domestic and international petrochemical industries. In the case of the plant industry, it is led by large EPC (Engineering Procurement Construction) companies, and chemical equipment is generally ordered through leading domestic and international engineering companies, and products are manufactured through a custom design for each project. Therefore, in order to ensure smooth project progress, the ordering party prefers a manufacturer with existing transaction history, and since the design of equipment for each project is different, there are limited companies that can carry out business in accordance with customer requirements.

(2) Industry Growth Potential

In the mid- to long-term, demand for energy and petrochemical products is expected to steadily increase due to global GDP growth and population expansion. In particular, oil-producing countries that depend on crude oil exports and have been suffering from growing deficits due to refining and chemically processed finished products are expanding their investments to establish direct processing facilities to secure higher profits and national competitiveness. Accordingly, major countries in the Middle East/Asia/North America are expected to expand investments in new chemical facilities and green hydrogen/green ammonia plants to respond to environmental regulations.

(3) Characteristics of economic fluctuations

The petrochemical industry is closely related to international oil prices, oil consumption/production, and investment plans of major crude oil and gas resource-holding countries, and is also affected by the flow of the petrochemical industry, which has a cyclical nature. In addition, it is closely related to the international situation and the balance of energy demand and supply.

(4) Competitive Factors
Due to the nature of the industry based on steel welding, the industry leadership is shifting similarly to the shipbuilding industry. The industry that started in the United States, then moved to Japan and then to Korea, and recently, competitors from China and India, who are emphasizing low labor costs for basic equipment for general steel grades, are emerging.
However, based on our manufacturing experience through technical partnerships with leading licensors for the production of various products, our company has secured high recognition from domestic and foreign customers based on our own development of special equipment, quality improvement and technological advancement, and unconditional compliance with delivery dates, and we are dedicated to discovering new customers and conducting sales activities for existing customers to secure stable sales.

B. Company Status

(1) Business Overview and Business Division

(a) Business Overview

In the case of our chemical equipment division, due to the impact of COVID-19, which has spread worldwide, the stagnant consumer activity has entered a recovery phase and oil prices have recovered to pre-COVID-19 levels, but the business environment has been limited due to the suspension of petrochemical and LNG projects in the CIS region and the withdrawal of business due to the Ukraine/Russia War.

However, investment in petrochemical plants and oil production facilities led by oil-producing countries and investment in large-scale LNG plants due to the LNG supply imbalance caused by the Ukraine/Russia War are becoming active. In addition, due to the nature of the industry, VENDOR registration for end customers and experience in performing similar construction are important factors in selecting a manufacturer, and our company has an advantage over competitors in these requirements, and based on this, we are actively conducting sales activities to win orders.

In addition to recently winning orders through EPC, we are also gradually expanding sales activities to win orders directly from end users in each country.

(Me) Classification of business sectors subject to disclosure

The company has indicated (1) as the chemical equipment sector that manufactures heat exchangers, etc. as written in the business overview

(2) Market share

In the case of the petrochemical plant sector (chemical equipment sector), it focuses on overseas markets, and the company's market share is a business linked to the overall plant facilities, so the scale is so vast and statistical data is insufficient that it is difficult to express it in arithmetic, making it impossible to make reasonable statistics, but the company estimates that it maintains a top ranking in Korea. In addition, the company has a solid position in the overseas market through approximately 40 years of business experience and external credibility, and is continuously establishing and promoting an order acquisition strategy through dense communication with existing business partners and discovering new business partners, thereby securing stable business partners as well as securing competitiveness and differentiating efforts from other companies to expand orders in overseas markets.

(3) Organizational chart

Image: Organizational chart
Organizational chart

2. Items to be described by purpose of the general shareholders' meeting

? Election of directors

A. Candidate's name, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate's name Date of birth Outside director
Whether a candidate

Audit committee member

Whether directors are elected separately

Relationship with largest shareholder Recommender
Kim Seon-gi 60.07.22 Vice N/A N/A Board of Directors
Elbert Michael Yusley 50.01.20 Vice N/A N/A Board of Directors
Lee Jeong-min 72.04.09 Vice N/A N/A Board of Directors
Yoo Yeong-seon 60.05.20 Female N/A N/A Board of Directors
Total (4)

B. Candidate's main occupation, detailed career, transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Kim Seon-gi The Coretec Group Inc. Chairman 2024 ~ Present
2023 ~ Present
2020 ~ 2023
2019 ~ 2019 The Coretec Group Inc. Chairman
Zaicell Inc. CEO
President, Feast Global Inc.
Vice Chairman, I-Map Asset Management Co., Ltd. Not applicable
Elbert Michael Usley The Coretec Group Inc. CEO 2024 ~ Present
2009 ~ Present
2010 ~ 2020 The Coretec Group Inc. CEO
Chairman, CalErin Group
International Relations Advisor, San Leon Energy Not applicable
Jeongmin Lee The Coretec Group Inc.
General Manager, Accounting, Human Resources, Organization Management Support 2024 ~ Present

2009 ~ 2024 The Coretec Group Inc. Accounting, Human Resources, Organization Management Support
MI Links Vice President None
Yoo Young-sun CFO Vice President, Hapcheon Food Co., Ltd. 2023 ~ Present
2020 ~ 2023
2018 ~ 2019
2009 ~ 2015 CFO Vice President, Hapcheon Food Co., Ltd.
Samtech Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank General Manager, Finance None

D. Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law

Candidate Name Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law
Kim Seon-gi None None None None
Elbert Michael Yusley None None None None
Lee Jeong-min None None None None
Yoo Young-sun None None None None

D. Candidate's Job Performance Plan (Limited to the case of appointment as an outside director)

[Candidate Yoo Young-sun]

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care and loyalty, duty of reporting, duty of monitoring, duty of mutual business execution monitoring, duty of non-competition, duty of non-self-dealing, and duty of compliance with corporate secrets, and will strictly comply with them.

2. Based on his diverse experience, he will enhance the diversity of the board of directors and perform his independent duties as an outside director by presenting professional opinions and expressing his opinions in the committees within the board of directors, and while representing the interests of shareholders and society, he will resolve major management issues for the long-term growth of the company and maximizing corporate value.

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yousley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continuously contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.

[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the improvement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight through his abundant knowledge, and has been recommended as a candidate.

Confirmation

Image: Confirmation Certificate Candidate Kim Seon-gi
Confirmation Certificate Candidate Kim Seon-gi

Image: Confirmation Certificate Albert Michael Yousley Hugo
Confirmation Certificate Albert Michael Yousley Hugo

Image: Confirmation Certificate Candidate Yoo Yeong-seon
Confirmation Certificate Candidate Yoo Yeong-seon

Image: Confirmation Certificate Candidate Lee Jeong-min
Confirmation Certificate Candidate Lee Jeong-min

Next filing for KIB
III. Management Notes

1. Business Overview

A. Current Status of the Industry

Our company consists of a chemical equipment division that mainly produces heat exchangers.

(1) Characteristics of the Industry

The chemical equipment manufacturing industry is a type of PLANT (refinery, chemical) equipment industry and is closely related to facility investments in the domestic and international petrochemical industries. In the case of the plant industry, it is led by large EPC (Engineering Procurement Construction) companies, and chemical equipment is generally ordered through leading domestic and international engineering companies, and products are manufactured through a custom design for each project. Therefore, in order to ensure smooth project progress, the ordering party prefers a manufacturer with existing transaction history, and since the design of equipment for each project is different, there are limited companies that can carry out business in accordance with customer requirements.

(2) Industry Growth Potential

In the mid- to long-term, demand for energy and petrochemical products is expected to steadily increase due to global GDP growth and population expansion. In particular, oil-producing countries that depend on crude oil exports and have been suffering from growing deficits due to refining and chemically processed finished products are expanding their investments to establish direct processing facilities to secure higher profits and national competitiveness. Accordingly, major countries in the Middle East/Asia/North America are expected to expand investments in new chemical facilities and green hydrogen/green ammonia plants to respond to environmental regulations.

(3) Characteristics of economic fluctuations

The petrochemical industry is closely related to international oil prices, oil consumption/production, and investment plans of major crude oil and gas resource-holding countries, and is also affected by the flow of the petrochemical industry, which has a cyclical nature. In addition, it is closely related to the international situation and the balance of energy demand and supply.

(4) Competitive Factors
Due to the nature of the industry based on steel welding, the industry leadership is shifting similarly to the shipbuilding industry. The industry that started in the United States, then moved to Japan and then to Korea, and recently, competitors from China and India, who are emphasizing low labor costs for basic equipment for general steel grades, are emerging.
However, based on our manufacturing experience through technical partnerships with leading licensors for the production of various products, our company has secured high recognition from domestic and foreign customers based on our own development of special equipment, quality improvement and technological advancement, and unconditional compliance with delivery dates, and we are dedicated to discovering new customers and conducting sales activities for existing customers to secure stable sales.

B. Company Status

(1) Business Overview and Business Division

(a) Business Overview

In the case of our chemical equipment division, due to the impact of COVID-19, which has spread worldwide, the stagnant consumer activity has entered a recovery phase and oil prices have recovered to pre-COVID-19 levels, but the business environment has been limited due to the suspension of petrochemical and LNG projects in the CIS region and the withdrawal of business due to the Ukraine/Russia War.

However, investment in petrochemical plants and oil production facilities led by oil-producing countries and investment in large-scale LNG plants due to the LNG supply imbalance caused by the Ukraine/Russia War are becoming active. In addition, due to the nature of the industry, VENDOR registration for end customers and experience in performing similar construction are important factors in selecting a manufacturer, and our company has an advantage over competitors in these requirements, and based on this, we are actively conducting sales activities to win orders.

In addition to recently winning orders through EPC, we are also gradually expanding sales activities to win orders directly from end users in each country.

(Me) Classification of business sectors subject to disclosure

The company has indicated (1) as the chemical equipment sector that manufactures heat exchangers, etc. as written in the business overview

(2) Market share

In the case of the petrochemical plant sector (chemical equipment sector), it focuses on overseas markets, and the company's market share is a business linked to the overall plant facilities, so the scale is so vast and statistical data is insufficient that it is difficult to express it in arithmetic, making it impossible to make reasonable statistics, but the company estimates that it maintains a top ranking in Korea. In addition, the company has a solid position in the overseas market through approximately 40 years of business experience and external credibility, and is continuously establishing and promoting an order acquisition strategy through dense communication with existing business partners and discovering new business partners, thereby securing stable business partners as well as securing competitiveness and differentiating efforts from other companies to expand orders in overseas markets.

(3) Organizational chart

Image: Organizational chart
Organizational chart

2. Items to be described by purpose of the general shareholders' meeting

? Election of directors

A. Candidate's name, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate's name Date of birth Outside director
Whether a candidate

Audit committee member

Whether directors are elected separately

Relationship with largest shareholder Recommender
Kim Seon-gi 60.07.22 Vice N/A N/A Board of Directors
Elbert Michael Yusley 50.01.20 Vice N/A N/A Board of Directors
Lee Jeong-min 72.04.09 Vice N/A N/A Board of Directors
Yoo Yeong-seon 60.05.20 Female N/A N/A Board of Directors
Total (4)

B. Candidate's main occupation, detailed career, transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Kim Seon-gi The Coretec Group Inc. Chairman 2024 ~ Present
2023 ~ Present
2020 ~ 2023
2019 ~ 2019 The Coretec Group Inc. Chairman
Zaicell Inc. CEO
President, Feast Global Inc.
Vice Chairman, I-Map Asset Management Co., Ltd. Not applicable
Elbert Michael Usley The Coretec Group Inc. CEO 2024 ~ Present
2009 ~ Present
2010 ~ 2020 The Coretec Group Inc. CEO
Chairman, CalErin Group
International Relations Advisor, San Leon Energy Not applicable
Jeongmin Lee The Coretec Group Inc.
General Manager, Accounting, Human Resources, Organization Management Support 2024 ~ Present

2009 ~ 2024 The Coretec Group Inc. Accounting, Human Resources, Organization Management Support
MI Links Vice President None
Yoo Young-sun CFO Vice President, Hapcheon Food Co., Ltd. 2023 ~ Present
2020 ~ 2023
2018 ~ 2019
2009 ~ 2015 CFO Vice President, Hapcheon Food Co., Ltd.
Samtech Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank General Manager, Finance None

D. Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law

Candidate Name Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law
Kim Seon-gi None None None None
Elbert Michael Yusley None None None None
Lee Jeong-min None None None None
Yoo Young-sun None None None None

D. Candidate's Job Performance Plan (Limited to the case of appointment as an outside director)

[Candidate Yoo Young-sun]

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care and loyalty, duty of reporting, duty of monitoring, duty of mutual business execution monitoring, duty of non-competition, duty of non-self-dealing, and duty of compliance with corporate secrets, and will strictly comply with them.

2. Based on his diverse experience, he will enhance the diversity of the board of directors and perform his independent duties as an outside director by presenting professional opinions and expressing his opinions in the committees within the board of directors, and while representing the interests of shareholders and society, he will resolve major management issues for the long-term growth of the company and maximizing corporate value.

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yousley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continuously contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.

[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the improvement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight through his abundant knowledge, and has been recommended as a candidate.

Confirmation

Image: Confirmation Certificate Candidate Kim Seon-gi
Confirmation Certificate Candidate Kim Seon-gi

Image: Confirmation Certificate Albert Michael Yousley Hugo
Confirmation Certificate Albert Michael Yousley Hugo

Image: Confirmation Certificate Candidate Yoo Yeong-seon
Confirmation Certificate Candidate Yoo Yeong-seon

Image: Confirmation Certificate Candidate Lee Jeong-min
Confirmation Certificate Candidate Lee Jeong-min

? Other Notes
Send feedback

Next filing Kib Plug Energy
2. Matters to be recorded by purpose of general shareholders' meeting

? Election of directors

A. Name of candidate, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate name Date of birth Outside director
Whether candidate

Member of audit committee

Whether directors are elected separately

Relationship with largest shareholder Recommender
Kim Seon-gi 60.07.22 Vice None None None Board of directors
Elbert Michael Yusley 50.01.20 Vice None None None Board of directors
Lee Jeong-min 72.04.09 Vice None None None Board of directors
Yoo Yeong-seon 60.05.20 Female None None None Board of directors
Total ( 4 ) persons

B. Candidate's main occupation, detailed career, and transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Kim Seon-gi Chairman of The Coretec Group Inc. 2024 ~ Present
2023 ~ Present
2020 ~ 2023
2019 ~ 2019 Chairman of The Coretec Group Inc.
CEO of Zaicell Inc.
CEO of Fist Global Inc.
Vice Chairman of I-Map Asset Management Co., Ltd. Not applicable
Elbert Michael Yusley CEO of The Coretec Group Inc. 2024 ~ Present
2009 ~ Present
2010 ~ 2020 CEO of The Coretec Group Inc.
Chairman of CalErin Group
International Relations Advisor of San Leon Energy Not applicable
Lee Jeong-min The Coretec Group Inc.
General Manager of Accounting, Human Resources, and Organization Management Support 2024 ~ Present

2009 ~ 2024 The Coretec Group Inc. Accounting, Human Resources, Organization Management Support
MI Links Vice President None
Yoo Young-sun CFO Vice President, Hapcheon Food Co., Ltd. 2023 ~ Present
2020 ~ 2023
2018 ~ 2019
2009 ~ 2015 CFO Vice President, Hapcheon Food Co., Ltd.
Samtech Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank General Manager, Finance None

D. Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law

Candidate Name Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law
Kim Seon-gi None None None None
Elbert Michael Yusley None None None None
Lee Jeong-min None None None None
Yoo Young-sun None None None None

D. Candidate's Job Performance Plan (Limited to the case of appointment as an outside director)

[Candidate Yoo Young-sun]

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care and loyalty, duty of reporting, duty of monitoring, duty of mutual business execution monitoring, duty of non-competition, duty of non-self-dealing, and duty of compliance with corporate secrets, and will strictly comply with them.

2. Based on his diverse experience, he will enhance the diversity of the board of directors and perform his independent duties as an outside director by presenting professional opinions and expressing his opinions in the committees within the board of directors, and while representing the interests of shareholders and society, he will resolve major management issues for the long-term growth of the company and maximizing corporate value.

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yusley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continue to contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.

[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the enhancement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight based on his abundant knowledge.

Confirmation

Image: Confirmation of Candidate Kim Seon-gi
Confirmation of Candidate Kim Seon-gi

Image: Confirmation of Candidate Albert Michael Yusley
Confirmation of Candidate Albert Michael Yusley
Send feedback

1. Business Overview

A. Current Status of the Industry

Our company consists of a chemical equipment sector that mainly produces heat exchangers.

(1) Characteristics of the Industry

The chemical equipment manufacturing industry is a type of PLANT (refinery, chemical) equipment industry and is closely related to facility investments in the domestic and international petrochemical industries. In the case of the plant industry, it is led by large EPC (Engineering Procurement Construction) companies, and chemical equipment is generally ordered through leading domestic and international engineering companies, and products are manufactured through a custom design for each project. Therefore, in order to ensure smooth project progress, the ordering party prefers a manufacturer with an existing transaction history, and since the design of equipment for each project is different, there are limited companies that can carry out the business in accordance with customer requirements.

(2) Industry Growth Potential

In the mid- to long-term, demand for energy and petrochemical products is expected to steadily increase due to global GDP growth and population expansion. In particular, oil-producing countries that depend on crude oil exports and have been suffering from growing deficits due to refining and chemically processed finished products are expanding their investments to establish direct processing facilities to secure higher profits and national competitiveness. Accordingly, major countries in the Middle East/Asia/North America are expected to expand investments in new chemical facilities and green hydrogen/green ammonia plants to respond to environmental regulations.

(3) Characteristics of economic fluctuations

The petrochemical industry is closely related to international oil prices, oil consumption/production, and investment plans of major crude oil and gas resource-holding countries, and is also affected by the flow of the petrochemical industry, which has a cyclical nature. In addition, it is closely related to the international situation and the balance of energy demand and supply.

(4) Competitive Factors
Due to the nature of the industry based on steel welding, the industry leadership is shifting similarly to the shipbuilding industry. The industry that started in the United States, then moved to Japan and then to Korea, and recently, competitors from China and India, who are emphasizing low labor costs for basic equipment for general steel grades, are emerging.
However, based on our manufacturing experience through technical partnerships with leading licensors for the production of various products, our company has secured high recognition from domestic and foreign customers based on our own development of special equipment, quality improvement and technological advancement, and unconditional compliance with delivery dates, and we are dedicated to discovering new customers and conducting sales activities for existing customers to secure stable sales.

B. Company Status

(1) Business Overview and Business Division

(a) Business Overview

In the case of our chemical equipment division, due to the impact of COVID-19, which has spread worldwide, the stagnant consumer activity has entered a recovery phase and oil prices have recovered to pre-COVID-19 levels, but the business environment has been limited due to the suspension of petrochemical and LNG projects in the CIS region and the withdrawal of business due to the Ukraine/Russia War.

However, investment in petrochemical plants and oil production facilities led by oil-producing countries and investment in large-scale LNG plants due to the LNG supply imbalance caused by the Ukraine/Russia War are becoming active. In addition, due to the nature of the industry, VENDOR registration for end customers and experience in performing similar construction are important factors in selecting a manufacturer, and our company has an advantage over competitors in these requirements, and based on this, we are actively conducting sales activities to win orders.

In addition to recently winning orders through EPC, we are also gradually expanding sales activities to win orders directly from end users in each country.

(Me) Classification of business sectors subject to disclosure

The company has indicated (1) as the chemical equipment sector that manufactures heat exchangers, etc. as written in the business overview

(2) Market share

In the case of the petrochemical plant sector (chemical equipment sector), it focuses on overseas markets, and the company's market share is a business linked to the overall plant facilities, so the scale is so vast and statistical data is insufficient that it is difficult to express it in arithmetic, making it impossible to make reasonable statistics, but the company estimates that it maintains a top ranking in Korea. In addition, the company has a solid position in the overseas market through approximately 40 years of business experience and external credibility, and is continuously establishing and promoting an order acquisition strategy through dense communication with existing business partners and discovering new business partners, thereby securing stable business partners as well as securing competitiveness and differentiating efforts from other companies to expand orders in overseas markets.

(3) Organizational chart

Image: Organizational chart
Organizational chart

2. Items to be described by purpose of the general shareholders' meeting

? Election of directors

A. Candidate's name, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate's name Date of birth Outside director
Whether a candidate

Audit committee member

Whether directors are elected separately

Relationship with largest shareholder Recommender
Kim Seon-gi 60.07.22 Vice N/A N/A Board of Directors
Elbert Michael Yusley 50.01.20 Vice N/A N/A Board of Directors
Lee Jeong-min 72.04.09 Vice N/A N/A Board of Directors
Yoo Yeong-seon 60.05.20 Female N/A N/A Board of Directors
Total (4)

B. Candidate's main occupation, detailed career, transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Kim Seon-gi The Coretec Group Inc. Chairman 2024 ~ Present
2023 ~ Present
2020 ~ 2023
2019 ~ 2019 The Coretec Group Inc. Chairman
Zaicell Inc. CEO
President, Feast Global Inc.
Vice Chairman, I-Map Asset Management Co., Ltd. Not applicable
Elbert Michael Usley The Coretec Group Inc. CEO 2024 ~ Present
2009 ~ Present
2010 ~ 2020 The Coretec Group Inc. CEO
Chairman, CalErin Group
International Relations Advisor, San Leon Energy Not applicable
Jeongmin Lee The Coretec Group Inc.
General Manager, Accounting, Human Resources, Organization Management Support 2024 ~ Present

2009 ~ 2024 The Coretec Group Inc. Accounting, Human Resources, Organization Management Support
MI Links Vice President None
Yoo Young-sun CFO Vice President, Hapcheon Food Co., Ltd. 2023 ~ Present
2020 ~ 2023
2018 ~ 2019
2009 ~ 2015 CFO Vice President, Hapcheon Food Co., Ltd.
Samtech Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank General Manager, Finance None

D. Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law

Candidate Name Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law
Kim Seon-gi None None None None
Elbert Michael Yusley None None None None
Lee Jeong-min None None None None
Yoo Young-sun None None None None

D. Candidate's Job Performance Plan (Limited to the case of appointment as an outside director)

[Candidate Yoo Young-sun]

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care and loyalty, duty of reporting, duty of monitoring, duty of mutual business execution monitoring, duty of non-competition, duty of non-self-dealing, and duty of compliance with corporate secrets, and will strictly comply with them.

2. Based on his diverse experience, he will enhance the diversity of the board of directors and perform his independent duties as an outside director by presenting professional opinions and expressing his opinions in the committees within the board of directors, and while representing the interests of shareholders and society, he will resolve major management issues for the long-term growth of the company and maximizing corporate value.

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yousley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continuously contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.

[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the improvement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight through his abundant knowledge, and has been recommended as a candidate.

Confirmation

Image: Confirmation Certificate Candidate Kim Seon-gi
Confirmation Certificate Candidate Kim Seon-gi

Image: Confirmation Certificate Albert Michael Yousley Hugo
Confirmation Certificate Albert Michael Yousley Hugo

Image: Confirmation Certificate Candidate Yoo Yeong-seon
Confirmation Certificate Candidate Yoo Yeong-seon

Image: Confirmation Certificate Candidate Lee Jeong-min
Confirmation Certificate Candidate Lee Jeong-min ( 1. Business Overview

A. Current Status of the Industry

Our company consists of a chemical equipment sector that mainly produces heat exchangers.

(1) Characteristics of the Industry

The chemical equipment manufacturing industry is a type of PLANT (refinery, chemical) equipment industry and is closely related to facility investments in the domestic and international petrochemical industries. In the case of the plant industry, it is led by large EPC (Engineering Procurement Construction) companies, and chemical equipment is generally ordered through leading domestic and international engineering companies, and products are manufactured through a custom design for each project. Therefore, in order to ensure smooth project progress, the ordering party prefers a manufacturer with an existing transaction history, and since the design of equipment for each project is different, there are limited companies that can carry out the business in accordance with customer requirements.

(2) Industry Growth Potential

In the mid- to long-term, demand for energy and petrochemical products is expected to steadily increase due to global GDP growth and population expansion. In particular, oil-producing countries that depend on crude oil exports and have been suffering from growing deficits due to refining and chemically processed finished products are expanding their investments to establish direct processing facilities to secure higher profits and national competitiveness. Accordingly, major countries in the Middle East/Asia/North America are expected to expand investments in new chemical facilities and green hydrogen/green ammonia plants to respond to environmental regulations.

(3) Characteristics of economic fluctuations

The petrochemical industry is closely related to international oil prices, oil consumption/production, and investment plans of major crude oil and gas resource-holding countries, and is also affected by the flow of the petrochemical industry, which has a cyclical nature. In addition, it is closely related to the international situation and the balance of energy demand and supply.

(4) Competitive Factors
Due to the nature of the industry based on steel welding, the industry leadership is shifting similarly to the shipbuilding industry. The industry that started in the United States, then moved to Japan and then to Korea, and recently, competitors from China and India, who are emphasizing low labor costs for basic equipment for general steel grades, are emerging.
However, based on our manufacturing experience through technical partnerships with leading licensors for the production of various products, our company has secured high recognition from domestic and foreign customers based on our own development of special equipment, quality improvement and technological advancement, and unconditional compliance with delivery dates, and we are dedicated to discovering new customers and conducting sales activities for existing customers to secure stable sales.

B. Company Status

(1) Business Overview and Business Division

(a) Business Overview

In the case of our chemical equipment division, due to the impact of COVID-19, which has spread worldwide, the stagnant consumer activity has entered a recovery phase and oil prices have recovered to pre-COVID-19 levels, but the business environment has been limited due to the suspension of petrochemical and LNG projects in the CIS region and the withdrawal of business due to the Ukraine/Russia War.

However, investment in petrochemical plants and oil production facilities led by oil-producing countries and investment in large-scale LNG plants due to the LNG supply imbalance caused by the Ukraine/Russia War are becoming active. In addition, due to the nature of the industry, VENDOR registration for end customers and experience in performing similar construction are important factors in selecting a manufacturer, and our company has an advantage over competitors in these requirements, and based on this, we are actively conducting sales activities to win orders.

In addition to recently winning orders through EPC, we are also gradually expanding sales activities to win orders directly from end users in each country.

(Me) Classification of business sectors subject to disclosure

The company has indicated (1) as the chemical equipment sector that manufactures heat exchangers, etc. as written in the business overview

(2) Market share

In the case of the petrochemical plant sector (chemical equipment sector), it focuses on overseas markets, and the company's market share is a business linked to the overall plant facilities, so the scale is so vast and statistical data is insufficient that it is difficult to express it in arithmetic, making it impossible to make reasonable statistics, but the company estimates that it maintains a top ranking in Korea. In addition, the company has a solid position in the overseas market through approximately 40 years of business experience and external credibility, and is continuously establishing and promoting an order acquisition strategy through dense communication with existing business partners and discovering new business partners, thereby securing stable business partners as well as securing competitiveness and differentiating efforts from other companies to expand orders in overseas markets.

(3) Organizational chart

Image: Organizational chart
Organizational chart

2. Items to be described by purpose of the general shareholders' meeting

? Election of directors

A. Candidate's name, date of birth, recommender, relationship with largest shareholder, whether outside director candidate, etc.

Candidate's name Date of birth Outside director
Whether a candidate

Audit committee member

Whether directors are elected separately

Relationship with largest shareholder Recommender
Kim Seon-gi 60.07.22 Vice N/A N/A Board of Directors
Elbert Michael Yusley 50.01.20 Vice N/A N/A Board of Directors
Lee Jeong-min 72.04.09 Vice N/A N/A Board of Directors
Yoo Yeong-seon 60.05.20 Female N/A N/A Board of Directors
Total (4)

B. Candidate's main occupation, detailed career, transaction history with the relevant corporation for the past 3 years

Candidate's name Main occupation Detailed career Transaction history with the relevant corporation for the past 3 years
Period Contents
Kim Seon-gi The Coretec Group Inc. Chairman 2024 ~ Present
2023 ~ Present
2020 ~ 2023
2019 ~ 2019 The Coretec Group Inc. Chairman
Zaicell Inc. CEO
President, Feast Global Inc.
Vice Chairman, I-Map Asset Management Co., Ltd. Not applicable
Elbert Michael Usley The Coretec Group Inc. CEO 2024 ~ Present
2009 ~ Present
2010 ~ 2020 The Coretec Group Inc. CEO
Chairman, CalErin Group
International Relations Advisor, San Leon Energy Not applicable
Jeongmin Lee The Coretec Group Inc.
General Manager, Accounting, Human Resources, Organization Management Support 2024 ~ Present

2009 ~ 2024 The Coretec Group Inc. Accounting, Human Resources, Organization Management Support
MI Links Vice President None
Yoo Young-sun CFO Vice President, Hapcheon Food Co., Ltd. 2023 ~ Present
2020 ~ 2023
2018 ~ 2019
2009 ~ 2015 CFO Vice President, Hapcheon Food Co., Ltd.
Samtech Vice President
KH Chemical (now 'Cobon') CEO
Hana Bank General Manager, Finance None

D. Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law

Candidate Name Whether the candidate has delinquent taxes, is an executive of an insolvent company, or is disqualified under the law
Kim Seon-gi ( Seon Kee Kim* )None None None None
Elbert Michael Yusley ( Elbert Michael Ussery )None None None None
Lee Jeong-min (Jung Min Lee )None None None None
Yoo Young-sun None None None None

D. Candidate's Job Performance Plan (Limited to the case of appointment as an outside director)

[Candidate Yoo Young-sun]

1. This candidate is aware of the duties of an outside director under the Commercial Act, such as the duty of care and loyalty, duty of reporting, duty of monitoring, duty of mutual business execution monitoring, duty of non-competition, duty of non-self-dealing, and duty of compliance with corporate secrets, and will strictly comply with them.

2. Based on his diverse experience, he will enhance the diversity of the board of directors and perform his independent duties as an outside director by presenting professional opinions and expressing his opinions in the committees within the board of directors, and while representing the interests of shareholders and society, he will resolve major management issues for the long-term growth of the company and maximizing corporate value.

B. Reasons for the Board of Directors' Recommendation of the Candidate

[Candidate Kim Seon-gi]
The candidate was recommended as a candidate because he is judged to be able to sufficiently perform his duties by enhancing the transparency and soundness of management based on his experience and knowledge.

[Candidate Albert Michael Yousley]
This candidate is expected to perform his role as a director well based on his professionalism, job fairness, and ethical responsibility, and the board of directors has recommended him as a candidate because it is judged that he will continuously contribute to the development of the company.

[Candidate Lee Jeong-min]
The candidate is expected to contribute to the major decision-making necessary for our business and the development of the company based on his professional knowledge, and has been recommended as a candidate.

[Candidate Yoo Yeong-seon]
The candidate is expected to contribute to the improvement of corporate value in the mid- to long-term through his outstanding professionalism and broad insight through his abundant knowledge, and has been recommended as a candidate.

Confirmation

Image: Confirmation Certificate Candidate Kim Seon-gi ( Seon Kee Kim)
Confirmation Certificate Candidate Kim Seon-gi

Image: Confirmation Certificate Albert Michael Yousley Hugo( Elbert Michael Ussery )
Confirmation Certificate Albert Michael Yousley Hugo

Image: Confirmation Certificate Candidate Yoo Yeong-seon
Confirmation Certificate Candidate Yoo Yeong-seon

Image: Confirmation Certificate Candidate Lee Jeong-min ( Jung Min Lee
Confirmation Certificate Candidate Lee Jeong-min (Jung Min Lee)

Thanksgiving Blessings to Everyone……..

There are several more entries besides this one . Im breaking them up .
Notice of Shareholders' Meeting

November 28, 2024

Company Name: KIB Plug Energy Co., Ltd.

Representative Director: Heo Seong-ho
Head Office Address: 260-37, Cheoyong-ro, Nam-gu, Ulsan

(Tel) 052-278-9000

(Website) http://kibplugenergy.com

Writer: (Position) Management Manager (Name) Park Sang-jun

(Tel) 052-278-9000

Notice of Convocation of Shareholders' Meeting

(44th Temporary)

We wish you good health and peace in your home.

In accordance with Article 18 of the Articles of Incorporation, we hereby convene the 44th Temporary Shareholders' Meeting as follows.

Please attend.

- Next -

1. Date and Time: 10:00 AM, Friday, December 13, 2024

2. Location: 260-37 Cheoyong-ro, Nam-gu, Ulsan (3rd floor conference room, headquarters)

3. Purpose of the Meeting

A. Agenda Items

Agenda Item 1: Appointment of Directors (4 persons)
- Agenda Item 1-1: Appointment of Inside Director Kim Seon-gi (new appointment)

- Agenda Item 1-2: Appointment of Inside Director Albert Michael Yusley (new appointment)

- Agenda Item 1-3: Appointment of Inside Director Lee Jeong-min (new appointment)

- Agenda Item 1-4: Appointment of Outside Director Yoo Young-sun (new appointment)

4. Matters concerning the exercise of voting rights
Korea Deposit Insurance Corporation will not be able to exercise shareholders' voting rights at this shareholders' meeting. Therefore, shareholders do not need to inform Korea Deposit Insurance Corporation of their intention to exercise voting rights, and may attend the shareholders' meeting and exercise voting rights directly or indirectly by proxy.

5. What to bring when attending the shareholders' meeting
A. Direct voting: ID
B. Proxy
- Individual shareholders: Power of attorney, proxy's ID card
- Corporate shareholders: Power of attorney, proxy's ID card, corporate seal certificate
- Information to be included in the power of attorney
? Name, address, resident registration number of the proxy (business registration number in case of a corporation)
? Name, address, resident registration number of the proxy, and information on delegation of voting rights
? Seal of the proxy

KIB Plug Energy Co., Ltd.

Representative Director Heo Seong-ho (Seal omitted)

I. Matters concerning the activities and compensation of outside directors, etc.

1. Activities of outside directors, etc.

A. Attendance rate of the board of directors and pros and cons of the board of directors' agenda

Date of meeting Name of outside directors for agenda
Son Kyo-deok
(Attendance rate: 100%) Jo Han-wook
(Attendance rate: 100%) Chun Daniel
(Attendance rate: 100%)
For and against
1 01.12 Increase in loan limit Agree Agree Agree
2 01.17
Acquisition of stocks in other corporations/

Acquisition of tangible assets

Agree /
Agree Agree /
Agree Agree /
Agree
3 01.22 Acquisition of stocks in other corporations Agree Agree Agree
4 01.31 Concurrent directorship/
Concurrent directorship/
Payment of loans
Agree /
Agree Agree Agree /
Agree Agree /
Agree Agree
5 02.07 Approval of financial statements Agree Agree Agree
6 02.26 Board of directors' regulations Changes Agree Disagree Disagree
7 03.07 Loan of funds Agree Agree Agree
8 03.14 Convening the 43rd regular shareholders' meeting /
Introduction of electronic voting
Agree /
Agree Agree /
Agree
9 03.14 Internal accounting management system evaluation report - - -
10 03.26 Extension of credit /
Submission of resignation letter by outside director Daniel Chun /
Approval of the 2024.3.14 board of directors' resolution regarding the agenda for the shareholders' meeting to dismiss inside director Seungryun Baek
Agree /
Agree /
Agree Agree /
Agree -
11 04.01 Report and repayment according to the receipt of the 12th convertible bond redemption request Agree Agree -
12 04.29 New borrowing Agree Agree -
13 05.20 Decision on acquisition of stocks and investment securities of other corporations Withdrawal /
Motion on credit agreement /
Motion on financial support Aye Aye /
Aye Aye Aye /
Aye Aye /
Aye -
14 06.05 Loan Aye Aye -
15 06.17 Liquidation of Korea Hydrogen Power Co., Ltd. Aye Aye -
16 07.15 Loan extension Aye Aye -
17 08.08 Loan extension Aye Aye -
18 09.03 Conclusion of Bumhan Motors equity adjustment and loan settlement agreement Aye Aye -
19 10.07 New borrowing Aye Aye -
20 10.15 Resolution to convene extraordinary general meeting of shareholders Aye Aye -
21 11.20 Resolution to convene extraordinary general meeting of shareholders Aye Aye -

B. Activities of outside directors, etc. in the committees within the board of directors

Committee name Member Activities
Date of meeting Agenda Approval or rejection
- - - - -

2. Status of compensation of outside directors, etc.

(Unit: KRW)
Classification Number of people Amount approved by general shareholders' meeting Total amount paid Average amount paid per person
Remarks
Outside directors 2 2,000,000,000 116,000,000 58,000,000 -
Note 1) The above amount approved by general shareholders' meeting is based on 7 registered directors.
Note 2) The above total amount paid is the amount paid until October 2024.

1. Transactions where the single transaction amount exceeds a certain amount

(Unit: 100 million won)
Type of transaction Counterparty
(Relationship with the company) Transaction period Transaction amount Ratio (%)
Loan of funds Beomhan Automobile Co., Ltd.
(Related company) 2024.01.02 27 1.22
* The ratio (%) is the single transaction amount ratio of 1% or more to the total assets on the financial statements at the end of 2023

2. Transactions where the total transaction amount including a specific person and the transaction exceeds a certain amount during the relevant fiscal year

(Unit: 100 million won)
Counterparty
(Relationship with the company) Transaction type Transaction period Transaction amount Ratio (%)
- - - - -

New filing today for Kib Plug Energy 11/28/24. ( Heres one of 2 ) Appointment of new directors for Kib Plug Energy
Elbert Michael Ussery , Dr. Seon Kee Kim and Jung Min Lee all listed in the new filing . The names didnt translate exactly right in the filing

Kib plug energy
[Decision on Calling Shareholders' Meeting]

Report of Disclosure Revision
Revision Date 2024-11-28
1. Disclosure Documents in relation with Revision Resolution to convene general shareholders' meeting
2. Submission date of documents 2024-11-20
3. Reason for Revision Change in schedule of general shareholders' meeting and change in main contents of agenda
4. Revised Information
information before revision after revision
2. Date 2025-02-05 / 10:00 2024-12-13 / 10:00
4. Main contents of agenda Agenda No. 1: Election of directors
- No. 1-1 Other non-executive director candidate Cha Yoon-seong Agenda No. 1: Election of directors (Total 4 persons)

- Agenda No. 1-1: Candidate for inside director Kim Seon-gi ( Seon Kee Kim )
- Agenda No. 1-2: Candidate for inside director Albert Michael Yusley ( Elbert Michael Ussery )
- Agenda No. 1-3: Inside director Candidate Lee Jeong-min ( Jung Min Lee )
- Agenda No. 1-4: Outside Director Candidate Yoo Young-sun
-
Decision on Calling Shareholders' Meeting
1. Type of shareholders' meeting Extraordinary meeting
2. Date and time of meeting 2024-12-13 10:00
3. Place of meeting 260-37, Cheoyong-ro, Nam-gu, Ulsan
Headquarters, 3rd floor conference room
4. Agenda and key issues Agenda No. 1: Appointment of directors (total of 4)

- Agenda No. 1-1: Inside director candidate Kim Seon-gi ( Dr. Seon Kee Kim )
- Agenda No. 1-2: Inside director candidate Albert Michael Yusley ( Elbert Michael Ussery )
- Agenda No. 1-3: Inside director candidate Lee Jeong-min ( Jung Min Lee )
- Agenda No. 1-4: Outside director candidate Yoo Young-sun
5. Date of board resolution (decision date) 2024-11-28
- Attendance of outside directors Present(No.) 2
Absent(No.) -
- Attendance of auditors (members of Audit Committee who are not outside directors) Present
6. Other matters to be factored into investment decisions
- Date of confirmation of rights shareholders: November 6, 2024
- Shareholder registry closing period: November 7, 2024 ~ November 8, 2024
- The main contents of the above 4. agenda may change and will be re-announced in case of change.
? Related disclosure 2024-11-20 Shareholders' meeting convocation resolution
2024-10-15 Shareholders' meeting convocation resolution

[Details of Director Appointment]
Name Date of birth (year and month) Appointment term Type of appointment Professional experience (including present position)
Kim Seon-gi ( Seon Kee Kim ) 1960-07 3 Newly appointed Current The Coretec Group Inc. Chairman
Current CEO of Zaicell
Former CEO of Feast Global

Elbert
Michael
Ussery 1950-01 3 Newly appointed Current CEO of The Coretec Group Inc.
Current Chairman of CalErin Group
Former Senior Advisor to the U.S. State Department
Former Ambassador to Morocco
Former Chairman of the Advisory Board of CalErin Group
1972-04 3 Newly appointed Current CEO of The Coretec Group Inc.

Lee Jeong-min ( Jung Min Lee ) General Manager of Accounting, Human Resources, and Organization Management Support
Former Deputy Director and Research Team Leader of KOTRA Washington D.C. Office
Former Washington Trade Desk Leader
Former Financial Analyst at Merrill Lynch

[Details of Outside Director Appointment]
Name Date of birth (year and month) Appointment term Type of appointment Professional experience (including present position) Name and position of the company where holding the role of directors and etc. Yoo Young-sun 1960-05 3 Newly appointed Vice President, CFO, Hapcheon Food Co., Ltd.
Former CEO, KH Chemical
Former CFO, ATINUM Partners Vice President, Hapcheon Food Co., Ltd.

CFO Uusiheimala Antti William filed Form 3, acknowledging that he is the new CFO and that no securities are beneficially owned.
It looks like he will have to prove himself to get some shares. Get that 10 Q done.

Some additional information:

7. Confirmation Date
May 16, 2024
• Regarding the details of Claim No. 3, the specific items are listed as follows:
[Details]
Board meeting records (including those of committees within the board) and related materials held from January 1, 2023, to the present (2024), in the following forms: hard copy or electronic file format stored in computer systems.
1. All board meeting records and related materials concerning the Defendant company's financial status, operational reports, audit reports, and approvals, as well as external public disclosure.
2. All board meeting records and related materials related to the acquisition of Jisan Corporation, discussed at the board meeting held on August 25, 2023.
3. All board meeting records and related materials concerning the
establishment of KYIB subsidiary in Korea, as discussed in the October 23, 2023 board meeting.

2.All board meeting records and related materials related to the acquisition of Jisan Corporation, discussed at the board meeting held on August 25, 2023.

3. All board meeting records and related materials concerning the
establishment of KYIB subsidiary in Korea, as discussed in the October 23, 2023 board meeting.

4. All board meeting records and related materials concerning discussions on Korean subsidiary operations, including M&A-related topics and potential joint venture agreements with Noble Envirobin, as discussed during 2023 board meetings.

5. All board meeting records and related materials related to electricity sales agreements discussed at the March 18, 2023 board meeting.

8. Other Matters to Be Factored Into
Investment Decisions
None explicitly mentioned.

Im still looking for the filings about the 2023 activities that have been filed in court but heres one from filed in August in Kibs filings
Filing or Application of Lawsuit, etc. (Corporate Control Contest)
1. Case name Temporary injunction for suspension of duties Docket number 2024??21175
2. Plaintiff (claimant) Hwang Seong-hee
3. Details of claims Creditor: Hwang Seong-hee
Creditor's representative: Taecheong Law Firm
Debtor: Heo Seong-ho, Baek Seung-ryun, Son Kyo-deok, Jo Han-wook, Choi Su-hyeon

1. Until the final judgment on the merits of the lawsuit for the dismissal of directors against the applicant's KIB Plug Energy Co., Ltd., the respondent Heo Seong-ho shall not perform the duties of the representative director and director of the company, the respondent Baek Seung-ryun shall not perform the duties of the company's inside director, the respondent Son Kyo-deok and Jo Han-wook shall not perform the duties of the company's outside directors, and the respondent Choi Su-hyeon shall not perform the duties of any other non-executive director.

4. Competent court Seoul Central District Court
5. Actions to be taken We will respond in accordance with legal procedures. 6. Date of filing or application 2024-08-02
7. Confirmation date 2024-08-05
8. Other matters to be factored into investment decisions - The above '6. Date of filing or application' is the date the applicant filed the application with the court.

- The above '7. Date of confirmation' is the date the company received and confirmed the application.

- We plan to disclose related information when there are future progress and confirmed facts.

Some of the problems took place are based off of financials in 2023 ( 5. The equity capital of the above 2 is the total capital based on the consolidated financial statements at the end of 2023. )according to what we have viewed here at the hub and someone had sent me the court documents said the same thing . I know it says 2024 for some recent filings but other filings and court filing say its based on financials from 2023 The Coretec Groups law firm representation in Korea im sure has helped them to cover all the bases before the acquisition took place . When i looked at the Kib Plug Energy website that is in Korean has some nice video of the plant . The english site just has a still photo on the home page . The video photos of the company look impressive and appears to be at least a good sized company . http://www.kibplugenergy.com/main/
They had 182 employees in one filing on Dart recently

I agree

That has crossed my mind. It seems to me they knew about this problem before they decided to buy those shares. They see something worth more than what they paid for the shares. Will this end up with Coretec replacing the management and the board and turning the company around to better profit?
Currently, these are just allegations.

Some news from the company would be excellent!
Sometimes, I think company management's only knowledge of how to run a company is how to run a private corporation. All the insiders know what's going on today and down the road.

I would be concerned with what is happening to the business through this ordeal. The isMedia situation might be a good comparison - they lost pretty much all their cell phone business customers when they were shut down and forced to go private. If you were a Kib Plug Energy customer would you be sticking around to see what happens? I'd be headed for their competitors office myself. This appears to be a situation to run from, but the exchange of money and shares has already taken place. We're stuck.

This report was submitted by the Securities Market Division on Dart today.

https://investorshub.advfn.com/uimage/uploads/2024/11/27/wdgqmScreenshot_27-11-2024_103121_dart.fss.or.kr.jpeg

Looks like the embezzlement first occurred in August 2024.
I don't see this having to do with Coretec. They will eventually point a new management and board member to KIB Plug Energy.

Here are some images of the translation of the report on Dart today. Screenshots are taken in a row.
Image 1:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/gswupScreenshot-1_27-11-2024_83534_dart.fss.or.kr.jpeg
Image 2:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/nvrcfScreenshot-2_27-11-2024_83832_dart.fss.or.kr.jpeg
Image 3:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/csqrlScreenshot-3_27-11-2024_84231_dart.fss.or.kr.jpeg
Image 4:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/ddcgrScreenshot-4_27-11-2024_84337_dart.fss.or.kr.jpeg
Image 5:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/yoriiScreenshot-5_27-11-2024_84542_dart.fss.or.kr.jpeg
Image 6:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/[stdtScreenshot-6_27-11-2024_84658_dart.fss.or.kr.jpeg
Image 7:
https://investorshub.advfn.com/uimage/uploads/2024/11/27/fnyqmScreenshot-7_27-11-2024_84757_dart.fss.or.kr.jpeg

Here is a full screenshot of the first part. It is a little grainy, and you might need to magnify it in your browser.
https://investorshub.advfn.com/uimage/uploads/2024/11/27/zpa[rScreenshot-Full_27-11-2024_91720_dart.fss.or.kr.jpeg

Form 3 and Form 4 filed yesterday by Birge Watkins

https://investors.thecoretecgroup.com/node/8676/html

https://investors.thecoretecgroup.com/node/8681/html

Filing today by KIB Plug Energy 11-27-2024

Kib plug energy
[Notice on Other Matters (Disclosure of KRX)]

KIB Plug Energy Co., Ltd., Notice of Occurrence of Reasons for Substantive Review of Listing Eligibility (2024.11.27)
2. Details 2024.11.27 KIVI Plug Energy Co., Ltd. made a public announcement regarding embezzlement and breach of trust by current executives, etc., '[Correction] Occurrence of Embezzlement and Breach of Trust'.

In relation to this, we plan to determine whether the company is subject to deliberation by the Corporate Review Committee in accordance with Article 49 of the Listing Regulations of the Stock Market.

In the future, based on the decision on whether the company is subject to deliberation by the Corporate Review Committee (as of December 18, 2024, if additional investigation is necessary, the period may be extended within 15 days (based on business days),

1) If it is determined to be subject to deliberation, we will provide information on the progress of the Corporate Review Committee deliberation procedure (continued trading suspension),

2) If it is determined to be excluded from deliberation, we will provide information on the lifting of the trading suspension.


3. Other references useful for making investment decisions -
? Title and date of other disclosure related to this one 2024-11-27 Embezzlement and breach of trust suspicions

Kib plug energy
[Suspicion of Embezzlement or Misappropriation by Officers or Employees]

Report of Disclosure Revision
Revision Date 2024-11-27
1. Disclosure Documents in relation with Revision Embezzlement and breach of trust allegations
2. Submission date of documents 2024-11-27
3. Reason for Revision Additional complaint received
4. Revised Information
information before revision after revision
1. Incident details - Complaint details: Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes
(Breach of trust)

- Accuser: Cheon ??? (Outside Director)
Choi ??

- Defendant: Heo ?? (CEO)

Choi ?? (Other Non-Executive Director)
Kim ?? A. Confirmation of the fact that a public prosecution was filed against the company's executives for embezzlement and breach of trust

B. Accuser: Cheon ??? (Outside Director)
Choi ??
Jeon ??

D. Defendant: CEO Heo ??

Non-executive director Choi ??

Actual owner Kim ??

Park ??

Kim ??
2. Amount of embezzlement, etc.

- Amount of alleged occurrence (KRW)
- Ratio to equity capital (%) 5,018,500,000
3.92 7,078,500,000
5.53
4. Date of occurrence 2024-09-10 2024-11-26
5. Date of confirmation 2024-09-10 2024-11-26
6. Other important matters related to investment decisions 1. The above allegations and amount of occurrence are based on the contents described in the complaint and are not confirmed, and may change depending on future investigation and court ruling.

2. The above plaintiff, Cheon ??? (outside director), was excluded from the outside director in the registration, but was confirmed to be an outside director by the Ulsan District Court's ruling on August 22, 2024, and was listed as an outside director.

The company appealed the ruling.

3. The company has not confirmed the facts of embezzlement and breach of trust, and the amount of incurred in 2 above is the amount unilaterally claimed by the plaintiff.

4. The amount of incurred in 2 above is the sum of the initial 4,320,000,000 KRW incurred on 2024.08.27 and the additional 698,500,000 KRW incurred on 2024.09.10.

5. The equity capital in 2 above is the total capital based on the consolidated financial statements at the end of 2023.

6. The date of occurrence of 4 above is the date the plaintiff filed the additional complaint with the Seoul Southern District Prosecutors' Office.

7. The date of confirmation of 5 above is the date the company confirmed the additional complaint.

Any changes or additional facts will be disclosed in compliance with the disclosure regulations. 1. The above charges and the amount of occurrence are based on the contents of the complaint and are not confirmed, and may change due to future investigations and court decisions.

2. The plaintiff, Cheon ??? (outside director), was excluded from the registration as an outside director, but was confirmed to be an outside director by the Ulsan District Court's decision on August 22, 2024, and was therefore listed as an outside director.

The company appealed the decision.

3. Currently, the company has not confirmed the facts of embezzlement and breach of trust, and the amount of occurrence of 2 above is the amount unilaterally claimed by the plaintiff.

4. The amount of occurrence of 2 above is as follows.

1) First occurrence 2024-08-27
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Breach of Trust)
Amount incurred: KRW 4,320,000,000
Target: CEO Heo ??
Choi ?? Other non-executive directors
Kim ?? Actual owner

2) Additional occurrence 2024-09-10
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Breach of Trust)
Amount incurred: KRW 698,500,000
Target: CEO Heo ??
Choi ?? Other non-executive directors
Kim ?? Actual owner

3) Additional occurrence 2024-11-26
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Embezzlement and Breach of Trust)
Amount incurred: KRW 2,060,000,000
Target: CEO Heo ??
Choi ?? Other Non-Executive Director

Kim ?? Actual Owner

5. The equity capital of the above 2 is the total capital based on the consolidated financial statements at the end of 2023.

6. The occurrence date of the above 4 is the date the plaintiff filed an additional complaint with the Seoul Central District Prosecutors' Office.

7. The confirmation date of the above 5 is the date the company confirmed the additional complaint.

8. This disclosure is a confirmed disclosure regarding the request for inquiry disclosure regarding the truth of the allegations of embezzlement and breach of trust by the current management of the exchange (November 26, 2024, 19:18) and the related matters will be disclosed in the future when the allegations are confirmed.
-
Suspicion of Embezzlement or Misappropriation by Officers or Employees
1. Details of suspicion a. Confirmation of the fact that a lawsuit has been filed against the company's executives on charges of embezzlement and breach of trust

B. Plaintiff: Cheon ??? (outside director)
Choi ??
Jeon ??

D. Defendant: Heo ?? CEO
Choi ?? Other non-executive directors
Kim ?? Actual owner
Park ??
Kim ??
2. Amount of embezzlement, etc. Relevant amount (KRW) 7,078,500,000
Equity capital (KRW) 128,025,057,117
Ratio to equity capital (%) 5.53
Classified as a large-sized corporation? No
3. Actions to be taken We will take all strong measures against the complainant through legal representatives in accordance with due process, and we will actively cooperate with the investigation of the relevant authorities.
4. Date of occurrence 2024-11-26
5. Confirmation date 2024-11-26
6. Other matters to be factored into investment decisions 1. The above charges and the amount of occurrence are based on the contents of the complaint and are not confirmed, and may change depending on the future investigation and court ruling.

2. The complainant, Cheon ??? (outside director), was excluded from the registration as an outside director, but on August 22, 2024, the Ulsan District Court confirmed that he was an outside director, and so he was listed as an outside director.

The company appealed the ruling.

3. Currently, the company has not confirmed the facts of embezzlement and breach of trust, and the amount of occurrence in 2 above is the amount unilaterally claimed by the complainant.

4. The amount of occurrence of the above 2 is as follows:

1) First occurrence 2024-08-27
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Breach of Trust)
Amount incurred: KRW 4,320,000,000
Target: CEO Heo ??
Choi ?? Other non-executive directors
Kim ?? Actual owner

2) Additional occurrence 2024-09-10
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Breach of Trust)
Amount incurred: KRW 698,500,000
Target: CEO Heo ??
Choi ?? Other non-executive directors
Kim ?? Actual owner

3) Additional occurrence 2024-11-26
Violation of the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Embezzlement and Breach of Trust)
Amount incurred: KRW 2,060,000,000
Target: CEO Heo ??
Choi ?? Other Non-Executive Director

Kim ?? Actual Owner

5. The equity capital of the above 2 is the total capital based on the consolidated financial statements at the end of 2023.

6. The occurrence date of the above 4 is the date the plaintiff filed an additional complaint with the Seoul Central District Prosecutors' Office.

7. The confirmation date of the above 5 is the date the company confirmed the additional complaint.

8. This disclosure is a final disclosure regarding the request for inquiry disclosure (November 26, 2024 19:18) regarding the truth of the allegations of embezzlement and breach of trust by the current management of the exchange, etc. and the specific details, and we plan to disclose the related information in the future when the allegations above are confirmed.
? Related disclosure 2024-11-26 Request for inquiry disclosure (rumor or report)
2024-09-10 Embezzlement and breach of trust allegations
2024-08-28 Embezzlement and breach of trust allegations
Send feedback

The question in my mind is how long can they go without communicating with shareholders, and not be in trouble with the authorities. I know the OTC and Pinks are the Wild West of stock investment, and I have seen companies rise from the dead after years of not reporting, but I believe it cost them some heavy penalties. I hope CRTG isn't planning to operate in this manner.

Happy Thanksgiving all,

Gary

Since Kib Plug Energy is not trading this morning i wonder if they will be delisted for good ? Thats what happened to isMedia who went private or will they be back open on the Korean market soon after they respond to the requests made by the korean authorities who run the exchange there ?

Several things here . I bet current management shake up taking place already as these guys cant continue on now (...2. Until the final judgment on the merits of the lawsuit for the dismissal of directors by the creditor against KIBI PLUG ENERGY CO., LTD., the debtor Heo Seong-ho shall not perform his duties as the representative director and director of the company, the debtors Son Kyo-deok and Cho Han-wook shall not perform their duties as outside directors of the company, and the debtor Choi Su-hyeon shall not perform any other duties as a non-executive director. )
They may fill the request order seen here satisfied before the deadline on 18:00 which will be 9 AM Wednesday . Its 2:44 AM now in Korea . So they have about 6 hours to go. We can check it out tonight at 6 pm to look for anymore filings on Dart in Korea also check to see if they trade . The new guys from Coretec will reorganize the company structure and ill be looking for that soon along with their detailed plans for the company going forward.


Request for Inquired Disclosure on the allegations of embezzlement and breach of trust by the current management of KIB Plug Energy Co., Ltd.

1. Details of Request The truth and specific details of the allegations of embezzlement and breach of trust by the current management, etc.
2. Deadline for Disclosure 2024-11-27 18:00

It will be suspended tomorrow, November 27, or tonight, at our time.

https://investorshub.advfn.com/uimage/uploads/2024/11/26/tguxsScreenshot_26-11-2024_93654_dart.fss.or.kr.jpeg

This image shows when Coretec and Axios Equity Fund acquired the shares in KIB Plug Energy, how much they paid per share, and how many shares they acquired. The earliest share acquisition was on November 7, and the last was on November 18, 2024.
https://investorshub.advfn.com/uimage/uploads/2024/11/26/l[humScreenshot_26-11-2024_9723_dart.fss.or.kr.jpeg

It looks like Kip Plug Energy traded today so all this looks like it has been resolved . It looked like that case was over in that filing ? there was something about a dismissal it it and court costs would be paid for both cases by the debtor ? Il have to read it again . But its good to have as much background on these dealing since we own shares in Coretec .
https://www.investing.com/equities/daekyung-mach

I dont view this as a negative for the deal with Kib Plug Energy but this situation that took place there in Korea is just one of the reasons that the group running Coretec who are from XTomorrow and Xt equity get involved in other companies to take a major position so they can do a corporate restructuring in what they call on their web site special circumstances or situations they get involved in with under preforming companies who need new management . They take good companies who have a bases of a good business but fall into hard time for some reason or another and they take over that company and reorganize it and grow it . This is what they did with isMedia where the Compact Camera Module business came from the Coretec is now making revenue off of . These guys know what they are doing and how to do it . This is not there first rodeo . Im sure they have turned aroung a lot of tough situations and turned them into successes .

Looking forward to seeing this deal with Kib Plug Energy turn into a successful venture for The Coretec group !!

Where the question marks come in on question #5 this is the translation (which didnt come through the first time i translated it) ....5. Reasons for Trading Suspension or Resumption of Trading : Public disclosure regarding allegations of embezzlement and breach of trust by current management, etc.
785 / 5,000
Suspension of Trading and Resumption of Trading Thereafter(As a result of Inquired Disclosure on Rumors & Reports)

1. Name of Issue Public disclosure regarding allegations of embezzlement and breach of trust by current management, etc. plug energy
2. Trading Suspension Category Trading suspension related to inquired disclosure of rumors etc
3. Date and Time Trading Suspended 2024-11-27 -
4. Date and Time Trading Resumed - -
5. Reasons for Trading Suspension or Resumption of Trading ? ??? ?? ??·?????? ?? ????
6. Legal Basis KOSPI Market Disclosure Regulation Acticle 40
7. Other references useful for making investment decisions -
? Title and date of other disclosure related to this one -
[Derivatives Market Notice] In the event that single stock futures/options for the above-mentioned stock are listed, trading in the corresponding futures/options is simultaneously suspended.
Public disclosure regarding allegations of embezzlement and breach of trust by current management, etc.

it will be interesting to see what The Coretec Group has in mind for the new investment into Kip Plug energy and the questions remains will they shake up the board and leadership of the company and put in new people . Thats what they do well is restructure companies corporate structure and they do it quickly . They will grow this business and every business that is affiliated with the Coretec Group in any way . They have done it before with 1850 of their portfolio companies and will do it again . We are very fortunate to have these people running Coretec today and i am Expecting BIG things from the new leadership . They came into this with a plan and we are just starting to see it unfold before our eyes . I believe the stock price will eventually move to higher levels with great liquidity and big volume .and a much higher stock price . The 10 Q i would think should be out soon and we will be able to view the results of the 3rd quarter and see The Coretec Groups first revenue statements . Whatever it is i believe it is a starting point from which the company will grow and increase revenue as we move forward in the months to come .

Kip Plug Energy filings from DART Korea Today

Kib plug energy
[Request for Inquired Disclosure(Rumor or News)]
Request for Inquired Disclosure on the allegations of embezzlement and breach of trust by the current management of KIB Plug Energy Co., Ltd.
1. Details of Request The truth and specific details of the allegations of embezzlement and breach of trust by the current management, etc.
2. Deadline for Disclosure 2024-11-27 18:00
3. Other references useful for making investment decisions -
? Title and date of other disclosure related to this one -


Filing or Application of Lawsuit, etc. (Corporate Control Contest)
1. Case name 2024??10181, Appeal against the decision to dismiss the provisional disposition, Docket number 2024?10045
2. Plaintiff (claimant) Hwang Seong-hui
3. Details of claims [Indication of original decision]

1. The application for this case is dismissed.

2. The creditor shall bear the litigation costs.

[Purpose of appeal]

1. The original decision is cancelled.

2. Until the final judgment on the merits of the lawsuit for the dismissal of directors by the creditor against KIBI PLUG ENERGY CO., LTD., the debtor Heo Seong-ho shall not perform his duties as the representative director and director of the company, the debtors Son Kyo-deok and Cho Han-wook shall not perform their duties as outside directors of the company, and the debtor Choi Su-hyeon shall not perform any other duties as a non-executive director.

3. The debtors shall bear the litigation costs for both the first and second trials. 4. Competent court Busan High Court (Ulsan Branch)
5. Actions to be taken We will respond according to legal procedures.
6. Date of filing or application 2024-11-01
7. Confirmation date 2024-11-05
8. Other matters to be factored into investment decisions - The case number of the case above 1 has not been assigned and will be corrected and disclosed after confirmation.
- The confirmation date of 7 above is the date on which we confirmed the appeal from our legal representative.
?Related disclosure 2024-11-05 Filing/application for lawsuit, etc. (management rights dispute lawsuit)
2024-10-29 Judgment/decision on lawsuit, etc.
2024-08-06 Filing/application for lawsuit, etc. (management rights dispute lawsuit)


785 / 5,000
Suspension of Trading and Resumption of Trading Thereafter(As a result of Inquired Disclosure on Rumors & Reports)
1. Name of Issue Kib plug energy
2. Trading Suspension Category Trading suspension related to inquired disclosure of rumors etc
3. Date and Time Trading Suspended 2024-11-27 -
4. Date and Time Trading Resumed - -
5. Reasons for Trading Suspension or Resumption of Trading ? ??? ?? ??·?????? ?? ????
6. Legal Basis KOSPI Market Disclosure Regulation Acticle 40
7. Other references useful for making investment decisions -
? Title and date of other disclosure related to this one -
[Derivatives Market Notice] In the event that single stock futures/options for the above-mentioned stock are listed, trading in the corresponding futures/options is simultaneously suspended.

This came from Dart, part of FSS, similar to Edgar, part of SEC. You can also see it in the URL.
https://dart.fss.or.kr/

Response from AI

“The screenshot you provided appears to be a filing from the Financial Supervisory Service of Korea (FSS), which suggests that Coretec Group Inc. (CRTG) may have indeed completed the acquisition of shares in KIB Plug Energy.

The translation of "" (bun-hwa bang-beob) to "method of change" or "method of transfer" implies that the filing is related to the transfer or acquisition of shares.”

Given this new information, it seems likely that CRTG has finalized the acquisition of shares in KIB Plug Energy. This development could have a positive impact on CRTG's market value and investor confidence.

To confirm this information, I recommend verifying the filing details on the FSS website or through other reliable sources. Additionally, monitoring CRTG's future filings and announcements will provide further insight into their business developments and growth strategies.”

They might have already finished the share acquisition in KIB Plug Energy. What do you think?

https://investorshub.advfn.com/uimage/uploads/2024/11/25/pfygyScreenshot_25-11-2024_162833_dart.fss.or.kr.jpeg
The translation of "how to change" could be what to chains or method of change.

With no news or information on how Endurion battery technology is progressing. I sometimes wonder if it is still being commercialized. In the filing Coretec submitted on Dart for KIB Plug Energy, they submitted Coretec as a secondary battery business. I must take that as a positive for Endurion commercialization. They must still be working on it! 😊

https://investorshub.advfn.com/uimage/uploads/2024/11/25/yjsazScreenshot_25-11-2024_152953_dart.fss.or.kr.jpeg

I was referring to who submitted the report for disclosure on KIB Plug Energy.
https://investorshub.advfn.com/uimage/uploads/2024/11/25/wwdisScreenshot_25-11-2024_11629_dart.fss.or.kr.jpeg

Under Part 3 .3
3. Details of funds required for acquisition, etc.

(1) Overview of acquisition funds, etc.

(Unit: KRW)
Name Date of birth or
Business registration number, etc. Own funds (H) Borrowed funds (I) Other (J) Total (H+I+J)
The Coretec Group Inc.

984500090DA5EDBC2E51

9,459,999,910 0 0 9,459,999,910
Axios Equity Fund LLC 9845009DSBFHBE3EE502 0 600,000,000 0 600,000,000

(2) Background and source of acquisition funds, etc.

? In the case of own funds

Name Date of birth or
Business registration number, etc. Background and source of acquisition funds, etc.

The Coretec Group Inc. 984500090DA5EDBC2E51

Funds held

? In the case of borrowings

Borrower Axios Equity Fund LLC Borrower The Coretec Group Inc.
Borrowing amount 600,000,000 Borrowing period 6 months
Whether collateral such as stocks is provided Collateral provided Collateral details Third party stocks

Yeah i get that but the heading next to the name DART on that form is KIP PLug Energy not The Coretec Group . In other words i thought you meant earlier that The Coretec Group name was at the top of the page next to DART not KIP but i can see it was KIP , thats for highlighting that page . Thats how i thought it had to be . . KIP has to file all this info under thier filings along with Coretec info from CRTG as we know . If you go to Dart you cant enter in Coretec as a Korean based company with Coretec at the top of the filings pages .

https://investorshub.advfn.com/uimage/uploads/2024/11/25/uq[wyScreenshot_25-11-2024_105836_dart.fss.or.kr.jpeg

https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20241125000001

That was a KIP filing you posted by,( KIB?????? ) , that was the heading of that document identifing the filer. . I dont think Coretec can file in Korea since we an . Just to,make sure i did a search on their DART site but nothing came up . Not that this matters but you got me to wondering ..KIB just has to notify the public of changes in sharejhloders as we already know .

Question remains , just exactly what are they wanting to do with this company ??

Previous to the Nov 20th filing you highlighted which gave them 41 million shares and 17 % of the company shares They made several tranactions .
A. Details of stock changes

(Unit: shares, won)
Name
(Name) Date of birth or
Business registration number, etc. Change date* Acquisition/disposition
Method Stock type Change details Acquisition/disposition
Unit price** Note
Before change Increase/decrease After change
The Coretec Group Inc
984500090DA5EDBC2E51

November 07, 2024 Over-the-counter purchase (+) Voting stock 0 11,415,525 11,415,525 438 ( ) M Square Global Co., Ltd.
The Coretec Group Inc
984500090DA5EDBC2E51

November 15, 2024 Over-the-counter purchase (+) Voting stock 11,415,525 16,000,000 27,415,525 600 ( ) Open Asia Company Ltd.
The Coretec Group Inc.
984500090DA5EDBC2E51

November 18, 2024 Over-the-counter purchase (+) Voting shares 27,415,525 6,542,056 33,957,581 535 ( ) M Square Global Ltd.
Axios Equity Fund LLC 9845009DSBFHBE3EE502 November 15, 2024 Over-the-counter purchase (+) Voting shares 0 8,000,000 8,000,000 750 ( ) Open Asia Company Ltd.
* In case of trading stocks, etc. on the stock market, the contract date

** In case of securities other than stocks, the securities It refers to the exercise (conversion/exchange) price or the purchase/sale price of stocks acquired/disposed of by exercising the rights of the relevant securities, and the amount in ( ) refers to the purchase/sale price of the relevant securities.

Under another heading : CRTG wanting to exert influence on the company...

Purpose of Holding

Management Rights Influence
- The reporting party intends to exert influence on the company as a shareholder on the matters set forth in Article 154, Paragraph 1 of the Enforcement Decree of the Capital Market and Financial Investment Business Act as specified below.
- There are currently no detailed plans for each of the matters set forth, but in the event that any of the following matters arise in relation to the company's business execution in the future, the company will decide on related actions as a shareholder in accordance with the scope and method permitted by relevant laws and regulations in a manner consistent with the company's management purposes.
1. Appointment of executives. Dismissal or suspension of duties
2. Changes in the articles of incorporation related to the board of directors and other corporate institutions
3. Changes in the capital of the company
4. Merger, division, and division merger of the company
5. Comprehensive exchange and transfer of stocks
6. Assignment or transfer of all business or acquisition or transfer of a significant portion as determined and notified by the Financial Services Commission
7. Disposition of all assets or disposal of a significant portion as determined and notified by the Financial Services Commission
8. Lease or management delegation of all business, contracts to share all profits and losses of business with others, or other similar contracts, changes, or terminations
9. Dissolution of the company
Send feedback

I did get it translated by highlighting it and using google translate . They are moving fast . I did notice on the recent filings where the CRTGs people got 3.3 million shares there was a letter symbol that was used and it meant that they filed earlier than they had to . It seems everything is getting done as far as this recent filing today involving KIP Plug so maybe that was needed so they can file there 10Q ??

Coretec is the filer of the report at Dart (Repository of Korea's Corporate Filings).
They reported assets and who Coretec's largest shareholders are.
https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20241125000001
https://englishdart.fss.or.kr/
Together, they will hold 41,957,581 shares, 17.71%.

This came out today on Dart in Korea . with about 12 pages of filings . It does have the name of the bank on the Coretec series D shares deal that was used . Its probably related to that same deal. Theres another entry Kib has that is related to iWin Co Ltd and one related to MSquare Co Ltd refering to this same type of filing on share holding in the company . Im just trying to get the entire document translated to english its saying under , " Bulk Holding Details "on Part 2 CRTG will have 36 million shares total at 14.33 % of companied total shares . The first page lists 24 million shares etc.. which was what i thought the total for both was but it looks like they will have more Ill work on translating later

https://englishdart-fss-or-kr.translate.goog/dsbh001/main.do?rcpNo=20241125000001&_x_tr_sl=ko&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

Kib plug energy
[Report on significant holdings of stocks, etc. (General)]

?2?

1.
The Coretec Group Inc
984500090DA5EDBC2E51

33,957,581

33,957,581

14.33 %

Axios Equity Fund LLC 9845009DSBFHBE3EE502

8,000,000

8,000,000

3.38 %

This agreement to acquire security in KIB Plug Energy might not go through because of US and South Korean restrictions. Also, if you acquire investment securities exceeding 40% of the value of your total assets, you are considered an investment company, which is more restricted/regulated.
Total Transaction Amount is $7 million.

According to otcmarkets.com, Coretec's market cap was $11.6 million on Friday, the 22nd. Outstanding shares were 1.107 billion, and the public float was 140 million as of 8/21/23. I expected the float to be around 200 million shares today.

Proving assets will be difficult without consolidated audited financial statements. Hopefully, the new CFO can solve that problem.
I believe the management reshuffling and hiring of the new CFO are to ensure this deal goes through without any problems and that the 10Q report is filed.

So, if they make the balance payment #1 on 12/20/24 KRW 3,360,000,000 ($2,388,960.00) and receive the 8.8 million shares, we would know that the share acquisition must have been approved.
If the company doesn't tell us, we might be able to see it on Korean Dart sometime around December 20th if Open Asia Company/KIB Plug Energy must file.
https://englishdart.fss.or.kr/

From the 8K dated November 14, 2024.
Schedule I.
“Currently, we intend to use the proceeds from the issuance of the Securities to acquire certain securities in a third-party corporation, which may be publicly traded outside U.S. markets. However, there is no assurance that the Company will be able to complete this acquisition as intended, as regulatory obstacles, market conditions, or foreign investment restrictions could prevent the use of proceeds for this purpose. If the acquisition cannot be completed, the Company may need to redirect the proceeds to other uses, which may not deliver the same anticipated benefits to the investors.”
https://investors.thecoretecgroup.com/node/8586/html

Market Cap: OS 1,107,432,606 X stock price $0.01045 = $11,572,670.73
https://www.otcmarkets.com/stock/CRTG/security

Test 🕵️ & Walrus,
I hope that we see an increase in share price soon from all of this expansion & value increase! When will the ceo address investors on recent events? It’s been 3 months since we last heard from him! This is insane……