KoreaStockCheckINSPECTION REPORT · KRX FILINGS · AS OF 2022-09-07 — frozen at delisting
HIGHEST RISK

Soribada

KRX 053110 · 소리바다
Risk score 43 — higher is riskier
LOWESTLOWMODERATEHIGHHIGHEST
⛔ DELISTED (2022-09-07) — Audit opinion disclaimed (scope limitation)
Verdict. In the last five years this company filed 9 rights offerings, 6 convertible-bond issuances, 1 capital reduction, 1 corporate split. That places it among the riskiest 1.5% of 3,442 listed companies. Its filed financials show capital impairment of 96% on the FY2020 balance sheet and operating losses 3 fiscal years running. Historically, 42.1% of companies rated HIGHEST RISK were later delisted for cause — 8× the market average. The most recent of these filings: 2022-02-16 — the report always looks at the last 5 years, so older filings roll off over time.

The full checklist — including the zeros

Audit-opinion issues1
Capital reductions1
Convertible/warrant bonds6
Corporate splits1
Embezzlement/breach-of-trust filings0
Rights offerings9
Unfaithful-disclosure sanctions6
KRX administrative-issue designations6
Fatal-type filings, last 5 yrs13
Capital impairment (FY2020)96%
Consecutive operating-loss years3
CoverageLast 5 years of filings

Plus 4 older fatal-type filings (2016) — outside the scoring window; listed in the history section below.

Company analytics

DELISTED
2022-09
Audit opinion disclaimed (scope limitation)
SHARE COUNT, 5Y
-79%
share count collapsed through capital reductions — long-term holders were largely wiped out
FATAL FILINGS
17
10× disclosure sanction (2016–2021) · 6× KRX administrative issue (2021–2022) · 1× audit-opinion issue (2022) — 13 within the last 5 years; each listed below

Ten-year event timeline

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026

● CB/BW · ● rights offering · ● capital reduction · ● split · ● fatal filing

Fatal-type filings

🚩 2022-08-16 — Audit opinion issue (1× in 3 yrs) · DART filing ↗
기타시장안내(반기 감사의견 관련 상장폐지 절차 미진행)
🚩 2022-03-02 — KRX administrative issue (관리종목) (6× in 3 yrs) · DART filing ↗
기타시장안내(상장폐지 및 관리종목 사유추가 우려 안내)
🚩 2022-02-16 — KRX administrative issue (관리종목) (5× in 3 yrs) · DART filing ↗
기타시장안내(관리종목 사유추가 우려 안내)
🚩 2022-02-16 — KRX administrative issue (관리종목) (5× in 3 yrs) · DART filing ↗
내부결산시점관리종목지정ㆍ형식적상장폐지ㆍ상장적격성실질심사사유발생
🚩 2021-05-12 — Unfaithful-disclosure designation (6× in 3 yrs) · DART filing ↗
불성실공시법인지정(공시번복)
🚩 2021-04-20 — Unfaithful-disclosure designation (5× in 3 yrs) · DART filing ↗
불성실공시법인지정예고(공시번복)
🚩 2021-03-02 — KRX administrative issue (관리종목) (3× in 3 yrs) · DART filing ↗
기타시장안내(관리종목지정우려종목)
🚩 2021-02-16 — KRX administrative issue (관리종목) (2× in 3 yrs) · DART filing ↗
기타시장안내(관리종목지정우려종목)
🚩 2021-02-16 — KRX administrative issue (관리종목) (2× in 3 yrs) · DART filing ↗
내부결산시점관리종목지정ㆍ형식적상장폐지ㆍ상장적격성실질심사사유발생
🚩 2021-02-02 — Unfaithful-disclosure designation (4× in 3 yrs) · DART filing ↗
불성실공시법인지정(공시번복)
🚩 2021-01-11 — Unfaithful-disclosure designation (3× in 3 yrs) · DART filing ↗
불성실공시법인지정예고(공시번복)
🚩 2019-12-26 — Unfaithful-disclosure designation (2× in 3 yrs) · DART filing ↗
불성실공시법인지정(공시번복)
🚩 2019-12-10 — Unfaithful-disclosure designation (1× in 3 yrs) · DART filing ↗
불성실공시법인지정예고(공시번복)
4 fatal-type filings older than 5 years — no longer counted in the score; listed with sources so you can judge the governance history yourself
2016-09-19 — Unfaithful-disclosure designation · DART filing ↗
2016-08-22 — Unfaithful-disclosure designation · DART filing ↗
2016-08-18 — Unfaithful-disclosure designation · DART filing ↗
2016-07-25 — Unfaithful-disclosure designation · DART filing ↗

Dilution & impairment filings — last 5 years, each with the original filing

FILEDEVENTPATTERNORIGINAL TITLE (KOREAN)SOURCE
2022-02-16Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2022-02-16Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2021-11-22Corporate split1× in 3 yrs주요사항보고서(회사분할결정)DART filing ↗
2021-04-16Capital reduction1× in 3 yrs주요사항보고서(감자결정)DART filing ↗
2020-05-08Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2020-04-02Rights offering6× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2020-01-08Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2019-09-03Convertible/Warrant bond9× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2019-08-23Convertible/Warrant bond8× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2019-05-27Rights offering8× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2019-03-18Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2018-06-14Convertible/Warrant bond8× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2018-01-24Convertible/Warrant bond7× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2017-12-13Convertible/Warrant bond6× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2017-12-13Rights offering8× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
2017-11-24Convertible/Warrant bond5× in 3 yrs주요사항보고서(전환사채권발행결정)DART filing ↗
2017-11-02Rights offering7× in 3 yrs주요사항보고서(유상증자결정)DART filing ↗
Sources. Public DART filings only — every claim links to the original document. Facts, not opinions. Not investment advice.
Rating. Five ratings from LOWEST to HIGHEST RISK, validated against a decade of official KRX delisting outcomes — every company re-rated at seven annual start dates (2016–2022) and tracked forward. Rates cited on this page are from the most recent full cohort (rated Feb 2022, tracked ~4.5 years).
Score. A weighted count of dilution/impairment filings over the last 5 years (exact weights proprietary). Validated against a decade of official KRX delisting outcomes (see Rating above).
Coverage. Filings 2011–2026 · all KOSPI/KOSDAQ listed companies · refreshed daily.
Corrections. Believe a filing here is misattributed or misread? Email us with the item — verified errors are corrected promptly and noted.
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