Phaos Technology Reveals Required Going Concern Disclosure; Says As Disclosed In Its FY2026 Annual Report, Management Identified No Immediate Liquidation Concern And Outlined Mitigation Plans Involving Debt And Equity Financing, Product-Sale Cash Flows And Potential Shareholder Support

Benzinga · 1d ago

Phaos Technology Holdings (Cayman) Limited (NYSE:POAS) ("Phaos" or the "Company") reports that AssentSure PAC’s audit report for the fiscal year ended April 30, 2026 includes a going-concern explanatory paragraph expressing substantial doubt about the Company’s ability to continue operating as a going concern.

As disclosed in its FY2026 Annual Report, management identified no immediate liquidation concern and outlined mitigation plans involving debt and equity financing, product-sale cash flows and potential shareholder support.

These mitigation plans are intended to strengthen the Company’s financial position. They should not be interpreted as an assurance that financing will be secured, shareholder support will be available or the going-concern uncertainty will be resolved.

The Company filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission ("SEC") on August 31, 2026. The report and audited financial statements are available through SEC EDGAR and the Company’s investor-relations website.

This announcement is being issued pursuant to Sections 401(h) and 610(b) of the NYSE American Company Guide. It does not amend or otherwise change the Company’s previously filed FY2026 Annual Report or audited consolidated financial statements. Investors should review the going-concern discussion and associated risks in those filings.