Ace Achieve Infocom warns it may be unable to operate as a going concern

Singapopre

A MEMORANDUM of understanding (MOU) and loan agreement that Ace Achieve Infocom entered into have been terminated after its shares were suspended from trading, with the company warning that it may not be able to operate as a going concern unless it finds replacement funding.

Ace said its board continues to search for one or more new investors to fund its outstanding audit, compliance and other professional fees needed to maintain its listing and compliance status. The company may no longer be able to operate unless replacement funding sources are available to the company to meet its financial obligations, it said.