DFNN, Inc. has obtained approval from the Securities and Exchange Commission (SEC) for its equity restructuring plan aimed at wiping out a deficit amounting to P691.34 million. In a disclosure to the stock exchange on Wednesday, the information technology solutions provider said it received approval from the SEC to undergo an equity restructuring instead of…
DetailsPhilippines: DFNN, Excel Century ink $12.4m private placement deal Read more at: https://www.dealstreetasia.com/stories/philippines-dfnn-excel-century-ink-12-4m-private-placement-deal-72997/
DetailsTechnology provider DFNN Inc. chalked up a net profit of P51.32 million in the first three months, reversing the P10.39 million net loss year-on-year, as the company expanded its gaming footprint. Including earnings attributable to minority interest, DFNN’s net profit stood at P53.1 million, a turnaround from the net loss of P9.3 million in the…
DetailsThe Supreme Court has laid to rest all civil cases linked to the dispute between DFNN Inc. and the state-controlled Philippine Charity Sweepstakes Office (PCSO) over “illegal” termination of a lotto equipment leasing deal. This gives DFNN more legal muscle to press for the collection of some P310 million in arbitral award from the PCSO.…
DetailsTechnology provider DFNN Inc. has unveiled a plan to pursue an equity restructuring to wipe out capital deficit of over P600 million. In a disclosure to the Philippine Stock Exchange, DFNN said the restructuring would wipe out P601.99 million in retained deficit as of end 2016. Asked how the deficit will be wiped out, DFNN…
DetailsMANILA – Listed companies PhilWeb Corp. and DFNN Inc. on Friday released clarifications on President Rodrigo Duterte’s latest call to close down all online gaming operations. In a disclosure to the stock exchange, PhilWeb said it “does not engage in online gaming” and merely provides software to the Philippine Amusement and Gaming Corporation (Pagcor) for its network…
DetailsA P310-million arbitral award to technology solutions provider DFNN Inc. – which won a legal dispute with the state-controlled Philippine Charity Sweepstakes Office (PCSO) over “illegal” termination of a lotto equipment leasing deal – has become final and executory. In a disclosure to the Philippine Stock Exchange on Wednesday, DFNN said it had received a…
DetailsTHE COURT of Appeals (CA) affirmed the award of over P310 million to DFNN, Inc. for the premature termination of an equipment lease agreement with the Philippine Charity Sweepstakes Office (PCSO). People fill-up lotto tickets at a PCSO outlet in Manila. — BW FILE PHOTO In a decision issued on Nov. 17, the appellate court dismissed…
DetailsA COURT upheld an earlier decision to award DFNN, Inc. P310 million for damages arising from the premature termination of its lease agreement with the Philippine Charity Sweepstakes Office (PCSO). In decision dated May 18, the Regional Trial Court of Makati City denied the motion of PCSO to reconsider the amount of the arbitral award,…
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