Overview of Voluntary Suspension Update by Dubber Corporation (ASX: $DUB)

Dubber Corporation Limited (ASX: $DUB) has provided an update on its voluntary suspension request, revealing inconsistencies in funds held by a third-party trustee. Approximately $3.4 million of the funds has been recovered, and the Company is evaluating avenues for further recovery of the balance. The employment of Managing Director and CEO, Steve McGovern, has been suspended, and the matter is being referred to ASIC. Executive Director, Peter Pawlowitsch, has been appointed as the Acting CEO during this period. Despite these developments, the delivery of Dubber services to the Company's global customer base remains unaffected, and the forecast revenue range for FY2024 remains unchanged.

Executive Commentary on the Voluntary Suspension Update

The Company has become aware of inconsistencies in the funds held by a third-party trustee during the audit review process for its 31 December 2023 half-year accounts. As a result, approximately $3.4 million of the funds has been recovered, and the Company is actively pursuing further recovery of the remaining balance. In light of these findings, the employment of Managing Director and CEO, Steve McGovern, has been suspended, and the matter is being referred to ASIC. I have been appointed as the Acting CEO during this period, and I assure stakeholders that the delivery of Dubber services to our global customer base remains unaffected. We are committed to providing further updates on any material developments in this matter and are working diligently with our auditor, Ernst and Young, to finalize and release our 31 December 2023 half-year accounts.

Summary of Dubber Corporation's Voluntary Suspension Update

Dubber Corporation Limited (ASX: $DUB) has disclosed inconsistencies in the funds held by a third-party trustee, with approximately $3.4 million of the funds recovered. The employment of Managing Director and CEO, Steve McGovern, has been suspended, and the matter has been referred to ASIC. Executive Director, Peter Pawlowitsch, has been appointed as the Acting CEO during this period. Despite these developments, the delivery of Dubber services to the Company's global customer base remains unaffected, and the forecast revenue range for FY2024 remains unchanged. The Company is actively evaluating avenues for further recovery of the balance and is committed to providing updates on any material developments in this matter. Dubber Corporation continues to work with its auditor, Ernst and Young, to finalize and release its 31 December 2023 half-year accounts.