The company intends to take legal action concerning the October 22, 2024, wyborcza.biz article: „Cinkciarzowi może brakować 150 mln zł. Część pieniędzy da się jeszcze odzyskać” (Cinkciarz may be missing 150 million PLN. Some of the money can still be recovered).
Guided by concern for the company's and its customers' welfare, we ask all media representatives to refrain from repeating the untrue claim that the company “may be short of PLN 150 million.” We would like to point out that the hypothesis mentioned above is based entirely on unconfirmed and anonymous considerations of an interlocutor of the website presented as “one of the officials.”
At the same time, we strongly object to representatives of state institutions spinning such hypotheses. This destabilises the Company's operations and intensifies unjustified market panic. To make matters worse, it also significantly impedes the owner's ability to negotiate with potential investors with whom talks are underway to raise funds for the company's further development and expansion.
We regret to say that information from inspections conducted at the company by the KNF has already leaked to other market participants in the past. Unfortunately, this is also not the first time that regulator representatives have obstructed the introduction of corrective and stabilising measures for the company.
We would like to remind you that Conotoxia sp. z o.o. has repeatedly informed the KNF of the banks' attitude, which for years violated the principle of equal treatment of enterprises and hindered the company's access to the market by banning cooperation with entities from the Cinkciarz.pl group. These signals were left without response each time.
Written information about delays running into tens of millions of zlotys by payment providers was also met with the passivity of the Authority. Conotoxia sp. z o.o. informed the KNF of this, for example, in correspondence dated August 22, 2024.
In the same letter, the company also informed the KNF that after years of unsuccessful efforts to obtain a loan on the domestic market, it had finally managed to secure financing from a foreign bank. Unfortunately, on October 3, the day after the Authority’s hasty and unfair decision to revoke the payment services license, it was withheld.
At this point, it should be recalled that technical problems were the immediate cause of the delays in disbursing customer funds. These, in turn, were caused by the adaptation of IT systems to the post-inspection recommendations, which the company implemented according to the schedule submitted to the Authority.
Conotoxia sp. z o.o. reports that its priority today is to seek an investor whose support would enable the company's further development. The company is in advanced talks with international investment funds about this.
At the same time, Conotoxia sp. z o.o. is taking the necessary steps to eliminate the KNF's decision from legal circulation. Within a few days, we will challenge the decision itself and file a request to the court to lift the order of its immediate enforceability.