The company behind Australia's pioneering smart cricket ball technology, SportCor, faces a financial stumping by its ASX-listed investor and creditor QMS Media.

QMS, which was the subject of a recent $420 million cash takeover bid, applied to wind up SportCor last month over a $329,000 debt which was due October last year, according to documents lodged with the Supreme Court of Queensland.

Former Test cricketer and SportCor chairman Michael Kasprowicz insisted the company no longer faces liquidation at the hands of QMS after reaching an agreement on their financial differences.

SportCor chairman Michael Kasprowicz said the issue with QMS had been resolved. Credit:Glenn Hunt

"The issue with QMS has been resolved and QMS’ solicitors have signed an order dismissing the application," Kasprowicz told The Sydney Morning Herald and The Age.