Puni bought Calcio Como who are competing in the Lega Pro (third division) at a bankruptcy auction in March for €237,000 and became President.
Akosua Puni's Calcio Como risk going bankrupt
Calcio Como is owned by wife of Ghanaian midfielder Michael Essien
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Calcio Como is yet to register with the FIGC (Federation) because the cheque bounced, according to Il Messaggero and therefore failed to meet the deadline on Wednesday.
Meanwhile, Friday is the deadline for registering for the Lega Pro 2017-18 season, but without FIGC affiliation, that is not possible.
The ambitious woman issued a statement last week to appogise for a delay in the salaries of her players blaming it on technical challenges at her bank.
As things stand, Calcio Como would be forced to begin again from the amateur leagues.
New Coach Mark Iuliano, a former Juventus defender, was presented to the fans, but no new players were signed so far this summer and that began to raise questions.
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