Iceni Mobile Limited (06703151): administration
- Status
- Administration ended
- Administration began
- 2012-04-16
- Incorporated
- 2008-09-19
- Location
- London
- Industry
- 6420
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
11 Icent Mobile Limited (“the Company”) was established in September 2008 and tts principal objective was to develop software that would function as a payment platform for mobile phone to mobile phone payments
12 Tt was anticipated that, once the software was complete, revenue would be earned via transaction charges levied on payments made through the platform The Company’s target markets were those of developing economies with basic banking infrastructures that were yet to be penetrated by sumilar technologies or competitors
13 The Company’s major shareholder has been investing in the development of the software over the course of the Company’s existence However, whilst the software was close to being fully developed and was mn a testing stage, in March 2012, the mayor shareholder stated that it was not prepared to continue to invest any further sums
Administrators' statement of proposals (2012-05-11) · Companies House register