From the administrators' statement

The Company was incorporated on 22 July 2009 and its core services were the sourcing and provision of telematic products and services and specifically ‘black boxes’ for use tn motor vehicles which insurance companies use to monitor dnver behaviour and then influence premiums charged The Company processed data collected via the boxes and reported to the insurers

FINANCIAL PROBLEMS

The Company is insolvent on a cash flow and balance sheet basis Some 9 months prior to the administration the directors identified the need for additional investment and instructed two corporate finance houses to help tt raise the required funding investment was sought from those in the insurance industry and more widely

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GAW5713 Limited (06969520)

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