Moshen Limited (07031609): administration
- Status
- Administration ended
- Administration began
- 2013-08-30
- Formerly
- Keyser Holdings Limited
- Incorporated
- 2009-09-28
- Location
- Woodford Green
- Industry
- 61200 Wireless telecommunications activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Credit insurance / supplier credit withdrawn
- Loss of key people
From the administrators' statement
The company was incorporated on 28 September 2009, under the name of Keyser Holdings Ltd which was changed to Moshen Ltd on 28 June 2011 Graham Baines (GB) was appointed a director on 14 April 2010 and Chris Akers (CA) on 10 Apri 2013 The aim of the company was to develop mobile platforms and services for targe multi-national brands across the sport and entertainment sector It was clear from the start that the adoption by major brands of these systems would be a long-term strategy, so in parallel the company undertook additional commercial work for hire across Mobile App and Web Site Building This would support the long-term strategy of brand and revenue share development
The company started relationships with a number of high profile sporting brands in 2010 and steadily grew in size with the support of commercial work and financial support from GB The first major sporting client was won in 2010, the Premier League, and the company was contracted to build the Fantasy Football Application for the 2010-2011 season
During 2010 GB raised additional investment through a sale of shares to Interactive Digital Entertainment Holdings Ltd (IDE), this investment was put directly into the company as working capital Throughout 2011 and into 2012 IDE invested a total of circa £700,000 by way of share acquisition and loans
Administrators' statement of proposals (2013-11-12) · Companies House register