Flodatix Limited (08360378): administration
- Status
- Administration ended
- Administration began
- 2024-01-30
- Administrators' firm
- KRE Corporate Recovery
- Formerly
- Iphase Limited
- Incorporated
- 2013-01-15
- Location
- Reading
- Industry
- 26511 Manufacture of electronic measuring, testing etc. equipment, not for industrial process control
From the administrators' statement
3.1 During October/November 2023 it became uncertain whether Aspen Energy Partners LLC (‘Aspen’), the Company’s largest shareholder and funder, would be willing to provide ongoing funding required for the business to continue to trade.
3.2 The Directors therefore began marketing the business at this time, due to the uncertainty regarding the future funding operations, however the response received from the parties approached was that the Company was in too early of a development stage and pre-commercial for them to consider making an offer.
3.3 At the start of December 2023, Aspen advised the board that it was no longer willing to provide further funding to the Company. The Directors therefore explored the possibility of obtaining alternative funding, however, none could be found on terms that were acceptable. 3.4
Administrators' statement of proposals (2024-03-23) · Companies House register