The Company operates from London headquarters with additional offices in two other countries. The product is an artificial intelligence driven autonomous service platform which provides connected autonomous robotics. The platform is currently in the developmental phase and when complete will integrate various types of robots and drones to work collaboratively as a fully autonomous workforce.
The product can be used within various industries, including logistics, smart factories, surveillance, and inspections/maintenance, and serve multiple purposes within smart cities such as emergency response, public safety, monitoring and e-health.
Key relationships are held with leading international telecom operators, numerous Fortune 500 companies and various local authorities.
The level of work in progress is considerable. Turnover for the financial year to 31 December 2020 equated to c. £363,000 resulting in an operating loss. The Company is still early in its life and due to cashflow issues it is anticipated that the business and assets will be sold via an insolvency process.
The opportunity presents a significant opportunity for a turnaround professional or trade party to restructure, preserve and invest to grow the value in the business and asset base, while capitalising on the Company’s investment in its technology to date.
Intellectual Property
Including Technology Platform, Corporate and Product Brand; Trade Marks; and Organisational Knowledge.
Machinery & Equipment
Various drones and associated equipment. A Fixed Asset Register is available under NDA.
Property
The research and development premises which is held leasehold.
All expressions of interest and bids are to be directed to Hilco Streambank. On receipt of a signed confidentiality agreement Hilco Streambank will provide access to a virtual data room providing further information. A Bid Submission Form is available on request.
The bidder acknowledges that Hilco acts as an agent, who offer for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. Hilco has not verified the information provided, and bidders are deemed to have carried out their own due diligence.
